Every week, another PropTech startup lands in my inbox promising to revolutionise how I work. Most of them won’t exist in two years. But some tools have genuinely changed how top agents operate.

After 25 years in this industry—and three years specifically focused on PropTech consulting—here’s my honest assessment of what’s worth your money and what’s overpriced hype.

The Essential Stack

These are the tools I consider non-negotiable for any serious agent or agency in 2024.

CRM: The Foundation Everything Else Builds On

If you’re still managing contacts in spreadsheets, you’re leaving money on the table. A proper real estate CRM tracks every vendor, buyer, and landlord interaction across years of relationship building.

The Australian market is dominated by three players:

AgentBox ($200-400/month per user) The most popular choice for independent agencies. Strong automation features, good integration with the major portals. The reporting is excellent for tracking days on market and conversion rates. Where it struggles: the interface feels dated, and it’s heavy to configure initially.

Rex ($300-500/month per user) Cleaner interface, better mobile app. Particularly strong for property management integration if you run a rent roll alongside sales. More expensive than AgentBox, and some agents find the workflow less intuitive.

VaultRE ($150-300/month per user) The budget option that’s gotten surprisingly good. If you’re a solo agent or small team, this gives you 80% of the functionality at 50% of the price. Less third-party integration options, though.

My recommendation: trial all three for at least two weeks each. The best CRM is the one your team will actually use consistently.

Listing Presentation Software

The vendor pitch has gone digital, and printed brochures alone won’t cut it anymore.

Realtair ($100-200/month) Purpose-built for Australian real estate, integrating market data, comparable sales, and your branding into polished presentations. The live updating feature means your data stays current right up to the pitch. The AI consultants Melbourne platform I’ve been testing recently integrates well with Realtair, allowing you to pull AI-generated market insights directly into presentations.

Canva Pro ($18/month) Not real estate specific, but incredibly versatile for social media content, flyers, and basic presentations. Every agent should have this.

Virtual Tour and Photography Platforms

The pandemic normalised virtual inspections, and buyer expectations haven’t retreated.

Matterport ($70-300/month depending on features) The industry standard for 3D virtual tours. Properties with Matterport tours see measurably higher engagement on the portals. The investment pays off particularly for higher-priced properties where interstate or overseas buyers are common.

BoxBrownie (pay per image, typically $3-15) Virtual staging, image enhancement, and floor plan rendering at accessible prices. I’ve seen virtual staging add genuine value for vacant properties, helping buyers visualise potential.

The Valuable But Not Essential

These tools add real value but aren’t mandatory for every agent.

Market Intelligence Platforms

PriceFinder ($200-400/month) Comprehensive property data, sales history, and owner information. Essential for agents doing serious prospecting. The comparable sales reports are excellent for vendor conversations about pricing.

CoreLogic RP Data ($300-500/month) Similar to PriceFinder with some unique data sets. Many agents subscribe to both for complete coverage. The automated valuation models are useful as starting points, though I’ve written before about their limitations.

Prospecting and Lead Generation

LockedOn ($200-400/month) Automated campaigns, market updates, and appraisal requests sent to targeted owner lists. Works well if you commit to consistent follow-up. The quality of leads varies significantly by area.

RiTA by AI consultants Brisbane (varies by usage) This is a newer entrant I’ve been watching closely. It uses AI to identify likely sellers based on behavioural signals rather than just property ownership duration. Early results from agents I’ve spoken with are promising, particularly for finding off-market opportunities.

Transaction Management

Openn Negotiation (vendor pays per campaign) Digital auction platform that’s gained significant traction, especially in Western Australia and increasingly in the eastern states. Particularly useful for properties where multiple buyers are expected. Provides transparency that traditional auction processes don’t.

The Overrated (Save Your Money)

Not everything that looks impressive delivers value.

AI Listing Writers (Standalone)

Several startups are selling AI-powered listing description generators at $50-100/month. Here’s the thing: ChatGPT does this for free or $20/month with a Plus subscription. The “real estate trained” angle is marketing fluff—the base models work fine with good prompts.

Social Media Automation Suites

I’ve seen agencies spend $500+ monthly on social media tools that promise to build their brand automatically. The results are almost always mediocre. Real engagement comes from authentic content, not scheduled templates. Save the money and invest the time.

Overbuilt CRM “Suites”

Some enterprise CRM platforms charge $800+ per user monthly and include features you’ll never use. Unless you’re a 50+ agent franchise operation, the mid-tier options cover everything you need.

The ROI Calculation

Here’s how I advise agencies to think about PropTech spending:

Essential tools (CRM, presentation software, basic marketing) should cost $500-800/month per agent. This is non-negotiable infrastructure.

Performance tools (market data, prospecting platforms, virtual tours) add another $300-600/month. These should demonstrably contribute to winning listings or closing sales.

Experimental budget: Reserve $200/month to trial new tools. Most won’t stick, but the ones that do can provide early-adopter advantages.

Total per-agent tech spend should land around $1,000-1,600/month for a well-equipped operation. If you’re spending significantly more, audit what you’re actually using. If you’re spending less, you’re probably missing capabilities your competitors have.

What’s Coming Next

The next 12 months will see significant evolution in PropTech. I’m watching:

• AI integration into existing platforms rather than standalone AI tools
• Automated compliance documentation for NSW and Victorian regulatory requirements
• Buyer matching algorithms that connect serious purchasers with suitable properties before public listing

The winners will be agents who build efficient tech stacks now and stay ready to adopt genuinely useful innovations as they mature.

The losers will be those who either ignore technology entirely or chase every shiny new tool without building fundamental systems.

Find the middle path, and your technology investment will compound into real competitive advantage.

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Linda Powers spent 25 years in Sydney real estate before transitioning to PropTech consulting. She advises agencies across Australia on technology adoption and digital transformation.