Realtors see tech-enabled real estate as the sector’s future, viable path

Real estate agents, otherwise known as realtors, have said that tech-enabled real estate is the future and the only viable path forward for the sector. This means that stakeholders have to focus on building digital ecosystems that can streamline property transactions and unlock liquidity.

The realtors, who spoke at the 2025 Regional Leadership Summit organised by National Association of Realtors (NAR), noted that it is important for public and private sectors to collaborate in addressing challenges unique to different real estate markets.

Chude Osiegbu, CEO of Venco Nigeria, pointed out the role of technology in solving core real estate challenges in Africa, from property search and acquisition to urban infrastructure and affordability.

He cited connectivity issues, lack of standardised data, and digital illiteracy as hurdles slowing down the adoption of tech solutions in African cities.

The leadership summit, which brought together bilateral partners, affiliates, and key stakeholders from across the globe, provided a strategic platform for strengthening partnerships through collaboration, innovation, growth, and resilience—particularly in Africa’s rapidly evolving real estate markets.

Kevin Brown, NAR’s 2025 President-elect, delivered a keynote on the urgent need to expand housing supply in the United States, where the deficit is now estimated at nearly 3.8 million homes.

“The housing gap cannot be closed without innovation and capital,” Brown said, highlighting NAR’s role in regulating the real estate industry, protecting property rights, and partnering with venture capitalists to fund proptech startups.

“NAR has already made investments across North America, Israel, and the United Kingdom,” Brown noted, explaining that the aim is to bring scalable solutions to a crisis that is both domestic and global.

NAR officials used the occasion to share organisational updates with regional partners, while facilitating bilateral discussions on sustainable development goals in real estate. Several working groups explored the intersection of housing, technology, and policy, especially in the context of urban resilience and the smart city movement gaining momentum in cities like Lagos, Nairobi, and Kampala.

The Lagos summit also spotlighted how intercontinental investment—when combined with local innovation—can catalyse real estate transformation in Africa. Participants advocated for increased infrastructure financing, standardised land data systems, and collaborative platforms between African developers and international capital pools.