Christopher Wise on Why More PropTech Can Mean Less Innovation
Written by Rhiannon Frater
The real estate industry is drowning in PropTech solutions. Smart locks, AI chatbots, predictive analytics, virtual touring platforms, automated rent collection: the tools multiply faster than most operators can implement them. Conferences showcase hundreds of startups, each promising to revolutionize property management. Yet for all this technological abundance, Christopher Wise sees a troubling trend: more technology, but less actual innovation.
"The PropTech paradox is that we're solving problems that don't exist while ignoring the ones that do," Wise explains. "Operators chase the latest gadget instead of asking what problems they actually need to solve." This observation strikes at the heart of what's broken in today's real estate technology landscape.
The issue isn't that PropTech solutions are inherently bad: many are genuinely excellent products built by talented teams. The problem is deployment without strategy. Technology gets added to properties like layers of paint, each new tool stacked on top of previous systems without thought to integration or purpose. The result is expensive complexity that often makes operations harder rather than easier.
As Wise wrote in his Ritz Herald article on strategy, technology is only as powerful as the thinking behind it. Without clear objectives, even sophisticated tools become expensive distractions that consume management attention without delivering meaningful results. Property teams spend more time managing technology than using it to serve residents or improve operations.
Wise Capital takes a fundamentally different approach to technology adoption. Every technology decision starts with specific questions that must be answered before any vendor conversations begin: What problem are we solving? How will this improve operations or resident experience? What metric will prove success or failure? How does this integrate with existing systems? Only after answering these questions rigorously does the firm evaluate potential solutions.
This disciplined process ensures that technology serves the business strategy rather than driving it. Systems must integrate seamlessly with existing operations, genuinely support property-level teams in their daily work, and deliver measurable outcomes that justify the investment. Anything that doesn't meet these criteria, regardless of how impressive it seems, gets rejected. This filter has saved Wise Capital from countless expensive mistakes.
Another critical dimension of the PropTech paradox is integration. Many operators cobble together point solutions from different vendors: one platform for leasing, another for maintenance requests, a third for payment processing, a fourth for tenant communication. Each system works reasonably well in isolation, but they don't talk to each other. The result is technology silos that actually reduce efficiency rather than enhancing it.
Wise Capital addresses this challenge by building much of its technology infrastructure in-house. Proprietary platforms ensure seamless integration across acquisition analysis, property operations, and resident services. Data flows freely between systems without manual intervention, enabling insights and automation that fragmented platforms simply cannot deliver. This integrated approach compounds value over time as each system enhances the others.
Perhaps most importantly, Wise insists that technology should enhance human capability rather than attempting to replace it. Despite breathless hype about AI replacing property managers, the reality is that property management remains fundamentally a people business. Technology should free managers from administrative drudgery so they can focus on relationships, community building, and the judgment calls that algorithms simply cannot make.
As noted in his TechBullion piece on Class C housing, Wise Capital doesn't deploy technology for scale's sake, it deploys technology to make housing better and more human. Automated systems handle routine tasks efficiently while property teams invest their time in meaningful resident interactions that build community and drive retention.
Breaking free from the PropTech paradox requires discipline that many operators lack. It means resisting the temptation to chase every shiny new platform. It means building technology infrastructure that genuinely aligns with strategic objectives rather than following industry trends. It means fewer tools, better integration, and relentless focus on outcomes that actually matter: lower operating costs, higher resident satisfaction, and stronger property performance.
Wise and Wise Capital are proving that the PropTech paradox isn't inevitable. With clear strategic thinking, purposeful implementation, and proper respect for both technology and human expertise, innovation can deliver on its considerable promise. But only if operators are willing to ask the hard questions first.
Disclaimer: This article is for informational purposes only and does not constitute financial, investment, or legal advice. Real estate investments carry inherent risks, including the potential loss of capital.
