Although PropTech is not a one-size-fits-all category, it offers more efficient solutions for every different type of project. This raises the question: are the best PropTech companies the ones that can morph into all categories or should each PropTech company have a specific focus?

"The technology an office building needs is different than what a multifamily building needs or a single-family home or warehouse," Aaron explains. "One solution doesn't always fit all problems. Therefore, we examine the 'dirt to disposition' of every single process and every single person that touches a choke point in that process to determine the biggest needs."

As an example, Aarons explained how MetaProp views appraisals as a big choke point in the process. MetaProp determined there were two ways to fix appraisals, either by creating technology that enables appraisers to do their jobs faster, better cheaper or to replace human appraisers with some automated valuation model. Additionally, it was determined that appraisals should be specific for specific industries, i.e. commercial and residential. But in warehousing and logistics, PropTech can be more multifaceted because those industries work similarly and well together.

Whether it be surveying, construction, design or financing, anything in the real estate process that is inefficient must be examined by PropTech solutions to move forward, faster and better. PropTech addresses the biggest flaws in subsectors and specific solutions perfectly suited to solve a problem. When possible, technology can span asset types that are similar and, therefore, provide a profitable solution.

"A technology that can span these two asset types will be super successful as it will buttress true omnichannel retail and logistics," says Aarons. "MetaProp looks at little subsectors and we go really deep into each subsector where there is really significant pain. We look for teams that are solving that pain in a variety of different ways with the end goal to ultimately make processes more efficient."

As for what's next for PropTech investments going into the next fiscal year, Aarons provides some interesting predictions.

"Google, Apple and Microsoft will buy PropTech companies in the near future," he tells GlobeSt.com. "Somebody somewhere will make a distressed play on either WeWork's bonds or real estate and make money. A dozen of the people WeWork laid off will go on to start businesses worth billionaires of dollars in the aggregate. In 2019, it will be the first year we may see a commercial real estate transaction without wet signatures. And, 2020 will be the first year we are able to produce an Alta survey without a single human being, i.e., all drones, robots, computer vision and AI."