Glyn Trott: ‘Fintech in property is a natural progression’
This week we shared a coffee and a chat with Glyn Trott, the Cardiff-based real estate entrepreneur and non-executive director of ShareProperty. Passionate to discuss the online investment landscape, Glyn sees his investment in the platform as a 'logical decision', having revolutionised property letting through the application of sophisticated technology in the past.
Disclaimer: Please note that the opinions expressed have not been approved as a financial promotion and may not be relied upon. Investors should conduct their own research and due diligence.
The software creator is the proud owner of Pinnacle Lettings, a three-branch letting agency based in Cardiff, Newport and Treforest. Managing over 850 properties on a constant basis, Glyn and his team possess a working knowledge of the market; understanding where it is heading and putting pillars in place to streamline it.
From the success of Pinnacle Letting, Glyn went to market in 2004 with LetMC, an innovative software company that provides a clear solution to issues estate agents face every day. Creating Wales’ first digital management suite for agents, Glyn has over the years seen what an impact tech can have on property sales and investment, with LetMc’s products now being used worldwide.
Helping the industry to grow whilst managing, selling and letting properties devoid of headaches, LetMC is a clear example of how technology can aid positive market change; believing the application of fintech in property investment to make ‘complete market sense’.
Claiming that ‘once you work with tech you never finish’ Glyn displays a hunger to be a part of this exciting new asset class.
Crowdfunding as the third funding option
Totally behind the idea of a fintech disruption in property, Glyn sees this emergence of crowdfunding platforms as a direct result of ‘the country’s disillusion with the banks’, believing crowdfunding to soon become everyone’s ‘third funding option’.
‘ShareProperty is effectively a bank. When the recession comes we will still be raising and funding as usual’ he says.
‘I see platforms like ShareProperty as investors’ third funding option. At present people’s options are so limited, with the market dictated by the banks and mortgage companies. Fintech provides a third funding option, one that will grow in popularity over the coming years’ he continues.
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