Barriers to technology acceptance faced by PropTech start-ups Online publication date: Mon, 05-Aug-2024
by Juan Ocampo
International Journal of Entrepreneurship and Innovation Management (IJEIM), Vol. 28, No. 1/2, 2024
Abstract: Real estate (RE) is grappling with digital transformation. Although property technology (PropTech) start-ups are generating process innovations that offer novel solutions to current RE problems, they are hampered by the slowness of RE's technology acceptance. Classical technology acceptance theory can explain the adoption of specific technologies but the diversity of PropTech requires an additional perspective or extension to current theory. To identify the barriers PropTech start-ups face in RE, we interviewed 15 founders about the challenges and experiences of working with customers. We identified three aggregate dimensions: customer barriers, provider barriers, and external ecosystem barriers. Our findings contribute to technology acceptance theory by extending Davis's (1989) TAM with additional barriers that are relevant to the adoption of PropTech. Our extended model depicts barriers as elements that influence technology acceptance. The paper concludes by identifying further research areas.
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