Real estate technology, also known as PropTech, has gone through a period of rapid innovation, fueled by digitization, increased competition in real estate, and the advent of remote real estate buying and selling, accelerated by the OCVID-19 pandemic. From smart building management systems to online property marketplaces and tenant experience plastforms, PropTech companies develop and rely on software to drive efficiency, automation, and customer engagement in how we buy, sell, rent, manage, and maintain real estate. However, as the industry has become software dependent, like with other industries, the risks associated with cybersecurity threats, compliance requirements, and third party software vulnerabilities have also grown, exposing real estate technology companies to greater scrutiny and business risk.

In this blog, we’ll explore the security challenges faced by PropTech companies, the importance of application security as part of a broader software security strategy, and how SOOS helps PropTech businesses protect their platforms, customers, operations, and reputations.

PropTech Software Security Challenges

PropTech companies handle large amounts of sensitive data, including personal information, financial records, and proprietary business data. Software vulnerabilities can expose PropTech businesses to cyber threats, data breaches, and operational disruptions, which can lead to financial loss, reputational damage, and regulatory penalties.

Key Risks in PropTech Software Security Include:

• Data Breaches: PropTech platforms store personal and financial data of tenants, buyers, sellers, and property managers. A breach can result in identity theft, fraud, and legal consequences.
• Third-Party Vulnerabilities: Many PropTech applications rely on third-party integrations for payment processing, IoT device management, and analytics. Unsecured dependencies can introduce security risks.
• Regulatory Non-Compliance: PropTech businesses must comply with data protection regulations such as GDPR, CCPA, and industry-specific guidelines. Failure to comply can lead to heavy fines and operational restrictions.
• Operational Disruptions: Cyberattacks targeting smart building management systems or property transaction platforms can lead to system downtime, tenant dissatisfaction, and lost revenue.
• Financial Loss: Cyberattacks can cause significant financial damage. Apart from the costs associated with a data breach, PropTech companies may face ransom demands, lawsuits, or the expense of regulatory penalties. In addition, the potential loss of business following a breach could further exacerbate financial losses.

PropTech Software Security Best Practices

To mitigate cybersecurity risks and ensure secure operations, PropTech companies should implement robust security practices at every stage of software development and deployment. Here are the top security best practices for PropTech companies:

1. Secure Software Development Lifecycle (SDLC)

Embedding security into the software development process helps prevent vulnerabilities from reaching production.

• Why it’s important: Addressing security early reduces remediation costs and prevents potential exploits.
• Example: A PropTech company implementing static code analysis in CI/CD pipelines can identify security flaws before deployment.

2. Data Encryption and Protection

Encrypting sensitive data ensures confidentiality and protection against unauthorized access.

• Why it’s important: Encryption safeguards user data even if a breach occurs.
• Example: Encrypting tenant lease agreements and payment information using AES-256 ensures data security in transit and at rest.

3. Vulnerability and Patch Management

Regular vulnerability assessments and timely patching prevent exploits in PropTech applications.

• Why it’s important: Unpatched vulnerabilities are an easy target for cybercriminals.
• Example: A PropTech company running automated vulnerability scans weekly and patching critical vulnerabilities within 24 hours minimizes risk exposure.

4. Third-Party Component Management

Using software composition analysis (SCA) tools helps monitor open-source dependencies and third-party integrations for security flaws.

• Why it’s important: Unsecured third-party code can introduce compliance and security risks.
• Example: A PropTech platform integrating with IoT devices scans for vulnerabilities in vendor SDKs before deployment.

5. Regulatory Compliance

Meeting compliance requirements protects businesses from legal and financial penalties while maintaining customer trust.

• Why it’s important: Compliance ensures adherence to best practices for data security.
• Example: A PropTech company automating GDPR compliance checks with audit-ready reporting streamlines regulatory adherence.

The Role of Application Security in PropTech

Application security is a crucial component of cybersecurity for PropTech companies. It ensures that web applications, mobile apps, and backend services remain secure against cyber threats. Here’s how application security enhances PropTech business resilience:

• Proactive Security Measures: By integrating security early in the development process, PropTech companies can identify and address vulnerabilities before their systems are deployed.
• Securing Customer Data: Encryption, authentication, and secure access controls protect tenant and property owner information.
• Automated Vulnerability Detection: Continuous security monitoring detects and mitigates vulnerabilities in real-time, catching issues quickly, helping resolve them faster, and reducing the chance they’re exploited.
• Regulatory Compliance: Application security practices help businesses stay compliant with data protection regulations, such as GDPR, CCPA, and others.
• Incident Response: Application security also involves monitoring systems for signs of breach attempts and quickly responding to threats to minimize damage.

How SOOS Helps PropTech Companies

SOOS provides a comprehensive application security platform that is easy to integrate and cost-effective for PropTech businesses. Here’s how SOOS enhances PropTech software security:

Comprehensive Security Scanning

SOOS scans third-party libraries and open-source dependencies to detect vulnerabilities and licensing risks, ensuring compliance with security standards. SOOS provides comprehensive, actionable security findings without overwhelming developers with unnecessary alerts. SOOS is the only application security platform with deep-tree scanning to uncover vulnerabilities that other tools miss, deep in your application’s dependency tree.

A Unified View of Software Risk

SOOS offers one centralized platform with tooling to find vulnerabilities at every stage of software development, and in live environments. This includes Software Composition Analysis (SCA), Static Application Security Testing (SAST), Dynamic Application Security Testing (DAST), Container Security, and SBOM Management, which together provide thorough protection and compliance across your software ecosystem.

Automated Vulnerability Management

SOOS offers detailed risk assessments and configurable prioritization, helping PropTech teams focus on critical security threats first.

Built for Developers, Not Just Security Teams

SOOS is designed to fit seamlessly into development workflows without adding complexity. With a simple setup, integrations with popular CI/CD tools, and clear, role-specific security insights, it enables developers to manage security without disrupting productivity. Unlimited scanning, transparent pricing, and no vendor lock-in ensure teams can access the security they need without unexpected costs or rigid contracts.

Security Without Compromise

Unlike competitors that limit scans, SOOS offers unlimited security testing, allowing teams to integrate automated security at every stage of development. Continuous scanning ensures vulnerabilities are detected early, reducing security risks without the manual burden of determining when to scan or risking unscanned software going live. By embedding security directly into CI/CD pipelines, SOOS eliminates gaps in protection and enables organizations to implement a proactive security strategy.

Compliance and Regulatory Support

SOOS assists with meeting GDPR, CCPA, and other regulatory requirements by providing automated compliance reporting and audit-ready logs, as well as point-in-time reporting if needed to demonstrate known and addressed vulnerabilities at any given time.

AppSec That Just Works

SOOS provides a developer-friendly, practical security solution that integrates effortlessly with existing tools. Its patented deep-tree scanning technology detects vulnerabilities other tools overlook, while an intuitive interface and dedicated customer support make security easy to adapt to your business and environment. With transparent pricing and ongoing platform improvements based on user feedback, SOOS delivers reliable, hassle-free application security.

PropTech Software Security: From Daunting to Doable

The digital transformation of the real estate industry makes cybersecurity a business-critical priority. However, securing PropTech applications doesn’t have to be overwhelming. By integrating security best practices into software development, managing third-party risks, and ensuring compliance, PropTech companies can protect their platforms and users while maintaining business growth.

SOOS provides a straightforward, affordable, and effective solution for PropTech application security. With SOOS, PropTech businesses can automate security scans, identify vulnerabilities early, and maintain compliance, all without burdening their development teams. To learn more about how SOOS can help secure your PropTech applications, contact us or try SOOS for free.