The Role of Technology in Real Estate: An Interview with Patrick Armstrong, CEO of Hyyve
The real estate industry has long relied on traditional methods for connecting buyers, sellers, and agents—but technology is beginning to reshape this landscape.
At the forefront of this change is Patrick Armstrong, Co-Founder and CEO of Hyyve, a platform designed to bring transparency, competition, and efficiency to the agent selection process.
With a background in PropTech and experience launching innovative solutions, Armstrong understands the challenges of introducing new technology into an industry known for its resistance to change.
In this interview, he discusses how Hyyve is carving out a unique space in the PropTech ecosystem, the growing demand for transparency in real estate, and the platform’s vision for leveraging emerging technologies to create a more seamless and data-driven home-selling experience.
The real estate industry has traditionally been slow to adopt new technologies. What challenges do you see in introducing a platform like Hyyve to the market?
PA: People are hesitant when it comes to change, especially when something has been traditionally done for years. With many people still relying on personal referrals and other traditional methods to find a real estate agent, educating homeowners on the benefits of a transparent, competitive process like Hyyve will take time, but the adoption curve accelerates once they see the value.
Agents also need to adapt to a new way of securing listings, investing directly in real leads and opportunities instead of inefficient, traditional marketing and lead-generation methods. Although Hyyve’s process is unlike anything else on the market, this model leads to a more efficient and measurable ROI for agents. Overcoming skepticism and proving the long-term benefits of the platform are crucial for our growth.
The real estate industry has seen a rise in PropTech solutions. How do you see Hyyve fitting into this landscape?
PA: Hyyve is a critical piece of Canada’s evolving PropTech ecosystem. While many solutions focus on the later stages of the real estate journey, such as financing, closing, or property search, we focus on the very beginning, starting with securing the right agent.
By bringing transparency and competition within the agent selection process, we’re improving the foundation of every transaction. Our partnership with Bidmii also enhances the pre-listing experience, helping homeowners maximize property value before their homes even hit the market. This integration aligns with a broader trend in PropTech, where different technologies are coming together to create a more streamlined, data-driven real estate experience.
Transparency in real estate pricing has been a major topic of debate. Do you think the industry is moving toward more openness, and how does Hyyve contribute to that?
PA: The demand for transparency in real estate is growing rapidly, and we believe it’s a necessary shift. Buyers and sellers deserve clear insights into pricing, agent performance, and the factors that influence transaction outcomes.
Hyyve promotes transparency by giving sellers a complete view of agent bids, services, and qualifications. Instead of selecting an agent based on word-of-mouth or limited information, sellers can evaluate multiple professionals side by side, ensuring they choose the best fit for their needs. This level of openness creates a more competitive environment that ultimately benefits both sellers and high-performing agents.
What measures does Hyyve take to ensure the security and legitimacy of transactions on the platform?
PA: Trust is always critical in any online marketplace, and we’ve built various safeguards into Hyyve to protect both sellers and agents.
We verify all agents on our platform to ensure they are licensed and in good standing. Second, agent bid payments are held in escrow until the listing agreement is honored, ensuring that both parties are committed to the process. Additionally, our terms and conditions prevent misuse by requiring sellers to actively participate in the sales process, and agents are protected from non-compliance.
These measures create a secure environment where transactions are conducted with confidence and fairness.
Looking ahead, how does Hyyve plan to leverage emerging technologies to further enhance the home selling and buying experience?
PA: Our long-term vision is to expand Hyyve into a fully integrated real estate ecosystem.
We’re strengthening our platform through strategic partnerships, like our collaboration with Bidmii and, most recently, Frank Mortgage. By working with innovative companies in the PropTech space, we’re continuing to streamline the real estate process, reducing inefficiencies and giving homeowners more control over their transactions.
Ultimately, we’re creating a fully integrated ecosystem designed for smarter, more profitable sales—removing friction from the home selling journey and ensuring sellers have the tools and insights they need to maximize their outcomes.