Over the past several years, there’s been a clear shift in the conversation around technology in the CRE industry. For a long time, people talked about how brokers and other CRE professionals were old-fashioned and would be slow to adopt new tools. Now, the tech is here, as Buildout CEO Vishu Ramanathan discussed in his recent talk at Propmodo Live.
So what’s next?
Now that the attitudes around tech have dramatically shifted, the conversation around CRE tech needs to evolve from adoption to evolution. That new conversation should center on how tech can go even further to provide the most value to CRE professionals.
In a recent article, CREtech talked about how CRE is obviously “embracing” technology, and that’s what most bloggers and thought leaders in the industry are currently talking about. They suggest the next step is finding out how to use the existing tech tools to deliver better service outcomes.
Beyond innovation of companies and CRE professionals mastering the tools at their disposal, taking CRE tech to the next level can be achieved through better data integration with other brokerage tools to allow for more effective property listing syndication, email sending and more.
In another article, Mike Delprete of “Adventures in Real Estate Tech” discussed how –– even though no one can stop talking about tech in real estate –– the psychology of loss aversion may keep CRE professionals from truly embracing new tools. This puts an onus on tech developers to provide evidence that their tools work and can make brokers and other professionals more effective in their roles.
It’s not enough for developers to simply create a tool, and it’s not enough for brokerages to simply onboard it and expect major change. To take those tools to the next level, tech developers should be willing to collaborate with their customers to extend their value and solve real problems.
Check out our blog for more insights on how technology is changing CRE, including a summary of Vishu Ramanathan’s recent presentation at Propmodo Live.