Guest Post by Michael Beckerman, CEO at The News Funnel
The most profound way technology will impact the commercial real estate industry…
There has been so much talk about how the CRE sector will be significantly impacted by technology. For me, I have spent the past five years in the field and have also been fortunate enough to be able to track much of the tech startup scene in real estate with my own site. Having a front row seat on this growing sector, it has been very interesting to see that many of the early predictions turned out to be either premature, widely inaccurate or just flat out wrong.
The talk of “brokers being displaced”… not gonna happen!
The talk of “massive disruption in the way the business operates”… not happening!
“Billions upon billions of startup capital coming into the sector”… not quite there yet!
And I could go on and on about other predictions that just haven’t materialized yet. And that makes sense. The CRE tech sector is still so young and in its infancy that it’s going to take time and patience to really see it achieve meaningful impact on the real estate landscape.
However, I think there is one area that gets overlooked that has had a big impact already. And personally, I think it’s the most profound and most obvious area.