MARCH/APRIL 2019 REAL ESTATE FORUM 11 www.globest.com/realestateforum
CRE’S TOP TECH
The commercial real estate industry has come far in a short period of time in terms of its adoption of advanced technology. The availability of data from such firms as Real Capital Analytics, RealPage and CoStar is now ubiquitous and it is fueling applications that range from artificial intelligence to nline marketplaces.
Crowdfunding has become a mainstream source of capital for real estate borrowers, thanks to such com-
panies as Fundrise in Washington DC, PeerStreet in El Segundo, CA and RealtyMogul in Los Angeles. We as
an industry also have our own old-school tech pioneers such as Ten-X and SMS assist, both of which have
become unicorns of the venture capital realm.
In fact, it is safe to say that commercial real estate has shed its former reputation as a laggard in tech
adoption. As the following pages show, there are a multitude of tech firms that are making inroads in this
space and they wouldn’t be here if the demand for their applications and services didn’t exist. These applications range from real estate-specific platforms for valuation and managing deal flow to technology that supports online brokerages and transaction management. Other products offer industry-specific CRM platforms
and social networks for buildings. New generations of online markets are springing up as well, focused on
such areas as capital markets sources and pop-up store locations. One constant throughout these examples:
data is being used in new and different ways than even a few years ago.
So yes, CRE has not only begun embracing industry tech, but it is doing so with wild abandon. One can
see that in the startups that are looking beyond today’s technology to develop applications that will be big
tomorrow. These companies are leveraging such technologies as artificial intelligence and machine learning
to make even better decisions about investment than is possible now.