Recently, our CEO, Jeff Finn, attended CRE // Tech Intersect in NYC. He took a few notes and has been kind enough to share them with us here.
There was a great turnout for the 6th annual CRE Tech Intersect Conference in NYC on October 6, 2016. The view from the 63rd floor of One World Trade Center was an amazing backdrop to the incredible, new technologies reshaping the commercial real estate industry landscape. While market leaders like RealNex, VTS, Hightower, Compstak, The News Funnel and Onyx Equities got to show their wares before a sold-out crowd, the real show and lesson was the View From the Top, where tech strategy and innovation leaders from CBRE, JLL, Colliers and C&W held court to discuss the current state of the industry.
The panel, moderated by Erik Levy from DMGI, included: Mike Hart, JLL; Dan Spiegel, Colliers; Sam Martin, CBRE; and Kevin Loftis, C&W.
My top 10 take-aways from the panel were:
- Integration is key. The task is to take the best in class and put it all together.
- Currently, there is a need for platforms to consolidate and integrate data to become predictive.
- Contrary to popular opinion, brokers are at their desk 80% of the time and in the field 20%. Technology will be key in changing that dynamic.
- Tech looking to break into large companies should first sell to top agents. Get their buy in and then go upstream.
- Today's winning solutions need a “slick” mobile interface and all design must be responsive.
- Excel reports are history. Successful professionals need real time data and the ability to drill down to a granular level.
- Clients want to partner with the CRE tech world to create solutions. Seek out the experience and insight of those in the field and collaborate on solutions to transform the industry.
- Tech solutions must focus on the life cycle --not just the transaction. The key is to add value and keep CRE professionals connected to their clients.
- Top brokers are constantly and aggressively looking for an edge. They aren’t slow to adopt technology, but they are skeptical and need proof of value.
- Sell to our clients first…get them to demand it and we will follow!
Based on this View From the Top, it seems like RealNex is heading in the right direction with its strategy of consolidation and integration. And while many “point” solutions remain active in the market, more complete integration is around the corner – a move that will create a handful of market leading platforms to drive marketplace liquidity and efficiency.