🚀 Apologies for the delay—event season has been in full swing! I’m excited to share insights from a recent webinar where industry leaders shared their thoughts on the challenges and opportunities of technology adoption in Commercial Real Estate (CRE). Panelists from AVUITY, Savills North America, Cherre, and RealtyAds provided valuable perspectives on navigating tech adoption in the CRE space. 🎤
💡 Tyler Vermette, VP of Sales at Avuity highlighted the influx of new technologies in the market, emphasizing the importance of aligning tech solutions with a company’s success criteria and operationalizing deployments across real estate teams. Often with limited resources, leaning on experienced providers for support is key.
🌍 Soufian Alsabbagh, Director of Cross Border Advisory, Americas at Savills addressed the complexity of rolling out tech across large global organizations, such as his 40,000-person company. Achieving adoption across different cultures, age groups, and systems is a challenge, but with rising client demand for tech solutions, it's a must.
💼 Kevin Shtofman, Global Head of Innovation at Cherre focused on three core business goals: increasing revenue, reducing costs, or lowering risks. Solutions must clearly achieve at least one of these goals to gain traction, and buy-in from internal IT teams is critical to successful deployment.
💡 Matt Newville, VP of Growth from Realty Ads built on this by noting that many CRE owners are wary of new solutions due to past overpromises. For PropTech to succeed, companies need to communicate clearly how they solve real problems and add measurable value.
It was a great discussion about PropTech challenges and how startups can align with traditional CRE needs! 🎯
📺 Watch the clip below to hear more!
Thank you again to the panelists! It was a pleasure having you on the webinar and learning all of your insights from the industry.
#PropTech#CRE#Innovation#WebinarRecap#RealEstateTechnology#EventSeason
I think what comes top of mind to me is ultimately you have a a lot of new technology that is really flooding the marketplace with a variety of different value propositions that you know these companies have to. Really go through and understand, you know what might be a fitter isn't a fit. But I think the bigger challenge is truly understanding what your success criteria looks like as a business 1st and then trying to go find some of those different pieces which takes really good alignment across the board, which is challenging in any enterprise level organizations. So I think that's one and then two, I think operationalizing a lot of these different deployments, whether you think about a workplace app, you think about sensor technology, you think. About different data platforms, it takes combination of it, it takes the real estate teams. You have a lot of different stakeholders and some of these organizations aren't equipped with a lot of extra help, especially as we go through some lean times. So I think leaning on different providers who can give you that support and some of that direction you've done it before are really big added value benefit as you think about buying process. Right. And coming from the the traditional end Supian would love to hear your hear your thoughts. Sure. Yeah, I see two key challenges. I think it's very easy for me being at Savills were a 40,000 person organization globally spread and I think that's the very first challenge. It's so big, so global, so many systems, so many different cultures. It just takes time to get everybody on board and to get adoption. Just starting with that and obviously most of our competitors the CBRE. ILS, Cushmans, et cetera, they're exactly in the same position. They're even bigger organizations, in fact. So I think that's the first challenge you have to face. And then second, I will say that within that huge organization, you're gonna find so many different talent profiles from the person that's 25 to the person that's 65. And again, it just takes time to get everybody on board, to get everybody up to speed. With the new tech, the new tools, not everybody's gonna adapt at the same pace. And I think that just makes perfect sense. So there's extra work needed to make sure that everybody gets on the bandwagon. Now, the good news is there is no choice for us. We have to do it. We have to get there because everybody around us is starting to change, evolve, or clients demand more techie products. They demand. Make oriented solutions. So we have to manage that transition and really make it a success. Well said, Kevin. On to you. Sure. You know we serve banks, pension funds, publicly traded REITs, property managers, brokerage firms just like Soutiens. And even though the types of businesses are extremely different, right? Some who allocate capital, some who receive it, some who manage it. All people at these companies always want the same three things, right? They either want to make more money, they want to spend less or lower the cost to achieve that revenue or they want to lower their risk and typically a combination of those three things. So with whatever solution you're introducing into the market, if it does not directly clearly and in a big way versus who you're competing with achieve one, at least one of those three things, you're not going to get adoption doesn't matter how how cool the technology is. So you have to be. Technically proficient enough to have a solution that. The IT group of a company is not going to feel threatened by their jobs because they're incentive system is to keep keep everything in the company running and that's their domain. And if you threaten that, they're going to prevent your solution from being deployed in their company. But once you've gotten past the technical hurdles, then it's really about convincing the CFO, the CEO, the head of acquisitions that have asset management, that by utilizing your tool they will make more money or do it in a less risky way. Yeah, perfect. And then Matt your your insight onto that. Yeah, I'm gonna steal a little bit of Kevins. The three points that he made are 100% accurate if you look at if you follow the money, right, which we all are told to do. You look at the amount of VC's that invested in prop tech companies over the last 2 1/2 years, three years, right? And so if you're looking in the seat from a commercial real estate owner, it's my opinion that they've been burned by pitches solving problems, that hey, we can go fix this for you. Hey, we can go fix this for you. Hey, we can go fix this. Well, what that does is when the Tylers, the Kevins, you know, the mats of the world come around with a solution that solves the bottom line, fixes what they currently have and saves them money they have. A little bit of a pause to say hold on. Prove it to me, right? Because there's been a little bit of a burnout from owners of assets, industrial, office, retail, mixed-use, you know, lab space, you name it, public companies, small companies, regional, national. And so I think the core challenge is clearly communicating how are we saving you money? How are we solving and how are we different from any other interview or solution that you guys have previously vetted, if you will. So whether that's a pilot, not a pilot doesn't matter. It's really on the innovation of prop tech. Communicate that clearly to owner. So that's. That's my vote for challenge.
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Why aren't there more rental proptech unicorns? 🦄
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Landing and expanding in a multifamily is a slow process. Winning a big client doesn't mean immediately deploying across the entire portfolio. Instead, your usage will scale building by building, city by city. It can take years before you fully capture a single client's portfolio.
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These are the traits that define the most successful real estate tech companies today:
🌍 Global Reach: Expanding across markets to create real impact.
🚀 Innovative Solutions: Developing tech that adapts to an ever-evolving industry.
🤝 Strong Partnerships: Building trusted networks that amplify success.
🎉 Community-Driven Events: Engaging the industry with events that foster collaboration.
🔮 Future-Focused Strategies: Preparing for tomorrow’s challenges with forward-thinking approaches.
Look closely, and you’ll find the leaders in real estate tech prioritise these traits. At REACH Australia and New Zealand, we’re committed to guiding proptech companies through each of these pillars of growth.
Explore more on our website: reachau.com.
Share your thoughts on what’s next for real estate tech below!
#RealEstateTech#Innovation#reachnewheights#reachforthestars
At CREtech 2024, Dani Black, CRO of AppWork, shared valuable insights into the evolving PropTech landscape, sparking important conversations about multifamily operations.
Two key takeaways stood out:
👉 “𝑺𝒐𝒎𝒆 𝒐𝒇 𝒕𝒉𝒂𝒕 𝒊𝒔 𝒋𝒖𝒔𝒕 𝒌𝒊𝒏𝒅 𝒐𝒇 𝒘𝒊𝒍𝒅 𝒕𝒐 𝒎𝒆 𝒕𝒉𝒂𝒕 𝒚𝒐𝒖 𝒂𝒓𝒆 𝒖𝒔𝒊𝒏𝒈 𝒇𝒖𝒍𝒍 𝑨𝑰 𝒐𝒏 𝒚𝒐𝒖𝒓 𝒎𝒂𝒓𝒌𝒆𝒕𝒊𝒏𝒈 𝒂𝒏𝒅 𝒍𝒆𝒂𝒔𝒊𝒏𝒈 𝒔𝒊𝒅𝒆 𝒂𝒏𝒅 𝒑𝒆𝒏 𝒂𝒏𝒅 𝒑𝒂𝒑𝒆𝒓 𝒐𝒏 𝒚𝒐𝒖𝒓 𝒎𝒂𝒊𝒏𝒕𝒆𝒏𝒂𝒏𝒄𝒆 𝒔𝒊𝒅𝒆.”
👉 “𝑴𝒂𝒌𝒆 𝒔𝒖𝒓𝒆 𝒕𝒉𝒂𝒕 𝒚𝒐𝒖𝒓 𝒆𝒏𝒅 𝒖𝒔𝒆𝒓𝒔 𝒂𝒓𝒆 𝒈𝒐𝒊𝒏𝒈 𝒕𝒐 𝒃𝒆 𝒂𝒃𝒍𝒆 𝒂𝒏𝒅 𝒍𝒊𝒌𝒆 𝒕𝒐 𝒖𝒔𝒆 𝒕𝒉𝒆 𝒑𝒓𝒐𝒅𝒖𝒄𝒕.”
See the full discussion: https://lnkd.in/egyQjg-U
These insights highlight a significant opportunity to close the tech gap in multifamily maintenance by focusing on solutions designed with technicians in mind—not just leadership.
AppWork’s upcoming advancements, including asset tracking, AI-driven troubleshooting, and enhanced training tools, are paving the way for greater efficiency and innovation.
This discussion underscores the broader evolution of PropTech and its potential to drive meaningful change across the multifamily industry.
𝑾𝒉𝒂𝒕 𝒂𝒓𝒆 𝒚𝒐𝒖𝒓 𝒕𝒉𝒐𝒖𝒈𝒉𝒕𝒔 𝒐𝒏 𝒃𝒓𝒊𝒅𝒈𝒊𝒏𝒈 𝒕𝒉𝒆 𝒎𝒂𝒊𝒏𝒕𝒆𝒏𝒂𝒏𝒄𝒆 𝒕𝒆𝒄𝒉 𝒈𝒂𝒑?
#CREtech2024#PropTech#MultifamilyInnovation#AppWorkLeadership#MaintenanceTech#EfficiencyMatters
At CREtech 2024, Dani Black, CRO of AppWork, shared valuable insights into the evolving PropTech landscape, sparking important conversations about multifamily operations.
Two key takeaways stood out:
👉 “𝑺𝒐𝒎𝒆 𝒐𝒇 𝒕𝒉𝒂𝒕 𝒊𝒔 𝒋𝒖𝒔𝒕 𝒌𝒊𝒏𝒅 𝒐𝒇 𝒘𝒊𝒍𝒅 𝒕𝒐 𝒎𝒆 𝒕𝒉𝒂𝒕 𝒚𝒐𝒖 𝒂𝒓𝒆 𝒖𝒔𝒊𝒏𝒈 𝒇𝒖𝒍𝒍 𝑨𝑰 𝒐𝒏 𝒚𝒐𝒖𝒓 𝒎𝒂𝒓𝒌𝒆𝒕𝒊𝒏𝒈 𝒂𝒏𝒅 𝒍𝒆𝒂𝒔𝒊𝒏𝒈 𝒔𝒊𝒅𝒆 𝒂𝒏𝒅 𝒑𝒆𝒏 𝒂𝒏𝒅 𝒑𝒂𝒑𝒆𝒓 𝒐𝒏 𝒚𝒐𝒖𝒓 𝒎𝒂𝒊𝒏𝒕𝒆𝒏𝒂𝒏𝒄𝒆 𝒔𝒊𝒅𝒆.”
👉 “𝑴𝒂𝒌𝒆 𝒔𝒖𝒓𝒆 𝒕𝒉𝒂𝒕 𝒚𝒐𝒖𝒓 𝒆𝒏𝒅 𝒖𝒔𝒆𝒓𝒔 𝒂𝒓𝒆 𝒈𝒐𝒊𝒏𝒈 𝒕𝒐 𝒃𝒆 𝒂𝒃𝒍𝒆 𝒂𝒏𝒅 𝒍𝒊𝒌𝒆 𝒕𝒐 𝒖𝒔𝒆 𝒕𝒉𝒆 𝒑𝒓𝒐𝒅𝒖𝒄𝒕.”
See the full discussion: https://lnkd.in/egyQjg-U
These insights highlight a significant opportunity to close the tech gap in multifamily maintenance by focusing on solutions designed with technicians in mind—not just leadership.
AppWork’s upcoming advancements, including asset tracking, AI-driven troubleshooting, and enhanced training tools, are paving the way for greater efficiency and innovation.
This discussion underscores the broader evolution of PropTech and its potential to drive meaningful change across the multifamily industry.
𝑾𝒉𝒂𝒕 𝒂𝒓𝒆 𝒚𝒐𝒖𝒓 𝒕𝒉𝒐𝒖𝒈𝒉𝒕𝒔 𝒐𝒏 𝒃𝒓𝒊𝒅𝒈𝒊𝒏𝒈 𝒕𝒉𝒆 𝒎𝒂𝒊𝒏𝒕𝒆𝒏𝒂𝒏𝒄𝒆 𝒕𝒆𝒄𝒉 𝒈𝒂𝒑?
#CREtech2024#PropTech#MultifamilyInnovation#AppWorkLeadership#MaintenanceTech#EfficiencyMatters
📊 New report released! The State of Commercial Property Management Technology, 2025: https://co.jll/3CacT6CBuilding Engines, a JLL company, partnered with BOMA International to survey 370+ CRE professionals on the future of proptech.
🔍 Uncover game-changing insights:
- Tech investment trends shaping the industry
- AI's transformative impact on daily operations
- Cutting-edge solutions for tenant engagement
- Tech-driven sustainability strategies
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- Exclusive data from industry leaders
- Actionable strategies to stay competitive
- Future-proof your property management approach
Whether you're a property manager, owner, or CRE tech enthusiast, this report is your roadmap to success in 2025 and beyond.
Don't fall behind the curve. Gain the knowledge to lead in the rapidly evolving CRE tech landscape
#CRE#Proptech#RealEstateTech#FutureOfCRE#PropertyManagement#CREResearch#BuildingEngines
These are the traits that define the most successful real estate tech companies today:
🌍 Global Reach: Expanding across markets to create real impact.
🚀 Innovative Solutions: Developing tech that adapts to an ever-evolving industry.
🤝 Strong Partnerships: Building trusted networks that amplify success.
🎉 Community-Driven Events: Engaging the industry with events that foster collaboration.
🔮 Future-Focused Strategies: Preparing for tomorrow’s challenges with forward-thinking approaches.
Look closely, and you’ll find the leaders in real estate tech prioritise these traits. At REACH Australia and New Zealand, we’re committed to guiding proptech companies through each of these pillars of growth.
Explore more on our website: reachau.com.
Share your thoughts on what’s next for real estate tech below!
#RealEstateTech#Innovation#reachnewheights#reachforthestars
Why should you care about proptech innovation as a property manager?
Keeping your finger on the pulse of #innovation can help you gain a competitive edge. The most tech-savvy property teams are more likely to experience:
- Increased operational efficiency
- More revenue
- Higher occupancy rates
Here are the areas of #proptech that you should keep an eye on: https://lnkd.in/gcrQT9XD
Excited to join the #CEEPropertyForum in Vienna for the panel, “Tech-driven real estate – Embracing the proptech evolution,” alongside industry leaders like Jan Hroncak, Katerina Kuliskova, Markus Schmut, Sergii Stoliarchuk, and Artur Łeszczyński.
Moderated by Zoltan Kalmar, MBA from ProptechZoom, this conversation will dive into some challenging but essential questions:
➡️ Why has real estate’s tech adoption been historically slow?
➡️ What does it take to create a tech-savvy culture within traditional real estate companies?
➡️ Does digitalization mean a more transparent industry – and is the market really ready for it?
I’ll also share insights from our journey at Bright Spaces, where we’re transforming how properties are marketed, explored, and leased with our bespoke #3DDigitalTwin platform. Our platform creates a smoother path from exploration to decision-making and makes property management smarter and more accessible.
If you’re in Vienna on November 25-26 and want to discuss how Bright Spaces can streamline your #leasing process, reach out—I’d love to connect!
Property Forum Events & News
Integrating proptech solutions doesn’t have to be a daunting task! For multifamily professionals, overcoming challenges in proptech adoption is key to staying competitive in our ever-evolving market.
By recognizing common hurdles, you can implement practical tips that ensure a smoother transition to innovative technologies. Start by prioritizing clear communication with your team and providing training to ease any fears about change. Setting realistic timelines and goals can also help keep the integration process on track. Remember, embracing these advancements is essential for the future of our industry.
Don’t let challenges hold you back from reaping the benefits of proptech. Ready to take the next step? Schedule a demo today, and let’s make proptech work for you!
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#PropTechIQ#DataDrivenDecisions#ImpactAnalysis#PropTech#MultifamilyManagement#SmartInvestments#TechConfidence#RealEstateInnovation
Director of Strategy & Operations at Beaumont Bailey | Mini MBA Alumni | Leadership Development & Executive Search
6moLove the edit and love the informative discussion points - thanks to all for contributing!