Technology, data, starting to transform commercial real estate: survey

CKWX | January 27, 2020

A new report says technology and data are finally shaking up the world of commercial real estate, allowing the industry to make more informed decisions and take on more complex projects. Toronto-based Altus Group says a majority of 400 global commercial real estate executives surveyed are now seeing the disruptive impact of technology on the property sector for the first time in the five years the real estate group has been conducting the survey. Altus CEO Bob Courteau says executives are starting to see that data, innovation and technology are going to be critical going forward, after some reluctance in the past to invest in areas beyond the bricks and mortar of real estate. The change is clear at the executive level, where 80 per cent of firms said they have a chief data officer or equivalent senior executive, compared with only 44 per cent four years ago. The increased data and efficiencies brought on by technology are allowing real estate firms to expand into growing spaces such as multi-family co-living, a sort of dorm-style arrangement with small private bedrooms and shared living and kitchen space, as well as co-working space and new models for retail. Altus says a wave of investment in startups focused on real estate tech, or proptech, has created a huge number of players and the sector is ripe for consolidation.

Spotlight

According to the UN study1, demographic shifts will fundamentally affect real estate demand. Urban population will increase by 75% – from 3.6 billion in 2010 to 6.3 billion by 2050. The analysis conducted by PwC2 states that during the period of 2012-2020 only the global institutional-grade real estate market will on average grow by 5.8% a year.


Other News
AGENT, REAL ESTATE ADVICE

RESAAS Wins PropTech Breakthrough Award for Second Year Running

RESAAS Services Inc. | September 09, 2022

RESAAS Services Inc., a technology platform for the real estate industry, today announced the Company has won the PropTech Breakthrough Award: Agent Match Solution of the Year for the second consecutive year. "RESAAS is proud to be recognized by this prestigious global award for a second consecutive year, showcasing the pedigree of our enterprise-grade technology platform, RESAAS continues to cement its position as the real estate industry's leading solution for Agents and Brokers to secure new business. By focusing on unique real estate data, RESAAS solutions provide unrivalled business value to the global real estate industry." -RESAAS CEO, Tom Rossiter The 2022 PropTech Breakthrough Awards received over 1,500 nominations globally. Winners alongside RESAAS include Rocket Mortgage, OpenDoor, Appfolio, and TenantBase. Submissions were judged on several critical characteristics including innovation, functionality, performance, ease of integration and ease of use. About RESAAS Services Inc. RESAAS is an award-winning global technology platform for the real estate industry. With over 500,000 real estate agents utilizing RESAAS in 160 countries, RESAAS enables real-time industry communication, delivers new business opportunities and captures unique real estate data. Some of real estate's biggest brands leverage RESAAS to provide business intelligence to real estate brokerages, franchises and associations.

Read More

REAL ESTATE TECHNOLOGY,REAL ESTATE ADVICE

McKissock Learning Will Launch Practical Applications of Real Estate Appraisal (PAREA) Experience Program

McKissock Learning | November 22, 2022

McKissock Learning, the leading national provider of online education for real estate appraisers, today announced its commitment to launch a Practical Applications of Real Estate Appraiser (PAREA) Experience Program to support the diversification and growth of the appraisal profession. “As a leading appraisal education provider, we know firsthand how difficult it can be for aspiring appraisers to find a supervisor and realize their dream, We believe this is a great opportunity to demonstrate our dedication to the profession with a critical initiative to ultimately contribute to a more diverse and expanded appraiser community.” - Kevin Hecht, Appraisal Training and Development Manager at McKissock Learning Slated to launch in the fall of 2023, the McKissock PAREA Experience Program combines technology-based training with real-world field experience and will allow participants to qualify for up to 100 percent of the experience hours required to sit for an appraisal exam in participating states. McKissock’s PAREA Experience Program is made intentionally for people who complete the required education only to find they cannot move forward in their goal of becoming licensed appraisers because they can’t find a supervisor, It is a powerful instrument to diversify and expand the profession, said Alan Hummel, Principal at The Hummel Group and certified appraiser for 35 years. Consistent with The Appraiser Qualifications Board (AQB) policies, McKissock’s PAREA program will allow participants to apply appraisal concepts and general principles to real-life situations, problems, and activities. Participants can access training modules, simulations, and assignments through McKissock’s dynamic learning platform, allowing for mentor-led and self-study activities. In addition to simulated learning experiences, McKissock will also require students to complete real-life personal experience activities in their local markets, such as inspecting properties in their area and verifying information with local stakeholders such as realtors, contractors, and lenders. Participants will be expected to author and produce appraisal reports on various property types, each of which must pass a mentor’s review and be fully compliant with USPAP standards. Our mission at McKissock Learning is to support the advancement, diversification, and growth of the real estate appraisal profession. We are committed to providing PAREA participants with quality training and practical experiences to enable them to become licensed and successful appraisers, said Renee Altier, President of Valuation and Property Services, Colibri Group, the parent company of McKissock Learning. About McKissock Learning McKissock Learning is a top national provider of education for licensed real estate property appraisers, agents, brokers, home inspectors, land surveyors, and professional engineers. For more than 30 years, McKissock has provided appraisal qualifying and continuing education, as well as professional development courses to support appraisers through all stages of their careers. McKissock Learning is part of Colibri Group, which provides learning solutions to licensed professionals who strive to be among the best in their fields.

Read More

MARKET OUTLOOK

JPAR® - Real Estate Named a Most Profitable Franchise of 2022 by Franchise Business Review

JPAR | November 01, 2022

JPAR® – Real Estate was identified by Franchise Business Review as one of just 50 franchise brands to be named an award-winning franchise in its 2022 report on the Most Profitable Franchises. JPAR® – Real Estate provides a hybrid model that offers a full-service experience to the consumer and continuous innovation that maps to business development coaching and consultative services through a supportive, industry-born leadership culture. "It's simple really; we don't waste money and we work with our owners to make sure they are running lean as well, Our cost savings are passed through in ways that add meaningful value to the partnership we have with our owners and agents. There are no sacrifices with JPAR." -Laura O'Connor, President and COO, JPAR® Franchising To identify the award-winning companies on the list of this year's Most Profitable Franchises, Franchise Business Review analyzed data from over 30,000 franchise owners representing more than 300 brands regarding their overall satisfaction with their brand and their likelihood to recommend it to others. Other factors include annual income of franchise owners and minimum startup capital requirement. Owner satisfaction, profitability, and long-term return on your investment are three of the most critical factors anyone should consider before investing in any franchise business, The companies on the list of the Most Profitable Franchises offer a better than average shot at growing your income and received the highest ratings on our independent franchisee satisfaction survey,said Eric Stites, founder and CEO of Franchise Business Review. According to Franchise Business Review: JPAR®'s most recent satisfaction survey was completed in April 2022 and includes feedback from 23 active franchisees. Major findings include: 96% of franchisees enjoy operating their business and being part of the organization; 87% of franchisees agree senior management encourages a strong team culture and cares about their success; recognition as a top recession-proof franchise; a top franchise for their culture, for profitability, and for their innovation; and, 100% of franchisees are likely to recommend JPAR® to others. We make it affordable for a broker owner and their agents to get everything they need to deliver high-quality service to their clients, We're proud that we have continued to offer better technology and more coaching and consulting this year at a time when many in this industry are pulling back on their promises of service and support,stated Chastity Davenport, Senior Vice President, JPAR® Franchising. About JPAR® – Real Estate: JPAR® - Real Estate and JPAR® Franchising is a full-service real estate brokerage and franchise platform offering a highly competitive transaction fee-based model and agent-centric culture. The JPAR® platform provides agents 7 day-per-week broker support, physical office locations, a comprehensive tech stack and open architecture, physical office locations, marketing, lead generation, training, coaching, mentoring and agent health care. The company boasts more than 4,000 agents operating in 65 offices across 26 states and closes more than $8B annually in sales volume. About Franchise Business Review Franchise Business Review (FBR) is a leading market research firm serving the franchise sector. FBR measures the satisfaction and engagement of franchisees and franchise employees and publishes various guides and reports for entrepreneurs considering an investment in a franchise business. Since 2005, FBR has surveyed hundreds of thousands of franchise owners and over 1,200 leading franchise companies.

Read More

REAL ESTATE TECHNOLOGY

Cherre Honored in the Most Prestigious Awards in Commercial Real Estate Tech for the Fifth Consecutive Year

Cherre | October 17, 2022

Cherre, the leading data integration and insights platform, today announced that it was selected as a finalist at the Ninth Annual Real Estate Tech Awards (RETAs) in the Mid Market Growth category, presented by CREtech, the world’s leading community of professionals devoted to technological innovation in the real estate sector. This is the fifth consecutive year that Cherre has been honored in this awards program, previously receiving RETAs in the Data, AI, Geospatial and Mapping, Information and Intelligence, and Mid Market Growth categories. This distinction from CREtech comes on the heels of a year of growth and expansion for Cherre. In Q2 alone, as public markets declined amid rising interest rates, Cherre bucked the trend by growing its ARR by 79% and its client count by 78% YoY. Additionally, Cherre’s expanded customer base increased Cherre-powered assets under management (AUM) to $2.9 trillion. Throughout the last year, the Cherre team has also forged several strategic partnerships with notable industry players, most recently including an alliance with Dealpath that enabled the two real estate tech players’ mutual customers to easily connect real-time deal pipeline and portfolio analytics data with public, private and other third-party data for deeper insights. Lastly, Cherre established an international footprint by adding building footprint data for the UK and Canada into CoreConnect. “We’re excited to add another RETAs recognition to our collection of industry awards, The continued recognition by the RETAs judging panel underscores the impact Cherre’s vision and technology have had on the real estate industry.” - L.D. Salmanson, CEO and co-founder of Cherre Cherre’s award-winning platform seamlessly connects disparate real estate data, enabling its customers to automate workflows, in addition to building out predictive analytics. With Cherre, customers can evaluate opportunities and trends faster as well as more accurately, while saving millions of dollars within the manual data collection and analytics costs. In partnership with Colliers, the Real Estate Tech Awards are the leading international awards honoring excellence in commercial real estate tech. The awards recognize the most cutting-edge companies that have played an integral role in advancing tech in the industry throughout the year. Backed by the leading voices and thought leaders in the commercial real estate tech industry, the awards were open to startups or technology companies servicing the industry. About Cherre Cherre is the leader in real estate data and insight. We connect decision makers to accurate property and market information, and help them make faster, smarter decisions. By providing a unique “single source of truth,” Cherre empowers customers to evaluate opportunities and trends faster and more accurately, while saving millions of dollars in manual data collection and analytics costs. Cherre launched in 2016 and is located in New York City. About CREtech CREtech is Reimagining Real Estate. We are the largest international community of professionals devoted to technological innovation in the real estate sector. Our mission is to help the industry embrace, adopt, and future proof its businesses. Our streaming, live/virtual events, and consulting platform inspires the next generation of ideas, processes, and people to champion the world's largest asset class.

Read More

Spotlight

According to the UN study1, demographic shifts will fundamentally affect real estate demand. Urban population will increase by 75% – from 3.6 billion in 2010 to 6.3 billion by 2050. The analysis conducted by PwC2 states that during the period of 2012-2020 only the global institutional-grade real estate market will on average grow by 5.8% a year.

Resources