Nancye J. Kirk ( firstname.lastname@example.org) is chief strategy officer at IREM Headquarters in Chicago.
president of Lennar International put it, “Evolve or die” because there is no protection
At the same time, because real estate is so fragmented, implementation of technology is all the more challenging, noted Shank. Large owners are embracing technology,
she said; not so with smaller owners, who either aren’t willing or able to participate
financially. She went on to say that real estate isn’t necessarily broken, but technology
is making it easier, better, more efficient. For smaller, Class B buildings, the need for
technology isn’t as strong, at least for now. But over time, this may change.
At the end of the day, what real estate wants from technology is fewer pain points
and more efficiency, to make business competitive, to support people where they live
and work and play. While keeping this in mind, Jan Hein Lakeman, executive man-
aging director of EDGE Technologies, warned against applying technology when it
doesn’t make sense. “Are we trying to find a solution for a problem that doesn’t exist?
It only works if it takes away friction.”
Technology should always be seen as a means to an end, not an end to a means,
noted Rechler. In the near future, technology will be available to everyone. Companies
won’t compete on technology; they will compete on implementation of technology.
Richler posited that “The secret sauce is in the execution.”
One example of
reducing friction is
easing entrance into
and security within
a building. Simply
translated, this means
but doing it without
turnstiles or other
visible and bothersome
Proptech makes our
clients’ lives much
more efficient, and it
helps us move from
industry to a service
SENIOR MANAGING PARTNER AND CHAIRMAN
OF BROOKFIELD PROPERTY GROUP