Built-ID’s Savannah de Savary made a very sage point in the latest episode of EG’s TechTalk Radio podcast. We should stop being so hard on the property industry when it comes to the adoption of tech.
Listen to the latest episode of TechTalk Radio
“We are not encouraging the property industry to want to get involved with tech if they are constantly being condescended to and told they are so old and such dinosaurs,” she says. “That would not encourage me to want to meet proptech start-ups.”
This is why EG, which some out there – given our status and history – might also have considered a dinosaur, will not blast (too much) the industry for not always getting it when it comes to tech. It is also why, as you will see from both our front and back covers, we are fully committing to help the industry with its understanding of, access to, and adoption of all things tech.
There is no denying that tech will completely transform the industry in which we operate. But transformation does not necessarily mean disruption and, actually, disruption doesn’t have to be a bad thing.
Tech innovation does not mean we will be replaced by an algorithm, but it does mean we will be enabled to do so much more – from delivering more to our clients, to understanding and predicting markets more accurately. And when we get it, we will be able to do that much more quickly and much more easily. That sort of disruption sounds pretty good to me.
But there is a learning curve and property is on it. By its nature, technology changes quickly, making this particular curve a steep one. Fortunately, EG is here to help you keep up.
This week we met Brad Greiwe and Brendan Wallace, the founders of Fifth Wall, the $212m Los Angeles-based fund set up to invest exclusively in proptech, to talk to them about the whys, the whats and the what-nexts. We also had a look at what the growth of the tech sector is doing to lease lengths and what that means for the built environment.
And in case you have missed our front cover, EG has teamed up with Pi Labs and CBRE to showcase some of the most exciting proptech start-ups in the sector. As well as offering them the opportunity to pitch to a panel of high-profile investors and tech experts for the chance to secure £150,000 of investment from Pi Labs, the initiative will give the traditional property industry a chance to see the tech that can and will transform this industry at a fledgling stage, and maybe seize an opportunity itself. Click here to find out more.
Flip to the back page and you will see that we are also hosting a number of TechTalk Live events, opportunities to learn from and meet the real experts, beginning with our event on 15 September, which focuses on the tech investor.
So, despite the perennially smug look that any accompanying mugshot to these words may suggest, there is no condescension here, just encouragement to learn, adopt and enjoy the innovation and excitement that tech is bringing back to real estate.
To send feedback, e-mail Samantha.McClary@egi.co.uk or tweet @Samanthamcclary or @estatesgazette
