Chicago TechTools: Technologies Serving CRE Transactions

A panel of experts discussed technology that was enabling and augmenting commercial real estate transactions at the DisruptCRE event in Chicago. The technology discussed centered around ways to stay competitive, and adaptive to new expectations both in terms of business to business transactions and the demands of consumers.

The panelists included:

  • Moderator: Tanner McGraw, Founder & Chief Strategy Officer – Apto
  • Dan Spiegel, EVP, US Operations – Colliers International
  • Pushpa Gowda, Global Technology Engagement Director – JLL
  • Karin Kraai, Senior Managing Director – Newmark Knight Frank

Why do you think the professionals are spending their time money effort in technology?

For Kraai, the answer centered around staying competitive.

“If we’re not growing or dying so we all have to grow personally professionally but our companies do so commercial real estate tech gives us that opportunity to do so there’s tools that help us operate faster quicker and better which will improve all of our bottom line.”

Spiegel discussed how much of tech adoption came from “a desire to advance but it’s also coming both from the occupiers and the investors in real estate sort of asking the service providers to change and offer something different.”

Gowda emphasized how often, real estate providers are trying to accommodate to expectations based on the convenience tech has delivered to personal lives.

“In our personal lives [tech is] everything,” Gowda said. “A lot of it is all about experience…experience in our personal lives, and how [you can] make everything as easy as possible and streamlined. It’s the same thing with commercial real estate.”

What Technology are you most excited to see mature? Where are you advising people to spend their time and money?

Gowda answered this question in terms of what she was looking forward to personally, and how the industry would change.

“Personal level I want the driverless car,” she said “Because my dream car is the one I don’t have to drive. From a commercial real estate perspective I think it is it’s not necessarily a specific technology it’s the employee experience everything is about employees feeling engaged empowered fulfilled.”

Spiegel was looking forward to a “seamless ecosystem that we deliver to our professionals, be them brokerage or property management evaluation, in more of a seamless way and less…[in] a chunky way.”