Name: David Freitag
Title: Associate, Tenant Rep – CBRE
Based In: Beverly Hills, CA
Fun fact: In 2012, I had the opportunity to compete in the ABC TV show Wipeout, and actually ended up winning!
How are the role of brokers evolving due to new technology and democratization of information?
The increased transparency in the residential real estate space (Redfin, Zillow etc) is playing a key role in spurring on innovation on the commercial side. The bar is continuing to be raised as brokers reinvent their business practices and services with tech driven solutions. Whether a firm is developing tech products in house like CBRE, or you are able tack on outside solutions as needed, leading edge tech adoption is a necessity to stay relevant in this space and continue serving clients at the highest level.
What are the tech products and services you consider must haves for your tech stack in 2018?
Many of the solutions we are using most are those that have been developed in-house: Dimension, Floored, Portfolio Optimizer, LaborView etc. This is not to say though that we aren’t frequently using outside solutions like Tableau, LinkedIn, Twitter, CoStar and VTS. It is quite rewarding to be working for a firm that is investing so aggressively in tech and innovation. On an annual basis, CBRE is doubling its spend on technology solutions, and I expect this investment to continue to grow even further.
What technology are you most excited to see developed in the future or mature in the market right now?
One of the areas that we are tracking closely is the continued development of driverless cars. Over the past 5-10 years in LA, we have seen an increased engagement of millennials moving to the more urban cores, explicating the concept of Live/Work/Play. Driverless cars, in my mind, would provide an alternative effect: an increased flexibility in transport and time where the concept of a commute and traffic would almost become negligible. One’s car would essentially be another free-form office. This could have the effect of further expanding the suburban markets as length of commute becomes less impactful. If companies like The Boring Co. or Hyperloop are able to deliver on their promises, this effect would become even more pronounced.