NEW YORK, NY – NavigatorCRE, the leading-edge commercial real estate (CRE) data analytics and visualization SaaS platform, participated in several sessions at CRETech NYC on October 12 and 13 in New York City. Sara Rafferty moderated a panel discussion with Lisa Picard, Partner, Sway Adventures and Mollie Fadule, CFO and CIO, JPI. This panel discussion highlighted the best proptech solutions for Operators, what it takes for a platform to scale and become adopted and, looking forward, what should be built next as commercial real estate is shifting and tech demands are evolving.
In this panel, the women discussed how the proptech market is full of opportunities. A key topic of this discussion focused on the amount of volatility in commercial real estate and how technology can reduce that, simplifying the consumer experience. It is inflation that is causing markets, such as capital markets, to deteriorate and technology can be a valuable tool as the market is changing so rapidly.
“Technology is going to be a core need of the real estate industry from an implementation standpoint,” commented Lisa Picard. “Commercial real estate is a very fragmented space, and there are a lot of opportunities for technologies to integrate with each other.”
The panel also discussed that while there is such an influx of growth in the industry and an increasing number of proptech companies, it does not necessarily mean these are all high-quality solutions. However, it is important to find the right one and take the time to implement new technology in your company properly. All three women noted the importance of buy-in when implementing new technologies. A company may bring in what appears to be the best tool to exist, but if the team does not buy into it, it is not going to be the right fit.
Lisa Picard emphasized the importance of having the old tool run side-by-side with the new tool as you go through the process of learning and implementing so that employees can see how they compare and how the new technology is going to benefit them. Sarah and Mollie both mentioned how there is also a culture change in your company when a new technology is being implemented. To get ahead of that, it is important to establish a culture in your company that is supportive of change and innovation.
To conclude the panel discussion, Sara of NavigatorCRE emphasized the need to reduce friction in the commercial real estate industry and how this can be done by identifying problems and creating solutions. There is a way you can service the customer and also reduce friction. The women also highlighted the increased amount of opportunity in the capital markets space for proptech. On a final note, Mollie Fadule emphasized her passion for affordable housing and moving towards a greener space. She noted that there is an opportunity for investment in creating building technology that can plan better and build better to create more affordable housing.
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