|
|
|
Get with the (Tech) Program, Realtors Told
|
Business New Haven
3/4/2002
By:
Lisa Micali
|
Scores of real estate professionals from Connecticut and New York descended on downtown Stamford on Valentine's Day for the third annual Stamford real estate conference to hear industry leaders proclaim that the time is ripe for real estate firms to embrace technology - especially solution applications that can offer immediate results.
The conference, entitled “E-volution of the Commercial Real Estate Transaction,” presented a panel of leading industry experts on the development of online transaction platforms.
The conference was sponsored by the Connecticut chapter of the CCIM (Certified Commercial Investment Member) Institute, the University of Connecticut Center for Real Estate & Urban Economic Studies and the state chapter of International Development Research Counsel (soon to be CoreNet Global).
Joseph Rubin, director of Ernst & Young's Real Estate eBusiness Solutions Group opened the conference by discussing the growth of Web-based solutions in the real estate industry after the hype of the Internet.
“In the last few years,” explained Rubin, “we've passed through [four] phases: hysteria, anger, quiet after the storm and rational exuberance. We're now in-between the 'quiet after the storm' and 'rational exuberance.'”
Those involved in the commercial real-estate industry don't always grasp the implications of the wired world, noted Rubin, or how it might impact their business. “Those who embrace it are the ones who stand to experience significant growth,” he said. “Ten years from now we'll all be amused that we even had a conference on this subject.”
Other panelists from solution providers such as Netstruxr, Workplace IQ, Mortgageramp.com and Studley Inc. asserted that the technology revolution has simply been delayed - not shelved.
“I'm very bullish on what technology can do for the industry,” Rubin says. “I predict 2002 will be the year of adoption. Each day, the real estate industry performs costly and inefficient processes that demonstrate the need for technology-enabled performance improvement. The industry is highly fragmented and data-intensive - an ideal sector for Web-based solutions that can really deliver on their true promise: greater efficiency leading to bottom-line revenue enhancement and cost reductions.”
The recent softening in real estate markets nationally adds a sense of urgency to technology initiatives.
“Incremental improvements,” said panelist Richard Podos, senior vice president for business development at Netstruxr.com, a company that has created an online transaction platform, “can go a long way in providing a real benefit to your client. We're working on streamlining business processes to help real estate professionals reduce costs, improve communications with customers and, perhaps most importantly, get better control over their operating data.”
Web-based technology can be used for property and facilities management, procurement, leasing and more. Noted Rubin: “There are many opportunities to move the processes in the real estate business online and the answer will be different for every company. The whole story here is really curing 'points of pain' in your business and different companies have pain in different places. Therefore, different companies will have different priorities.”
CCIM officials deemed the conference a success.
“I'm excited that so many people were able to hear about the significant benefits about technology and how its impacting the real estate industry,” said Wayne D'Amico, president of the group's state chapter. “[The excitement] is about making our business more efficient and more profitable in the short term, not the long term.”
|
Go FirstGo PreviousGo
NextGo LastGo
to Index
|
|
