The Realcomm Solution Provider Community: Leaders In the CRE Tech / PropTech / Real Estate Innovation Discussion
For anyone in the Commercial, Corporate and Institutional Real Estate market, it isn't news that our industry has seen a massive influx of technology solution providers since 2009. Phase 4, as we call it, began directly after the economic meltdown of 2008 and was fueled by the excessive amount of capital that was looking for a home as a result of historically low interest rates.
A consensus, of those following the Real Estate Technology, PropTech and CRE Tech industry, place the number of companies selling some form of technology solution to the built environment industry at around 3,000. This number is significantly higher than any other time in history. The debate taking place right now is whether this truly is the "new normal," something we have heard before, or if a correction is coming.
With all this talk of new companies in the industry, we wanted to take a moment to better understand the solution provider community that has historically engaged, and continues to engage, with Realcomm and all its associated activities.
It is important to note that our vendor community includes companies that are over 30 years old, those started five to seven years ago, as well as companies started within the last six months. After taking a good look at these companies, we found some consistent qualities that might help the industry better understand who they are, what they do and why they may prove to be viable for inclusion in a real estate company's technology, automation and innovation strategy.
They Strive to Understand the Industry
Our industry, even though it always involves buildings, is comprised of a multitude of different business models. Commercial, Corporate, Office, Retail, Medical, Education – all reflect different business objectives and and need to be fully understood by those selling technology solutions.
Listening vs. Talking
So many inexperienced, and sometimes even experienced solution providers, are so excited about their solutions they forget to ask the prospect what problem they are trying to solve. Those companies that listen more than they speak will speed up the evaluation process.
Partnership vs. Sales
One thing we have consistently promoted within our community is the idea of partnership versus sales. With people busy and so much at stake, both vendors and clients need to embrace the concept of a legitimate partnership where they are working together to solve problems.
Ironman vs. 5K
One of the common mistakes made by new companies is timing. Many believe a great idea will transform the industry overnight. Budgets, forecasts and strategies need to be calibrated for the long term. Our industry requires the knowledge and trust that comes with time.
Understanding the Big Picture
It is one thing to develop a specific "automation sequence" and quite another to integrate that solution into an enterprise strategy. Communications with other systems, one version of the truth and cybersecurity are just a few of the strategic considerations that CRE tech solutions need to understand and consider.
With many companies, there seems to be a disconnect when it comes to engaging the marketplace. For new companies, they need to be everywhere, in every conversation, writing articles, constantly interacting with the industry. Limited engagement with building owners and operators is not an option.
I would personally like to recognize and thank the extraordinary Realcomm | IBcon | CoRE Tech | Webinar | CIO Forum | Advisory | Marketplace | EDGE Magazine community. You have invested in us over the last 20 years and have allowed us to be part of your journey. We have acted - and will continue - as an effective bridge, accelerating the authentic conversations needed with the building owners and operators before any technology solution can move forward.
We believe in our solution provider community and hope that the next 20 years are as productive as the last 20. Thank you again to all those companies, large and small, young and old, local and international, that have trusted us in the curation of this Real Estate Technology conversation. Your vision, innovation, discipline, hard work, tenacity and promise of the solutions you bring to the marketplace are critical to our industry as we continue to navigate in this Age of Acceleration.
This Week’s Sponsor
Yardi® develops and supports industry-leading investment and property management software for all types and sizes of real estate companies. Established in 1984, Yardi is based in Santa Barbara, Calif., and serves clients worldwide. For more information on how Yardi is Energized for Tomorrow, visit www.yardi.com.
UPCOMING REALCOMM WEBINARS
Technology and the Impact to a Commercial Real Estate Strategy – Innovators Weigh In - 10/3/2018
For today’s Commercial Real Estate CIO, new technologies continue to emerge that are changing the landscape daily. Long gone are the days where property management, budget and forecasting and e-mail are the only concerns. Today, digital transformation, smart buildings, occupant experiences, automated leasing, artificial intelligence, augmented reality and cyber are just a few of the new technologies impacting the role of CIO. This webinar will discuss the wide-ranging set of technologies changing the commercial real estate industry and more importantly, the types of strategies necessary to navigate at an ever-increasing speed. Hear from some of the industry’s most successful CIO’s regarding this “Age of Acceleration”!
Founder of Realcomm Conference Group, an education organization that produces Realcomm, IBcon and CoRE Tech, the world's leading conferences on technology, automated business solutions, intelligent buildings and energy efficiency for the commercial and corporate real estate industry. As CEO, Jim interacts with some of the largest companies globally pertaining to some of the most advanced and progressive next generation real estate projects under development.
Susan Gerock currently serves as VP, Information Technology and CIO for Washington REIT, a publicly traded REIT based in Washington, DC. She has over 20 years' experience in various technology roles spanning manufacturing, consulting, application service provider, and commercial real estate organizations. Her specialties include ERP selection and implementation, project and change management, and cybersecurity. She is also a proponent of the use of social media and the overlapping relationship between technology and marketing.
Phil Klokis is currently the CIO for the Public Buildings Service (PBS) of the General Services Administration. He is responsible for delivering Information Technology (IT) solutions and services supporting PBS' diverse real estate operations and portfolio management consisting of 1,500 owned assets, 9,000 active leased assets and nearly 350 million square feet of office space.
Ron Victor is a Silicon Valley based technology entrepreneur with 20 years of experience and expertise launching new ventures at start-ups and fortune 1000 technology companies. To-date he has enabled raising more than $30Million in start-up capital for multiple start-ups in silicon-valley. Ron has founded and led three companies to-date with successful exits. His latest venture is IoTium Inc. – a Silicon Valley start-up that provides a secure, cloud-managed, easy-to-deploy software defined network infrastructure for all IoT verticals.
Marc is a pioneer in leading the Intelligent/Smart Buildings and M2M movements pushing the industry forward and has contributed to transforming and changing the Intelligent Buildings and M2M (now IoT) industries. As Chief Marketing and Communications Officer for Lynxspring Marc leads corporate and product marketing, strategy, brand management, public relations and communications that support the company’s strategic and growth initiatives.
Scott Sidman has 14 years of CRE technology experience leading sales and marketing efforts. He is responsible for supporting company growth goals and assuring company and product direction aligns with market needs as well as leads. Scott is CRE tech evangelist and host of a CRE Tech Talks podcast.