Insights Archive
by kurt ramirez
In the real estate world, anything that would require a person to be on-premise or require physical documents presents an opportunity for substitution.
The impact of a global pandemic is comprehensive in scale, and despite a government stimulus package, it looks like there is a long road ahead of us.
Venture-backed PropTech companies are driving commercial real estate into the digital age with strategies to build so many different products (hardware and software), services, and platforms...
...the PropTech space overall continues its evolution. According to CREtech, 2019 saw ~$30B+ invested in the PropTech space globally, keeping the annual trend of continuous record-breaking years of funding alive.
As 2019 comes to a close, it’s about that time for a slew of end-of-the-year summaries and trend reports. I quite enjoy them! So much so that I thought I’d write our own Nine Four Ventures version for the PropTech space.
...we do envision a world where startups build an agile software backbone that does have a differentiated cost structure and user experience that may unseat incumbent, traditional property managers themselves (the current customers of Yardi and RealPage).
From the short-term rental point of view, the positions that Marriott, Hilton, and other hospitality brands are taking with regards to home-sharing, consistency, and demand, indicate that professionally managed short-term rental companies could be on to something.
We believe that maintaining the status quo as it pertains to technology is not a choice if you want to be successful, and looking forward, we hope to be a catalyst to drive technological change and adoption in the industry.
Since so many industries collide with the built environment, monitoring the startup landscape can be daunting. To move up the learning curve the fastest, we believe firms new to the space should partner with those that already have the knowledge and networks in PropTech.
A trend that Nine Four is seeing is the increased prevalence of companies raising a ‘PropCo’ to support their legacy operating business (“OpCo”).
This week I had the opportunity to present some of the technology trends and companies we’re seeing for the Mortgage Banker Association in Washington DC.
WeWork is an example of a company that’s spent a ton of money on technology and acquisitions yet is still challenged daily on whether it’s actually a tech company.
We believe that Stay Alfred, and other short term operators, have a similar opportunity as WeWork and that master leasing units is just the beginning.
PropTech refers to products and services that impact the built world and the people, processes, and ecosystems that interact with it.
The traditional real estate operating model is also undergoing some evolution.
Taking advantage of your real estate as a sales channel requires knowledge, understanding, and the right startup pipeline.
This week I had the opportunity to speak at the CREtech conference in NY, and I think the experience I had at the event is representative of where the PropTech space stands at the moment: lots of momentum, lots of excitement, and a lot of unknowns.
“Space-as-a-service” is a term that generally refers to an asset-light business model that allows a consumer or business to rent space that suits their needs rather than going through a more traditional capital and time-consuming buy, build, and own process.
Given the implications that mobility has for real estate, we believe that real estate owners and operators should pay close attention to how mobility networks can impact the demand for properties
For a building owner to capture spend I believe they need to own a platform that their residents access those products and services through
I’ve sat in on a lot of meetings between industry players and startups targeting the residential real estate space. Something that surprises me is the frequency with which I hear the same pieces of feedback and “things you should understand” from industry professionals.
Predictive analytics is a sliver of a broker or agent’s technology stack, but it’s a very meaningful one. Winning business is the first step to success, followed by delighting a client to the point where they’ll refer you and drive more business.
t seems like there are a few camps of thinking when it comes to how technology is going to impact the residential real estate agent. One end of the spectrum is the camp believes that real estate agents will always be around and the things agents do aren’t going to change much.
Nine Four Ventures, a vertically integrated venture capital firm that invests in technology companies impacting real estate and its stakeholders across and between each phase of an asset’s lifecycle.
