1) These firms have proven their value to real live customers, raised enough capital to be around in years to come, and are making fundamental innovations to the business process in their respective domains. As such, each should be a household name in any CRE shop. However, we're both surprised by how frequently we get asked "Which real estate tech firms should I be watching??" We wrote this piece because most people read faster than we can talk ; D
2) Collectively, these firms represent a material change in the way our industry gathers data and how we use it to make decisions. Real Estate Data 1.0 was collected primarily via warehouses of analysts calling owners, brokers, and looking up public records one by one. Each of the teams we covered has a 2.0 approach - each gets some, if not all, of their data in from customers and aggregates it to create unprecedented visibility into the markets they cover. This method is fast and relatively inexpensive. The information these teams publish is easy to use. That means that a relative newbie to Real Estate can access gobs of information which used to be the exclusive purview of professionals who'd put in their time (...often decades of it).
That matters for Real Estate professionals because this has happened before. And when it's happened, it's turned the subject industry upside down.
Full text of the article below. As always, welcome your comments, questions and ideas.