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Data driven companies will deliver service focused real estate Interview with Richard Gerritsen
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here’s no doubt that technology has the power to transform the entire real estate value chain. Investors, asset managers, landlords, tenants and residents all need to be ready for this shift. The change will result in a closer relationship between investors and the end-users, eventually creating a better experience for everyone. On one level, it’s no surprise that the real estate industry is embracing new technology. After all, ordinary consumers now expect far greater levels of convenience as services like home delivery have mushroomed, allowing them to order virtually anything with a few taps of their smartphone. Real estate transactions, which are of much higher monetary value, should naturally offer end-users the same level of comfort, ease of use and accessibility. Richard Gerritsen, Regional Director Europe for Yardi, says: “Technology has a tendency to cut out the middleman and therefore the whole value chain will start to develop into something new. Operating models will be different, driven by automation. This means business and revenue models will also change.” As a firm, Yardi is a strong advocate for a single solution 6 | www.propertyfundsworld.com
approach and is investing heavily in this area. “We strongly believe having managers, external suppliers and tenants all working on the same platform will lead to a completely different experience of real estate,” Gerritsen says. Operationally, the difference will be fundamental. Gerritsen elaborates: “While currently, property managers, asset managers and investors each work in their own systems, a single platform approach means that operations will become much more fluid. Data will be accessed and utilised in a seamless way, but this is something that will happen over time.” It’s a transformation that will take place throughout the real estate industry and it is also resulting in buildings being viewed as a brand rather than just a physical space that’s simply leased. This is vitally important as companies choose their workplaces based on service and the environment in which they want their employees to work. Providing space as a service should be a fundamental part of a real estate strategy moving forward and deploying the right technology can help facilitate state of the art services that will successfully attract tenants. PROPTECH IN FOCUS | Jul 2021
