The Yeti Invades CRE // Tech Intersect
Representatives of the Preparis team flew up to New York City last week to attend CRE//Tech Intersect, an event dedicated to bringing together the people responsible for innovating commercial real estate and pushing it forward. We are proud to have been a participating sponsor of this successful event, with over 40 companies and over 200 people in attendance. In between Yeti photo-ops, product demos, and the speaker panels we had some important observations:
The CRE//Tech community is growing and relevant. Pierce Neinken hosted the first CRE//Tech Intersect in San Francisco in June. In just a few short months, he hosted another in NYC and doubled the attendance. The momentum of CRE//Tech is increasing at a quick rate, in size and funding therefore allowing CRE professionals the opportunity to leverage the technology that is designed to make them more effective.
It’s all about the people. And boy, are they connected! CRE practitioners, venture capitalists, angel investors, and other CRE//Tech companies quickly filled the space at 229 West 43rd. The noise level even became a problem (is that really a problem or just a sign of passion?). This group of people is eager to learn more about each other as well as the industry. We had the opportunity to meet Coy Davidson and Duke Long who are great at connecting people in the CRE industry through their Twitter accounts and blogs. Check them out!
Obvious is good. From a tech product design perspective, it needs to be obvious to investors and potential customers alike that the service is actually innovative. The service needs to be a simple and easy-to-use platform; one that takes real time out of the process. It should be obvious who the service is actually for. The Technology Leaders Panel did an exceptional job of making these points clear.
Collaborative v. Competitive. It goes back to the people. By developing relationships and working connections, members of the industry are able to work together to solve today’s problems of commercial real estate. Share ideas, introduce connections, and collaborate on all fronts. Their potential customers are often the same, but these companies within the CRE//Tech world do not behave as if they are in competition with each other. These thought leaders are the who’s who of the industry and are part of this cutting edge movement.
The demand for CRE technology is exploding. Certainly all of these people would not be getting together and working so hard without a reason, right? The commercial real estate industry is changing because there is a driving force that is making it do so. Whether its tenants, building owners, or brokers – the customer wants more. Investors see the opportunity so they’re quickly becoming involved as well. With the demand for innovation and the people behind the scenes willing to do the work, this industry won’t look the same in a year’s time. This movement has attracted the attention and involvement from major players such as Thomas Byrne, Ashkán Zandieh, and Zamek Zu’bi.
We were proud to be the only life safety tech company at the event. We look forward to the next CRE//Tech Intersect!