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4 Ways Technology is Changing Real Estate

September 20, 2016 Leave a comment

 

Technology has been impacting real estate more and more in recent years, but the trend is only just beginning. Among those at the forefront of how tech intersects with real estate is WiredScore CEO Arie Barendrecht, who we caught up with to learn about four types of firms changing the industry through technology. Arie will be among the speakers at Bisnow’s Future of Real Estate event on July 14 at the Ritz-Carlton Boston.

1) Simplifiers
Arie tells us these companies unlock value for landlords by taking complex ideas or activities and making them simple and transparent. He puts his company into this category, WiredScore’s connectivity rating service helps building owners and leasing agency teams get a clear picture of the internet connectivity in their buildings.

Brokers are not always known for their technological prowess, so this creates a distinct advantage in helping them discuss connectivity smartly and efficiently with prospective tenants and brokers, and drive leasing.

2) Insight Drivers
Arie categorizes insight drivers as technologies that help to inform and improve real estate decision making. Real estate information databases such as Reonomy are a good example of this.

These platforms bring together many forms of disparate data as well as advanced analytics tools to help investors, lenders, developers (etc.) to reach smarter outcomes. Another example: as the category of Internet of Things products continues to expand, Arie believes the winning companies will be best at coupling sensor data with analytics to support better decision making.

3) Enablers
Arie tells us this category includes technologies that transform manual or painful activities that plague commercial real estate professionals and drive value by making those activities more efficient.

This usually involves automatizing tasks and supporting mobility. Successful firms such as VTS and Hightower could be considered enablers because of the efficiency they bring to the leasing process for brokers. In addition, a company like Honest Buildings would fit in this category, as it helps construction teams centralize procurement activities and evaluate project progress, generate reports, exchange documents and more.

4) Disruptors
These are the big innovators. These firms usually deliver technologies that are not just incrementally improving upon existing ideas but instead are creating an entirely new way of conducting all types of business. One of the most exciting technologies in this space is augmented reality.

Arie tells us if you haven’t tested an Oculus Rift or watched a Magic Leap demo, you should and you will understand just how big this is for the business as it directly impacts the way we interact with the built environment.

The story originally appeared on the Bisnow website. 

About The Sundance Company
Established in 1976, The Sundance Company has the experience to help you with your commercial real estate needs throughout the Boise Valley. If your requirements include property management, leasing, real estate development, project planning, construction or space planning then look to us. The Sundance Company has more than 1.5 million square feet of office and industrial space available in prime locations in the Boise metropolitan area. More information is available at www.sundanceco.com or 208.322.7300.

 

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5 Ways To Attract and Retain Millenials

September 13, 2016 Leave a comment

 

I’m too “long in the tooth” to be considered a “millennial” (the much-maligned generation of young professionals entering the workforce today), but I have worked with, supervised, and hired enough of them to have some measure of sympathy, understanding, and respect for these people.

Older workers and employers bemoan the perceived lack of work ethics, contempt for a veteran employee’s experience, and the fact that they feel entitled. But mostly older workers don’t like that “they’re not like us.” It’s true millennials’ upbringing was a lot different than that of the Baby Boomers or the Gen Xers, (for example, Millennials were the first generation raised in daycare centers and with unprecedented access to technology that blew the rest of our minds.) The Baby Boomers are rapidly leaving the work force en masse and soon the Gen Xers are going to join them, so if you want your business to survive you had better make your peace with the younger generation. Here are some ways to attract and retain the best talent.

Offer student loan debt relief.
There was a time when all the top companies offered tuition-assistance; this wasn’t magnanimity — many of the Baby Boomers found themselves displaced from jobs that didn’t require a degree and were forced to take jobs where their lack of higher education would impede their success and growth. The companies responded by helping out with (in many cases generous) tuition assistance programs. Today’s young workers are over-educated yet burdened by crushing student loan debt. A program that provides Student Loan Debt Relief is likely to be popular and will keep the worker at the job as long as the aid and the debt remain.

Let them work remotely.
Old-school supervisors freak out at the thought that their workers might not be under their constant watchful eye — even though they are in so many meetings that they seldom see their employees anyway.

I personally work from my home in a suburb of Detroit, assigned to an office based in Holland, MI (four hours away), for a company based in London, England. I am leading a team of professionals from Canada and the UK. The fact is, once the new employee is properly oriented to the work demands and expectations there is really little reason to keep them chained to desks. One large healthcare system lets its IT group work from home one day a week and is moving towards a two-day a week system.  People like it and tend to get more work done and work longer hours without the having to commute.

Give them gadgets.
Tablets, smartphones, and laptops are practically cybernetic attachments to this generation. What’s more, these devices help them stay connected to coworkers and supervisors.

Restore the 40-hour work week.
Younger workers grew up watching both parents work around the clock, miss soccer games and dance recitals, and cancel weekends and vacation for work, only to be forced to take unwanted “furlough” day before seeing salaries cut and finally their job eliminated. Many young people aren’t prepared to show loyalty, be worked like an indentured servant, and cast away.

Let them be social.
Young (and now many older workers) see nothing wrong with taking a break from work to post on Facebook, tweet something, or otherwise do something unproductive using the latest social networking app. You can choose to either accept that or loose your talent to a company that will.

The story originally appeared on the Entrepreneur website. 

About The Sundance Company
Established in 1976, The Sundance Company has the experience to help you with your commercial real estate needs throughout the Boise Valley. If your requirements include property management, leasing, real estate development, project planning, construction or space planning then look to us. The Sundance Company has more than 1.5 million square feet of office and industrial space available in prime locations in the Boise metropolitan area. More information is available at www.sundanceco.com or 208.322.7300.

 

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Common MythConceptions

September 6, 2016 Leave a comment

1276_common-mythconceptions_oct22nd

About The Sundance Company
Established in 1976, The Sundance Company has the experience to help you with your commercial real estate needs throughout the Boise Valley. If your requirements include property management, leasing, real estate development, project planning, construction or space planning then look to us. The Sundance Company has more than 1.5 million square feet of office and industrial space available in prime locations in the Boise metropolitan area. More information is available at www.sundanceco.com or 208.322.7300.

 

 

 

Categories: Uncategorized

Labor Day 2016 – What Does It Mean To You?

September 1, 2016 Leave a comment

labor-day-infographic

 

About The Sundance Company
Established in 1976, The Sundance Company has the experience to help you with your commercial real estate needs throughout the Boise Valley. If your requirements include property management, leasing, real estate development, project planning, construction or space planning then look to us. The Sundance Company has more than 1.5 million square feet of office and industrial space available in prime locations in the Boise metropolitan area. More information is available at www.sundanceco.com or 208.322.7300.

 

 

 

 

 

Categories: Uncategorized