Commercial real estate firms have traditionally lagged in embracing new technologies, but technology is disrupting the industry. Real estate companies need to lead clients in investing in infrastructure and transforming business models for the digital age. However, a new report found that only 20% of real estate CEOs understand how technologies like robotics and AI can improve customer service, compared to 47% of other industry CEOs. While most real estate leaders are behind on technology, the article notes that one in five have recognized its importance. It suggests working with a technology-focused real estate firm like Vestian to make smart property decisions and create modern workplaces.

1. Does Your CRE Provider “Get” Tech? Probably Not
August 13, 2018 Vestian Global
Rapid advances in technology have disrupted many organizations across the globe – especially commercial real
estate. It’s not surprising, Commercial real estate firms have been known to be lagging when it comes to embracing
technology, urbanization, and social changes. Real estate firms need to be a catalyst for change, influencing
organizations to invest in business infrastructure, redesign spaces and transform their business models to become
more competitive within the global marketplace. Those that occupy real estate – whether office, retail, industrial or
institutional – have the opportunity to leverage a lease expiry, property acquisition, refinancing or redevelopment to
drive change.
Here’s what really interesting.
According to a new report from PwC, real estate chief executives, particularly in large firms, are less likely than their
peers in other sectors to hire the right people to adapt to the changes brought about by technology. For example, only
20 percent of real estate CEOs said they clearly understand how robotics and artificial intelligence can improve
customer services, compared with 47 percent of all CEOs. So four in five leaders in our sector are not up to speed
on technology that increasingly drives building performance and supercharges human productivity.
The good news is that one in five real estate CEOs got the memo. To tap into the benefits promised by smart
technology, corporate real estate leaders should look beyond the cookie-cutter approach of big monolithic service
providers.
It’s time to bring in a firm like Vestian that’s built to serve occupiers, make smart real estate decisions and create
state-of-the-art workplaces.