The new age information technology is transforming established institutions and opening up new venues, as many traditional real estate activities can be delivered more quickly and with more efficiency through Innovative, Enhancing, and/or Disruptive Technology,
How the real estate community engages with Innovative, Disruptive, and Enhancing Technology will determine the success or failure of company wide tech adoption.
Here is how to classify the real estate tech scene.
- The application of better solutions that meet new requirements and/or inarticulated market needs.
- Examples of Innovative Tech: Compstak, 42Floors, PivotDesk
- The creation of new applications that increase or improve the quality or value of a process.
- Examples of Enhancing Tech: Hightower, View The Space
- A process or platform that helps create a new market place, value network, that eventually disrupts an existing market.
- Examples of Disruptive Tech: Airbnb, Kisi, Zillow, Floored