Emerging Trends 2016.
Real estate has gone beyond the digital tipping point. The sector is gathering momentum towards rapid and wide scale transformation, driven by both real estate technology and a responding wave of innovation investment with both residential and commercial brokerage firms.
The challenge for real estate is to understand the technologies that are reshaping and will continue to reshape the future and how to strategically invest towards the future. The way residential and commercial brokerages think about management of the built environment is already changing dramatically. Residential and commercial brokerage services are also empowering themselves with technology, allowing them to work more effectively and deviate from traditional working hours and practices.
To leverage future technologies effectively and competitively, real estate firms need to decide where they intend to differentiate. This differentiation strategy will create a paradigm to define investment. When this direction is in place, real estate firms will understand their own technology adoption landscape. Currently, real estate firms are pursuing competitive advantage through three paradigms:
- Enhancing and extending enterprise efficiency through technological transformation
- Improving customer propositions for greater revenue
- Changing culture by providing resources to increase performance