The commercial real estate industry may have been slow to adopt technology, but that is changing. From design to construction to sale to management, new tech solutions are being created, and venture capital has taken notice. KP Reddy, founder of Shadow Ventures, spoke with Institutional Real Estate, Inc. about some of the trends in the real estate technology market.
Why have real estate investors and operators been behind the curve when it comes to adopting new technology? How has that affected the industry?
Technology adoption has been slow for three main reasons. Primarily because the real estate industry is highly fragmented. Every building type has different needs. For example, technology products and best practices for multifamily may not apply to retail or commercial properties. Secondly, at the end of the day, most real estate is an investment asset. As an investor, I’m less interested in process improvement and highly focused on monetiz
