Survival Of The Richest- Real Estate's Technology Arms Race.pdf

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9/18/2017 Survival Of The Richest: Real Estate's Technology Arms Race 1/30 TECHNOLOGY Survival of the richest: Real estate’s technology arms race Hacking a new future one funding round at a time BY AMBER TAUFEN ! TODAY 10:36 A.M. Download PDF A homeowner thinking about selling starts searching for local home value information online and stumbles across an iBuyer platform — one that will let the prospective seller offload the property in a specific and exact timeframe. Meanwhile, a renter across town starts browsing for a bigger place and finds a wealth of information on rentals and entry-level homes for sale, all available on a real estate portal. And the real estate agent who services either buyer or seller (or both) uses an array of technology products to do his job — from lead management tools to platforms that power his website to transaction management streamliners — even as the broker who oversees him uses office management software and probably uses technology to check in on her agents, too. Welcome to the world of real estate services in 2017, where just about every aspect of the process, from lead generation to close, involves some kind of technology. And that’s not looking likely to change: Investment in real estate technology is up so far this year from last year, which means people on Wall Street who know how to make money (and lots of it) are increasingly seeing opportunities in real estate technology services — to the tune of billions of dollars. That’s not entirely surprising, considering that the global real estate value is estimated at $217 trillion, per CB Insights, and residential real estate accounts for $162 trillion of that amount.
9/18/2017 Survival Of The Richest: Real Estate's Technology Arms Race 2/30 It makes perfect sense, therefore, that there are quite a few tech companies trying to acquire some of those dollars by providing products or services to real estate agents, brokers, brokerages and franchisors — or consumers. What kinds of products are included in the real estate technology landscape? How much of their funding is invested, and how much of it comes from agents and brokers? Where will we see the most growth in the next few years, and which verticals seem to be simmering down? Inman dug into the numbers, researched the investors, surveyed readers and interviewed experts to try to figure out the answers to those questions. Here are our findings. What falls under the ‘real estate technology services’ umbrella? There are several different types or categories of products that can be considered part of the real estate technology services family — and not surprisingly, some of them are more attractive to investors than others.

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