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Commercial Real Estate Pro Network

Commercial Real Estate Professionals who work with Investors, Buyers and Sellers of Commercial Real Estate. We discuss todays opportunities, problems & solutions in Commercial Real Estate.
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Now displaying: Page 1
May 9, 2023

J Darrin Gross

I'd like to ask you, Greg Brooks, what is the Biggest Risk?

 

Greg Brooks  

For me, I think it's the pace of how quickly technology is changing how quickly global workforces is changing. And I think it's a risk, especially in the real estate space, for those that are still trying to operate the same way they were in 1995, or two, even 2005, or even 2015. What we've seen a lot both on the technology side, obviously, US servicing on the staffing side, providing a virtual option. I mean, just like everything, the decisions that you have to make as a business operator are just accelerating, you have to make them faster, there's a new software and new technology, a new tool, a new resource out there every second every trade show every corner. So having an effective way to vet those to find the ones that are going to work for your business and are going to fit, but then also getting people on boarded into them and changing existing policies and procedures and processes and weigh the ways that you operate to be more efficient, it takes a ton of human capital. So that's something that I see I know, even just within our company, you know, in a short time becoming as big as we are, you know, that that that the evolution of technology and say a lot of the podcasts that I listened to AI is kind of the word of the here already, you know, 25 days into January. And I think that puts a lot. I mean, it puts a lot of risk on the owners in terms of making the right choices, finding the things that are going to last and actually take you to the next level and which of the things are kind of fly by night, you know, not not as good as as advertised. So I see ICT technology and then that globally expanding workforce, you know, really becoming something that especially in the real estate world, people need to be aware of and be talking about consistently, in order to make sure that you don't get left behind because I guarantee your competitors. They're making sure they're not going to be left behind either.

 

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