Check this out
A couple days ago, Duke Long posted a great rant about the future of search in the CRE industry.
As he normally does, Duke used his sharp tongue to lambast our industry for being so far behind current technology on search results. He tried to Google a specific building and wanted to see what the search results showed.
The results were unimpressive; especially compared to what you get if you type in your home address (Zillow, Trulia, et al).
Now, Uncle Duke and I don’t always see eye to eye and he certainly has a more confrontational tone than I like. But on this topic, I could not agree with him more.
Doesn’t it seem off that we have built infrastructure to find online a $50,000 homes in Racine, Wisconsin but lack the tech infrastructure to find online a $150,000,000 office building in Manhattan?
How do we fix it?
Well, I suppose CIEs (Commercial Information Exchanges) are the answer, but they have to be open to all searchers and the amount of information infrastructure to do that on a national scale is simply massive. I’m not saying it can’t be done. CoStar has done it (poorly).
It can be done. It needs to be done.
But by whom?
But there is no end-to-end solution for our lack of strong searchability.
So, if anyone is asking my opinion, I would say a true game-changing tech startup in CRE would be the one who can control the entire universe of search inquiries for a building (like Zillow does for your house).
Find that guy, and you will find the man set up to change our industry.
– Duke (the other one)