PW Perspectives: technology has solutions

This issue of Perspectives comes at a time of extreme change in the UK, with the Halloween Brexit deadline fast approaching and the increasingly real possibility of a general election not too far in the future.

Much like the UK, the real estate sector is in a period of transformation. Happily, though, this one isn’t rooted in uncertainty. Braced against the political headwinds, the industry is pushing ahead with its evolution and ensuring it is ready to bring forward the buildings of the future, whatever that future may look like.

Perhaps unsurprisingly, technology is at the core of this, which is clear in this edition’s essays. Where there are problems, technology has solutions.

About 30% of energy used in commercial buildings is wastage. Enter Yardi with its energy management platform Yardi Pulse, which gives users sight of exactly where energy is going and can even query incorrect utility bills.

In real estate law, it is widely known that transactions often take longer than they need to because of delays in the due diligence phase. The answer, according to Search Acumen and Bryan Cave Leighton Paisner, is getting AI to do it for you. “History tells us that those businesses that don’t embrace change will ultimately lose out. Digital technology in real estate is not a fad, it is the future,” write Caroline Robinson and Victoria Duxbury.

And proptech outfit Residently is using its app to connect landlords and property owners with residents, removing the friction and stress that so often put people off renting properties instead of buying them.

These are just a few examples of how the experts in this supplement are harnessing the digital revolution to fuel the real estate market. In a period defined by uncertainty and rapid change, one thing you can be sure of is that, when it comes to technology, you can’t afford to get left behind. Enjoy the read.

Emma Shone is deputy news editor at Property Week