NYC Real Estate Week Wrap-Up

This week marks another very busy week for Cherre! We participated in Metaprop NYC and MIPIM’s annual New York Real Estate Tech Week once again. This year’s event included interesting sessions and many attendees from around the world. Here are some of our key highlights:

Propmodo: Building the Future 
We kicked off the week at Propmodo’s Building the Future event where our CEO, L.D. Salmanson, went through the data automation journey. L.D. drew comparisons between the transition in the stock market in the 80s and 90s, and the transformation taking place in the real estate industry today. 

Previously, the stock market was not very technology driven, data was less standardized, and people were the primary source of insight and analysis. Then everything changed. 

Technology has had a significant impact on the stock market and how it operates. Now there is more automation, more standardized data, and more insights and analysis driven by AI. Though change wasn’t overnight, it happened and clear winners emerged. From data infrastructure companies, such as Bloomberg or Aladdin (Blackrock), to passive index funds, such as Vanguard or Fidelity, and finally to high-frequency trading firms, such as Two Sigma or Citadel. Firms that didn’t adapt were left behind.

The real estate industry, especially commercial real estate, is going through a similar transformation where technology is changing the landscape and creating new data platforms and new opportunities for automation. L.D. noted that the window for competitive differentiation is quickly closing and that there will likely be a few key winners in this space over time.

Cherre joined many of the leading PropTech companies and some new exciting start-ups for MIPIM’s PropTech NYC event. Over the course of the two day event, our team met with many interesting people from around the world that wanted to learn more about Cherre and delve into our data connection capabilities.  

EY 2019 Real Estate Market and Digital Trends Update 
On Wednesday, L.D joined an EY panel on the latest digital trends to impact the real estate market. Moderated by Josh Herrenkohl from EY, this panel was an opportunity for attendees to hear from the spectrum of a data provider, a data connection platform, and the end user. During the course of the conversation, L.D. highlighted how Cherre’s data connection platform can work with data providers, like Compstak, to connect multiple data sets from multiple sources, and then deliver actionable insights to an end user, such as Jamestown, which is especially forward thinking in adopting technology.

The environment that Josh created during the panel enabled the speakers to break down buzzwords, discuss the complexities of exponentially growing data sets, and the importance of distilling information. The other panelists included Ginny Miller from Jamestown and Michael Mandel from Compstak.   

Levertonia 2019
Closing out the week, L.D. spoke on a panel at Levertonia 2019 focused on deriving value from PropTech. Joining L.D. were Christian Simon, Enterprise Account Exec at Waypoint, and Stephen Fernicola, Sr. Product Manager, Data Strategy & Integrated Solutions at VTS. The panel discussed how PropTech and AI are transforming the real estate industry and creating new opportunities. A big part of the discussion was dedicated to data interoperability and how the industry is working together to collectively unlock more value.

Photo credit @Leverton