By L.D. Salmanson, Co-Founder and CEO of Cherre
In this four-part series, I take a birds-eye view of the world of real estate data and technology that we inherited. Only after we understand the historical context can we identify opportunities to use technology to fundamentally shift how we invest, manage, and transact this global asset class called real estate. Read previous article: The Evolution of Silos
This is the world we inherited. We don’t get to go back in time and change reality, and we don’t get to imagine a world that doesn’t exist. We also can’t pretend that there will be some magical “kumbaya” moment where the entire industry decides to throw away everything they’ve worked on for decades and rebuild in conformity.
This is the reality: The data and application landscape is fragmented and siloed, and we need to find a path forward that enables investors, managers, and underwriters to make better, faster, and more accurate decisions given this known reality. We need to provide them with the tools to leverage all connected data – internal and external, paid and free, public and private, in near real-time, without forcing them to change their underlying systems. This is the reality.
We founded Cherre with the stated mission to connect all real estate data. We at Cherre, together with our partners, clients, and even adjacent stakeholders, have worked incredibly hard to overcome immense technological and business challenges to make connected data a realty. It’s been an incredibly rewarding journey.
Cherre built the world’s first and largest connected real estate data and applications marketplace, integrating every major provider into a single environment. For many of our data and application providers, this is the first time they’ve ever been willing to give a third party (like Cherre) access to their data.
We’re humbled by the trust they have in us to enforce their rules, and protect their hard-earned IP, while demonstrating that a rising tide lifts all boats – providing value to themselves and to our mutual clients.
This trust is not obvious. This industry has been plagued by bad actors and mistrust, and having the privilege of being a trusted middleman is something we will never take for granted. It’s only through this trust that we can serve our collective mission.
Integrating these numerous providers is possible because Cherre has already done the heavy lifting. We built standardized connectors to key application and subscription data sets that enable mutual customers to easily integrate that data into their data warehouse and workflows. Our entity resolution engines are second to none, and allow our clients and partners to leverage connected data across all objects and entities. Adding a new dataset to your Cherre environment can now take hours, not years.
The distance from discovery to insight is shorter than ever. Our team of data scientists built the world’s largest real estate knowledge graph, the foundation for our data connection engine. We’re the only company in the world that has a view of the entire universe of real estate data in a single model. It’s this unique view that enables us to deliver unparalleled value to the ecosystem.
Now that Cherre has solved many of the industry’s structural and technological problems, more and more real estate investors are able to achieve their goals. We’re able to leverage real estate data to answer questions both simple and complex, from basic needs like “What’s my asset’s value and portfolio makeup?” to more complex challenges like “How do I diversify my portfolio to best plan for future growth?” – and even questions investors haven’t thought of yet.
Today, every major firm in the top 1000 has a data strategy – they’re acting on it quickly because they know the window for transformation is rapidly closing.
For those who haven’t started already, the time to get moving is now. If you’re not sure how to get started or what to tackle first, let us know – Cherre’s platform can integrate with your existing data warehouse and strategy or be your single source of truth, and we’d love to help shorten your time from discovery to insight.
We will continue to work to inspire the market, explore new possibilities, and lead the digital transformation in the real estate industry while ushering in a new era for the power of connected data. We look forward to seeing you all with us on this journey. The best is yet to come!
Transparency is critical in building trust, especially in the multifamily industry. To advance this goal, the Real Estate Technology and Transformation Center (RETTC) has opened a public review period for updates to the Multifamily Information Transaction Standards (MITS).
Enable Trust by Enabling Visibility
In the complex world of real estate data management, being a data detective is no longer optional—it’s a necessity.
In an industry where over $23 billion is invested annually, according to Blueprint, the stakes are high for real estate professionals.
