March 13, 2020
On Thursday, February 19, 2020, RealMassive sponsored Austin Business Journal’s panel and networking event, Digital DealMaking: How Data is Reshaping Commercial Real Estate. The event was held at South Congress Hotel in Austin and brought together local industry heavy hitters to discuss the good, the bad and the necessities pertaining to CRE data quality and attainability.
Austin Business Journal managing editor Will Anderson moderated the discussion, which featured:
Chrissy Fuller, senior vice president at JLL; Mike Clark, CEO of RealMassive; Robert Lee, founder and CEO of Pearlstone Partners; and Mark Roberts, executive director of the Real Estate Center at the UT McCombs School of Business.
Here’s a sneak peek of ABJ’s coverage of the event:
“If you wanted to buy a house, you might start your search at an online listing site like Zillow. Or you might have a Realtor search through the local multiple listing service. Pretty quickly, you’d get a sense for what’s available and what it would cost you. You’d also be able to check back later to see how prices have changed.
But in commercial real estate, that level of data is lacking. There’s no comparable MLS service, and there’s no household name like Zillow. And that’s not because data is any less valuable on the commercial side — it’s just that it’s a rarer and more precious commodity.
For tenants, the lack of publicly available CRE data adds uncertainty to business planning and decision-making. For developers, it makes it harder to know what to build, where and whether a project will turn a profit. And for investors, it makes CRE something of a black box — a clubby and illiquid market that’s hard to break into and hard to exit.
Data technology, however, is beginning to change the industry culture. To delve further into this topic, the Austin Business Journal convened a panel discussion of professionals with a wide breadth of experience in brokerage, tech, development and capital markets.”