Despite the long-awaited and much-heralded embrace of tech inthe CRE industry, there are still some noticeable gaps in what typeof technology is being adopted. For example, a new DeloitteInsights report points out that most CRE managers and investorscontinue to make heuristic, or instinct-based, decisions ratherthan ones informed by data analysis.
There are several reasons why. Habit is a powerful explanation.“The industry has long thrived on relationships, which is how manyinvestors have traditionally gained access to unique information,”according to the report. “Traditionally, most investors havecombined this information with their gut instincts to makeinvestment decisions.”
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
