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How Will PropTech Shape the Future of the CRE Workforce?

According to the 2020 CRE Innovation Report by Altus Group, a majority of CRE leaders now fully recognize the disruptive impact of PropTech, illustrating that many advanced technologies can potentially solve current challenges.

PropTech report The CRE industry has reached a tipping point as PropTech adoption hits a critical mass threshold.

HOUSTON—Survey respondents, some 90% of global executives, think consolidation is needed for PropTech to prove its ROI and more effectively deliver on the needs of the commercial real estate industry. In fact, 33% of US executives predicted that consolidation will be well underway within the next 12 months. Specifically, areas of PropTech most likely to experience consolidation include property management, property transactions and listing services, and financing and lending firms.

Like many industries moving towards automation and increased connectivity, commercial real estate is grappling with the costs while anticipating its benefits as it continues to impact data usability and the future of work. Altus Group Limited, provider of software, data solutions and independent advisory services to the global commercial real estate industry, released its latest annual CRE Innovation Report that provides an outlook on technology trends and highlights the digital transformation impacting the global CRE industry.

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Lisa Brown

Lisa Brown

Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.

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