Technological Impact on Real Estate Investing: Robots vs. Humans New Applications for Organizational and Portfolio Strategies

Lawrence Souza, Olga Koroleva, Alicia Becker, China Martin and Nate Derrick

ERES from European Real Estate Society (ERES)

Abstract: Goal of this paper is to present a roadmap for real estate operating companies to transform themselves into tech-centric enterprises. The research focuses on the impact of technology on physical real estate assets and organizational structures. The revolution in real estate technologicalization will come from new ideological thought and management paradigms. Over the last 20 years, the real estate industry has been affected by the introduction of new technologies; however, over the last 5 years, and the last 5 months due to COVID-19, has seen a massive transformation in the use and utilization of space. New technologies are rapidly changing how investors, tenants and managers use, invest, and finance property. The introduction of Artificial Intelligence/Machine Learning, blockchain, virtual reality, tablets, cell phones, apps, 5G, etc. is putting pressure on real estate organizations to change. These changes are long overdue and the future, modern real estate company, will take a hybrid proptech form. A company focused on delivering high quality products and services to its clients in real time. The revolutionary change for the industry will be in its organizational and industry structure, away from the traditional hierarchical-mechanistic form, to a virtual-open-agile-innovative organizational form. Due to the current state of the economy, effects of the pandemic, and rapid adoption of new technologies will radically change the way real estate companies are organized, how they add value and innovate, and how they are led by management. The revolution in real estate technologization will not come from the application of these technologies, but from the rapid change of ideological thought and management-leadership style and culture.

Keywords: Applications of Technology to Real Estate; Real Estate Technology; Real Estate Technology Case Studies; Real Estate Technology Company Organizational Structure (search for similar items in EconPapers)
JEL-codes: R3 (search for similar items in EconPapers)
Date: 2021-01-01
New Economics Papers: this item is included in nep-ict, nep-isf and nep-ure
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://eres.architexturez.net/doc/oai-eres-id-eres2021-200 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:arz:wpaper:eres2021_200

Access Statistics for this paper

More papers in ERES from European Real Estate Society (ERES) Contact information at EDIRC.
Bibliographic data for series maintained by Architexturez Imprints ().