NEW YORK, April 3, 2018 /PRNewswire/ — Equiem, the global leader in tenant engagement solutions for commercial real estate based in Australia, today announced that it is officially expanding its presence to the United States (U.S.) real estate market. Known for their tagline of “breathing life into buildings,” Equiem uses its
How do you think the real estate industry will be disrupted? Will it be because of new technology, lowering prices or getting rid of agents?
The real estate industry will be disrupted not only by technology but also by the changing nature of the world we live in. This answer is based on real estate agents and brokers I have had the pleasure of offering legal and commercial advice to. I will do my best not to repeat any of the answers previously given.
- The new nature of the real estate customer requires a new way of doing the business:
The real estate industry must start catering to the fact that young people are locked out of real estate, whilst the ageing population requires real estate for assisted living, accessible facilities, and creating a healthy environment that keeps the elderly out of hospital as long as it can.
As consumers continue to change what they want to purchase, ultimately becoming less predictable, research must continually be done to find the optimum way to to sell real estate to the changing demographics and their needs to ensure the real estate industry continues to succeed.
- The impact of migration, globalisation and urbanisation:
The more the population grows of a country, the need for urban housing and infrastructure also grows. Some theorists suggest that by 2025 a third of urban dwellers could struggle to get a house. The real estate sector should help find solutions: developing new social housing concepts.
- The changing nature of jobs and what it means to be a skilled worker:
Robots and AI will do a lot of the work that real estate brokers and agents do ( look at answer on this thread for a more in-depth answer,
- The impact of Global Warming:
Did you know that the real estate sector consumes over 40% of global energy annually, 20% of total global greenhouse gas emissions originate from buildings. Some assumptions have been made and they state that by 2030 C02 emissions from buildings could account for 56%?
The real estate sector has an obligation to the public as a solution provider whether it is embracing the circular economy or promoting in-house smart solutions to reduce C02 emissions.
- Virtual space:
Hyper-connectivity has changed the real estate game – the relationship and interdependence between physical and virtual spaces has changed drastically. As technology continues to evolve, its impact on the real estate industry and virtual space industry will get even stronger.
- Technological revolutions leads to business innovation:
3D printing, new construction materials and innovate methods of building are leading helping to reduce house prices.
- The real estate bubble (POP)
Since the global financial crisis, economists have paid particular attention to what they really know about real asset bubbles. To safely navigate this challenging environment, adopting a long-term perspective remains imperative. Experts from the real estate community can help to better understand the underlying mechanisms of asset pricing and the root causes of asset bubbles.