The Millennial Impact on Commercial Real Estate Technology
Millennials have been the underdogs in previous years, however, their recent impact on the commercial real estate and technology space evidences a significant shift in power regarding entrepreneurship.
Millennials are turning their visions into reality at a faster speed than any other generation has. One of the main contributors to the rise in businesses started, is the technology available. Another key influence is the ability for Millennials to bounce back after facing failure, as it does not have the same implications as before. According to the BNP Paribas Wealth Management report; Millennial entrepreneurs have launched about twice as many businesses at almost a decade younger than boomers. See below.
The Commercial Real Estate Industry has felt the impact of Millennials specifically on the technology side. What would the #CREtech world look like without them? Can you imagine the leasing management space without VTS and Hightower? It would look pretty sad.
Here is a list of the top Millennial-driven platforms to keep your eyes open for:
Agentdesks is a collaborative mobile platform that enables Realtors to generate leads and close deals as part of a trusted network of other Realtors.
CompStak Enterprise delivers real-time records of commercial lease transactions. The data is collected from their qualified network of CRE contributors, paired with property-level data, and validated by our data science team.
Hightower is a leasing management platform for the commercial real estate industry that helps landlords and brokers increase visibility, save time and reach more tenants.
RealtyShares is an online investment platform that specializes in real estate investments by bringing together investors and borrowers.
The Rentlytics Business Intelligence platform brings all of the data important to portfolio management into one place, and makes this data easy to analyze, share and act on.
RentMoola is an online global payment network that allows tenants and owners to pay rent and other payments by credit card, debit card, RM Direct Debit™ or RM Cash™ while earning rewards.
Reonomy creates intuitive products designed to help CRE professionals achieve success by easily finding the ownership contact details needed in order to make decisions.
VTS is a cloud-based leasing and portfolio management platform that provides brokers and owners with real-time access to everything happening throughout their portfolio.
Not surprisingly, this list includes six of the Eight Real Estate Start Ups to Watch according to Forbes. This is just the beginning of “Millennipreneurs” and the impact they are making on the Commercial Real Estate Technology space.
For the full BNP Global Entrepreneur Report, click here.