CRE Technology Predictions for 2013
To kick off the series, here is a preview of the questions to come, along with my own predictions.
What CRE tech niche will be ripe for disruption or improvement in 2013?
Startups will continue to be disruptive in the CRE space, but with less focus on listing search (listing search was soooo 2012). Listing search is now, and forever will be, free.
Twenty-Thirteen will lead to the beginnings of data liberation and visualization as listing sites look for new ways to differentiate and continue to attract new users, other than just saying, "It's free!!!".
The site with the best data visualizations will soon conquer all, as market incumbents scramble to catch up.
What popular tech will pass its prime in 2013?
Social media has peaked. Social media is great for B2C, but unless you're willing to 100% commit, the monetary payoff isn't there.
To commit, one must consistently deliver fresh and meaningful content, not just tweeting some WSJ articles and links to stale listings. After realizing this, many will return to the CRE staples of coffee, golf and alcohol.
What will be the most hyped product launch in 2013?
CoStar Fusion will be the most significant product launch from an industry incumbent.
It will undoubtedly make a big media splash, but will soon become a distance memory for the 95% of brokers who think it is too expensive, or are just too cheap to pay for it.
My one wish for 2013: Openness and integration
Can someone please open up an API so that we can standardize, share and compare the same data?
This will only create more innovation and efficiency for the industry. Being that millions of dollars are made every day based upon CRE's inefficiency, this may have to wait until 2014.
What is your wish for CRE Tech in 2013? We want to know.
Photo: Dundas Square in Toronto by WVS