Tag: real estate tech

Real estate and startups? For most people, there might not be an immediate connection between the two industries. Real estate has been around as an industry for hundreds, if not thousands of years, and is generally regarded as a multigenerational business. In New York City, for example, eight of the ten largest commercial landlords were founded before 1985, a testament to the enduring nature of real estate empires. In stark contrast, the startup world has come about within the last few decades, and many success stories, such as Facebook and Uber, have achieved unicorn status after only a few years. It would not be unreasonable to regard these two businesses as fundamentally separate from one another, but the last few years have shown that the reality is far different. In fact, there are a few unique features of real estate that have made it an ideal new frontier for the startup world. The most crucial characteristic of the real estate sector is its size. According to a 2014 Federal Reserve report, the United States residential and commercial real estate...