Building It Up: New Real Estate Technologies that are Transforming a Giant Industry and Increasing Profits
If you’re talking U.S. real estate, you are talking about a huge market. Real estate is the largest asset class in the U.S. – worth about $40 trillion, which breaks down into two parts: $23 trillion for residential housing, and $15 trillion for commercial real estate (CRE) accounts. And it’s a market that is still running, largely, on broker calls and site visits. Bottom line: While most people may not instinctively see any relationship between real estate and startups, the connection is there. The real estate market is a dinosaur, and it is more than ripe for technological transformation. Enter a growing number of cutting-edge startups that are transforming how business is done in the real estate industry. These companies are developing cutting-edge solutions that are increasing transparency, creating more equal opportunities, leveraging Big Data and complex algorithms that accurately determine risk, and automating manual tasks – potentially making an incredibly profitable market even more profitable. Because Size Counts The most noteworthy characteristic of the real estate sector is its magnitude. Don’t forget that a market with these proportions...
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