I’m sure it’s a given in this day and age that we as in WE are all living in the digital world of business. Throw out the names, Apple, Google, Samsung, Nokia and maybe add in Nike, Sony, Dell and you are nodding in agreement. Yes, it is indeed the digital world we all live in.
Within commercial real estate, it is the exact same thing correct?
Let’s throw out those well known digital companies and brand names of commercial real estate………….
Yea, there are none. NONE, PERIOD!
NONE EVEN CLOSE!
Come on seriously, are you stretching and trying to name just one?
Let me give you a quick and easy example of why this is true TODAY.
Yea, here I go again, how about dissecting the transaction. Start there and tell me what part is by your definition digital?
My take is that it’s hardly any if at all. And so why is that do you ask?
Analog by simple definition is the process of the same. It’s the same process as it has always been. Yes, we are using a computer to process the information itself but not in any way change how it’s being done.
The digital equivalent to that for a commercial real estate transaction would be what?
Simple, the entire process it digitized or more simply put, that digital process or transaction is automated at the very least.
What ridiculous and redundant tasks are easily and by all common sense used now, could and should be automated?
I’m saying just about ALL of it. ALL!
Let me jump into something else that I think is somewhat, no wait, WAY overlooked in terms of the transaction.
How about the client/customer and their experience of the transaction? Have you ever thought about that one?
What is that actual experience? Dark matter science? Deepwater exploration? Or just make sure there is total ignorance on their part so that they don’t see what an incredible waste of the human races fucking time this all actually is?
But, but, but, it’s a big part of the value prop you are providing, generally most of the time and the real magic that you do?
BULLSHIT! It’s all paperwork and paperwork done by people paid what? Yea, I’m going to say it. Paid WAY below your pay grade to do what again? An antiquated and analog process because………….????? It just fucking IS!
Let me guess, you did send that special coveted client an email to make sure they knew the time and location of the closing did you not. Hell, that’s a digital thing right?
Is this too easy to lay into and rip apart?
It is because I can and so can you.
It’s ANALOG. It just THE SAME AS. Everything is THE SAME AS!
How much is more value is there in the digital?
It may be hard to even comprehend for commercial real estate.
How about this, how much value is being wasted on analog and what happens when the client DEMANDS that digital transparency and experience?
Yea, how about that one?
You and I can both come up with a pretty simple answer.
I happen to have three.
1. How about creating value in the processes itself?
2. How about creating a value of customer experiences?
3. And then building on foundational capabilities that support that entire structure.
Side rant- Yea, I came up with those on my own. (I had some little smart ass from Standford ask me if I “just Googled shit.”) (Fuck him, some of us are just smart and understand the world.)
So, because of or more aptly put DEMANDED by the user/consumer/client digitization will do those three things.
Let me state that again “because of or more aptly put DEMANDED by the user/consumer/client,” finally commercial real estate see any value in digitization.
And we are only talking about the transaction associated with a completed deal. Nothing other than that.
Just the process of the transaction. The Process.
The digitization of that process.
Remember we agreed together at the beginning that we all live in the digital world of business.
It seems that that is NOT true. Not true at all.
The analog still works or at the very least is still embraced as the standard by which commercial real estate can and will function.
So again stating the obvious…..
I Have A Digital Question. I Have An Analog Question. And Commercial Real Estate Could Care Less!
+1 I did not even get into brokerages brands, data………….and on and on and on…
+1+1 Someone asked recently how many articles I have written over the years and where do I keep coming up with things to write about. It’s over 895 as of today and just reread this article, the possibilities are endless.