Latest Trends and Insights in Real Estate Technology

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  • Smart home devices to lead in third wave of the wireless home

    SMART CITIES WORLD

    Nearly five billion home wi-fi devices are in use around the world, according to a new report that also predicts “a new wave” of wi-fi smart home devices will drive adoption towards a total of 17 billion in use worldwide by 2030. The figures cement “the wireless home” as one of the leading technological trends of the early 21st Century and wi-fi technology looks set to remain the dominant platform for internet connectivity for many years, said the author of a new report.

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  • Goodbye Silicon Valley: The Geography of Proptech Startups

    CREtech

    It’s no secret that funding for startups is through the roof right now. As the summer months heat up, so has venture capital activity. Since June 2019, total dollar volume invested in private real estate tech companies has reached an estimated $3.6 billion, a 126.1 percent month-to-month growth in funding. Startup funding increases are happening across the board: Overall venture funding is up, and “the biggest funds continue to capture much of the upside as more capital flows into private techno…

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  • Brandon Weber’s second act

    THE REAL DEAL

    Last September, Brandon Weber gave up his day job as one of the leaders of commercial real estate tech’s most-hyped startup, VTS. He then decided to buy a one-way ticket and go traveling. Weber had founded Hightower, which merged with its chief rival VTS in November 2016 to create what Weber and VTS boss Nick Romito billed as a $300 million company. But Weber was unsatisfied playing second fiddle to Romito, the CEO of the combined firm. He told The Real Deal at the time that, “long-term, I th…

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  • Suburb in the sky: how Jakartans built an entire village on top of a mall

    THE GUARDIAN

    It’s Thursday and the residents of Jakarta’s Cosmo Park are out jogging, watering their plants or walking their dogs along neat asphalt roads. Neighbourhood kids pedal their bikes under frangipani trees and peach-coloured bougainvillea to the pool and tennis court. Apartments, comfortable and modern, sit side by side, with barbecues and toys stacked outside. Quiet and orderly, it feels like any other suburban idyll – but there is one difference. Cosmo Park is a village in the sky, perched …

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  • Virtual brokerage eXp now has 20,000 agents — far more than Compass

    THE REAL DEAL

    eXp Realty, the fast-growing virtual brokerage, has reported a “record” $266.7 million in revenue in the second quarter of 2019 — a 104 percent year-over-year increase. In its latest earnings report, the firm also reported $2.2 million in net losses, up 16 percent on the previous year. Transaction volume increased by 94 percent, year over year — totaling $10.3 billion. The firm said it did 35,837 deals, up 80 percent….

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  • Here’s how much it will cost you to sell your home on an iBuying site

    THE REAL DEAL

    Real estate companies from Zillow Group to Keller Williams have jumped on the nascent iBuying craze. But what’s the cost to home sellers who sell their homes with these services? An extra 13 to 15 percent. That’s according to a new study from data firm Collateral Analytics, which aimed to put a price tag on the cost of using iBuying platforms, which allow buyers to purchase homes instantly online, Inman reported.

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  • Zillow Group slows hiring for mortgage division following delayed software rollout

    GEEKWIRE

    Sometimes lost in Zillow Group’s surprising pivot to focus primarily on transforming how people buy and sell homes is its evolution into a mortgage lender. The company jumped into mortgages with the acquisition Mortgage Lenders of Americalast year and has been plowing resources into building its own mortgage software platform since then….

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  • Procore Ups Startup Acquisition Pace As Construction Tech Consolidation Continues

    CRUNCHBASE NEWS

    Construction tech unicorn Procore  has acquired its third startup in 12 months as part of its plan to broaden its offerings through M&A. Late yesterday, the southern California company announced its buy of Construction BI, an AI-driven analytics company for the construction industry. This follows Procore’s July purchase of Honest Buildings, a provider of project management software for owners and developers, and its September 2018 acquisition of BIManywhere, a visual BIM (building informa…

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  • WeWork’s looming IPO lights the path for rivals

    THE BUSINESS TIMES

    WEWORK took the real estate world by storm on its way to an initial public offering (IPO) that’s set to be among the year’s biggest. It’s not the only co-working firm that’s primed for new heights. More and more companies are vying to meet global demand for hip, furnished offices without the commitment of a long-term lease. Some, such as IWG’s Regus, preceded WeWork. Others followed in the footsteps of the powerhouse that’s raised more than US$12 billion and opened locations in more than 1…

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  • Otis Elevator’s Bet on Technology

    WSJ

    Otis Elevator Co. has come a long way from being an elevator pioneer in the 1850s. Today, the company’s elevators and escalators carry two billion people daily, and technology is driving sales and servicing of equipment. As high-rises keep growing taller, more connected and more efficient, there is increasing pressure on Otis and rival elevator companies Schindler, Kone and Thyssenkrupp to reduce wait times for rides and to personalize experiences—for instance, by allowing riders to call elev…

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