Chapter 5: Real Estate And Technology

The impact of COVID-19 has caused great disruption in real estate, while also accelerating the use of technology across the industry. As people have begun re-imagining how physical spaces will look and operate in a post-pandemic era, technology has emerged as a key factor in this re-imagining process. Many large institutional landlords, property owners, investors and lenders are innovating to disrupt processes that are often antiquated, complex and slow; with a view to increasing revenues and reducing costs, improving customer service, and optimizing operations. With these changes, a host of legal and operational considerations have emerged.

In addition to the adoption of in-house technology, startups are increasingly being engaged across various sectors of commercial real estate—from investment, development and construction to asset and property management. Some examples of how technology is transforming the real estate industry are below.