Need a good book this holiday season? Why not read about the technologies that are changing the way we interact with the properties that we send the majority of our lives in? While there are more than 20 Fintech-related books available on Amazon, real estate tech or PropTech are conspicuously missing. Fortunately, a Paris-based VC firm just published “Make Real Estate Great Again,” the first book on the transformation of the real estate industry, from construction to transaction to occupancy. They make the case that the lack of productivity gains and poor customer service that have plagued the property industry have caused more and more entrepreneurs to step into the market and create innovations to improve efficiency.
The book is divided into 4 chapters. The first one is dedicated to the investment segment and how people are now able to invest more directly in real estate projects. Crowdfunding, quicker mortgages, down payment assistance are all discussed in-depth. The authors think that one day soon technology will facilitate better matching between capital supply and demand in the real estate industry.
The second chapter deals with construction. Waste, construction labor shortage, carbon footprint, all of these challenges could be tackled by smart industrialization. Biomaterials, Building Information Modeling, off-site construction and robotics are the drivers that will bring the industry into the modern era.
The third part of the book deals with the transformation of the way we buy, sell and rent this asset type. Are Opendoor and Purplebricks going to replace for the traditional brokers? How do data analytics help rental property companies? How will property management improve through sensors, IoT and predictive maintenance? All of these questions are dealt with in detail.
The fourth chapter is focused on the end-users. Real Estate has been turning more and more into a service industry. What started of as building-as-a-service, will evolve into building-as-a-community and finally will become building-as-a-hub, able to attract people from outside.
Lots of new technologies are mentioned in the book such as big data, blockchain, augmented/virtual reality, artificial intelligence, 3D printing, drones, and more. It also catalogs more than 150 startups that are challenging the established players and changing the way real estate is run.
The former CEO of Unibail-Rodamco-Westfield, the premier global operator of flagship shopping destinations, Guillaume Poitrinal wrote in the preface that “as free observers, the authors explain why digital Big Bang is the next big thing in real estate.” The former chairman of Gecina, largest offices REIT in Europe, Bernard Michel added that “this is the first book on both innovation and real estate and undoubtedly the must-read of the year.”
The authors have years of experience in the property industry. Robin Rivaton worked at the Boston Consulting Group before serving as advisor to the CEO of Paris Airports Group. After Brexit, he was appointed CEO of the agency in charge of attracting foreign investors and financial groups in the Paris Region. He has been the economic advisor of Mr. Le Maire (current French Minister of Economy and Finance) and Mrs. Pécresse (current Governor of the Paris Region). He also wrote 4 non-fiction books. Vincent Pavanello has been working in the real estate industry for the last 6 years. Has was notably in charge of pan-European real estate investments for a Paris-based family office.
In 2017, they created Real Estech, now the main real estate tech community in Europe with 250 startup and 50 corporates members. We are proud to have them as our partners in a dedicated French email and translations of our content into their native tongue.