Has technology in support of commercial real estate been a little oversold historically? Coy Davidson thinks so. At least, he says, it has to the degree that CRE listing services, apps, mapping and the like are touted as “disruptive”. In The Tenant Advisor, Colliers International Senior VP Davidson makes the observation that the last fifteen years of the commercial business has seen major advances and important efficiencies brought to the industry, but that these have not, as sometimes has been touted or warned, turned the basic business on its ear and made brokers, reps, consultants and the whole cast of professional characters obsolete.
Well, it is 2013 and corporate tenants are still using brokers to select properties and structure transactions and property owners are still using brokers to market their real estate assets for lease and sale despite the fact that relevant property data exists and is accessible on the web. Furthermore, who is in the market for property both tenants and investors alike is no longer a brokers best kept secret.