{"id":1004085371,"date":"2013-10-21T13:17:11","date_gmt":"2013-10-21T21:17:11","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004085371"},"modified":"2022-12-07T06:44:38","modified_gmt":"2022-12-07T14:44:38","slug":"irem-special-report-embrace-transformative-change-beware-of-complacency-yardi-founder-urges","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/irem-special-report-embrace-transformative-change-beware-of-complacency-yardi-founder-urges\/","title":{"rendered":"IREM Special Report: Embrace Transformative Change, Beware of Complacency, Yardi Founder Urges"},"content":{"rendered":"<p>By Paul Rosta, Senior Editor<\/p>\n<p><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/10\/Anant_IREM-Keynote_Oct17.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004085373\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/irem-special-report-embrace-transformative-change-beware-of-complacency-yardi-founder-urges\/anant_irem-keynote_oct17\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/10\/Anant_IREM-Keynote_Oct17.jpg\" data-orig-size=\"2304,1296\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"Anant_IREM Keynote_Oct17\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/10\/Anant_IREM-Keynote_Oct17.jpg?w=1024\" class=\"alignright size-medium wp-image-1004085373\" alt=\"Anant_IREM Keynote_Oct17\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/10\/Anant_IREM-Keynote_Oct17.jpg\" width=\"300\" height=\"168\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/10\/Anant_IREM-Keynote_Oct17.jpg 2304w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/10\/Anant_IREM-Keynote_Oct17.jpg?resize=300,169 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/10\/Anant_IREM-Keynote_Oct17.jpg?resize=768,432 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/10\/Anant_IREM-Keynote_Oct17.jpg?resize=1024,576 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/10\/Anant_IREM-Keynote_Oct17.jpg?resize=1536,864 1536w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/10\/Anant_IREM-Keynote_Oct17.jpg?resize=2048,1152 2048w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/10\/Anant_IREM-Keynote_Oct17.jpg?resize=150,84 150w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/10\/Anant_IREM-Keynote_Oct17.jpg?resize=696,392 696w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/10\/Anant_IREM-Keynote_Oct17.jpg?resize=1068,601 1068w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/10\/Anant_IREM-Keynote_Oct17.jpg?resize=1920,1080 1920w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/10\/Anant_IREM-Keynote_Oct17.jpg?resize=747,420 747w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a>Stay on top of technology shifts and generational change. Listen to your customers. Don\u2019t expect immediate success from every initiative. Be mindful of economic cycles\u2014and stay humble.<\/p>\n<p>Those were among the principles espoused by Yardi Systems Inc. founder &amp; CEO Anant Yardi during his keynote address at the Institute of Real Estate Management\u2019s annual fall conference in Scottsdale, Ariz., on Thursday.<\/p>\n<p>Drawing on a career that spans five decades, Yardi touched on a technological change, leadership, organizational transformation and economic red flags. A common cause of decline in business, he said, \u201cis an inflection point where the successful companies, the successful leaders, become arrogant.\u201d As a case in point, Yardi cited the rapid fall of the BlackBerry brand, which he attributed to \u201clack of innovation, lack of customer focus, lack of transformative leadership.\u201d The lesson: \u201cIf you get on the wrong track . . . it is extremely difficult to step out of it.\u201d<\/p>\n<p>For the hundreds of real estate managers in the audience, coming trends in technology include a continuing evolution in tools. By 2017, Yardi noted, American companies are expected to increase their use of tablets by nearly 50 percent. The next big thing, he added, could be the \u201cPhablet,\u201d a kind of tablet-smartphone hybrid.<\/p>\n<p>Social media is evolving no less quickly than technological tools. During 2012, 1 billion Facebook users offered about 2.7 billion \u201clikes;\u201d this year, the number of \u201clikes\u201d on Facebook is on track to reach 4.5 billion. And Facebook pages created by businesses now totals about 16 million. \u201cFor those who haven\u2019t thought about it yet\u2014consider it,\u201d Yardi advised.<\/p>\n<p>Pointing out the striking economic changes of the past 40 years, Yardi noted that the annual federal budget has grown from $195 billion to $3.1 trillion over that stretch as the population of the United States has increased from 203 million to 308 million. \u201cIf there\u2019s one thing I worry about, however, it\u2019s our national debt,\u201d he said. That metric has risen from $5.7 trillion in 2000 to an estimated $16.7 trillion. \u00a0The debt is approaching 100 percent of gross domestic product.<\/p>\n<p>For comparison, Yardi noted that Greece\u2019s national debt has hit an estimated 130 to 140 percent of that country\u2019s GDP. Noting that a financial or economic crisis has emerged at some point during each of the past several decades, Yardi suggested that one is also likely during this decade. \u201cIf there is going to be a financial crisis,\u201d he urged, \u201cit is important for you to hunker down and be conservative in everything that you do.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In his keynote address, Anant Yardi emphasizes paying attention to customer needs, embracing technology in all its forms and the value of steady yet flexible leadership.<\/p>\n","protected":false},"author":445,"featured_media":1004085373,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742,21785,21787],"tags":[],"class_list":["post-1004085371","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest","category-property-management","category-technology"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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