CEO at Coyote Software, Oli Farago chats to CBRE’s Strategic Director Nick Wright, ahead of the #TechCBRE launch.
Oli speaks to Nick about the challenges he sees facing the property industry, including a necessary shift in mindsets and working practices that is crucial to enabling the wider adoption of technology. Oli goes on to discuss some of the potential barriers to change – and perhaps more importantly, how he sees a way forward in tackling some of these issues.
With emphasis put upon an open dialogue between the property community and the technology community, Oli explains the positive effect that this two-way conversation will have on innovation.
Drawing on his experience since making the jump from property company to proptech company, Oli reveals some of the more common difficulties he has witnessed – including real estate businesses that struggle to get real-time data on the properties they own, often due to critical data being stored in disparate silos.
Reflecting on success stories, and the companies successfully embracing technological change, Oli cites Julian Carey from Stenprop and Darryll Colthrust from Palmer Capital, as two examples of true innovators in commercial property.
When asked by Nick what is really going to change the industry, Oli offers up his thoughts on the opportunities that machine learning will bring to data, and eventually, how people view their own data.
Concluding the interview, Oli recalls the conversations around technology in property during 2017, followed by experimentation and small trials during 2018. Oli is optimistic that 2019 will be the year of adoption; with many companies embracing solutions that will transform their businesses for the better.
Read more about the technology focussed consultancy arm of CBRE over on the #TechCBRE website.