In the past two years alone, more than $50 billion has been invested into emerging proptech. As new businesses in proptech continue to expand, what should investors pay attention to?
Although some experts suspected that proptech would face a slowdown in 2020, the sector actually grew faster than it did in 2019, consistent with the notion that the pandemic served as an accelerant for changes already underway across the entire CRE value chain. If investors weren’t already prioritizing proptech, are they already too late?
On this episode of the AFIRE Podcast, Steve Weikal, head of industry relations and CRE technology at the MIT Real Estate Innovation Lab, discusses how investors can rethink the relationship people have with real estate through proptech. Enabled by emerging machine learning, AI, analytics, and other technologies, proptech has proven to generate a convergence of uses in the real estate space. What can investors expect to see moving forward?
Steve Weikal is Head of Industry Relations at the MIT Center for Real Estate, responsible for managing relationships between the Center and its global network of industry partners and nearly 1100 alumni of the MIT Master’s in Real Estate Development (MSRED) program, in 46 countries. He is also a lecturer and researcher, and the CRE Tech lead in the MIT Real Estate Innovation Lab, focused on innovative new technology and business models that disrupt the traditional ways of developing, transacting and managing real estate.
Steve was the Founder of MIT Real Disruption, a successful series of conferences discussing the impact of emerging technology on the real estate industry that is now part of the international CREtech conference platform. He is a member of the CREtech Leadership Board, and sits on the advisory boards of three real estate technology start-ups. Steve has spoken extensively about real estate technology at conferences for AFIRE, ULI, IREM, SIOR, CCIM, CoreNet, ICSC and BOMA, and has been quoted by numerous media outlets, including BuzzFeed, TechInsider, the Boston Globe, GlobeSt. the Real Reporter, Travel Weekly, IPE Real Assets Europe and Anuario Inmobiliario LatinoAmerica.
Steve holds a Master’s of Science in Real Estate Development (MSRED) and Master’s in City Planning (MCP) from MIT, and a law degree from Suffolk University Law School. He is a licensed attorney, a licensed real estate broker, and a LEED Accredited Professional.
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