Thankful for Brendan Wallace sharing his top lessons from working with 110+ institutional real estate LPs in the latest Thesis Driven. Over the past eight years, Brendan has raised over $3 billion from a global mix of 110+ strategic limited partners from 20+ countries, including BNP Paribas Real Estate, British Land, CBRE, Cushman & Wakefield, Hilton, Hines, Host Hotels and Resorts, Kimco Realty Corporation, Lennar, Marriott International, MetLife Investment Management, MGM Resorts, Related Companies, Starwood Capital, Toll Brothers, and more. His top eight lessons from working with them all: 1. “Proptech” might not be the best term for real estate technology 2. Every real estate org is on a different part of the tech adoption curve 3. Tech bloat is real, and organizations need help focusing 4. Innovation is not real estate’s core business, but they do care about tech 5. Real estate’s tech focus can change quickly 6. Real estate is an idiosyncratic industry, which hinders technology adoption 7. There’s not a lot of overlap between venture capital, real estate, and technology. Be the liaison. 8. “Not sexy” is often the sexiest when it comes to technology Full lessons learned in Thesis Driven - linked in comments and no paywall on this one!
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#1 is #1. Technology Solutions for Real Estate, is found across every vertical industry. It’s not about the tech, it’s about the strategy and the application. And sometimes good tech, is just good tech, or maybe just a $1.99 app too. Explore, beyond the beyond!
This post provides valuable insights into the intersection of technology and real estate. It's crucial for organizations to understand the unique challenges and opportunities within the industry. Well said, Brad Hargreaves
There are some gems in this one! I particularly like “Not sexy” is often the sexiest when it comes to technology. Our real estate industry does not rush to embrace sexy...which is a good and bad thing. I for one think Construction Tech is an exciting space and look forward to following you and Brendan Wallace for more.
1 and 6 are especially relatable. Excited to read the full letter One of these days we’re going to have to just pick a new name and commit to it
Great insights from Brendan Wallace, thanks for sharing Brad, especially the part about 'not sexy' being the sexiest when it comes to technology!
Good read
Entrepreneur and Writer
5moFull letter on Thesis Driven: https://www.thesisdriven.com/p/lessons-in-working-with-institutional