Silicon Slopes PropTech Chapter Changing the Built World
This article was published in the Silicon Slopes Magazine, Summer 2022
by Matt Knight, Director, Silicon Slopes PropTech Chapter
Who doesn’t enjoy building? Whether you are composing a business strategy plan, engineering a technical code, or framing a home, we’ve all had opportunities to build and create. Think about your career and accomplishments—many tasks were perhaps more intensive and laborious than others, right?
Over time business operations become more sophisticated, yet efficient, with the expansive influence of technology.
As new industries have emerged with the influence of technology, we are seeing a growing trend to label the names of existing sectors with the word ‘tech’ attached towards the end. For example, EdTech (Education Technology), FinTech (Financial Technology), and MedTech (Medical Technology).
The real estate sector is no different as it incorporated the term PropTech (Property Technology) to encompass all aspects of real estate technology that affect ownership, construction, operations, research, management, and even artificial intelligence (AI).
Perform a Google search for the term “proptech” and you’ll see over 10 million search results addressing the evolving property technology ecosystem globally!
It has been recited countless times before—real estate is all about “location, location, location.”
We’re seeing this evolution in the real estate sector, from a location-driven focus to a more pragmatic business intelligence approach. How many of us are transacting, purchasing, managing, and operating within the real estate community entirely online or through apps?
Consider a local, convenient storage organization, Neighbor (neighbor.com), who allows property owners (hosts) to list and rent real estate storage space entirely through a technology platform, making transactions quicker, more efficient, and more secure.
How about Utah-based, on-demand warehousing and storage solution, Chunker (chunker.com), who provides valuable warehouse space in vacant industrial facilities while facilitating the transaction and logistics all online.
Located in Cottonwood Heights, PassiveLogic (passivelogic.com) has produced a unique platform and intelligent building system which automates and provides a fully autonomous system controlling your critical building functions. Lookup the term, “digital building twin” if that description sparks interest!
Slowly but surely, real estate is embracing tech as a profit and management tool, even a necessity. It’s all about getting the right space in the right location and while being managed by the right technology.
The Silicon Slopes PropTech Community Chapter is excited to focus on discussing real estate technology topics, organizations, platforms, and tech startups that impact the real estate industry. I am pleased to facilitate this chapter with my friend and co-director, Ross Rudd of Bridge Investment Group. Ross is on the cutting edge of real estate technology evaluation and implementation, working closely with startups and real estate tech leaders worldwide.
Join us as we host quarterly discussions with local and national leaders who are integrated in various applications of technology that are fundamentally changing real estate markets and what is labeled as the built world. I know you will be surprised with what’s evolving locally in the PropTech world.
Our list of presenters has included Dave Bauman (Director, CBRE), Lloyd Allen (Managing Broker, CBRE), Joseph Woodbury (CEO, Neighbor), Brad Wright (CEO, Chunker), and Troy Harvey (CEO, PassiveLogic).
Thanks to our chapter sponsor, CBRE (CBRE.com), global commercial real estate services, in Salt Lake City and Lehi, UT.
If you are focused on how technology will affect real estate construction, management, and operations, we invite you to come to our quarterly meetups and discussions.
We are always interested in learning more about Silicon Slopes organizations which are focused on real estate technology platforms and services. Please reach out and update us on your efforts! Email us at firstname.lastname@example.org.
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*Read the latest issue of Silicon Slopes Magazine, Summer 2022