When economic boom times come to the real estate industry, speed can take priority over precision.
Acquisition teams race against the clock, competing against scores of other suitors, making quickness as vitally important as correctly valuing a property. Similarly, a consistent flow of incoming residents during prosperous periods could leave some multifamily owners a bit less attentive to operations and maintenance details than they might be when renters are at a premium.
But thoroughness, precision and data reliance make a comeback in tougher times, such as the ones in which we find ourselves. In such periods, the continued viability of many real estate entities rests on access to unimpeachable data. That’s why some cutting-edge proptech firms have prospered during this otherwise lackluster economic chapter.
Read the full article on Forbes.