What’s a product you would pay to use that doesn’t currently exist?

Any or all of the below? Any other ideas?

  • website that continually updates the property tax methodology by county as well as city/county transfer tax so you just have to go to one site
  • a new better Argus
  • pre-built specific excel models
  • VR/AR space buildout experience for pre-TI space build outs
  • product like argus, but for multi rehab
 
allongo

Esri tries to push Business Analyst Online as their gis tool for non-gis people.

For most people in real estate, Tableau would probably check all their GIS needs.

Tableau is great

But complicated.  I miss the old Microsoft MapPoint.  Batchgeo is not customizable enough. 

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A machine learning programme that can summarise leases and long legal documents into coherent ‘lay mans’ terms. 

 

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Most Helpful

Out of the list you posted, I think only the property tax option would be a standout product. Would be very useful, god knows how much time I've spent researching local tax methodology and calling the city appraiser to get a feel for how they value properties.

A new, better Argus wouldn't succeed because Argus has such a stranglehold on the industry. It would be nearly impossible to get off the ground as much as I hate Argus. Financial modeling is easy enough to master, don't think there's enough demand out there for pre-built models for a successful business. Lots of companies doing VR/AR space buildouts already. No reason to do Argus for multi, its easy to model in excel.

I like the other suggestion regarding GIS software and machine learning for leases - GIS is a pretty niche skillset and tough to learn, and lease review eats up SO much time if your firm doesn't have in house counsel that will review and summarize for the acquisitions team. My concern with the machine learning program for leases though is adoption. How long will it take to get people to trust the program to catch sneaky language put into a lease that will only sound an alarm bell for an experienced reader?

 

An application that correlates real estate with depending industries and market tendencies, e.g. for small business retail, laundromats, storage facilities, gas stations, etc

Something like this might exist for RE professionals, but the people in the business itself are unaware of this. Such a service would be cool. for buyers, landlords, tenants/operators, etc

 

There are probably countless items, but just a few:

  • Investor Portal - Current options range from low-cost solutions like Sharepoint to high-cost solutions like Juniper Square.  I have not found a good, quality solution for small to mid-sized Sponsors.
  • Argus 2.0 - Argus is a piece of shit.  It is only used because it is widely adapted by the industry - brokers, appraisers, banks, etc.  There needs to be a better, most cost-efficient solution.
  • ArcGIS 2.0 - This has already been mentioned here, but would love a good, low-cost solution that has basic layers and that is in continuous development.  Think land development.
  • CRM - A CRM software that integrates with Outlook.  We deal with hundreds of different people a week ranging from investors, banks, contractors, and so forth.  I know too many Daniels at this point and I need a low-cost solution to manage notes.
  • Tax Solution - Would love to see a research solution that aggregates tax data on real estate (not residential) and can allow you to download this information and use during tax appraisals.  Tax districts get away with bloody murder sometimes because information is such a black box and hard to aggregate.
  • Project Workflow - A low cost solution to manage due diligence or project workflow throughout a SME.  If we have 10 people, we can't afford a higher end solution and tend to default to Excel trackers.  Would love a simple tracker to manage workflow across people better.
  • MH Rent Data - Would love an Axiometrics for mobile home parks.  You have to call around for comps because the industry is so mom and pop.
  • MF Concession Data - Better data on gross rents v net rents.  In high incentive markets (where they don't want to drop face rates), it is very difficult to make apples to apples comparisons accurately as incentives keep changing

I'm sure there's hundreds of other solutions I'd pay for, but would need to think on it more.

 

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