Why Brokers Can’t Sleep on Tech

Kevin Maggiacomo, CEO & president of SVN International Corp. is featured in a GlobeSt. article published today and written by Brian Lee, an Atlanta-based freelance writer and former editor of Western Real Estate Business magazine.

As seen with e-commerce, the tech tide doesn’t lift all commercial real estate ships, but dedicated brokers stand ready to raise their game.

The effect of technology on commercial real estate brokerage will be one of re-intermediation, not disintermediation, asserts Kevin Maggiacomo, CEO and president of SVN International Corp. (SVN). High-tech innovation is having a profound and positive effect on the roles and goals of expert CRE brokers, making them more efficient and effective in the process.

“What’s missing from most of the disintermediation questions posed to me is an appreciation for the wide range of possibilities and scale at which technology can impact CRE brokerage,” said Maggiacomo. “Instead the discussion quickly turns to the more remarkable topic of if and when the traditional role of the broker will be rendered obsolete. That’s the biggest misconception out there.”

CRE owners appreciate the positive impact that technology-enabled brokerage can have on property values, Maggiacomo maintains. Sellers are capitalizing on syndication modules and to reach a critical mass of brokers and investors through tech platforms like Buildout and CREXi.

“Brokers need to get on the train before it leaves the station and harness the power of this category tech and abandon the hyper-focused practice of working to identify the buyers on their own,” said Maggiacomo.


Read the full article here.