As 2014 winds down and we prepare for a busy and exciting 2015, we caught up with Fundrise investor Deborah Harmon, the chief executive of Artemis Real Estate Partners, a multi billion-dollar real estate firm that focuses on US commercial real estate.
Recently profiled in the New York Times, Deborah shared her thoughts on how the rise of real estate tech will contribute to significant changes in the real estate business as it connects “buyers and sellers, increasing transparency, and reducing frictional costs.”
“Historically, the real estate sector has been slower to adopt new technologies and this reticence has led to an attractive opportunity for firms to apply technology solutions.”
“Knowledge is power and those with better knowledge can take advantage of information asymmetries. Industry players, like Fundrise, will be able to create value by bringing institutional-quality information into the retail investor space. By increasing transparency, and reducing transaction costs, Fundrise is creating a platform to give retail investors direct access to transactions that were previously only accessible to institutional capital.”
“Within the apartment rental market, suburban home sales, the hotel industry, and, of course, the commercial real estate space, technology is disrupting traditional market dynamics by connecting buyers and sellers, increasing transparency, and reducing frictional costs. Companies like Fundrise, Zillow, Auction.com, and AirBnB all demonstrate new ways of matching buyers and sellers through direct online marketplaces based on access to real-time information.”