Welcome to TechTalk Radio, a weekly podcast brought to you by real estate intelligence provider EG. Each week TechTalk Radio hosts Emily Wright and Samantha McClary bring you interviews with the brightest brains in all things technology, data and innovation in the world of real estate. Listen in for everything from the impact of AI on human jobs to how tech will enable us to build better, cleaner and more useful environments for generations to come, with a little light entertainment thrown in.
Meet the tech firm with plans to unlock over £10bn within real estate by ripping up the rule book on commercial deposits
On this episode of Tech Talk Radio, EG head of content Emily Wright speaks to Insurami chief executive and founder Majed Chaaraoui and head of partnerships Jack Sibley.
Launched in 2019, Insurami effectively operates as a large-scale Deposit Guarantee platform for commercial real estate and is currently used by companies including The Howard De Walden Estate, Level39 and Huckletree.
Rather than forking out a hefty deposit in one go, tenants pay a monthly fee to the platform for a Deposit Guarantee. This then pays out to the landlord – up to the maximum cover value of £600,000 – if there is a default on the lease.
Off the back of last month's announcement that Fasanara Capital has joined existing investors including Global Founders Capital, Entrepreneur First and Clocktower Ventures in a £42m raise to facilitate Insurami’s expansion, the duo reveal what those growth plans will entail.
They also explain why they believe their tech solution will release billions of pounds worth of otherwise illiquid funds caught up within the real estate sector.
The great workplace battle is on. How connectivity will be landlords‘ greatest magnet for tenants as hybrid working takes hold
Hybrid working looks to be here to stay. That not only means that offices need to work harder than ever before to lure tenants back but a wide range of other asset classes must up their connectivity game.
On this episode of Tech Talk Radio, EG head of content Emily Wright is joined by Wiredscore president William Newton and Watkins Jones head of divestment and asset management George Dyer to discuss just that.
Wiredscore research has revealed that over half of Europeans consider their internet to be better at home than in the workplace. As the world gears up to embrace hybrid working, it is clear there is more to be done to ensure that connectivity is supporting hybrid working across a number of asset classes including offices, BTR and purpose-built student accommodation.
"The key thing now for us as developers is to design places where people want to live and a critical part of that now is also where people want to work," said BTR and student accommodation developer Watkins Jones' Dyer. "For us, connectivity is a key part of that as well as looking at how we can integrate things like business lounges and co-working spaces into our buildings and really create an environment where people are happy to live and work."
Newton said: “Looking to the future, we don’t think the productive home-working we saw during the pandemic was a temporary shift. This is a new way or work and a better, more constructive way for people to live their lives. We are now incredibly well set up for remote work and landlords should be thinking very carefully about setting it up for people who want it.”
“Don’t accept the residential market as it is. Ask for more, ask for better and demand flexibility.” Inside JLL and Lavanda’s rival to Airbnb
JLL's launch of JLL Short Stays in partnership with Lavanda last month is set to plug a gap in the market with a platform "to rival Airbnb".
JLL director Sam Winnard and Lavanda's chief executive Frederik Lerche-Lerchenborg joined EG's Emily Wright on the latest episode of Tech Talk Radio to reveal the thinking behind the launch and why they believe the residential sector needs to be better when it comes to embracing flexibility.
The new booking platform has been launched to offer business and leisure travellers professionally managed and fully flexible short-term rental accommodation in the UK.
"We realised there is a huge amount of demand for medium term, quality inventory," said Lerche-Lerchenborg. "People are relocating. People are in between long-term tenancies and the relationship with the office is changing. People are increasingly looking to book 3-month or 6-month stays, especially around the UK. But finding that high quality inventory is very difficult.
"We realised that we have a whole load of different partners including JLL clients but also other big asset managers like Greystar and Blackstone which means we have a lot of inventory."
JLL's Winnard adds: "With the short and long let markets, it has become more confusing as to what sits where. Applicants are coming to us with demand for 4-5 month tenancies. Ultimately we are seeing a closing in of two markets that aren’t as polarised as they once were."
The duo added that while Airbnb have dominated the short stay space for a number of years, they are hoping to access a more specific area of the market as people hunt for corporate relocations where a professional management of a portfolio of properties is required.
"Logging on and booking via an app like the Airbnb experience is what people want," said Lerche-Lerchenborg. "It is the perfect moment in time for this as the real estate market is maturing and we can deliver this technology to create a platform people want.
"I'd say to anyone looking for this sort of flexibility 'don’t accept the residential market as it is. Ask for more, ask for better and demand flexibility'."
”It always amazes me that the smoke and mirrors get so far.” Why time is nearly up for the tech firms with nothing real to offer real estate. Plus, how can you measure tech success?
“Simplicity is the ultimate sophistication.” So said Leonardo da Vinci, a man who knew a few things about problem solving. As the application of technology and digital innovation to solve problems within the real estate sector continues to dominate strategies across the board, the power of simplicity comes into increasingly sharp focus.
Of the many efficiencies offered by real estate tech, using digital technologies to expedite long-standing processes remains one of the most business critical. And while the rationale behind this strategy is simple, actually implementing the right tools for the job remains a challenge.
Fitting then, that this should be the discussion point for our latest episode of Tech Talk Radio. EG Head of Content Emily Wright was joined by Teresa Lee, vice president of Roundhill Ventures, managing director of Search Acumen Andrew Lloyd and Marcus Moufarriage, founder and chief executive of Ility to talk about how even the simplest ideas need careful execution.
“It is pretty well known that the real estate sector is quite behind in tech adoption,” said Roundhill Ventures’ Teresa Lee. “That means a lot of the things we are seeing now are what we perceive to be quite simple. But that also means there are a lot of opportunities to move the needle quite quickly. So, it is a great thing the technology is here, even if it is a little behind other industries.”
Ility’s Marcus Moufarriage agreed adding: “I think it’s a good thing there is movement at all because there has certainly been a tendency for owners and the real estate sector more generally to say 2we took the risk, we built the building. Now we are getting 20% and we will just go to the Cotswolds and come back in 15 years when your lease is up and renew you. It used to be a very light touch and very low service. But that’s changing.”
Search Acumen’s Andrew Lloyd said: “There has been no real pressure on the industry to change until recently. If you look at any sector that has gone through modernisation or digitisation it always starts with the simple, time-consuming things first and then moves its way into more complex operations. But you have to do the simple stuff first.”
True. But that doesn’t mean it is any easier to tackle these problems in the first instance. Steve Jobs once famously said: “Simple can be harder than complex: You have to work hard to get your thinking clean to make it simple.”
So, how can the real estate sector clean up it’s thinking?
The answer really comes down to necessity. The panel universally agreed that the pandemic has left real estate with no choice but to innovate and, by default, find that simpler state of mind and start to break down straight-forward problems. The biggest challenge will be separating out the tech companies with something to offer, and those cashing in on an industry now under intense pressure to change. Quickly.
Search Acumen’s Lloyd said: “There are lots of firms jumping into the space. There are many solutions to problems that don't exist out there.”
Ility’s Moufarriage agreed although added that the pressure is on the tech side fo the equation too, now more than ever. “It always amazes me that the smoke and mirrors gets as far as it gets,” he said. “I don’t think 2021 will be the year things unravel but I think next year it probably will for those who can’t actually deliver when real decisions are being made. Ongoing uncertainty means that decision-making process is a bit stalled right now so I think there is still room to wing it a bit. But if you are out there not really solving a problem and what you offer is not digital transformation but is just dressed up as that then the cracks will start to show.”
So those are some of the pitfalls. The panel also took some time to consider the signs of success. How does a real estate business measure how impactful their tech strategy has been? How do they know when they have played
How to solve a problem like biased investing
In this 30-minute episode of the EG Property Podcast, EG editor Samantha McClary sits down with tech leader and investor and founder of SuperPitch, Joyeeta Das, and Ayesha Ofori, founder of PropElle, investor and Goldman Sachs alumna, to talk about investing, entrepreneurialism and diversity.
Women, particularly women of colour, are massively under-funded as founders, they are often disregarded, not because of their business plans – which as you’ll hear from Das in this conversation, are often more considered and considerate, but because they are female. Often it is not on purpose, often it is not conscious, but often it is the case.
But instead of just talking about the issue, Das and her crew of supporters are doing something about it.
SuperPitch is a global cross industry initiative to eliminate the biased access to capital for under-represented founders, particularly women. The founders have committed to driving investment of $5bn in under-represented founders by 2026 by partnering with investors, mentors, influencers and experts.
To find out more about SuperPitch listen in and visit www.superpitch.co.uk
TechTalk Radio: In conversation with Altus Group chief executive Mike Gordon
In this episode of EG’s TechTalk radio, EG editor Samantha McClary is talking with Mike Gordon, the relatively newly installed chief executive of Altus Group.
The 31-minute discussion takes a look into the firm’s recent acquisition of Finance Active and how tech and data is enabling real estate to better manage debt.
Gordon also shares his aspirations for the company and his views on the spate of SPACS being launched with a focus on real estate tech and data-enabled businesses.
A thought provoking insight into PropTech
With some amazing guests and excellent hosts.