01/08/2021 | by
Ferguson Partners research paper cover

Leading REITs in the United States are using technology as an “agent of change,” contradicting the notion that the industry is not innovative, according to a new study from Ferguson Partners’ Global Innovation + Technology Practice.

REITs surveyed for the study “have invested millions in new paradigms to innovate for and connect with customers.” These REITs are embracing disruption, growing markets, and hyper-specializing in strategies and sectors, the new study says: “They are moving the needle forward, innovating and integrating technology, data analytics, and top talent to surpass their competitors.”

In the wake of the coronavirus outbreak, physical distancing and the lockdown of physical spaces magnified the importance of digitization, particularly by measures such as tenant and customer experience. Within real estate, companies have invested in digital sales and leasing processes, augmented and virtual reality, telehealth, on-demand delivery, concierge services, virtual communities, contactless access for tenants, maintenance staff, and more, according to the report.

“As more users adopt digital-first products and services, users’ expectations will be raised, and players that provide a forward thinking, data-rich, tech-savvy post-crisis experience will stay ahead of the curve,” the report says.

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