Technology in the Real Estate Industry
Shalom Lamm is someone who has a keen understanding of the ways the real estate market has been affected by changes and advances in technology. Every industry of course has had changes and effects exhibited due to technology; but none have been the subject of more transformation than the retail sector.
According to Shalom Lamm, there are segments of the real estate industry that have been equally disrupted. For instance, if one were to observe the changes in the commercial real estate landscape, there are portions of it that are dominated by brick and mortar retail spaces. That inventory matters and is of great value to some real estate developers.
If the retail business is suffering, inevitably there will be difficulty and serious challenges among those that are in the real estate space revolving around that specific area. This should be a subject of intense examination and fascination.
For good reason, that ought to be the case. When one considers the health of the retail sector, the ability of owners and investors to lease their retail spaces is critical. If there aren’t purchasers, there is going to be a severe reduction in sales, and therefore far less cash on hand for those in the industry.
By extension, this leads to a shortage of funds available for leasing spaces for retail businesses, and for doing similar oriented things. This by extension, obviously affects the real estate industry in a severely adverse fashion. This is understandable, given the dynamics of business in general.
As more and more purchasers that are shopping for retail go from brick and mortar businesses to the web, this transformation will continue. The e-commerce platforms are especially in favor now, given the current health conditions on the ground – because of the Coronavirus pandemic.
The technology sector has changed many industries. Those changes are ongoing. The real estate industry is certainly one of a number of affected spaces that has no sign of slowing down.