A backbone of every economy, commercial real estate (CRE) is one of the largest global asset groups. It amounts to a staggering $3385 trillion globally, according to IBISWorld.
But there’s even more to it. This industry is growing dynamically, with investors keen to seek value in CRE. The latest JLL report shows that global commercial property investment just hit the highest Q1 level in 10 years at $165 billion, 15% higher than the same period last year.
When you think about an industry like this, you probably picture sophisticated technology and software that helps commercial brokers manage their diverse portfolios. And yet that’s not always the case — in fact, the CRE industry is notorious for its hesitancy in adopting new tech.
According to the International Data Corporation’s global survey of CRE executives commissioned by Argus Software,
‘‘nearly one-third of the global CRE industry is still using spreadsheets as their primary tool for asset and portfolio management functions. As a result, there is potentially US $11 trillion globally of CRE assets managed within inefficient and error-prone spreadsheets.”
And this is not the only challenge CRE professionals are struggling with…
- Property search via MLS is lengthy and inefficient. There is no process to verify data that brokers list for accuracy and the information is often dated.
- Pre-lease due diligence checks are time-consuming. Verifying the property history, previous owners and tenants, compliance records, etc. is done manually and often depends on the physical availability of documents.
- Disparate and inefficient property/cash flow management. Each party in a CRE transaction — and there are a great many — depends on others to commit to their transactional obligations which is time-consuming.
- Industry data is kept behind closed doors. Brokers are reluctant to share industry data such as lease comps for fear it could be commoditized.
- Decision-making is getting increasingly complicated. Brokers lackindustry benchmarks, valuation and cash flow analysis, investment and debt management to build good models and identify the most promising locations.
AgentMile: Revolutionizing Commercial Real Estate
AgentMile is on track to transform the CRE industry by introducing the first decentralized CRE leasing platform powered by AI.
Having worked with real estate professionals since 2015, we have seen first hand that this industry is ripe for blockchain adoption. This inspired us to come up with a solution to transform the CRE experience for brokers, landlords and tenants. AgentMile platform is on track to deliver:
- Smart and efficient property search via a blockchain MLS;
- Digital identities of people and properties on the blockchain to facilitate due diligence checks;
- Smart Contracts to simplify property/cash flow management and reduce transaction dependency;
- Industry benchmarks and data open for all, yet incorruptible and not subject to commoditization;
- AI for better decision-making;
- Immutable reviews, ratings and much more.
Deploying blockchain for real estate transactions and land/title registries is also gaining increased support from governments in North America, Europe, Dubai and Japan. All these positive signs indicate that the commercial real estate world is ready to embrace a faster, better and more affordable way of doing business.
9 Reasons That Set AgentMile Apart in the Blockchain Landscape
As the AgentMile project evolves and our community grows, we’re getting plenty of questions and requests regarding our product and vision.
Most importantly, our community wants to know what makes AgentMile different to other blockchain projects in the real estate industry or otherwise? That’s a good question — according to Deloitte,
“… cumulative investments in these startups soared from $2.4 billion to $33.7 billion.”
We’ve heard your questions and here are some facts showing what sets us apart in this thriving industry:
1. We’re an established business
Our business has been going for 3 years. We were founded in 2015 and have been servicing both residential and commercial brokerages.
2. Global customer base
3. High-profile investors
4. We’ve signed an MoU with OmiseGO
We have signed a really exciting MoU with OmiseGO confirming our intent to work on several key areas which the team at OmiseGO will help support:
- developing a payment solution through Omise’s payment gateway for the AgentMile platform;
- building on the OMG decentralized financial network;
- joining the blockchain co-working space Neutrino which is part of the Omise community.
The OMG token, is currently the fifth highest market cap Ethereum project in the world and was the first Ethereum project to exceed USD $1 billion valuation.
5. We’ve gone DAICO with OpenLedger
To give extra security to our token holders and ensure the project’s sustainability in the long term, we’ve become one of the first projects in the world to embrace the DAICO model:
6. Featured by over 25 top industry review sites
We’ve been featured by over 25 of the top industry review sites. Here’s a full list of all our public listings in one handy place along with all our videos reviews and interviews:
- AgentMile Featured by Top Industry Review Sites [Full List]
- AgentMile Video Reviews & Interviews [Full List]
7. We now have the 5th largest Telegram group
In the space of a little over 2 months, we’ve grown to become the 5th largest Telegram group, according to to https://tgram.io/. Our community currently stands at 64,987 members and counting!
8. Award-winning products and projects
9. Why Commercial Real Estate?
We believe that commercial real estate is ripe for blockchain adoption — and the same opinion is shared by industry thought leaders. Take a look at the interesting research published with regards to blockchain in commercial real estate:
Deloitte is one of the “Big Four” accounting organizations and the largest professional services network in the world by revenue and number of professionals.
Colliers International is a Canada-based global commercial real estate services organization with approximately 15,000 employees in more than 500 offices in 68 countries.
- Real estate is ripe for blockchain-based disruption due to the complexity of the typical transaction
After the CBRE Group, JLL is the largest publicly traded commercial real estate brokerage firm in the world.
– Property Report
Property Report is the real estate digital publication run by the Property Guru Group, Asia’s leading real estate portal.
Forbes is the global media publishing original insights into finance, industry, investing, and marketing among other topics.
Discover more about the next wave innovation in commercial real estate by visiting our website: https://www.agentmile.com