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Law firm Goodwin Procter LLP launches PropTech practice to serve intersection of real estate and technology innovation…
Minta Kay (Chair of Goodwin’s Real Estate Industry group) and Salil Gandhi (partner in Goodwin’s Technology group) of Goodwin Procter LLP, join Thomas Kutzman and Scott Pollack in the MouthMedia Network studios powered by Sennheiser. Presented by Prevu.
In this episode:
- What inspired the PropTech initiative at Goodwin Procter
- The firm’s huge global real estate bench, and huge technology bench
- How the firm has been getting a lot of calls, inquiries
- Woke up with convergence of practices, obvious place to go
- Tech – type of company, not an industry sector
- Also Fintech, Blockchain, do a lot in that space as well
- Real estate has been slow to adopt tech—that’s changing
- Need to pay attention, a cascade coming down around them
- Real estate becoming a service instead of just a hard asset
- The greatest potential for opportunity
- From first innovations on prop tech side on consumer listing sites, been seeing it on consumer side for awhile, bigger than a couple of entrepreneurs disrupting
- Investors are investing to remain abreast of latest innovations
- Keeping informed on opportunities to return investor returns, smarter buildings, manage portfolios
- How people are thinking about what a building is and how it is structured, and that it is driving business decisions and entrepreneurial innovation
- Why autonomous cars are important for real estate
- Why re-purposing of spaces and buildings is huge
- Going to raise a lot of new bureaucratic activity, permitting, zoning
- Collecting more data than ever before, so sourcing deals to pricing deals, design, maintenance
- From one transaction to an ongoing sharing of information
- Open-mindedness on real estate and regulatory that will allow innovation to occur
- Elasticity in the space is very important
- The need to house fleets of vehicles is coming, a shift is needed
How smart contracts can shift advice business - From ballet, chemical engineering and art history — to law
- PropTech is happening now in Asia too
Ryan Baxter, making NYC’s built environment more educational, Founder/Chairman of 
Vincent Pavanello
The real estate industry is antiquated. For most people they think of the residential real estate first, and that’s lagging enough. But technology and innovation in the commercial real estate space? That’s twenty years behind residential. An exception to this is Squarefoot, an online brokerage platform that enables companies to find commercial properties without going space to space.
Jonathan Wasserstrum
The state of affairs of commercial real estate today, two decades behind residential real estate, comparative sizes of residential vs. commercial
Harley Courts
Courts discusses the impact that the company’s atypical management and structure has contributed to its success, what he took from running a skateboard company, leadership, building a collaborative, mission driven team, how his skateboard company failing led to becoming the super of a building, then meeting numerous real estate brokers and realizing he can do that, starting Nooklyn as a blog, and having so much success that he had to hire agents. How when giving listing data away you have nothing, as it’s a core asset. How Nooklyn is giving renters control over process, plucking away at removing friction for renters, the majority of the country is still on Craigslist for rentals, and why the highly regulated nature of the real estate industry, and the fact that this is the largest purchase most people will make, means brokers will remain.