Real Estate Investor Magazine South Africa November 2019 | Page 21

According to CEO and founder of Enlight Strategic, Tanja
Lategan, “with fewer buyers and not as many people affording
to pay rent, coupled with excess stock as individuals and
businesses relocate elsewhere, times are tough” it is wise that
estate investors make use of the following tech trends.”
1
Disintermediation
With tech innovation and rapid change in online
content, commercial property tenants are becoming
wiser and more tech savvy than before. Equally so,
offshore and other property tenants are becoming more
educated and switched on so that the use of intermediaries
is becoming a thing of the past. Buyers and sellers pitch, view
and finalise property buying transactions completely online.
Here are the ways in which technology has removed
intermediaries during property sales:
Schedule online applications
Leases can be signed in different parts of the world
Keyless viewing
Peer to peer asset trading
Virtual and augmented reality used for viewings
Property documents and history saved securely via
blockchain
BidX1SA uses technology to increase the audience of their
property auctions. It brings buyers and sellers together through
an online property auction platform. Buyers have access to a larger
variety of properties and sellers are able to receive a suitable price
for their property with less time on the market.
MC du Toit, CEO of BidX1SA says: ‘Now acquiring property
for sale on auction via an online platform is rapidly becoming a
convenient and secure way of transacting. It’s a whole lot easier
and quicker than physically attending an auction at a specified
location. Plus it’s secure, and provides an opportunity to
acquire a property at a value-for-money, market-related price.’
2
Tenant centricity
The real estate sector has seen a number of investors
and building owners opting for this strategy, fuelled
by the advancement of technology. Co-working
spaces are a way for property owners to make more money
out of the unused spaces in their buildings. With all tenants in
the same space, this means less admin for the landlord as there
is only one building to regularly check, report to and manage.
Various rental/leasing companies have mastered the
concept of keeping their tenants as close to one another as
possible. WeWork remains one of the most relevant examples
of pioneers and masters of this trend.
The collaborative workspace of Attspace is a first for South
Africa. Its shared office space is in a national monument built
in 1798 and second-oldest building in South Africa’s second-
oldest town. But the history of the property is emphasised by
the paradox of the new trend that it represents.
The advantages of tenant centricity:
Move to shared workspaces
Meet lifestyle and work hours half way
Less space is required for fixed employees
occupying the office
Greater flexibility from the landlord
“Attspace is Atterbury’s first venture into the exciting world
of co-working. We are experimenting with the concept at our
Stellenbosch property and, based on its success, intend to
expand our unique vision for shared offices into other areas of
South Africa,” says Jackie Raubenheimer, leasing manager of
Attspace.
3
Augmented Analytics
With cutting down on intermediaries comes the
burden of maintaining high data as proof that
the sudden digital change to does indeed work.
This is in the best interests of investors, developers, buyers
and sellers. It is not solely to impress and keep a great track
record for future reviews. But to show that certain ventures
or online projects yield particular results and at certain
times.
“The role of data is becoming more indispensable by the
day, regardless of your industry. While certain sectors adapt
to change quicker than others, real estate in South Africa
is long overdue for positive and progressive change,” says
Louise de Beer, Head of the Business Intelligence task team
at Leadhome.
It is through technology that the market and customer
behaviour can be studied, analysed and interpreted:
Analytics are becoming more important to buyers
and sellers
Trend predictions/predictive modelling
Customer Data Platforms are used to understand
customer behaviour and to market to right people
at the right time
More informed decisions based on trends and
markets
Purchase analytics can improve the quality of
building services offered by building management
Better ways to view information and draw
conclusions. No need for data scientists
Real estate disruptor, Leadhome, has changed the
real estate industry for the better with their innovative
technology. Their clients have 24/7 online support and
have access to a dashboard where they can monitor their
property’s performance in real-time.
Louise de Beer says, “We are currently implementing
artificial intelligence to automate property valuations.
This includes tasks such as the analysis of photos, market
conditions, previous sales and input from property experts.”
SOURCES Enlight Strategic, BidX1SA, Leadhome & Atterbury
SA Real Estate Investor Magazine NOVEMBER/DECEMBER 2019
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