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Entering The Real Estate Market

 

Innovative ideas to combine technology, environmental consciousness, and location seamlessly slip into their new roles as homeowners. With the millennials’ flair for making the most of what they’ve got, the boomers might soon be looking to the millennials to help navigate the new real estate markets. 

 

Millennials make up the largest demographic in the nation, with over 70 million millennials eagerly waiting to enter the real estate market, making up most of the home-buyers market at a whopping 53.7% in Dallas alone, for example. A study conducted by the National Association of Home Builders concluded that despite a few millennials still choosing to live in the quiet greenery of suburbia, there are a great many of them that are preferring to settle in the city.

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Leveraging the ParqEx Marketplace

FOR INDIVIDUALS

FOR BUSINESSES

List your parking now!

Or visit app.parqex.com

OR LEARN MORE HERE

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As rapid innovation continues with IoT technologies, the results of their combined use are yet to be fully understood. The reverberations of the shift, though, will be felt as an after effect of the sweeping change, the transformation from outdated legacy systems, modes, methods, and tools – to innovative online software solutions in the cloud.

Smart cities are being developed by many individual companies using separate systems that communicate with each other. 

Market Analysis and Knowledgeable Research

One of the most challenging and logistically confusing daily tasks is parking. Traveling around in cities or unfamiliar neighborhoods, drivers are wasting valuable time and money trying to find the ideal parking spot. At the same time, the home parking garage is still a piece of equipment that has yet to fully be integrated into the digital home.

Whether you’re booking your spare bedroom or an entire investment property, where your guest’s park can make a big difference. Garage space provides a protected and homey welcome, but you don’t just want to leave your garage door hanging open until your guests arrive or make them call you to open it.  Multifamily residents currently rely on a non guaranteed reservations for a spot within their garage or guest parking is not even available at the community. Residents also find having to exchange a fob or provide a parking sticker as a means of validation. IoT technology is working together through the innovative cloud and mobile solutions, in order to solve complex logistical issues. The agility and flexibility being offered by the cloud are far preferable to, exclusively, on-premise logistical solutions. 

IoT technology is working together through the innovative cloud and mobile solutions, in order to create business opportunities and solve complex logistical issues. The agility and flexibility being offered by the cloud are far preferable to, exclusively, on-premises logistical solutions.

Sights On The Future of Real Estate Tech

The IoT is always involved when speaking about smart anything, and almost all technology is smart at this point. Smart parking garages are using monitoring devices to detect vacant spaces, then automatically sharing the data to their own systems and any specified partners.

For instance, the parking garage business may want to automate real-time updates of vacancies to the city’s tourist guide mobile app, or event centers’ apps might want their customers to have access to available spaces.

This isn’t to say that all hardware, paper, and analog systems will be completely eliminated, rather, they’ll be reduced and minimized. SaaS, PaaS, and emerging subscription software are allowing SMBs to streamline, expand, and improve the quality of their work and production – this is hard to ignore. Technology is promising to be the best solution for overcrowded city streets, in the U.S. and worldwide.

Competition in this space has generated an increased awareness from the real estate owners and the providers of these technology stressing their importance for growth. The Future of Real Estate Tech continues to push VC’s and startups in this space for a multitude of reasons. No one has found the key to Pandora’s box at this given junction, leaving the door open for challengers to propel the groundwork needed for the sector’s continued growth and development.

Property Management and Residents Look For Education

The real estate community is using technology in ways that make sense for residents. The advantages and opportunities that innovative cloud and mobile technologies offer are promising to solve parking woes and boost the local economy at the same time. Before, solving parking woes would have meant building more parking spaces, which means cities and/or businesses had to spend money, therefore making taxpayers and consumers pay for it.

The IoT, in relation to smart cities, is the technology and online systems being used to create innovative solutions and solve complex logistical issues, such as parking. For instance, parking spot sensors are being used by parking garages and city governments, in order to inform drivers of vacancies (and owners of non-compliance) and navigate them to the spot – all through their smartphones. Technology and the IoT have even shown to play a positive factor on individual health.

Essentially, what makes IoT technology so powerful is its ability to communicate and integrate with other systems and technological solutions within a city or community. Using cloud and mobile computing technology, combined with the nearly universal rate of smartphone usage, the IoT is creating innovative solutions not possible before. Closing a garage door from across the world through a mobile app is a good example.

Listen To The IoT Parking Expert

Katie Williams recognizes the lack of movement and innovation within the real estate realm. IoT within the private parking/ multifamily properties are newly discovered and emerging – there is a need to revolutionize and disrupt the current trends and inefficiencies with smart real estate technologies and smarter parking.

Katie realizes there is an underutilization of parking assets in the Chicago and surrounding markets. This is evident by poorly managed private garages offering ease of resident-guest experience or lack thereof. She looks to educate multifamily owners, residents, and property managers on the hidden value of their parking and how IoT technologies serve as a tool for the space. They provide an additional amenity in a space that is always searching for the next best thing, with a value-add to aid in boosting their ROI and bottom lines.

Please reach out to Katie if you would like additional information on how these IoT solutions can help your property today!

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It’s not finding an apartment or buying a house or renting a motel room. For many people this is a daily struggle.

Finding a parking place.

Urban Parking is a Problem Begging for High Tech Disruption to Solve It

Chicago parking and parking in many other metropolitan neighborhoods is a constant battle. Every place is already taken by a car that will never leave. At least, you’re never there when the spot opens up. Instead, you drive around burning up gasoline and contributing to smog for no useful purpose. That’s especially true of West Loop parking and downtown parking.

However, cars do leave those parking spaces because the owners have to drive to work, to school, back home, to the mall or wherever.

Why shouldn’t someone else park in those spaces when the owner’s car is gone?

That’s where Chicago startup ParqEX comes in. They have a mobile app which allows parking space owners to rent their spaces out to parking space seekers. They can do so on an hourly, daily, weekly or monthly basis.

The parking space owner makes extra money. The renter gets a convenient parking space with no hassle and at a low price. And the space renter is not driving around looking for an empty space, reducing the traffic snarl and air pollution. Because the owner and the renter use the space more efficiently, everybody wins.

ParqEX has both long term parking and on demand parking spots available.

ParqEX is One of Many Real Estate Tech Firms Transforming the Industry

According to Bob Gillespie, Executive Director of the Elmspring Accelerator, many real estate companies are now looking for innovation, and getting it.

FoggyTrail

Like ParqEX and Airbnb, FoggyTrail enables more efficient and organized use of real estate, but they concentrate on the great outdoors. Hunters, fishers and hikers find owners of land willing to give access for a fee that’s a lot smaller than what local guides charge.

HerbFront

For the last several years, states have been rolling back their laws against medical and recreational marijuana. This November, 9 states will vote on legalizing it. However, “legal” doesn’t mean lack of regulation. The states strictly scrutinize the cannabis industry, applying zoning and other laws. HerbFront uses data and mapping technologies to connect growers and retailers with cooperative landlords, ensuring 100% compliance with all regulations.

Enodo Score

Enodo Score is a startup collecting, organizing and analyzing data about rental unit characteristics to help landlords determine the true market value of their units. This will also help them determine how best to allocate their renovation budgets.

Property Carnivores

Another startup company from Elmspring Accelerator, Property Carnivores, streamlines online marketing for agents so they can spend more time engaging with clients. Home buyers and sellers both want contact with experts to help them go through the process. It’s emotional for both parties, so they need someone who will reassure them and, using their experience and a professional perspective, help them through it.

Using technology to handle the detailed, routine work while engaging with their customers and clients is probably the secret for everyone who wants to have a job in the next five years. As people spend more time online and in virtual reality, they will need the human touch all the more at certain critical points, such as selling or buying property.

Guaranteed Rate

This real estate high-tech company works for the home buyer, not the agent. It lets them eliminate paperwork and consolidate information by performing the necessary tasks on their site. That includes searching for and choosing which type of mortgage they want, ordering and reviewing credit reports from all three credit bureaus, getting approved by Freddie Mac or Fannie Mae, uploading and digitally signing their loan documents and order appraisals.

For more information on how this parking startup is part of the real estate tech boom, contact us.

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Traffic congestion and parking availability are real problems for most large developed cities, yet bright tech companies are developing innovative services to integrate connected cars with the connected real estate – in an effort to: change the real estate tech landscape through the evolution of connected cars.

Evolving Connected Cars

What does this “connected” really mean? Basically, it means online connection and integration with the surrounding real estate tech: parking garages, driver-less cars, online cars, residential and commercial parking spaces, mass transit, delivery services, government oversight, etc.

According to Wikipedia:

“A connected car is a car that is equipped with Internet access, and usually also with a wireless local area network. This allows the car to share the internet access with other devices both inside as well as outside the vehicle.”

Along comes the rapidly advancing cloud and mobile computing technologies, transforming the connected car’s capabilities with mobile apps and remote access; the cloud and mobile devices are giving connected car owners enhanced: convenience, security, functionality, and comfort in their day-to-day use – not to mention the option to not even drive or own a car (driver-less cars).

For instance, here are some features of cloud based connected cars, explained by Wikipedia:

“Increasingly, Connected Cars (and especially electric cars) are taking advantage of the rise of smartphones, and apps are available to interact with the car from any distance. Users can unlock their cars, check the status of batteries on electric cars, find the location of the car, or remotely activate the climate control system.”

Also, mobile apps are being used by connected car real estate tech to:

– find parking spaces

– get rides

– rent private vehicles

– deliver commercial or residential packages

– integrate parking garages online

– integrate driverless cars online

– connect all other real estate tech services to the connected car’s functionality.

Connected cars are evolving in tandem with the real estate tech around them; for instance, diverless cars (the ultimate connected car) present tangible solutions, yet still won’t be adopted by the masses until a streamlined system is set-up to facilitate start to end transportation – including parking.

Parking and Connected Cars

Driverless cars are the future for connected cars, and the technological and physical infrastructure to facilitate its mass adoption are being developed now. This is the topic discussed in a recent article found in online publication ChicagoInno, called: “How Are Parking Startups Preparing for a World With Driverless Cars?”, written on June 8, 2016 by Jim Dallke.

Lauren Isaac, Manager of Sustainable Transportation, has some interesting driverless car predictions, as the article explains:

“Predictions vary on when driverless cars will become a reality. Isaac believes we’ll see autonomous vehicles publicly available around 2018-2020, and 30%- 40% adoption rate by 2030. And we may not see 100% adoption until 2080 or 2090, if we get there at all.”

These driverless cars still need various parking locations to facilitate quick service to an entire area. The ParqEx App, for instance, would provide a parking platform for owners of driverless cars to use for optimal logistics. Finding parking solutions with technologies, like ParqEx, and integrating parking facilities online with the surrounding real estate tech, are both vital components in the evolution of connected cars, especially driverless cars.

Summary

The sharing economy is being developed using: mobile app and cloud computing technologies. The availability of Internet access has dramatically increased since mobile and cloud computing technologies have become readily accessible for nearly everyone in America. This is changing the way businesses operate and society interacts.

The evolution of connected cars is integral to the sharing economy, including logistical solutions like: delivery, transportation, and parking – all involving connected cars. Driverless cars will be a viable option for the masses only when parking arrangements are facilitated with automated online solutions. Ultimately, the evolution of connected cars is: driverless cars integrated into the real estate tech surrounding their day-to-day functionality.

Please contact us to learn more about connected cars and our parking solutions for them.

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During the past few years real estate has seen a revolution in marketplace tech. Information is the lifeblood of this business, and some new and innovative companies have developed marketplace apps to pull together that information so it can be used easily, confidently and profitably. These companies have created new market segments, discovered new opportunities, and brought efficiency to the real estate marketplace. Each one is using existing data, applying marketplace tech to put useful information into anyone’s hands via marketplace apps.

Companies That Create New Marketplaces

Rent Like a Champion found national fame when it won a Shark Tank investor to back it. The simple concept is that, throughout the year, groups of friends, associates, families and co-workers want to stay for a short time somewhere else. They want a place with bedrooms, living space, a kitchen and bathrooms that is close to the event. That event could be a sports game, a wedding, a commencement speech, a local festival or a company retreat. It doesn’t matter what the event is, what matters is that they get to stay together for the duration. The company, basically puts people who want to rent out their home with people who want to stay there. Simple, safe, secure – and profitable.

Foggy Trail does for hunters, fishers, campers and country-break enthusiasts what Rent Like a Champion does for city folk. It links them up with landowners and other back country property owners. It saves the DIY hunting groups from having to do all the hard work, themselves. This marketplace app helps the renter find  land leases, arrange annual hunting leases, search for outfitters and guides according to price range, and then to book their trips.

Neighborhoods.com solves one of the biggest problems for a potential home buyer. It lets them explore whole neighborhoods before they start driving around them, or taking up Realtors’ time by being driven around, only to decide the houses were fine “But we didn’t like the neighborhood.” This marketplace app enables buyers to search areas and to get a great feel for the ‘neighborhood vibe’. What do current residents think? What would they change, if anything? What is the sales and property valuation history over the past three years? The list goes on. Discover the neighborhood you want to live in, then find the home. Great for the buyer and great for the Realtor.

Another powerful real estate marketplace app is the one developed by ParqEx. Large cities like Chicago have limited parking. An out-of-area business person needs to arrange meetings over a day or longer, families want to visit the theater, a group arranges a short or long vacation. The reason and time scale do not matter, what does matter is that the driver can locate the perfect spot, reserve it and use it just like it was theirs. They choose from different locations, see pictures of it, and the locale, and read user reviews, so they know exactly what they will get. The parking spot owner, who doesn’t need the spot for part of a day or for a whole month earns income on what would have been an empty space.

Companies That Discover New Opportunities

Enodo Score makes decision-making safe. Should a developer build their new speculative project in this area or in that one? Should a landlord renovate the kitchen before renting out that unit again? This piece of marketplace tech pulls in data from public and private sources so developers, builders, owners and landlords can make sound commercial decisions about ROI. The users of this marketplace app can analyse potential new markets or just test value-added strategies against each other to see if the current data says go or no-go on minor or major projects.

HerbFront has looked at the real estate marketplace from a new and growing perspective. more and more states are moving towards licensing recreational and medicinal marijuana. Deciding where to locate a traditional store is fairly straightforward, but knowing where to locate a cannabis outlet is much less so. The local laws, regulations and zoning codes are complex. HerbFront maps both suitably available properties within commercially viable range of the growers.

Companies That Streamline the Paperwork

BrightPolicy takes the effort out of finding and buying the right insurance policy. When someone buys a home, they get used to paperwork and so much of it is duplicated words and numbers. This company gathers current data based on the applicant’s address and contact information. Then it searches for all relevant data associated with insurance, emails the sheet to the client, who verifies it as correct, and then BrightPolicy searches for the best insurance carrier and policy to suit the given criteria.

SMS Assist maximizes profitability for the multi-site commercial real estate manager and the contractors who maintain, renovate and repair those properties. with over 130,000 client properties there is a huge need for managers to have work pre-planned completed on time with all appropriate paperwork, and executed to the right standards. SMS Assist uses marketplace tech to manage all project planning and execution to maximize efficiencies and drive down costs.

Guaranteed Rate will find the right mortgage for each client. Clients choose mortgage options based on criteria such as lowest monthly payment, lowest interest rate and preferred term. It get the loan pre-approved through Fannie Mae and Freddie Mac, then arranges appraisals and sends in the paperwork to be signed. Simple and hassle-free mortgages from search to sign. It works for the buyer, the Realtor and the title agent.

Property Carnivores makes Realtors more efficient, more successful and more profitable. This company has applied marketplace tech to the Realtor’s marketing program. Social media is where the buyers and sellers are. Managing the right social media platforms takes techno-savvy. Most Realtors do not have the time to learn how to use social media well enough to attract, engage, cultivate and bond with prospective clients. This company plans and manages that so the Realtors can spend their time actually working with clients.

Ten great companies, ten powerful approaches to the real estate marketplace that satisfy needs and deliver results, all because marketplace tech can be developed and condensed into marketplace apps. If you would like to learn more about how we can help you find the right parking spot, or make money from yours when you don’t need it, please contact us so we can answer your questions.

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