Sirius Sirius Real Estate

 

Proptech is not just a buzzword. While the real estate industry may not have always been as quick to adopt technology as sectors such as retail or financial services, the appeal of using various technologies to improve tenant and property-owner business functions in commercial property is clear. And now proptech has become its own entity, with new businesses popping up daily to serve the need of the segment. But are any of these services actually useful and practical to implement?

A KPMG survey finds 93% of companies believe that “Traditional real estate organizations need to engage with proptech companies in order to adapt to the changing global environment”. As a business leader, this is a little surprising as for every really useful tech innovation, there are a dozen gimmicks that add little real value. I believe that before we go jumping at the new virtual reality showroom or augmented reality walkthrough, businesses first need to look from within first to see where they can improve. As ever, this involves listening to our tenants to understand where the real benefits of new technology lie. Simpler technologies, when applied strategically, can be way more effective for a business than the superfluous, flashy executions.

Tech makes tenants’ lives easier

Given the ongoing evolutions within the workplace, more flexibility is expected by employees from their employers, and in turn, more flexibility is expected by employers as tenants from the property owner. This flexibility is reflected primarily in leasing options and the technology offered in the property. From a technology perspective, our tenants look for Sirius to nail the basics and to be evolving with their needs. We frequently receive requests for softphones, standing desks and centrally-run keyless entry systems. And Sirius is flexible enough to adapt to meet those needs. 

The key area of technology where we have focused our efforts to support tenants has – according to a recent Property Week survey – had the second-greatest effect on the property industry in the last 5 years: back-office automation. Key tech implementations and advancements include systems of inventory distribution, tenant communication, sustainability solutions and remote booking systems. Through these areas, we are adding value to the customer experience, while making it simpler for our employees to manage properties.

Tech allows property owners to be more adaptable

The KPMG survey also reveals that 66% of real estate organisations do not have a clear enterprise-wide vision and strategy when it comes to digital and technology innovation. This is an area where myself and the rest of the leadership team at Sirius have placed a major emphasis over the past few years.

This begins with our sophisticated CRM systems, so the first port of call with a potential new client is efficient, effective and reassures them that we are able to handle their needs as a tenant. From the onset, our sales team has populated information about a lead and their needs, so the customer gets contacted quickly, with more knowledge, from a confident salesperson. While this may be seen as simple to many organisations, the level of sophistication at Sirius is unparalleled among German real estate companies. And this is a major factor which has not only led to 5% LFL annualised rental growth over our annual reporting period, but to a 15% sales conversion. Our proprietary system converts more leads to paying tenants, and many tenants are willing to pay more each year as a result of the value they receive – more than simply use of the real estate – but the confluence of practical real estate, technology and total service.

It’s good that proptech is getting it’s due, as it is extremely important to develop the real estate industry, but companies need to focus on providing relevance and value over flash and flair.

What do you think? 

Important

Please select your jurisdiction of residence:

Location

Please select the jurisdiction in which you are presently located:

Telephone

The international dialing code for my primary residence is:

Disclaimer – Important

Viewing the materials you seek to access may not be lawful in certain jurisdictions.  In other jurisdictions, only certain categories of person may be allowed to view such materials.  Any person who wishes to view these materials must first satisfy themselves that they are not subject to any local requirements that prohibit or restrict them from doing so.

The information contained in this website, including any material you may hereafter access, does not constitute an offer of securities for sale in the United States or any other jurisdiction. Securities may not be offered or sold in the United States absent registration under the U.S. Securities Act of 1933, as amended, or an exemption from registration.  No public offering or sale of securities in the United States is contemplated. The information contained in this website, including any material you may hereafter access, is not to be provided by you to any other person, in electronic form or otherwise, and is not to be accessed, published, copied, forwarded or otherwise disseminated in or into the United States.

If you are not permitted to view materials on this webpage or are in any doubt as to whether you are permitted to view these materials, please exit this webpage.

By proceeding, you agree to comply with the terms set out above and confirm that you are a resident of the country you identified earlier and you are accessing this website from within the country you identified earlier, and you additionally represent, warrant and agree that you are not accessing this website from within the United States.

No Access

Thank you for your interest.  Legal restrictions prevent us from allowing you further access to this website.

If you believe you are a resident of, and located in, a jurisdiction where viewing is permitted by law, and you can confirm that to us, please contact us.

Return Home