Potential for Large Expansion in Real Estate Technology Sector

With real estate being the largest asset class and the largest lending category in the United States, with valuations coming in at $40 trillion and $12 trillion respectively, one would think there would be a plethora of services catering to the real estate segment of the American economy. However, there is much room for development in this area, especially in regards to commercial real estate. The areas seen as having the greatest opportunity for improvement are technologies involving property management, research and analytics, listing services and tech-enabled brokerages, mobile applications, and residential and commercial lending. Venture capitalists have taken notice and are beginning to send money in large quantities to companies trying to develop new services for the industry. In 2014, $605 million was put toward real estate technology funding. This number was over 2.5 times greater than the amount invested in 2013, leading people involved in the industry to believe that the money will continue to flow in that direction. 

Half of all of the sector’s funding in the United States is taking place in New York City, which is host to many up-and-coming real estate technology businesses. It makes sense that New York City has seen the greatest influx of capital; according to research done by Cushman and Wakefield, NYC has been the world’s largest commercial real estate market every year since 2010. With that being said, the market for real estate technology is not limited to New York City or the United States for that matter. Demand for improvements in this area are global; half of the top 12 commercial real estate markets in the world are located outside the United States.

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Virginia MacKoul

Virginia is a graduate from the University of Florida's College of Design Construction and Planning with a degree in Sustainability and the Built Environment, and a minor in Urban Regional Planning. Virginia joined the Front Street team in 2011, as an intern. Upon graduation, Virginia joined the Front Street team full-time as the Director of Client Services. Ms. MacKoul’s addition furthers Front Street’s continued growth and expansion within Gainesville and other North Central Florida markets. She was promoted to Director of Marketing in 2014 and now manages the firm’s team of interns and oversees all marketing and branding activity. Virginia was born in Boston and moved to Lee County, Florida in 1997. Virginia graduated her high school's International Baccalaureate program and started at the University of Florida with a focus on Architecture. Virginia shares Front Street's passion of giving back to the community and those in need. Virginia's hobbies include photography, cooking, football, movies, music, and spending time with her dog, Brinkley.

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