Data transparency? Transaction timelines?
In this episode of "What's In Store?" Chris Ressa and Karly Iacono discuss what they would love to see improve in CRE. Focusing on the need for data transparency, the inefficiencies in transaction timelines, and the complexity of documentation, they explore potential solutions and innovations that could enhance the industry's efficiency and effectiveness.
Takeaways
- Data transparency is crucial for efficiency in commercial real estate.
- Transaction timelines are often unnecessarily long due to multiple approvals.
- Simplification of documentation can significantly improve transaction speed.
- Retailers are willing to share sales data if it aligns with their interests.
- The industry needs to adopt clearer and more straightforward agreements.
- Foot traffic data is not always reliable for sales attribution.
- The complexity of leases can lead to confusion and delays.
- Standardizing building measurements could streamline due diligence processes.
- Blockchain technology could revolutionize property records and transactions.
- The industry is evolving, and there is hope for addressing these challenges.
Chapters
00:00 Introduction to Industry Challenges
01:18 The Need for Data Transparency
12:21 Transaction Timelines and Efficiency
22:37 Simplification of Documentation
30:47 Future Innovations in Real Estate
