Do You Have A Quant? If Not You Better Get One NOW!

By definition, a quant is an expert at analyzing and managing quantitative data. Seems like a pretty basic thing. For commercial real estate as with most of the business world, it is the way all business is now and will be done. In other words, having a quant on your team is the future now. You can Google it if you want but it's one of if not the fastest growing careers in the world and has no signs of slowing down anytime soon. Hedge funds now think its a must. There are even classes and associations being formed just to help the hedge business understand the dynamics and uses of quants as we speak. Hmmm, now there is an idea for you. #CREQuants (You saw it here first.) You hear so much about AI and according to some of the smarter people in commercial real estate, it's way overhyped at this point. I have a question for you. Why don't the hedge funds just use AI and quantitive analytics to pick stocks? Is the machine better at picking stocks than humans? So far that answer has been, NO. Is a machine better at picking what property to buy or sell than a human being? What if I say yes? Of course, that means it's about data an who inputs that data correct? I have mentioned before way back that at some point there will be enough data coming from a building that it will be able to sell itself. Don't think so? Really? How do you analyze a building or portfolio to buy today? You get all the possible data you can correct? Of course, you do. Somewhere sometime I heard a brilliant old school building owner say that the smartest things they ever did was find someone to just help them buy buildings. Nothing else. Just figure out what buildings to buy, that was their only job. How fucking smart is that? Yes, yes I know that's done all over commercial real estate. I also know that there are a few companies that have hired quants to help them also. What I have seen in the past year or so is BROKERAGES hiring quants to help them. Now that's seeing the future now for sure. What possible advantage would a quant bring to a brokerage? Wow, really I have to spell that one out for you? Here's an easy one. How about traffic and trip data? Too easy? How about commuting duration data? What could you do with that? Think about employment data and how it changes the economy in your market. Worth a look don't you think? But you're just about creating deals and making a sale right? It's what brokerages do. Are you sure that's what you do? Is that what your clients think you do? Is that all you want them to think you do? What if your biggest competitor in your market hires a quant? Should you worry? Hell, why worry you're just out doing deals. What are you missing? Do you even know what you are missing? I'm sure the company with the quant on staff has at least an idea of what “that” is. Do You Have A Quant? Can you afford to not have one? If Not You Better Get One NOW! +1 Idea: create a quant blockchain hedge fund. Hmmm, you heard that one here first too. You're welcome. The Evolution of REX. Prototypes, Seed Rounds, and Beta. You hear and see the stories about what BIM and Virtual Reality may do for the future of commercial real estate. Where are we now? How is it used on major projects today? And yes what implications will they have as our industry progresses? Oh, and... It's not just about the Las Vegas Strip that I can guarantee you. How do you get into commercial real estate with no background or experience? How do you build a book of business? How do you market and build a brand from scratch? Yes... Buildout CEO Vishu Ramanathan discusses how far CRE technology has come in the last decade and where it’s going in the years to come. Duke and I recently sat down for his podcast to talk about how far CRE technology has come in just the last decade...