If someone used a fortune telling machine in 1978, it might have instructed seekers to find some property in Los Angeles and write a check as quickly as they could. It’s well known that legacy property owners in the city were locked into a one percent property tax — that they still have to this day — if they purchased property before 1978.
Ah, to have a real estate fortune telling machine. In a way, that’s what AI is attempting to do in proptech.
Short for property technology, proptech is the intersection of the real estate industry with software. Many proptech companies are starting to use AI as a way to identify investment strategies, property value trends and analyze the real estate market as a whole.
However, the advancement in AI is only just starting to reach the broader real estate industry. According to the National Association of Realtors, only 54 percent of realtors indicated that they were somewhat familiar with AI and 32 percent of realtors see blockchain as a potential industry impactor in the near future.
Built In Los Angeles spoke with Crexi, a proptech company that is leading the way in trading properties and AI-powered real estate intelligence, about why it’s a great place to work.
Crexi is a proptech company that helps the commercial real estate market using advanced, integrative technology and data analytics.
How long have you been with Crexi? What made you know it was the right spot for you?
I’ve been at Crexi for a year now. I generally look for two things in prospective employers — and Crexi got top marks for both — mission and leadership. There’s a tremendous amount of value in the commercial real estate market and the efficiency Crexi unlocks has a huge impact. I want a leadership team I can learn from, and Crexi’s team has that in spades.
“I want a leadership team I can learn from, and Crexi’s team has that in spades.”
What’s your favorite part about your office?
The atmosphere. The energy in the office is tangible and positive. People are extremely friendly and supportive. During the Covid-19 pandemic, I learned how much that matters to me.
Describe Crexi’s company culture in one word. What made you pick that word?
Innovative. I chose this word because Crexi continually strives to push the boundaries of what’s possible in the commercial real estate industry.
What does Crexi’s product do?
Crexi empowers the commercial real estate market using advanced, integrative technology and data analytics. The company’s AI-powered industry intelligence helped users close $540 billion in deals and market over $5 trillion in property value.
Whether it’s through developing new technologies, exploring creative solutions, or encouraging employees to think outside the box, innovation is at the core of everything we do. This culture not only drives our success but also makes working here exciting and fulfilling.
