{"id":20571,"date":"2018-07-06T06:00:53","date_gmt":"2018-07-06T13:00:53","guid":{"rendered":"https:\/\/www.yardi.com\/blog\/?p=20571"},"modified":"2020-12-25T01:10:18","modified_gmt":"2020-12-25T09:10:18","slug":"realcomm-recap","status":"publish","type":"post","link":"https:\/\/www.yardi.com\/blog\/realcomm-recap\/","title":{"rendered":"Realcomm Recap"},"content":{"rendered":"

Yardi\u2019s Rob Teel, senior vice president of global solutions, and Todd Huebsch, vic\"\"<\/a>e president of commercial sales, discussed key trends in the commercial real estate industry in interviews at the recent Realcomm and IBCon conferences. Excerpts follow.<\/p>\n

Q: What are some key shifts that you\u2019re seeing in commercial property management?<\/strong><\/p>\n

Huebsch: <\/strong>From an enterprise platform standpoint, software products historically have been developed for people in back office operations such as accounting and property management. Now we see the emphasis rapidly changing to the front office\u2014people in the field who are managing leases, construction projects and facilities. Enabling that move is a series of mobile apps<\/a> and role-based tools that simplify tasks and help front office people do their jobs faster, easier and more efficiently while seamlessly connecting to the back office. These new capabilities speak to reducing risk and increasing asset value<\/p>\n

Q: What is Yardi\u2019s primary focus area at present?<\/strong><\/p>\n

Teel:<\/strong> There are three. One is Yardi Elevate<\/a>, which, in contrast to the traditional chief financial officer focus of property management software, is tailored to a chief operating officer whose direct reports might include the leaders of leasing, asset management, construction and facilities management.<\/p>\n

Another key focus is energy management<\/a>, which addresses the needs of COOs and chief engineers who are looking to reduce consumption and expenditures and boost sustainability. Yardi has made five acquisitions in three years in this area and it\u2019s one of our leading long-term strategic visions.<\/p>\n

And coworking has gone through a revolution in the last two years. Today about 1% of commercial offices in the U.S. are tagged as coworking space but we think it might go to 5-10% in the U.S. and globally within a few years. We made two acquisitions that brought us the Yardi KUBE<\/a> intelligent management platform, which markets space such as conference rooms and hot desks by day, month, year or other short term; and the Medusa<\/a> network platform provider. These solutions combine to provide a one-stop shop for coworking technology.<\/p>\n

Q: Can you give an example of how coworking is manifesting in commercial property management?<\/strong><\/p>\n

Teel:<\/strong> Facebook was recently reported to have leased more than 200,000 square feet of space in Mountain View, Calif.\u2014not from the building\u2019s owner, but from a shared space provider. That shifted the landscape of how leases can be done. Rather than negotiate with the owner for a traditional structured, rigid long-term lease, Facebook went through an intermediary for the term flexibility and supportive physical work environment they needed. The property owner, in turn, got a higher rent rate because they\u2019re taking on risk with a shorter lease.<\/p>\n

Q: How else is Yardi staying abreast of key trends?<\/strong><\/p>\n

Huebsch<\/strong>: One way is by enabling real estate companies to connect more easily to their vendors, general contractors, brokers and others. Yardi Deal Manager<\/a> and VENDORCaf\u00e9<\/em><\/a> \u00a0are examples of how we help companies extend beyond their firewalls and collaborate with tenants and constituents on leasing pipelines, vendor management and online payments, among other operations.<\/p>\n

Q: How does Yardi maintain its leading edge?<\/strong><\/p>\n

Huebsch:<\/strong> Partly by sponsoring and attending all of the major real estate conference including Realcomm and IBCon. This keeps us close to key trends and what property owners and operators need to run their businesses better, reduce vacancy and increase revenue. As Rob noted, most commercial property owners haven\u2019t adopted coworking into their portfolios yet, but many will pretty soon. Ensuring that our customers have a solution that\u2019s ready to go when a trend hits is part of Yardi\u2019s visionary approach.<\/p>\n

Teel<\/strong>: We\u2019re a big company now, with about 6,000 employees. It could be easy to get complacent and rest on our existing products and ride those through the next few years, but it\u2019s a really exciting place to work. [Founder and president] Anant Yardi is constantly pushing us into new directions, such as coworking. He likes to say we\u2019re like 20 different startups operating under one brand. A lot of our teams work like startups\u2014they\u2019re eager and hungry, and that makes it a really fun place to work.<\/p>\n

See the Realcomm\/IBCon 2018 interviews here: RobTeel<\/a>, Todd Huebsch<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Yardi\u2019s Rob Teel, senior vice president of global solutions, and Todd Huebsch, vice president of commercial sales, discussed key trends in the commercial real estate industry in interviews at the recent Realcomm and IBCon conferences. Excerpts follow. Q: What are some key shifts that you\u2019re seeing in commercial property management? Huebsch: From an enterprise platform […]<\/p>\n","protected":false},"author":610,"featured_media":20371,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_s2mail":"yes","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4,6],"tags":[2228,2026,149,13,2471,40,2470,16],"class_list":["post-20571","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-technology","tag-2228","tag-ibcon","tag-realcomm","tag-rob-teel","tag-todd-huebsch","tag-yardi","tag-yardi-executive-insight","tag-yardi-insight"],"acf":[],"yoast_head":"\nYardi Blog<\/title>\n<meta name=\"description\" content=\"Yardi\u2019s Rob Teel, senior vice president of global solutions, and Todd Huebsch, vice president of commercial sales, discussed key trends in the commercial\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Realcomm Recap\" \/>\n<meta property=\"og:description\" content=\"Yardi\u2019s Rob Teel, senior vice president of global solutions, and Todd Huebsch, vice president of commercial sales, discussed key trends in the commercial\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.yardi.com\/blog\/realcomm-recap\/\" \/>\n<meta property=\"og:site_name\" content=\"Yardi Blog\" \/>\n<meta property=\"article:published_time\" content=\"2018-07-06T13:00:53+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-12-25T09:10:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.yardi.com\/blog\/wp-content\/uploads\/sites\/15\/2018\/06\/realcommwebinar.png\" \/>\n\t<meta property=\"og:image:width\" content=\"439\" \/>\n\t<meta property=\"og:image:height\" content=\"450\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Joel Nelson\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Joel Nelson\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.yardi.com\/blog\/realcomm-recap\/\",\"url\":\"https:\/\/www.yardi.com\/blog\/realcomm-recap\/\",\"name\":\"Realcomm Recap - 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