Surprises await companies that have not anticipated change

Some real estate companies are not adapting to change fast enough in anticipation of altered market conditions and seem to be unlikely to adapt unless they experience real pain, according to proptech company Drooms’ CEO Alexandre Grellier.

“I have to say we were pretty lucky that the topic of data rooms has been picked up quickly and has been used so heavily by the industry. But I’ve seen a lot of proptechs that are coming up with great solutions but the sales cycle is very long because the industry doesn’t feel that they have to change,” Grellier said in an interview with Real Asset Insight.

“If you don’t have this massive pressure to change, like you’re really losing money, you will probably not adapt anything, even if there’s a risk that the world’s going down,” he said.

“It needs to really hurt you financially and, as this is now coming, I believe that change will come and it will come faster than some of the people in the market would expect.”

Please click on the video above to watch the full interview or listen to the podcast below.