"We use online tools such as Lotus Notes, groupware, and basic email and have been for 10 years," Rudes says. "Through the program I've written for our purposes, we've created transaction management from start to finish. Proposals are sent via email and we even have some clients who won't read materials unless they're sent electronically."
He explains that while everyone has to get online in the industry, this doesn't necessarily include the use of companies such as Netstuxr/SpaceDIRECT, Vectiv Corp./SRES, Zethus Inc. or any of the other online transaction providers. He says instead, companies such as his are looking for creative technology uses to manage their own transactions.
"We're working with someone on the use of Hand Spring Visors and Palm Pilots to access information literally in the palm of one's hand," he adds. "This will aid in management of deals from the field, out on the road. People can use it to look back, trace the steps and see why they did what along the way."
As for the exchanges he says, "The real estate industry is slow to adopt shared situations. New York City was very slow to adopt a commercial MLS. There were a lot of problems bringing listing services online here and getting into New York practices. Brokers are very secretive and don't want to share their information.
"In creating an open marketplace," he explains, "there'd be a real problem in getting people to accept the concept. One would have a real problem getting real estate professionals to think of the market like the New York Stock Exchange."
What he does see as a trend for the future is the increasing development of electronic infrastructure within individual companies. "All brokerages are going to use some sort of extranet in the future," he says. "The next trend will be developing intelligent buildings to accommodate the evolving needs of today's tenant groups. Traditional real estate firms will have new high-tech needs."
He concludes, "I've always said once bandwidth was no longer a differentiating factor in office buildings we'd find it was only the tip of the iceberg."
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