Dhandapani: “Technology is everywhere. But frankly, its successful application in the creation of client value is not.” Dhandapani: “Technology is everywhere. But frankly, its successful application in the creation of client value is not.”

NEW YORK CITY—What is technology’s role in commercial real estate? The question is on the mind of even the most seasoned industry professional, but as the race to identify and apply the latest technologies increases, it’s resembling a set of solutions in search of a problem. Unless the technology is accretive to the bottom line and to specific business outcomes, it’s not particularly useful to the commercial real estate professional.

That is the position that CBRE is taking as it launches an initiative to bring technology and client outcomes closer together, both for its global base of clients and for its internal staff. Dubbed CBRE Vantage, the name given to CBRE’s Suite of Enablement Technologies, the initiative is being spearheaded by Chandra Dhandapani, the company’s recently appointed chief digital and technology officer. GlobeSt.com recently sat down with Dhandapani to discuss the philosophy behind and the mission of CBRE Vantage within the larger context of commercial real estate technology.

GlobeSt.com: We’ve heard so much recently about technological disruption to the traditional ways of doing business. From your vantage point – pardon the pun – what are you seeing?

Chandra Dhandapani: There is a lot of conversation across the industry about disruption and disintermediation. Our belief is that technology has a huge role to play in this industry and can be a value driver for our professionals and for our clients when applied the right way. I see nothing but optimism in terms of technology being adopted in this industry. I also see technology impacting multiple aspects of commercial real estate, from the basics of business automation to machine learning and virtual or augmented reality.  It’s truly amazing to consider how technology in all of its forms can impact our business.

GlobeSt.com: It’s been said that the commercial real estate community is tech-averse. Do you agree?

Dhandapani: I see highly tech-savvy professionals and clients in this industry. When I speak with our professionals and clients, they express to me how they are constantly searching for and leveraging technology solutions to achieve specific outcomes.

GlobeSt.com: And, of course, that’s exactly why you and I are talking …  technology as a means not an end.

Dhandapani: Technology is everywhere. But frankly, its successful application in the creation of client value is not. Whatever form it takes, it’s only as effective as the quality of the data that fuels it and the organization that leverages it.

I have never seen data or technology as a commodity when used in the right way, which is to solve specific business issues and leverage specific opportunities. That is what is going to separate the winners in this industry.

GlobeSt.com: Commodity or not, everyone has a tech mission or at least a marketing campaign. What does CBRE know that others are missing?

Dhandapani: For the past several years, we have been consistently investing in technology, whether proprietary systems developed in-house, gained through acquisition or through partnering with key technology suppliers. We began with basic capabilities and infrastructure and expanded that to a focus on technologies that enable specific client outcomes. Given our global presence, we have both the depth and breadth to continue to enhance this ever-expanding technology infrastructure as it evolves into a rich canvas of capabilities that encompass the entire commercial real estate landscape.

GlobeSt.com: So the belief is that this is a market differentiator.

Dhandapani: Everything we do works back from client needs rather than just offering technology for technology’s sake. But time will tell if we are just like everybody else or if, true to our promise, we have in CBRE Vantage created a suite of enablement technologies to drive superior outcomes for our clients.

GlobeSt.com: Where do you see the initiative being a year from now?  

Dhandapani: It’s hard to read the tea leaves, but my sense is that we will see increased examples of technology enabling success in this industry as users become more sophisticated about leveraging data and platforms. For us as a company, I see the development of some compelling proprietary technologies for our clients and professionals in the next 12 months. We are starting the year well-poised to do this.