WoI Speaker: How Colliers Uses Tech in Property Management

➤➤ Join the GlobeSt.com Women of Influence 2019 conference July 10^th and 11^th in Broomfield, CO, which celebrates the women who drive the commercial real estate industry forward. The event will address the critical role of women in the CRE business. Click here to register and view the agenda.

Washington, DC—As GlobeSt’s Women of Influence conference launches this week, we have caught up with another speaker—Karen Whitt, president of Colliers International’s US Real Estate Management Services platform. As part of her role, Whitt oversees property management assignments nationwide and leads business development activities.

“One of the most interesting things about this job is finding ways to improve the ways real estate works for our clients. Often we are able to identify problems that owners didn’t realize they have. This is very gratifying and helps build strong relationships that last a long time,” Whitt tells GlobeSt.com.

Whitt also spends a considerable amount of time mentoring real estate professionals.

“At work, developing confident, effective employees helps our business succeed,” explains Whitt. “I’m involved with a few groups that champion women in real estate, including a monthly meeting of leaders that support one another and offer counsel, as well as CREW Network where I’m on the Board of Directors. I’ve been lucky to receive a lot of support and guidance throughout the course of my career and I enjoy making sure others receive the same opportunities.”

Colliers has been focusing a lot on how technology can breathe new life into the industry, she also notes. Mobile devices offer a lot of opportunities to engage with tenants and build communities in assets that have often been more isolated, or provide more value to owners and tenants. The company is using smart phone apps to communicate directly with tenants and are partnering with another firm that uses videos recorded on those same devices to help retailers hire new employees. Another important tech-related mission: the company is also focusing on securing buildings and their assets from cyber threats.

“One of the most interesting developments that we have been focusing on is augmented reality (AR) – the concept of adding virtual technology to real-world experiences,” Whitt says. “While AR is similar to virtual reality (VR), AR uses technology to supplement a real-world experience, whereas the VR experience is completely digital and doesn’t use any of the real world to create what users see.”

Colliers has now partnered with The Layer Group for AR rights management to prevent buildings from having content displayed without owner permission, as well as to help turn AR into a revenue generator. As more and more devices capable of AR experiences proliferate, this field is expected to grow by leads and bounds.

As Whitt has ascended the proverbial corporate ladder, she has encountered an obstacle or two along the way.

“At one point, I approached my supervisor and asked for a raise. I had learned that I was managing more properties than a male counterpart, but was getting paid 20% less. The response I received was disheartening—he was earning more because he had a family to support, which is why my pay would not be adjusted. I had a family too, but that wasn’t considered when my pay was decided. I found a copy of the applicable District of Columbia human rights law, printed it out, and left it on my manager’s desk with a sticky note about the situation. The next day, I received a raise,” recalls Whitt.

Whitt has garnered the support and guidance of experienced CRE professionals throughout her career. Two mentors, in particular, have helped shepherd her the entire time she has worked in the industry and she remains grateful for their help.

“The most meaningful thing I can do to thank them is to do the same for other professionals. After all, this is a people-centric business and we can make the most impact by supporting each other, especially our fellow women,” concludes Whitt.