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"The Future is Now - A Report From Around the Globe!"

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Jim Young Photo
4/2/04 Interview with Jim Young

3951 Park Drive
Carlsbad, CA 92008

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Global Real Estate Technology

  1. Asia is a leader in best practices; Realcomm speakers have referred to Asian projects as good examples for years.
  2. Young's recent Asian trip covered 38 different projects in five countries and seven cities; the advances in technology were very different from what is being used in the US.
  3. Asian adoption of technology for life in general and commercial real estate in particular is probably 5­7 years ahead; in Korea, broadband adoption is 80%.
  4. The best Asian buildings are using technology in ways not seen in the US; the size, scale and vision of Asian projects create entire cities at once.
  5. These projects‹including stadiums, hospitals, office and apartment buildings and houses ‹are built from scratch with a 21st-century digitalvision; their broadband supports systems that blend the best of Hollywood and Silicon Valley; they could become the new media center of the world.
Reasons for the US Lag

  1. The youth orientation of the Asian cultures gives them more openness and willingness to employ technology; responsibility for managing these major projects is being given to young people (mid-20s).
  2. The US is handicapped by its infrastructure and legacy systems; the newly developing Asian countries are going directly to a wireless infrastructure;Asian governments (China, Singapore, Korea) committed to competing internationally are driving much of the 21st-century vision.
  3. The US is being held back by its lack of awareness of how far behind it has fallen and by the unwillingness and unpreparedness of government, corporate and commercial real estate leaders to change.
  4. US leaders need vision of what is going on and what could be; an accelerated way to gain that is to visit Asian countries.
Intelligent Building Defined

  1. "Intelligent buildings" is subject to four definitions; Realcomm aims to bring these perspectives together to develop a comprehensive definition.
  2. One definition is a building where the tenant has an enhanced experience through digital signage, broadband and wireless; another view focuses on the building automation side, which will be dramatically redefined by new players such as Cisco and GE in the next few years.
  3. A third definition assumes a paperless commercial real estate experience among owner, operator, tenant and service provider; a fourth defines intelligent building in architectural terms of how space is physically designed.
  4. The Realcomm conference is an incredible educational experience, especially for commercial real estate professionals.
The Potential for Efficiency with Technology

  1. Around the year 2000, six fundamental and independent technologies aligned for the first time to become even more powerful: inexpensivepowerful computers, broadband, wireless, the Internet, Internet appliances and integrated information systems.
  2. Working together, they create an integrated, real-time world that reduces the need for people and paper to accomplish commercial property-related tasks; the result is a new way to operate a building or commercial company.
  3. Some tech-savvy commercial brokerages have improved the ratio of brokerage professiaonals to assistants from 2/1 to 30/1.
  4. An important focus at Realcomm this year will be the obsolescence of traditional job functions; the conference will address the jobs being impacted, the technologies that will replace them and the new job descriptions.
Loss of Jobs

  1. Fiber optic links to cheap workforces in Asia are predictably shaking upthe economy; that effect has only begun to be seen because instant email and phone connections are now being augmented by video conferencing.
  2. Furthermore, the US is in a paradigm shift as significant as when farming turned over to factories; the new technologies and integrated systems are making low-level information management jobs obsolete.
  3. People need to be prepared for inevitable progress; education of youth and reeducation of the displaced workers are important.
Exciting Technology Developments

  1. The concept of singular portable gadgets is being replaced by convergence; all the functionality of individual devices is being pulled into multifunctional business tools; even video teleconferencing by cellphone is close to reality in Asia.
  2. Tablet computers, introduced at Realcomm in 1999, have expanded from incredible business applications to home use.
  3. Mobility is an important technology theme, especially for real estate professionals of all specialties; you need to be prepared to do business anywhere in this 24/7 world.
Using the Web Effectively

  1. The organizational systems now available online are the most exciting web development ‹e.g., company intranets and integrated systems of property data and contact data.
  2. Digital aerial photography sites such as AirPhotoUSA and Keyhole allow you to plug in an address and see the aerial view in seconds; next steps will include clicking on the roof to see property records and 3-dimensional images of space available, plus online leasing processes.
  3. Entertainment has advanced to deliver movies via streaming video ‹ or (also offers music videos and karaoke).
Capsulized Advice

  1. You need to use automation and technology strategically to rethink your business purpose and to rebuild your organization; business leaders have perhaps a 36-month window to get their businesses competitive for the 21stcentury.
  2. By 2007, Realcomm will be presented in its own mixed-use intelligent building that will represent the best practices worldwide and define what a next-generation commercial real estate project is.
  3. Realcomm partners will include both real estate and technology leaders; the intention is to develop multiple projects of this type.RealComm (San Francisco, June 3­4) offers a special discount for Society members at 1. Go to the registration area. 2. Click "Partner Affiliate." 3. Select RECS from the Association Affiliates dropdown.
Contact Information for Jim Young:

(v) 760.729.4312
(f) 760.729.0796

Real Estate Sites & Tools in this Briefing:

Advanced aerial photos: