The way people are doing business, even substantial transactions, is changing rapidly.
Jacob Frydman discusses the ways that mobile platforms are impacting how properties are assessed, bought, and sold in New York City.— Investing in NYC requires a special skill for handling markets and analyzing several tendencies. Recently, with the introduction of new technology, many aspects of the niche have changed allowing the real estate complexities to be dealt with in various ways.
The currently immediate availability of data, services, and information, on-hand 24 hours a day through the rampant advancements of smart phones, has created a requirement of instant gratification. The way people are doing business, even substantial transactions, is changing rapidly. StreetEasy was one of the first apps offered that brought the advantages of a multiple listing services to an area that formerly did not have access. With an agent advertising program and other built-in options, this application begins to show how technology can enhance the industry. Offering a newly accessible level of transparency, buyers and sellers now have an on-going trusted connection to all aspects of the process. The market is being transformed by mobile platforms that provide better methods for consumers and agents to move quickly and stay connected. There is also a shift into a more community or team mentality to direct people to the homes and amenities they need, in a fast and structured way. Rather than competing amongst each other, everyone involved is appropriately matched to meet their exact specifications.
Jacob Frydman encourages professional oversight, and values the improvements modern innovations allow. He notes that, another interesting app affecting the city’s real estate market is Compass, a real estate listing app that combines technology with the human touch of their highly skilled professionals. This user driven program seeks to benefit both buyers and sellers as well as the agencies representing them. Verified listings, precise property value information, and market trends are only some of the existing options and centralized to a specific neighborhood or area. The system is designed to give a more holistic perspective of a potential asset purchase. Simplifying the real estate transaction so as to expedite the process for everyone involved is a natural progression of technology available.
Jacob Frydman has more than 30 years of experience in property ventures in New York City. As the Chief Investment Officer of the First Capital Real Estate Trust, he has extensive knowledge of commercial, residential and mixed property. As a recognized leader in his field, he has managed more than $2 billion in investment transactions and has developed over five million square feet of real estate during his career. After retiring, Mr. Frydman is often engaged as a speaker, panelist or specialist on the topic of asset management, development and finance. Native to New York he is passionate about serving the Jewish community and contributes time and resources to many organizations including; the National Committee for Furtherance of Jewish Education (NCFJE), The Rhinebeck Jewish Center and The Bren Foundation.
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