Franco Faraudo | 12/12/2018 | PropTech
No one likes to be the only one talking in a room. Okay, I should rephrase that, only sociopaths like to be the only one talking in a room. That is why we have always encourage everyone we possibly can to write more about the innovations that are happening in the property industry. We were honored to be mentioned in an article that came out yesterday called The Missing Ingredient in Building Valuations. It continued a conversation that we had at our New York Real Estate Tech Week event, Technology and Collaboration in the Built Environment. The panel was titled “Your Building is Talking, Are You Listening?” but like any good conversation, it got a little side-tracked. We started talking about if the “smarts” of a building affects its value since so much of the valuation calculation of a building revolves around income vs expense and not building hardware.
The article points out a part of the building’s value offering that we were failing to take into consideration. It is not the smart technology itself that should factor into the equation, the article argues, but the outcome of what the combined power of the system can do:
“Smart building valuation needs to go beyond the usual checkboxes: location, leases, and the tile in the lobby. It must consider a building’s health, i.e. its ability efficiently to provide a comfortable, safe, and productive environment day in and day out.
Health can only be accurately determined by looking at broad sets of smart building data. We must examine maintenance and operational records for upkeep and performance information, IoT and sensor data that fill in gaps left by meters and smart building systems, and, most importantly, human-generated information like complaints, comments, and work order requests that provide the granular user feedback on whether the smart building is performing well or poorly.”
Read the entire article here: https://propmodo.com/should-a-buildings-ability-to-create-a-healthy-environment-be-a-bigger-part-of-its-valuation/
The original IoTforAll article originally posted here: https://site1001.com/2018/11/12/the-missing-ingredient-of-building-valuations/