Leaders from 3 top platforms discussed the future of the industry.
On Wednesday, August 5, we were thrilled to have a packed house at the Real Estate Crowdfunding Education & Networking meetup event in Chicago’s West Loop. PeerRealty was proud to co-organize the event along with fellow real estate crowdfunding platforms Patch of Land and American Homeowner Preservation (AHP). A special thanks to all the attendees and our co-organizers, along with Chicago REIA for sponsoring the event and WeWork for hosting it.
Along with some great networking, there was also a panel featuring top executives from all three platforms. PeerRealty, Patch of Land Co-Founder and CTO Brian Fritton, and AHP CEO Jorge Newbery all discussed the current state of real estate crowdfunding and how they see the industry evolving in the future. Here are five key takeaways from this discussion of real estate crowdfunding industry leaders:
- Technology is changing real estate, and the crowdfunding industry is at the forefront of this change. The panelists explained that their crowdfunding platforms are taking full advantage of the efficiencies offered by technology and by big data. Patch of Land’s Brian Fritton noted that his platform utilizes over 4,000 data points in making loan underwriting decisions. Despite all this data, the underwriting process is actually much quicker and more efficient than a traditional underwriting process. PeerRealty added that the nature of crowdfunding also adds efficiencies, saying that “
e can now take those data points and get immediate feedback from investors on whether this [deal] is a deal that that the market will support.”
Thanks again to everyone who attended the event, as well as to Patch of Land and AHP for co-hosting with us! Miss the event? Fear not, you can watch the panel discussion below.