The definition of ground truth is the reason we created Propertys. We are part of the emerging proptech infusion of technology into CRE. Simply, we are a collection of data and technology experts with a mission to seek and clearly articulate ground truth for our clients to inform better decisions for commercial real estate.
As we explored paths for Propertys, and whether there was room in the commercial real estate world for a new data & insights company, I thought about my years of experience building financial models (Net Present Value – NPV, Internal Rate of Return – IRR, and Discounted Cash Flow – DCF). I recalled more than a decade ago sitting for hours pouring over a formula in Excel asking myself:
What support do I need to understand the accuracy of my formula?
Did the formula represent the truths sought after by our Executives?
Will this formula capture the inference of human behavior to ‘best’ enable a sense of what would happen in the future?
Would our executives truly be able to make a data-driven business decision?
All of this, so a commercial real estate decision could be approved and a retail store built somewhere else in the US. Our team and our executives worked for months to finalize a decision of proposed investments in commercial real estate, yet I still wondered: were we really looking at the data we needed to be?
I know today similar meetings, with similar (if not the same) data and assumptions happen every day in the US and abroad. The genesis for Propertys is founded in the thought “what if we had better data?” And we do. We no longer have to use the classic CMA, or comparative market analysis, that was based on a 10 year old census report. We can now see the ‘ground truth’ of the property and people in the vicinity of the property being assessed. Furthermore, we can observe these ‘ground truths’ and combine this data with the best of breed 3rd party data to bring the story to life through demographics, psychographics, and more.
COVID-19 has forever changed how our world will interact with one another:video calls, work from home, and masks are now part of everyday life. Layoffs, downsizing, unemployment benefits are unfortunately also part of the new business world. These encumbrances will impact how commercial real estate decisions are prioritized going forward. I wonder how many analysts have already begun the search for more timely accurate data to inform assumptions for commercial real estate models going forward, post COVID – 19.
Propertys offers ground truth of data and insights from timely observed human behavior in a privacy compliant, ethical use format. We have made decisions to enable Propertys to become the trusted partner of CRE professionals. Our solution brings you accurate & timely data empowering you to make informed decisions at the speed of business.
To learn more, connect with us today: https://propertys.com/contact-us/