Launching the next wave of innovation in commercial real estate (CRE).

While commercial real estate assets are one of the largest global asset groups, the CRE industry has been slow to innovate its core business processes. Today, commercial brokers struggle with challenges such as disparate and antiquated technology, data sharing, inefficient cash flow management and real-time performance data, to name a few.

AgentMile aims to transform this $3385 trillion industry by introducing the first decentralized CRE leasing platform powered by artificial intelligence (AI). We have identified a combination of robust software features underpinned by blockchain technology as being the most efficient solution to the challenges faced by the industry:

• smart and efficient property search via a blockchain multiple listing service (MLS);
• digital identities of people and properties on the blockchain to facilitate due diligence checks;
• Smart Contracts to simplify property/cash flow management and reduce transaction dependency;
• industry benchmarks and data open for all, yet incorruptible and not subject to commoditization;
• AI for better decision-making;
• immutable reviews, ratings and much more.

Now is “the most exciting and interesting time to be involved in commercial real estate”, according to the CBRE Global Real Estate Market Outlook 20172.  All key CRE sectors “are in the process of reinventing themselves to accommodate technology-driven changes in business operations”.

Deploying blockchain for real estate transactions and land/title registries is also gaining increased support from governments, particularly in North America, Europe, Dubai and Japan. All these positive signs indicate that the commercial real estate world is ready to embrace a faster, better and more affordable way of doing business.