Law firm Goodwin Proctor LLP launches PropTech practice to serve intersection of real estate and technology innovation...

Minta Kay (Chair of Goodwin’s Real Estate Industry group) and Salil Ghandi (partner in Goodwin’s Technology group) of Goodwin Proctor LLP, join Thomas Kutzman and Scott Pollack in the MouthMedia Network studios powered by Sennheiser. Presented by Prevu.

In this episode:

What inspired the PropTech initiative at Goodwin Proctor

The firm's huge global real estate bench, and huge technology bench

How the firm has been getting a lot of calls, inquiries

Woke up with convergence of practices, obvious place to go

Tech – type of company, not an industry sector

Also Fintech, Blockchain, do a lot in that space as well

Real estate has been slow to adopt tech---that’s changing

Need to pay attention, a cascade coming down around them

Real estate becoming a service instead of just a hard asset

The greatest potential for opportunity

From first innovations on prop tech side on consumer listing sites, been seeing it on consumer side for awhile, bigger than a couple of entrepreneurs disrupting

Investors are investing to remain abreast of latest innovations

Keeping informed on opportunities to return investor returns, smarter buildings, manage portfolios

How people are thinking about what a building is and how it is structured, and that it is driving business decisions and entrepreneurial innovation

Why autonomous cars are important for real estate

Why re-purposing of spaces and buildings is huge

Going to raise a lot of new bureaucratic activity, permitting, zoning

Collecting more data than ever before, so sourcing deals to pricing deals, design, maintenance

From one transaction to an ongoing sharing of information

Open-mindedness on real estate and regulatory that will allow innovation to occur

Elasticity in the space is very important

The need to house fleets of vehicles is coming, a shift is needed

How smart contracts can shift advice business

From ballet, chemical engineering and art history -- to law

PropTech is happening now in Asia too