Law firm Goodwin Procter 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 Gandhi (partner in Goodwin’s Technology group) of Goodwin Procter 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 Procter
• 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

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