158 - Revolutionizing Commercial Real Estate with Demand-Side Insights with Michael Broder of RCKRBX

The DMV (Washington, DC | Maryland | Virginia) Business Show

Excited to introduce Michael Broder, President & CEO of RCKRBX located in the Washington, DC metropolitan area. They are a SaaS data platform specializing in demand-side insights for the commercial real estate sector, specifically targeting multifamily assets and portfolios. Their platform provides developers and investors with a deep understanding of what renters want and expect in their next living space, empowering them to optimize their properties to meet those demands. Unlike traditional real estate research, which often relies on limited data and assumptions, they approach is grounded in scientific methods and disciplines. As a former political operative, Michael and his co-founder brought the same level of granularity and predictive power used in political research to commercial real estate research. The company leverages a range of recruitment methodologies, including phone banking, social media engagement, and panel partners, to collect data through in-house research studies. Their first product helps users stress-test underwriting assumptions and prioritize programming and amenities during the acquisition and development stages. By providing insights on factors important to renters, such as unit size and finishes, developers and investors can ensure that their properties meet the demands and expectations of renters, ultimately outperforming the competition. The pandemic has brought about significant shifts in demand for commercial real estate property, with many consumers seeking larger spaces to work from home. However, the current supply of properties is not aligning with these changing demands, leading to a lack of alignment between supply and demand. This mismatch may result in renters settling for properties that do not meet their needs, resulting in rental concessions and price pressures. The speaker emphasized the significance of demand-side data in commercial real estate development. By focusing on building similar properties to existing ones in the market, developers risk commoditizing their developments, stifling innovation, and limiting their ability to meet the evolving needs of renters. By incorporating demand-side data, developers can build properties that truly meet the demands and expectations of tenants, ultimately creating successful and sustainable developments.

This episode is sponsored by: ⁠⁠⁠⁠⁠⁠⁠⁠SEVI⁠⁠⁠⁠⁠⁠⁠⁠ - The first commercial real estate company committed to the four C’s: Commercial Real Estate, Community, Content, and Culture

⁠⁠⁠⁠https://seviproperties.com/⁠⁠⁠⁠

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