Conversations and Influence.

We all have them and we all have it. But we all have a problem.

It’s a problem I just discovered. Well, not actually me but it was brought to my attention by someone with knowledge and access that only a few of us could ever imagine.

They have access to commercial real estate data. Discovery and search data. Your discovery and search data.

And they want you to know what is happening which is why they came to me.

You Log In.

On your laptop or desktop, you search for a client.

You look at comps to help define a value.

You input a listing.

You update a price.

You do this in your market. In your own back yard.

What are you actually doing?

Your job you think and you would be right.

But, you are doing something else. You are creating data that helps define the market and that data does what?

It helps trigger action in your market. Confused?

You are telling the owners of your platform exactly what properties are creating the most “traction, conversations, clicks, eyeballs and value.” And they are using that data to create $$$$. $$$$ from the “triggers” you created—-and pay to do.

And you signed an agreement that gives them permission to do it——– or you get sued!

Think deeper.

What else could be done with your data?

Could that data be used by someone else to create a transaction? (Got your attention now !)

How about emails and messages? Emails messages and conversations about actual deals.

How important is that information to you? How much value does it create for someone else?

Who would pay dearly for that data?  Would you if you could get your hands on it? Not ethical?

You have been assured that “your data” is secure and never used sold or mined.

You and I hear it all the time. (37 million people with profiles at Ashley Madison are on pins and needles right now)

What’s a little commercial real estate data worth? Can’t be worth too much can it?

Bigger picture.

What helps move and define the stock market?

Information. Financial information. But is that all?

You and I know it’s so much more than that.

People have gone to jail for using that information. ( That reminds me. I need to search a recipe.) I’m sure that she is the first one you think of right? (The feminist are going to bury me for this one) Is she the only one to ever do it? You know the answer. Out of fairness here is the link to some of the most notorious insider trading scandals and oh how the boys do us proud!

But, that’s not the same thing is it? There is nothing illegal about using your information to “help” create transactions.

Now remember what defines a transaction. Yes, it is and actual deal in the way that a broker defines a transaction but it’s also a way of creating $$$$ from services.

Is there any kind of law against it? The SEC seems to take that kind of thing pretty seriously in the financial markets.

We obviously don’t care or this would be a huge issue in commercial real estate.

I think it will become a big issue and do you know why?

Market Transparency, Data Mining and The Financial Markets.

Let me make this simple.

Market Transparency:  Free open and verified market data.

Data Mining: Creating “tradeable data.”

The Financial Markets: Everything they have done and are doing now we will have to do.

We are going to create our own commercial real estate data/index/ “financial market.”

I think we are actually doing parts of it now without even trying.

And we are doing it by……..

Searching, Discovering, Conversations and Influence. Creating A New Financial Market.

Duke Long

Duke LongDuke Long is a twenty-year veteran of commercial real estate. He is the broker/owner of The Duke Long Agency. He is also known for writing his strong opinions about all things CRE at www.dukelong.com. He has delivered numerous presentations and discussions about online CRE tech, marketing, data, and digital media. Indiana University allowed him to study real estate and the United States Air Force discharged him honorably.