I think most real estate software WAS garbage. There are thousands of new proptech/AI for CRE companies (majority I would imagine you haven’t heard of or tested). Companies like capitalize, hellodata, Broome, gathergov, apers, siftt, prophetic, juniper square, agora, venn, leni, Henry AI, Wayline are just the ones off the top of my head that are not garbage… countless more. The rate of advancement with AI has completely changed the proptech landscape. It’s the perfect industry for adoption, and there are thousands of tools currently getting built to solve different verticals in the space. I always say the software eventually catches up to you, and I think that’s especially true today with AI in real estate.
I will say there is massive arbitrage between using specific tools and actually implementing this stuff. However that requires either 1) technical expertise or 2) capital to pay for that technical expertise. Id personally be really hesitant and thoughtful about allocating tons of capital and resources to building solutions in house because there will most certainly be a tool that solves whatever it is you’re trying to solve for. Real estate is not that complicated especially value add apartments. You made a comparison about an apartment building in Dallas to a high rise in New York which is apples to oranges. But your apartment building in Dallas is only slightly different than my apartment building in Vegas. And there is a MASSIVE opportunity which I assure you hundreds of companies are currently trying to solve with software (and my guess is they will very soon with how quickly AI is advancing)