The leasing revolution: the next big step in the digitisation of real estate

By Leon Ballard, Co-Founder of Least

What do speed, efficiency and clarity have to do with the antiquated commercial leasing process??

‘Not a lot’ you might say. If, like me, you are or have been an agent, you know only too well the complexity of managing the three P’s: paperwork, process and people. And let’s face it, you (almost) always find yourself asking questions you have no answers to and feeling frustrated with transactions that are taking weeks or even months to complete. Today, deals continue to be done in the way ‘it’s always been done’, but at Least, we imagine a world where the industry will look back and ponder, ‘did it really take that long to complete a deal?’.?

As the wider sector continues its digital transformation journey, we naturally believe that leasing is yet to have its day but it will very soon. In the same way, say five years ago, you would be hard pushed to find a landlord that had adopted a workplace experience app or offered amenities that promoted wellbeing. But through education, pilots and a pursuit for a competitive edge, those landlords who saw a future where occupiers could be connected to their workspace; where their office experience could be upgraded by easy access to services and amenities, would prosper in their tenant attraction and retention strategies.?

Fast forward to today and you won’t find a real estate event where workplace experience is not discussed or a landlord that is not considering how technology will be used to enhance the occupier experience. Knowing what they know now and appreciating how fundamental such an app is to making their buildings an attractive destination, would they have started that journey sooner???

It’s not hard to draw parallels with our space. Least is on a mission to bring much needed digitisation to the leasing process and turn an archaic, slow and costly process, into one that is digitally led, fast, reduces void costs and best of all, one that is tech-oriented.?

Inevitably, those landlords who think ahead, remain open to embracing technology and innovate away from dated processes, will reap the rewards with immediacy.