Commercial real estate, for some reason, seems to be decades behind when it comes to technology and new innovations. Obviously, it is a much smaller division of real estate from residential, but it shouldn't be this far behind in 2019.
Being in BETA has allowed us to discover the pain points that multifamily agents and owners share by constantly talking with our users. Everyone seems to feel trapped by having to spend hundreds of dollars a month to access information for commercial real estate. Everyone these days is used to accessing information instantly for free. For some reason, that isn't the case in commercial real estate and one must pay to access basic information or spend time piecing together public information. Owners aren't willing to pay the big bucks to access this information which ultimately creates a huge disconnect between agents and their clients. The system is broken.
Commercial RE has been led by a few big companies that have essentially given people in the industry no other option but to pay the price they want for the information. Agents and owners don't feel like they have many options if they want to look up a few things about a specific building. People in the industry are frustrated and ready for a change. Accessing basic information shouldn't be placed behind a huge paywall and PadMint is here to change that.