Dror Poleg, the award-winning author of “Rethinking Real Estate,” will bring Multifamily Executive Conference attendees up to speed on the latest innovations, business models, and funding methods that are transforming the real estate industry. Poleg’s work draws on two decades of hands-on experience in private equity and technology. He regularly briefs and advises multibillion-dollar companies such as UBS, Bank of America, HSBC, Recruit Holdings, BCG, AvalonBay, CBRE, Hines, British Land, Liberty Mutual, Dubai Holding, Cushman & Wakefield, and others.
He will be one of the keynoters at the MFE Conference, Sept. 30 to Oct. 2 at the Fontainebleau Las Vegas.
MFE caught up with Poleg to get his insights on technology, artificial intelligence (AI), and potential multifamily disruptors.
How is evolving technology changing the multifamily landscape?
Poleg: There is a constant flow of new tools that aim to improve marketing and tenant engagement, reduce energy consumption, and streamline different parts of the business. But technology’s biggest impact on multifamily is and will continue to be indirect. Technology enables people to live in new places or to earn more where they are. It is also changing the distribution of income within different professions, eroding the middle class and possibly leading to a concurrent boom and bust. Some cities, like San Francisco and New York, have already experienced something of this kind—businesses are doing well, but the office market is struggling, and the residential market is softening and becoming more costly to build in.
Technology also enables new types of operators (such as home-sharing and co-living) to compete with established companies. It is drawing new types of investors, particularly venture capital, to explore new operating and financing models for apartment buildings and whole neighborhoods. And, more than anything, rapid technological change—like the current boom in AI—injects a lot of uncertainty into the economy, making it harder for employers, investors, and lenders to make long-term plans.
From a structural level, technological progress will make multifamily and other real estate sectors more akin to hospitality: facing customers who have more options to choose from, requiring more services and amenities, and facing shorter-term commitments from tenants. This still leaves plenty of room to profit and grow, but it would require many leading companies to adapt—as some are already doing.
How can companies prepare their employees for AI?
Poleg: Historically, many innovations started from the ground up. Individual people brought their laptops and mobile phones to work before organizations formally allowed it. Accountants, analysts, marketers, and salespeople started using different apps and SaaS products to enhance their work before these tools were formally embraced by their employers. With AI, we’re already seeing a similar dynamic. Forward-thinking employees are tinkering with new tools, taking courses, and putting AI to work—sometimes without telling their bosses. The best organizations should adopt an open-minded approach: Encourage employees to experiment, ensure that whatever works is shared with everyone and implemented across the organization, and invest in education and training programs that provide employees with a basic understanding of the main tools and concepts.
Is work-from-home here to stay, and what impact do you see that having on the multifamily industry?
Poleg: It is here to stay. It has been four years since the first COVID-19 lockdowns, and “normal” times are not coming back. As I mentioned earlier, the impact of remote work means more opportunity and more uncertainty for multifamily. It unlocks whole new parts of cities and countries for development, it presents an opportunity to reimagine the product for new types of uses, and it requires operators to focus on more specific types of customers and their needs—in the same way that hospitality companies have different brands with unique products and services that attract specific people.
What trend are you currently watching that could be a future disruptor for multifamily?
Poleg: These days, politics, geopolitics, and monetary policy trump all other considerations. The world feels on edge, with multiple flash points threatening to spiral out of control. At the same time, both sides of the American political map seem to double down on polarizing policies and radical ideas—tariffs, tax hikes, and anti-trust action. Regardless of the political merits of either side, the possibility of radical change is unhealthy for the economy in the short and medium term. And by “economy,” I am talking about the real economy, not just the stock market.
On the positive side, the YIMBY movement seems to be gaining momentum in more parts of the country. Multiple states, cities, and towns are exploring or already implementing policies that make it easier to build new apartments and repurpose old buildings.
What keeps you up at night when it comes to real estate?
Poleg: The state of the world keeps me up at night. On that front, I am actually excited by the potential of the real estate industry to change things for the better. Our work and choices affect the biggest challenges: More housing enables more economic mobility and opportunity. Denser living is better for the environment. Healthier communities reduce loneliness and crime. Walkable towns and cities reduce obesity and make it easier to fund public parks, schools, and other amenities. Frankly, simply doing business keeps all of us focused on win-win collaboration rather than war and politics.
