This week is one for the commercial agents out there, with an interview with Scott Wilson from Forbury. Now Forbury is a commercial property valuation platform that allows commercial agents to confidently capture, calculate, and support the logic behind complicated commercial property valuations. Now, Scott’s a mathematician with an honours degree in operations research, who has worked as an investment analyst and business consultant before joining Forbury as a co-founder about seven years ago.
Forbury is based in New Zealand but regards itself as an Australian PropTech because all of its clients are all Australian big six real estate agencies and property owners. Property valuations are the life source of the commercial property industry, but valuation logic is a closely guarded secret, a bit of a black box with every real estate agent having their own secret source.
02:21 – Forbury Elevator Pitch
06:37 – How do we get a universal view of what commercial property is like, in Australia or in any country, if everyone’s valuing it according to different criteria?
09:16 – How big of a problem is or issue is valuation in commercial property?
12:16 – If everyone had Forbury, how would that influence the landscape of commercial real estate?
16:43 – How big is Forbury and what’s your background?
22:56 – How hard is that for PropTech startups to get cut through in Australia, and what’s the secret to your success?
28:36 – What is the competitive landscape like?
31:22 – What does the next five years hold for commercial real estate?
38:58 – What does the future hold for Forbury?