Tech conference addresses changing business tactics.

In recognition of the lightning speed by which technology is transforming the way business is conducted, Insignia/ESG recently hosted its first-ever Real Estate Technology Conference to share its perspective and strategies on current technology and its vision of the future. More than 150 property owners and investors gathered recently at Equitable Center to gain information on rapidly advancing technologies that tenants increasingly are demanding.

In his opening remarks, Insignia/ESG president Ron Uretta described the extent to which technology and the Internet are affecting tenants and building owners. "It has been estimated that e-commerce will account for $1.4 trillion of economic activity by 2003 - up from just $50 billion in 1998." He added that some experts are predicting that in the future, tenants may pay more for tech support and services than they do for rent.

Andrew L. Farkas, Insignia Financial Group's chairman and CEO, unveiled Insignia's strategies for participating in e-commerce in the real estate sector. In marketing commercial properties, either for sale or for lease, technology is a critical differentiating factor, Farkas said. Explaining his company's early commitment to developing e--business models, Farkas said "we decided to be the proponents of change," adding that the Internet and advancing technology had long been one of his keen interests.

Farkas described Insignia's property management e-commerce initiative, Edifice-Rex (www.ediflcerex.com), an Internet web portal incorporating an exclusive suite of services for residents of high-end, multifamily residential buildings. Launched in February for some 60,000 New York area apartment units managed by Insignia, EdificeRex is now being made available to other residential properties. A commercial property portal will be introduced this Spring.

"We were extremely pleased that so many of our clients - both institutional and entrepreneurial owners and investors - found this conference of value," said John Combs, president of Insignia/ESG's U.S. Property Services division. "They were able to gain valuable insight into new high-tech innovations that can enhance the positioning of their properties in today's quickly changing marketplace."

The conference addressed four distinct areas of technology - portals, high-speed Internet access, technology to enhance the marketability of properties and technology to reduce property operating costs or improve services. The forum included representatives from eight high-tech companies offering services that Insignia/ESG felt might interest its clients.

Maureen Beirne, vice president of Market Strategies of Winstar for Buildings, discussed wireless technology; Darren Hornig, executive vice president of OnSite Access, explained his company's Fiber/DSL technology; and Chris Daniels, executive vice president of SiteLine, discussed broadband services.

Mark McLaughlin, vice president and COO of Loopnet, reviewed on-line property listing services, and Scot Kenkel, director of training of Internet Pictures Corporation, discussed virtual tours technology. John Sczygiel, vice president of Security Technologies Group, discussed property-level security technologies, and Judy Johnson, senior vice president of marketing at FieldCentrix, presented the latest in handheld technologies used to increase services to tenants by field personnel.