scott huish activities: CEO

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entrepreneur, finance, operator

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scott huish

5 months ago

Scott Huish and PropTech

https://scotthuish.global/proptech/scott-huish-and-proptech/

 

I've been asked why the meaning of 'Huish' and 'PropTech' and thought this might be fun to share a bit of each.

The name Huish is synonymous with housing. Huish derives from the Old English word meaning “household”. And in Danish, Huish means a ‘house’ or ‘village’ or ‘community’.

The name PropTech comes from merging the words of Property or Real Estate, with the word Technology. PropTech is new innovations and technology within the real estate industry.

Scott Huish

Scott Huish believes that housing is the foundation for prosperity and that building homes is about building people. With this belief, Scott Huish has pursued a technology and innovation focus on real estate and Sustainable Development Goals. Previously, Scott Huish has directed technology driven companies in finance, agriculture, energy, construction, and real estate. Scott has completed advanced education at Oxford, Harvard, and London School of Economics and Political Science.

PropTech

Real estate is a very large asset type. Global residential real estate is valued around $250 Trillion. Global commercial real estate is valued around $65 Trillion. For comparison, global annual GDP is $78.3 Trillion.

The world of real estate is changing. And it will have an impact on all of us whether we work in the industry or not. This physical space is merging with digital technology in what is being referred to as PropTech, or Property Technology.

Real estate is one of the last to adopt technological change and the innovation that tech can bring. The entrepreneurial opportunities are driven not only by the size of the industry and its lack of tech adoption, but also by industry practices plagued by inefficient processes and unnecessary transactional costs defended by self-interested professionals and institutions.

Real estate is not known as an industry which readily embraces change. The nature of the asset class, which comprises large heterogeneous assets traded in a largely private market, is perhaps a good reason for this. Homes may be too important a part of a private portfolio to take any risks with the process whereby it is traded, held or valued. It may also be the case that there is an agency problem: the professional advisors that dominate the transaction process clearly have an interest in protecting their income sources and not be disrupted. (1)

We are witnessing a wave of innovation, investment and entrepreneurial activity in real estate. Welcome to PropTech and the Future of Real Estate — where technology and real property come together.

Some of the sectors or opportunities that can be classified underneath the PropTech umbrella include:

1. Financial services and transactions tied to real estate to include mortgages, insurance, title and escrow and other purchasing mechanisms.

2. Smart building technology to include smart meters, thermostats, lights, and voice command.

3. Smart city sustainability to include improving traffic patterns, green spaces, and walkable urban environments.

4. Crowdfunding for investment to traditional agency challenges.

5. Construction Technology to improve the process of building to include modular or off-site manufacturing.

6. 3D and Virtual Reality to visualize beyond walls or the ground or to even see what could be prior to undertaking a project.

7. Data and Research Analytics such as Zillow to provide instant information on homes and neighborhoods.

8. Short term rentals such as airBnB

9. Shared economy services such as co-working spaces.

10. And changes in the way single-use space becomes multi-use space.

PropTech refers to the utilization of technology as a solution to challenges in the real estate sector. Specifically, technology is used to create or renovate services offered in real estate to buy, sell, rent, develop, market and manage property in a more efficient and effective way. For most of us, PropTech will change how we find a home, purchase, finance, maintain, secure, and insure it.

The future of real estate will be quite engaging and interesting. And for most of us it will improve the way we live, the way we work, and the way we play. Cities are becoming more important as more and more people are voting with their feet and moving to the cities. And this urban fabric creates what most of us refer to as ‘home’ or ‘work’ or ‘community’.

Just as we have witnessed laptops and cell phones change the way we communicate, this wave technology applied towards real estate will change the way we live, work, and play. PropTech will change our built environment and how we utilize this space.

By Scott Huish

ScottHuish.global

Scott Huish has directed technology driven companies in finance, agriculture, energy, construction, and real estate. Scott has completed advanced education at Oxford, Harvard, and London School of Economics and Political Science.

References:

1. Oxford, Said Business School, PropTech 3.0 at www.sbs.oxford.edu


scott huish

5 months ago

the transition of construction to manufacturing

Article about the transition of construction to manufacturing

The construction industry is one of the last to be digitized. In fact, it is second only to agriculture. As a result, it lags behind many other industries when it comes to efficiency, productivity, and sustainability.

One way to resolve this lag is for construction to embrace new best practices and technology that have already been successfully adopted in other industries. It is only by doing this, that the industry can rise to the challenge of delivering the 13,000 buildings required per day, every day, till 2050 to house the world’s population.

One of the best industries for the future conversion of construction is the manufacturing sector. This shows promise of nearly doubling the efficiency as digitization and technology are applied to traditional construction methods as it converts towards a manufacturing method.  Here are some of the ways it will be improved:

Waste reduction

One third of the world’s solid waste is generated by the construction industry. Much of this is caused by inefficiencies in workflows, communication gaps and outdated systems and processes. Think of a piece of drywall making it to the construction site only to have a portion of it cut to the needed portion with the balance disgarded. A manufacturing approach will significantly reduce or nearly eliminate this waste.

Speed

Where once buildings took months to years to complete, new manufacturing techniques make this possible within weeks or even days. This provides significant benefits to the financing as well as the reduced disruption to the neighborhood.

Safety and quality

More automation and less on-site construction means fewer safety incidents. Additionally, quality checks in the factory will help discover issues early. The later a problem is discovered, the more it will cost to fix it. If a problem is found in the design phase of a building that costs $1 to fix, that same problem discovered in the construction phase will cost $20. If the building reaches its operational phase before the problem is discovered, it is estimated to cost $60. 

New materials

Construction is yet to benefit from complete disruptions in material as it has used the same materials for centuries. In the future, additive techniques will allow us to use smart materials; to have a wall function as a battery storing energy from a roof fitted with solar cells, our floors to incorporate radiant heating and cooling for year round comfort, and our rooms to be multi-use for greater space utilization. Our natural environment is often the best ecosystem to find inspiration of new materials.

There are many new technologies being developed and being deployed at this time. And the collective ecosystem is gaining traction to soon reach a tipping point of conversion from old to new. The first major shift will be the conversion of construction to manufacturing.

By Scott Huish

Scott Huish has directed technology driven companies in finance, agriculture, energy, construction, and real estate. Scott has completed advanced education at Oxford, Harvard, and London School of Economics and Political Science.


scott huish

6 months ago

Work From ...Anywhere

Article about Work From ...Anywhere

As many routines have been disrupted and schools and offices have been replaced by studying and working from home, people are debating what will be the new ‘normal’. Many companies, particularly in the tech space, have announced that this flexibility will be standard practice for the coming years. This has led many to realize that they can now work from….anywhere.

The notion of working from home does not communicate the newfound freedom that comes with these new policies. It’s not about further imprisoning us in our homes – it’s about empowering us to think and work exactly where we are personally most productive.

The point of flexibility here is to untether our schedules and the stress associated with them and allow our work to happen where we want it to. That might be be a café, a beach, a friend’s house, a hotel, a foreign country…the point is flexibility.

Most will choose to work from home, and many of us will habitually return to the same working environment each day even if it isn’t our home. And that is best for many people and absolutely fine. Having flexibility does not mean that you have to constantly change up everything and turn your life upside down – but it means we can changes things when we want and need to.

For many people, the ‘anywhere’ will lead back to the office with a in-person responsibilities, a social life of meeting and collaborating with colleagues, and having in-person meetings. So in this case, the ‘anywhere’ can refer to the home or the office.

Flexibility means adapting our schedules and our locations for the kinds of knowledge work we are trying to do. Some days are all meetings as we try to coordinate a number of projects. Some days we need to shut out the world and just dive down into writing our novels, or developing a new algorithm, or putting together that big presentation for the all-hands meeting next week. Some days we need a mix of both. Some days we need the comfort of home, while other days we need the comfort of colleagues.

In short, ‘Work from anywhere’ encapsulates that freedom and dynamism our schedules deserve. And the added flexibility to do today what we have been postponing into the future.

The shared economy is a wonderful thing and is becoming more and more available globally for individual and corporate services as needed. This can cover temporary office needs, housing needs, travel planning, video conferencing, internet, quiet locations, collaborating with colleagues, and global and seamless banking and other services.   

Work from anywhere may not save a company money as office space may be replaced with additional expensed internet, food, office equipment and individualized IT. But this new flexibility is not about saving money, nor long-term social distancing. In the end, it is an investment in profitability, productivity, and ultimately, employee well-being.

By Scott Huish

Scott Huish has directed technology driven companies in finance, agriculture, energy, construction, and real estate. Scott has completed advanced education at Oxford, Harvard, and London School of Economics and Political Science.

http://scotthuish.global

References:

https://techcrunch.com/2020/05/18/work-from-home-is-dead-long-live-work-from-anywhere/


scott huish

6 months ago

Housing solutions for today

Article about Housing solutions for today

Housing Solutions for Today

At a time when macroeconomic, medical, and political forces are aggravating the challenges of affordable housing in the US, a set of solutions, including modular construction, micro-housing, digitally enabled home-sharing, and new financial tools for renters, are helping reduce housing costs and expand housing access.

Worsening problem

According to Harvard’s Joint Centre for Housing Studies, approximately one-third of US households are cost-burdened by housing, and more than a quarter of US renters spend more than half their income on housing. Current trend lines suggest the problem is getting worse.

Depending on your perspective, you can ascribe the challenges in the housing market to general economic conditions, to local regulations, or to federal policy. The market for new housing is shaped in large part by the costs of construction, especially wages. During a booming economy, construction wages increase sharply.

Local regulations can severely aggravate (or ameliorate) the challenge. For example, San Francisco has some of the most restrictive zoning policies in the country, which has led to a crisis of affordability. To afford to buy the median home in San Francisco, a family has to be making $198,000 per year.

Lessons from history

Across time and geographies, technology has served as a counter-weight, consistently driving down housing costs, improving quality and expanding access.

Today, new solutions promise similar benefits for homeowners and renters, especially modular construction, micro-housing, and home-sharing platforms. New financial tools are also helping more individuals access quality rental homes and build financial stability.

As has been recently reported, in high-end markets, building a unit of low-income housing can cost as much as $750,000.00. One alternative is modular housing, where standardised panels, rooms or apartments are built offsite. Modular housing can reduce the costs of quality control and inspection, avoid weather-related slowdowns and provide certainty for developers concerned about the timing of project completion. And more and more people are realizing the benefits and freedom that come having a lightweight lifestyle. This often comes with smaller or even micro housing solutions.

Relevance of the sharing economy

New construction is one part of the puzzle but there is a vast untapped resource: spare rooms in existing homes. Homeowners have been letting rooms for rent since there were homes but historically the transaction costs to rent out a room were high: advertising, screening and collecting rent.

The rise of the sharing economy has reduced those costs and helping homeowners split up their homes into multiple units or rent out spare bedrooms – of which there are at least 50 million in the US. In the process, they are creating new low-cost rental inventory, often of higher quality and in better locations than the alternatives.

Modular construction, right-sized or micro housing, home-sharing platforms, and rental tools are only three examples of the technologies that are helping to lower costs, improve quality and expand access to housing in the US.

Even as labour markets continue to tighten and federal support for low-income housing grows scarcer, cities and towns around the US can encourage these solutions and others like them to start making housing more affordable today.

By Scott Huish

Scott Huish has directed technology driven companies in finance, agriculture, energy, construction, and real estate. Scott has completed advanced education at Oxford, Harvard, and London School of Economics and Political Science.

References:

https://www.smartcitiesworld.net/opinions/opinions/the-technology-that-is-making-housing-more-affordable

 


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Kennedy Martin

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