From tours to maintenance inspections and AI-driven communication, multifamily leads in tech adoption
Commercial real estate is transforming. To keep pace, the processes and tools that real estate sales and leasing professionals rely on must change too.
Old ways of doing business are giving way to innovations like big data, artificial intelligence, virtual reality and smart mobility that usher in new capabilities and opportunities to connect with buyers.
During his 33-year career, Infinityy Co-Founder and CEO Jim Schoonmaker has been one of the proptech leaders behind commercial real estate transformation. His dedication recently landed him on the exclusive GlobeSt. Influencers in Commercial Real Estate Technology 2023 list.
Making a Business Impact from Day One
Schoonmaker’s entrepreneurial journey began early: He was making an impact in the world of business even as a student.
While earning an MBA in Product Development & Entrepreneurship from MIT Sloan School of Management in the 1990s, he helped found the groundbreaking Entrepreneurship Lab course (also known as “E-Lab”).
During this semester-long course, student teams not only learn the basics of entrepreneurship but also get to work closely with founders of fast-paced, high-tech startups to help them complete strategic projects. Over the years, students in the E-Lab course have facilitated work on AI for 3D simulation, autonomous drafting software, decarbonization and much more.
Schoonmaker was also instrumental in creating the world’s first business-plan competition, originally called the MIT $10K (known today as the MIT $100K). This competition brings students and researchers from MIT and the Greater Boston area together to transform their talents, ideas and technology into leading companies.
Schoonmaker’s Influence Across Commercial Real Estate
Three decades later, Schoonmaker isn’t slowing down. Today, he’s the brains behind our immersive, 3D tour technology. His long-held passion for modernizing commercial real estate through innovation and entrepreneurial ideas inspired the curated and elevated experiences that Infinityy offers to help sellers stand out from the competition.
Only a few years ago, while he was conducting a remote apartment search with his daughters, Schoonmaker uncovered an opportunity. During his hunt, he noticed that the industry lacked a way to bring virtual content together so owners, brokers and tenants could collaborate virtually.
While some virtual platforms did exist, they only offered a one-size-fits-all “presentation mode” — a way for buyers to view a tour remotely, see images and read about the property. What they lacked was an exploration process or way to bring personal interaction to the online experience.
Schoonmaker envisioned a way for buyers and sellers to share virtual experiences using existing content, such as 3D tours and multimedia, and facilitate instant connections in not only multi-family real estate but also single-family and commercial real estate. And that’s how Infinityy was born.
“As the real estate market continues to rapidly shift, the real estate industry is searching for solutions,” says Michael Beckerman, CEO at CREtech, to sources at Infinityy in a recent press release. “It has been incredible watching Jim drive his team to develop and launch the Infinityy platform that will transform and modernize the real estate decision-making process into a shared, collaborative and online experience, allowing users to decide on the perfect space together.”
This isn’t Infinitty’s first industry recognition either. In 2018, at the CREtech New York Conference, Infinityy was named a winner in the Real Estate Tech Awards (RETAS) in the Imaging & Virtual Reality category.
Prior to launching Infinityy, Schoonmaker served as the CEO and founder of EveryScape, which pioneered the first street-view experience in 2006 and became the industry leader for companies like Microsoft Bing, AT&T, Marriott and NASA. Prior to that, he was the president and CEO of Liquid Machines and president and founder of NerveWire Ventures.
His influence across commercial real estate — and beyond — runs deep. In addition to the differences he’s made through his own companies, he also mentors other entrepreneurs and startup organizations. Throughout his career, he has led more than 12 direct reports who now serve as C-suite executives at companies like FanDuel and Drift, as well as venture-backed CEOs.
Streamlining the Real Estate Sales Process
A result of Schoonmaker’s idea to connect people to relevant real estate information sooner, Infinityy helps sellers target audiences earlier and faster than traditional marketing to accelerate sales, leases and bookings in any real estate transaction.
It’s a patented collaboration platform that provides people with a shared, personalized and virtual experience where they can come together to ask questions, compare information and make decisions. Buyers and sellers join forces to connect, tour and share properties together in customized Infinityy Rooms.
By integrating remote flexibility, scripted tours, local attractions, chats, interactive tours and sharing capabilities all in a single platform, real estate decision-making becomes easier for parties at all levels: property owners and developers, leasing and property management professionals, agents and potential tenants and buyers.
Meet the GlobeSt. Influencers in Commercial Real Estate Technology
The prestigious GlobeSt. Influencers in Commercial Real Estate Technology 2023 award honors commercial real estate specialists who elevate innovation in a way that assists companies in managing processes through technological expertise and the innovations and best practices they have introduced.
Candidates are selected based on their career achievements, the personal impact they’ve made within the industry and their commitment to innovation.
Meet all the GlobeSt. Influencers in Commercial Real Estate Technology 2023, including Schoonmaker, and learn more about their technological expertise, ability to quickly adapt and impact on real estate. You can also learn more about the story of Infinityy.