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Update by Ed Siu, founder of Literati.NYC:  Making Coexistence of Real Estate & Technology Happen

Real estate in general has long been known to be one of the most traditional industries. Along with retail, manufacturing and restaurants, real estate is one of those sectors of commerce that value consistency, customer loyalty and tried and true business practices. It makes sense - if whatever worked in the past to bring in a solid customer base and continues to maintain loyalty, why change?

Today, technology is what gives added value/edge to the business world. A company that does not employ the latest technology, despite its profitability in numbers, is simply perceived as an outdated, unappealing, and even unsuccessful enterprise.

Real estate and technology now combines both the traditional and future-oriented realms, and many startup companies are aware of this.

Ed Siu, founder of Literati.NYC, has already made headway in the world of real estate tech startups, revolutionizing his initially co-living focused company into now, a tech platform provider for other shared space companies to benefit from. For the last 3 years, Literati.NYC has invested in sophisticated software to bring alive a tech/ERP component.

In the growing real estate tech sector, new factors such as virtual tours and mobile tech adds features that appeal to not just the aging demographics, but especially the largest generation in American history - the millennials. This generation is tech savvy, short on attention span and looking for the newest and most efficient ways of doing things, including finding housing.

Literati Group has an advantage, marking out its niche market right outside Manhattan in neighboring Astoria/Long Island City, Queens where developers are projecting 9,000 units to be added to existing housing inventory in 2017. The startup company is working to cater to the lifestyle tastes of its millennial clientele and keeping its software platform updated is crucial.


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