June 13, 2024 • 50 mins
What if your next real estate decision could be guided by AI? Tune in as we explore game-changing innovations in Prop Tech. Discover how advancements make property management seamless, from virtual tours to app-based laundry systems and vehicle vending machines. We delve into AI's future in real estate, automating tasks and predicting equipment failures. This episode offers insights on how technology revolutionizes real estate, while also cautioning about potential risks and threats in today's environment.
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Rachel Oh (00:04):
Welcome to Peaks and Portfolios presented by PEG
Companies, your go-to podcastfor all things commercial real
estate investment.
I'm Rachel oh, and togetherwe're diving into current events
, trends, issues andopportunities impacting the CRE
investment space, fromdissecting the latest market
moves to sharing insights ontoday's commercial real estate
(00:25):
landscape.
It's time to maximizeportfolios here in the peaks of
the Mountain West and beyond.
Hello everybody, thank you forjoining us today.
It is.
I don't know what episode we'reon, but I will tell you.
When we first started this, Iwasn't sure how this would go,
and I am finding it to be ahighlight of my life, so I am so
(00:48):
excited for our guest today.
We're here, summer's juststarted, and just a reminder to
me of how beautiful the WasatchMountains are, so anyone
listening here who has neverbeen here, you've got to get out
here.
Now is the time.
So thank you everyone forjoining us for this week's
episode of Peaks and Portfoliosby Peg Companies.
We've been talking aboutdifferent things in real estate
(01:08):
investment.
We started off with the Fedfunds, rate.
We've been talking aboutarchitecture.
We've talked about, like, howto JV with folks.
We've talked about bank debt.
We've covered a lot ofdifferent investment topics that
I think are super interestingfor the investor.
I think sometimes, however, weforget sort of the nuts and
(01:31):
bolts of what we do.
We haven't necessarily talkedabout construction I think we'll
do that in a future episode buttoday we really wanted to
highlight property technology,or just technology in general
that supports real estate, bothfrom the investment perspective
as well as at the propertylevels, and you know, we read in
the news these days I mean, aiis a big thing.
Turns out AI is also somethingthat we see in real estate
(01:53):
investment.
So, with everything in you knowthat I just discussed, and with
all these different factors inmind, we wanted to hear from an
expert, a true expert that dealswith this all the time, and so
I am delighted to have as ourguest today Jordan E Agnew, who
is my good friend and colleague.
He is the director of IT forPeg Companies and we are so
(02:15):
grateful that you're able tocarve time out of your busy
schedule to join us today.
Jordan, thank you so much forcoming.
Welcome.
Thanks, rachel.
I appreciate it.
I'm happy to be here.
So have you been listening tomy episodes?
I listened to the first one Idid.
Jordan Egnew (02:27):
I also really like your guys' intro.
It's pretty fun.
Rachel Oh (02:30):
Yeah, well, that is.
I mean, we have a greatproduction team.
So, yeah, no, it's been greatand our listenership has been
climbing.
Jordan Egnew (02:46):
So we're getting some folks from across the world
apparently, so it's actuallyexciting.
So, jordan, you've been here.
Now how many years I am comingup?
Rachel Oh (02:50):
on my eighth year.
Oh my gosh, wow, jordan.
I've been here now six years.
When I first started, you'vealways been so helpful,
knowledgeable.
I have watched you grow in yourcareer.
I have also watched Peg growand it's insane today.
So just a little bit aboutJordan.
Jordan has been in IT now for13 years across several
different industries.
He has a background ininformation systems and, like I
(03:12):
said, when I first joined here,I think we were 80 strong and
now we are 1100 PEG employeesacross the nation into Canada,
and you basically overseeanything IT related for our $2
billion plus portfolio ofcommercial listed assets.
Am I right.
Jordan Egnew (03:28):
Yeah, it's been a fun ride and a difficult ride at
different times and it's beenexciting to see the growth that
PEG has been able to go throughand the challenges that have
been faced because of the growthand also, just as time has gone
on, with emerging technologiesand changes in the landscape.
Rachel Oh (03:42):
Yeah, I think back to the pandemic.
Yeah.
I mean before that we were allbutts in seats in the office and
, for that good, what year-ishor so I mean.
Granted, we didn't close downlike a lot of groups did, but we
had a lot of people workingremote with their families and
et cetera, and you had tonavigate that whole process,
like I think back just to that.
Jordan Egnew (04:02):
That was crazy.
That was a challenge in and ofitself.
Like to go from hey, everyone'shere every day to we are no
longer expected to be here.
Rachel Oh (04:10):
Yeah, yeah, everyone's on teams Amazing,
okay.
So you know, one of the reasons, like I said, we want to invite
you is because real estate isso dependent on many things to
make it, you know, for theinvestment dollars to make sense
, but also the technologysupports all of that.
I mean, I look at theinvestment team and all the
different platforms that theyuse, right down to the property
(04:30):
level.
So what we wanted to do is wewanted to bring you in and pick
your brain and better understandthat, especially for our
listeners.
So I'm going to just go superback to basic.
What do you do all day long?
I know that you do these likephishing attempts and phishing
with a PH, by the way, where youkind of see if I'm going to
click on an email and like, ohyou know, you got to take your
(04:51):
IT review course once again.
But what does an ITprofessional do in a real estate
firm such as ours, as big as itis and the different types of
properties that we support?
Jordan Egnew (04:59):
Yeah, you know it's evolved over time.
For sure.
I feel like when I firststarted, the first thing that I
kind of worked on and did wasfocus on the help desk.
You know, just basic, hey, howdo we get computers and email
systems and accounts and thingslike that.
And it quickly evolved intocybersecurity, like okay, how do
we lock down our environmentand protect our information.
But, as you know, we've grownand progressed.
(05:21):
I've had to learn propertymanagement um of PPG and uh for
our multifamily and then alsofor our hospital, which is PEG
property group.
PEG property group.
And then for PEG hospitalitygroup, um, I've also had to?
Um, learn about the hospitalityside, like what do you guests
and tenants want?
What type of technology isimportant to them?
Um, and making sure that wemeet those needs.
(05:42):
And then also, how do we scaleand support all of our general
managers and property managers?
And so it went from very much,you know, service-oriented, just
helping people get access totheir computers, troubleshooting
, to being much more involved indesign strategy, consolidation
of vendors, selecting ofplatforms, integrations into
various platforms, so we makesure we have our data all in the
(06:04):
right place.
So my day-to-day is spent, youknow, managing the help desk
team, making sure that peopleare still able to work, access
their accounts, all the way tomeeting with our property
management teams to make surethat we're putting the right
camera systems in, that we'releveraging the correct smart
home amenities that we're doingthe right low voltage design
with the construction teams, andso it's grown to be all
(06:26):
encompassing of what PEG I thinkaspires to be that vertical
integration moving IT intohelping out all the different
groups and all the differentareas where IT kind of touches.
Rachel Oh (06:36):
So Cameron has often talked about and encouraged and
challenged the teams to leveragetechnology, to incorporate
technology in everything we do.
The teams to leveragetechnology, to incorporate
technology in everything we do.
It maximizes at the investmentlevel but also at the property
levels for to help us to be moreefficient.
And I'm just curious how thatmandate has sort of spurred you
know what you think about andhow you approach technology at
(06:59):
PEG C companies.
Jordan Egnew (07:00):
I think the area that as we grew and we were
different companies, there was alot of silos, a lot of
different platforms that peoplehad, and that was a struggle
because people were used tothese different platforms from
our hospitality management, peghospitality and from our PEG
property group and you know itworks when they are independent
and separate.
One of the biggest things thatwe had to focus on is really
(07:26):
bringing in those platforms andstandardizing them so that we
can get efficiencies andcommonalities and common data
sources so that we can start toleverage that data and be able
to make decisions in real time,understand the cashflow at our
properties, understand, like,what our occupancy rates are all
those types of things in realtime.
And that's been one of thebiggest areas I think we are
starting to realize and we'vegotten to is the merging of all
(07:48):
those platforms, and I thinkwe're getting to the point where
we're starting to be able tocreate dashboards and live
reports and make decisions inreal time based on what's
happening today.
Rachel Oh (07:58):
Yeah, yeah, no, that makes sense.
I think dashboards are superhelpful and I know that we use
it in our own, you know, kind ofour investor services areas and
all that.
So, okay, so technology isobviously like when I first
started.
I think there was just a coupleof you and now the team is, I
don't know 10 strong.
How many do you have?
Now we have six, okay.
Jordan Egnew (08:20):
We act like there's 10 of us.
That's how much work we getdone.
I just see all of you, we actlike there's 10 of us.
Rachel Oh (08:24):
That's how much work we get done.
I just see all of you.
So okay.
So you're, you know you guysare you support, obviously, the
1,100 employees, but then youare supporting our tenants at
the different properties, You'resupporting our guests.
Tell me about like sort of howthat then has evolved.
As you know, you're addressingour employees' needs, but then
you're also addressing the endusers.
(08:44):
Like, tell me how that works.
Jordan Egnew (08:47):
Some of the specific items you know when I
first started helping out thehotels, like mobile key.
Like a lot of our hotels,didn't have mobile key, so
essentially mobile keys, whenyou go to the hotel you're able
to use the app that Marriott,hilton or Hyatt has.
And then you can get your keyand go up to the door and get in
.
I do it all the time.
Yeah, it's one of those thingsthat, like our portfolio, a lot
of our hotels didn't have it,and so identifying which ones
(09:08):
didn't have it and then pushingto make sure that we get those
types of things at the hotelsfor our guests and for the
experience there, and that'sjust like one example.
Rachel Oh (09:18):
By the way, we take all this for granted, I think.
I just think that someone justpresses a button and it just
happens, but it's probably notthat easy, am I right?
Jordan Egnew (09:24):
No, it takes a lot of upgrades and coordination
with many different vendors andthe property communication to
your guests and or tenants,depending on which asset you are
in and it takes a lot and it'sdefinitely a team effort across
(09:48):
many different groups.
But it is nice and I enjoy thataspect of my job.
A lot is how I think about.
How does my technology andinitiatives impact the guest
experience and, like the personliving in our multifamily assets
, like, what would I want if Ilived here?
What do I benefit from?
And then knowing that, oh,people get to go recreate and
have a good time and they canjust bypass the front desk.
There's a long line, a simplething, yeah.
Or ensuring that you know wehave working business centers
(10:12):
and things like that all the waydown to those, hey, you don't
need to print things often, butwhen you do, sometimes, it's
traveling, you got to make sureit works.
Yeah.
And it's been a it's been a funexperience yeah.
Rachel Oh (10:25):
So experience, yeah, so, okay, you know, I know we
have our 702 main, which is oneof our newer uh apartment
buildings in downtown Salt Lakecity, and what I one of my
favorite features when we take atour around that is, uh, you
know, tenants can just buy, justgoing to the little store pick
up something and just walk outRight Like they don't have to do
anything.
Am I right?
Jordan Egnew (10:41):
Yeah, no, it's in a great amenity to have.
So describe it yeah whatRachel's referring to
essentially is we've partneredwith a group that essentially
comes in and they will offer akiosk and all the different food
like drinks, snacks, even up tosandwiches and different things
like that, depending on thesize of your property.
But you can basically get whatyou need, check out and walk out
(11:03):
and it's open 24 seven.
It's available to the residentsthat are there Um and it's just
really convenient and easy forthem to access and I do feel
like um, based on like what I'vetalked with our property
manager team, that has been verybeneficial um as an amenity to
offer to people, cause they'relike, oh, I see myself using
that Um and it's something theywant and it's not like there's a
low level of theft, or how doesthat work?
(11:24):
yeah, so it's actually managedby like a third party and they
take on that reliability.
They do have some requirementsfor you as the the management
company and having like a doorthat has fob access and things
like that, okay, but they takeon a lot of that, those items,
and they have like cameras inthere.
Um, so when you walk in you'rebeing recorded by that, that
vendor, and things like that,and so if you do, do, don't you
dare steal that cup of noodlesor you're going to get fined.
(11:46):
Exactly, they'll, they'll,they'll.
Uh, attach it in some way.
They'll the.
The vendor reaches out and letsthe property know.
Rachel Oh (11:52):
Okay, so technology in a in a sense like that is is
pretty obvious.
So I get it's really cool, it'sreally slick.
It reminds me of kind of likethe Amazon grab and go.
Yeah, what about some, sometechnology that may not be so
apparent but has been, you think, quite instrumental in, you
know, creating efficiencies foreither the hotel guest or, you
know, the tenant at one of ourproperties?
Jordan Egnew (12:14):
One of the ones that's been really nice is we
implemented as a company asystem called Yardi is basically
like our property managementsoftware with a lot of our most
of our multifamily assets, andwhat is nice about this is as a
tenant comes and gets onboardedor moves into the property,
we've been able to connect manydifferent systems and selecting
(12:35):
with our vendors from, like, ourdoor access control to our door
entry system, your voice box atthe front, your call box and
all the way to your parking, andyou basically fill out these
forms and all this informationand day one you're able to walk
into your unit.
You're able to have an emailthat gives you your key app
access to your room.
You walk in, you have internetaccess already set up for you
(12:58):
and configured and you haveaccess to it Just day one you
walk in the door.
Everything is there and youhave access to it.
Just day one you walk in thedoor.
Everything is there your dooraccess, your amenities access
your parking, along with yourinternet access and your cable,
and that's been really efficient, because then residents don't
have to take a week to get thethings that they need.
Rachel Oh (13:16):
Yeah, that's amazing.
I don't think I realized.
I mean, we obviously track ourinvestors' investments through
RDA.
I didn't realize that it wasall the way down to the property
level.
That's very slick.
Okay, okay, very cool, okay.
So we've got interestingtechnologies like that.
Tell me, then, what else likekeeps you up at night, like what
?
What does your team focus on?
(13:36):
I know it's not justimplementing technologies that
make life more efficient.
I imagine there's a lot moreserious type things, and I'm
thinking like cybersecurity andfraud and all those things.
Tell me a little bit about that.
Jordan Egnew (13:51):
Yeah, some of the things that we've been seeing at
our sites, it's been changing alot, to be honest, in 2020, the
things that we're facing now in2024 are completely things that
I did not really even run into.
So tell me, what are we talking?
Yeah, some of those items wouldbe very sophisticated and
(14:11):
targeted like fraud where theyhave information.
For example, our hotels haveseen a huge rise in just
telephone fraud, which has beensurprising, like you wouldn't
think that'd be a normal waythat someone would get in.
Rachel Oh (14:23):
What is?
Jordan Egnew (14:23):
telephone fraud yeah they just call the front
desk at different timesthroughout the day and a lot of
times they're targeting whenthey know that management has
left, so usually post fiveo'clock.
Okay, they call the propertyand even sometimes your night
auditor, where they're the oneperson on property.
They call them and they createa sense of urgency around some
type of thing.
Hey, we're going to turn offyour power.
(14:46):
Hey, we're going to do thisbecause you didn't pay a bill
and if you don't get that done,then you're going to not have
power essentially.
Or you know, we're doing somesystem updates and testing and
we need to make sure that yourpayment processing is working
correctly.
And you know, and those havegotten.
We've never had any instance sofar in our portfolio where
we've run into loss, but we'vegotten to a point where
(15:07):
employees have gotten close tothat and, without proper
education and training, stoppingthat, where they don't follow
through with that action, and itis a little scary just the rise
and the amount that you'regetting At the hotels you have.
You know, a lot of youngerpeople who are first time jobs
(15:28):
and making sure that they areeducated and aware of these
things, because they just wantto do what they think is right.
And they're like oh, IT'scalling me, Hyatt, IT's calling
me, I need to make sure I getthem into my system and they can
check this.
But in reality it's all just aruse to get them into your
system, to have them basicallytake action against you.
Rachel Oh (15:45):
So crazy so they'll just call someone unsuspecting.
They're trying to do a good job, so like, oh my gosh, I need to
be responsive.
And then who knows what happens.
Jordan Egnew (15:53):
Okay, and the thing is, they also have very
specific information, likeintimate knowledge, so they seem
like they are legit.
They sound like they're fromMarriott, they've got like an
employee ID and they know like aname and they're just usually
spoofing an employee that's inIT, that's really employed with
them, and they pretend to bethem and they have working
knowledge of the systems andit's a little different than
(16:14):
what we used to have.
Rachel Oh (16:15):
So what are we talking then?
Like I mean, are they wiringmonies to these people?
Like, what kind of things arethey actually able to?
Jordan Egnew (16:22):
Yeah, one of the things that they try to attempt
to do is a penny test so they'llget into the property
management system, or they'llattempt to get you to get them
into the property managementsystem and have you do a penny
test.
But what happens is they kindof the way they're talking to
you in urgency, they usuallyencourage you to add, like an
accidentally add an extra zeroor a couple zeros, and you think
you're just doing like a onepenny test, the way that they
(16:44):
like explain it.
You think, oh, I'm just doingone penny.
In reality, they're trying todo like $10,000 to $1,000
transactions at a time and theyusually try to get you to do
that multiple times.
Wow, wow.
And people fall for this.
Yeah, it's been falling, I meaneven so, much so that now in
the past month, all of theproperty management systems,
when you get into, like Hyatt,and you log into your PMS every
(17:06):
single day, there's a big redbox that says Hyatt, it will
never call you to ask you toperform any payment processing
items.
So, like the brands are takingit very seriously PEG, we're
trying to take it seriously,where we send out monthly emails
just reminding people about thereality of this and that IT is
never going to do that.
We employ Ninjio cybersecuritytraining program and we rolled
(17:27):
that going to do that.
We employ Ninjio, acybersecurity training program
and we rolled that out to allassociates and it's a monthly
video that's three minutes longand they just goes over some
cybersecurity and keeps it attop of mind, because that's
usually how you can best defendthese things.
It's always a cat and mousegame.
They're always going to figureout a new way to get in.
And so just keeping it top ofmind and educating.
(17:48):
So you're staying on top ofthat and you're critically
thinking about is thispotentially someone trying to
get me to do something Ishouldn't do?
Rachel Oh (17:54):
Yeah, Well, it sounds like to me number one thing
don't answer the phone, I'msorry, no you got to answer the
phone but, like to your point,they will never reach out via
phone.
So then, how?
I mean, obviously these brandsand banks and things have to
communicate with the properties.
How do you train or what arethe?
(18:14):
I mean, what are the thingsthat you train, uh, these folks
to be aware of?
And I imagine I can glean a lotof that too, because my bank
also, when I log in, says wewill never call you for
information, like you literallyhave to log into the site or you
have to call this number, likewe'll never reach out, right.
Jordan Egnew (18:31):
Yeah, so what?
Yeah, and that's usually whatit is.
It's creating proper channelsin which to verify things, and
so usually it has to be a secureplace, right?
It's a place that you'relogging into, usually behind,
like a multi-factorauthentication or something like
that and it's going to alertyou or let you know that
something's going to happen.
Rachel Oh (18:47):
Oh yes, the multi-factor authentication In
advance.
Exactly, I'm very well awarethat you put it on everything I
do, but okay, okay.
Jordan Egnew (18:53):
Exactly, I know, it makes life so much harder.
Rachel Oh (18:55):
I get it, but that's why right, exactly so it's to
protect Okay.
Jordan Egnew (19:10):
So you know that what you're going to get that
information and making sure toverify via those channels is the
way to eliminate those things.
So if anything ever comes froma channel you're not used to or
is from as in text, call arandom email, you want to make
sure that you verify it througha secure and verified way, that
you know that other person isgoing to reach out to you a
predefined path and that canvary upon different organization
(19:31):
and group, but that's animportant thing to always make
sure that you think about isokay.
How am I normally engaging?
and finding this information.
Rachel Oh (19:40):
Okay, so I could see that being an area of concern.
What other things keep you upat night?
Jordan Egnew (19:46):
Yeah, I mean with AI, and I think a lot of this
has been fueled by AI.
Ai is a wonderful tool.
Rachel Oh (19:53):
Ai is everywhere.
It is, it's everywhere and it'sdown to this level too.
Jordan Egnew (19:57):
It sounds like, yeah, I mean you have to think
if the billion dollar industriesand multinational companies are
utilizing it.
You know the other groups thatare bad actors across the world
are also leveraging these sametools and developing ways to
utilize it.
Rachel Oh (20:12):
So you're saying fraudulent, active and all that
is also leveraging AI.
Yep, wow, they're so smart,okay so now.
Jordan Egnew (20:18):
I mean, you can be someone who does not speak
English or even has an accent oranything like that, and you can
essentially sound just likeanyone else you want to sound
like and hide your real identity, and you can use vocabulary and
things like that that youwouldn't normally know because
(20:39):
you hadn't necessarily studiedEnglish to the depth that many
people know it, and you canoften the areas in the old adage
where you know look forspelling errors in your phishing
emails or look for weirdformatting or when you're
talking to someone if they'renot able to communicate very
well, or things like that.
Maybe that's a sign that maybeyou're not talking to the source
that you think you're talkingto, but with the advent of AI
(21:02):
and the tools that are leveraged, that's gone.
Rachel Oh (21:04):
That's all gone.
So then, how do you?
I mean so the old techniques orskills, or you know?
Cues that you could go off ofare no longer valid.
So then, what I mean?
What?
What's left?
Jordan Egnew (21:17):
Yeah, the next, the phase there then you have to
do is you implement just higherverification processes.
So I know that PEG has like aanytime, like wiring of money is
going to happen.
We've instituted a phone callto a predefined contact that we
know and have validated inadvance of the wire and we
validate with them.
(21:37):
And the reason that we do thatis because you can't necessarily
always trust a team, an emailcoming in from somebody
verifying things, or if there'slast minute changes, we're
always going to verify.
Anytime any wiring instructionschange, Anytime there's any
changes, we have to verify withone of those predefined channels
that we have.
And even that area we'relooking to even change
(22:01):
potentially here at PEG isbecause you can even start
leveraging.
I mean, this is a little, it'sa little scary here, but like
there's SIM hacking wheresomeone can essentially I'm
sorry what SIM hacking on yourphone, SIM hacking.
Yeah, so every phone has a SIMcard.
It's the thing that communicatesback to your provider and gives
you your service.
In some instances, there hasbeen a rise in bad actors being
(22:24):
able to copy your SIM throughnotorious methods, as in
contacting T-Mobile andpretending to be you, or your
T-Mobile account is not secure,and they get into your T-Mobile
and they order an extra SIM card.
They get a SIM card deliveredto wherever they are.
They put it in their phone.
They essentially are receivingthe same text messages and calls
that you are getting, and nowthey know when you're getting a
call from someone to verify awire transfer, they can pick up
(22:48):
and they intercept your calls oryour text messages.
And so that becomes worrisomebecause now it's like okay, can
we trust our phones?
Like, what do we do next?
Right.
And so some of the new adages orthings that are coming out
around this are having like acode word, essentially with your
bank.
That's like your banks, right.
(23:08):
They say, hey, when you call in, what is your passphrase?
Yeah, yeah, yeah.
And you're like blah, blah,blah, blah.
I love lemonade, or somethinglike that.
It's because it's a rant.
Now, I know yours, I know I'mjust kidding, be careful, but
you got to be careful because Ipassphrase that you and that
(23:30):
person know.
So, it verifies you.
And that's somewhat the levelthat we're heading to, because
AI not only can it now do verygood written explanations, but
there's also tools to now dovoice, where in real time, I
could be speaking to you, rachel, and I, rachel, and if you
spoke Korean or something likethat, I could just be talking to
(23:54):
you in Korean and you'd have noidea that I'm just speaking
English into an AI translatorthat's spitting back out a voice
that is Korean.
Rachel Oh (24:01):
Oh my gosh, that's like a scary world.
Jordan Egnew (24:03):
In real time.
Rachel Oh (24:04):
I feel like I don't even know what's real or what
isn't real is what you're saying.
Jordan Egnew (24:09):
And it's getting more difficult.
There are tools, and there'slots of, you know, agencies and
defenses being enacted byplatforms that scan, for example
, like social media, when peopleupload a video that's been
altered by an AI tool, there areways in which they can look at
the metadata or the informationthat's tied to that video and
look for changes andmanipulation.
Rachel Oh (24:29):
What if AI gets so smart that they can mimic?
You know, I mean.
Jordan Egnew (24:33):
Yeah, I know I mean then you just hope that
we're keeping up on our tools tobe able to discover it.
Rachel Oh (24:36):
I feel like we're going to go back to some sort of
weird analog world.
Jordan Egnew (24:40):
I don't know where that's heading.
Rachel Oh (24:42):
You just can't tap into the phone line.
Jordan Egnew (24:45):
I think one of the big areas is biometrics.
You're seeing a lot of likebiometric type things, like your
phone with face ID is kind ofthe beginning of one of those
things, right?
Rachel Oh (24:53):
Well, they do thing at the airports, right.
Jordan Egnew (24:55):
Yep Now when you go to the airport and then you
scan your driver's license there.
I think that's kind of wherewe'll be heading, is where
you'll have to do biometrics.
I'm even seeing it integratedinto, like DocuSign and
Salesforce, where you can useyour thumbprint to essentially
sign in to those platforms toaccess information.
So you're seeing enterpriselevel big organizations starting
this.
Rachel Oh (25:15):
I feel like I need to invest in some biometrics now.
Jordan Egnew (25:16):
Yeah, and the reality is we're moving away
from a password, moving to apasswordless future, essentially
.
Rachel Oh (25:21):
Thank goodness, my passwords I don't.
I'd much rather touch somethingthan have to remember my
password, so I'm actually okaywith that.
Jordan Egnew (25:30):
So it might be nice for you not to remember the
1,300 passwords you have acrossall your different platforms.
You can just use your face.
That would be nice.
Rachel Oh (25:37):
No, I love that.
I wish I could open my doorwith my face, but maybe we'll
get there.
Okay, so we've talked aboutmitigating the risks associated
with AI, more specificallyaround cybersecurity and things
of that nature.
At the property level, what arethe good things about AI that
we're able to leverage and howare you doing that with?
Maybe even the prop tech?
(25:57):
I mean, I don't know, but, likeyou know, at the PEG level,
with our investments.
So the investment team, realestate development team, the
construction team, down to ourtenants that are just living
like, or you know, at a hotel.
What are the good things aboutAI that we're able to?
Jordan Egnew (26:15):
leverage you know some of the areas that we're
trying to leverage or look at.
Ai is like on a lot of ourwebsites.
We'll have a chat bot where itinteracts with our property
management software, yardy,where it understands, like what
policies and generalavailability that units have,
and it can actually communicateas people ask questions like
what units does this place haveavailable?
And it can actually communicateas people ask questions like
(26:36):
what units does this place haveavailable?
And it will actually be able tocheck and let them know in real
time what's available via achat.
If they don't necessarily wantto like navigate through the
entire website, you can also askit just various questions about
the property and it can kind ofhighlight things.
Those items are kind of in ourbeginning stage, I believe, and
I feel like over time futuremodifications and improvements
(27:00):
will be added to this to reallyfacilitate a leasing experience
that would be virtual.
Rachel Oh (27:06):
Yeah, you keep mentioning that, so explain that
to me.
You're saying there won't belike this cheerful leasing agent
that's going to greet me.
I'm going to come and I scanwhat.
I scan a QR code, I get accessand they'll just something, will
walk me through or tell me howthat works.
Jordan Egnew (27:21):
Yeah, some of the areas that I'm seeing that
groups are exploring.
It's not necessarily that theydon't have a leasing agent per
se, but you don't depend on aleasing agent, you don't always
depend upon that person Ifthey're on like a tour or it's
after hours per se.
You can have a location or likea kiosk that's in an open
location that potential peoplecould walk in on like a Saturday
evening later on when youroffice is technically closed and
(27:43):
they can see your availability,and they would be able to
essentially do a completevirtual tour via this kiosk and
interact with this kiosk and askquestions like what are the
fees, what are your policieshere?
And it's able to all checkthose in real time and
communicate those to you viawritten text or even audio back
to you.
Rachel Oh (28:03):
So this is all just via chat.
You're just sitting at home andyou're able to do it.
This is if you came into theproperty.
Jordan Egnew (28:09):
Oh, you come into the property, yeah, and it'd be
like a kiosk or type ofinterface that you can actually
interact with via voice and talkto.
Rachel Oh (28:16):
Can you walk around the property too?
Jordan Egnew (28:18):
So some of the groups are exploring that that
one has some additional layersof security problems, so on that
one.
They would have to take apre-verification where they've
submitted their driver's licensevia secure portal.
You know who they are and thenthose people can get essentially
an invitation if they're notable to come, like during normal
operating hours, or maybe theydon't feel comfortable always
(28:39):
interacting with the propertystaff.
Some people just enjoy doingtheir own thing and figuring
things out themselves, and so tohelp connect with those people,
you could present upessentially a virtual meeting.
You've authenticated who theyare, they can come in and via an
(29:00):
app, they would get temporaryaccess to be able to come into
the property and go tour a unitwithout necessarily always
interacting with the leasingagent.
Of course, the leasing agent'salways going to get information,
they're going to follow up,they're going to make that human
connection with that individualand ensure that they feel
welcome.
But it really helps with thosepeople who may not always want
to go that route.
Yeah, yeah, yeah.
And it kind of extends yourbusiness hours too.
Rachel Oh (29:21):
Yeah, no, I could see that being highly beneficial
because, again, you know, laboris always a big thing just
across the board and being ableto maximize after hours and not
having to employ additionalfolks and offering that and ease
of convenience for our tenantsand whatnot.
Jordan Egnew (29:40):
One area we're like a little bit not exactly
doing this, but in a slight wayis our Avia residencies.
We've actually, their hours area bit reduced, they're our
hotel, they're more of anextended stay type hotel asset
and their hours, I believe, arefrom eight to eight.
So what that means is there'speople usually checking in,
sometimes after eight o'clock,right.
(30:01):
So we've been able to set up aprocess in which the office can
close at eight o'clock but, viasmart technology and different
integrations with differenttools, those guests are able to
actually come to the propertyafter hours, access and get
their keys, the property map,the information that they need
and go directly to their roomwithout having to have a front
(30:22):
desk person necessarily there.
And this isn't like a hotelthat's linked with a major brand
like Marriott, hilton.
This is something that PEG haskind of created ourselves and a
process in which we've createdbased on a need in an asset
category.
Rachel Oh (30:35):
Yeah, yeah, I know, I know that in our meetings a lot
of times you talk about proptech, property technologies.
Tell me a little bit about that, because I feel like you talk
about that a lot yeah.
Jordan Egnew (30:47):
One of the recent areas that I've been more
involved with I'd say in thepast year and a half two years
at PEG is I started to learn ourdevelopment construction
process.
I just found that we weren'talways standardizing some of our
vendors and platforms and Ireally wanted to get involved
and understand.
What can I do from a technologyperspective to try to
standardize our not only ouremployees experience and how
(31:11):
they interact with the tenantsand the tools that they have,
but also how do I make sure thatour tenants are getting items
that they want?
and that they work the way thatthey're intended to work and
we're getting all the featuresthat we paid for essentially,
and so some of that.
Rachel Oh (31:26):
So like explain, like what do you mean?
Jordan Egnew (31:27):
Some of those, items are, like your smart home
technology, that are inside ofyour apartments Okay, from your
door all the way to yourthermostat smart lights, to
being able to walk around theproperty and have property Wi-Fi
, where you're actuallyconnected to your personal
network, all the way back inyour unit.
And you can interact with yoursmart devices even though you're
(31:51):
at the pool, and so, basically,they've been able to create
these networks at hotels andmultifamily assets that, no
matter where you go on theproperty, you're still
technically connected to yourhome network, which really helps
you as you want to interactwith your IOT or your smart
devices back at your apartmentin real time.
Rachel Oh (32:14):
So that's, they probably hadn't contemplated
that in the beginning, butthat's something that's morphed
over time.
Is what you're saying?
Jordan Egnew (32:18):
Yeah, and that's been definitely since the since,
like the pandemic, everyonewent home and people were just
there all the time.
A lot of things, yeah.
Rachel Oh (32:28):
I'm not one of those, by the way.
I literally leave my home inthe morning and I'm either at
work or out and about.
Leave my home in the morningand I'm either at work or out
and about, and I do not comehome until it's dark.
Jordan Egnew (32:36):
So I am not one of those people yeah, and I I
think there's I think it's twopeople in two different camps.
Usually I'm the same way.
I don't love.
I like to be outside my house alot of the time, right, I like
coming to the office and seeingpeople, but there's so many
individuals and people that haveneeds for that and they, they
want to be at home and they justenjoy being in that location,
and I think the reality is islike a lot of people and that
(32:59):
kind of leads me into like someof the amenities I guess you can
offer with the smart home orprop tech.
One of the other things thatwe've seen technology-wise is
like your fitness room, makingsure you're getting like Fight
Camp, which is like a I'm sorry,what camp yeah?
So Fight Camp is like.
Rachel Oh (33:13):
I've heard of Fight Club, fight Club, but this is
Fight Camp.
We don't talk about Fight Club.
We don't talk about Fight Club,just kidding.
Fight Camp, fight Camp.
Jordan Egnew (33:20):
Yeah, it's basically think of Peloton and
like an online personal coachthat walks you through running,
biking, whatever it is.
It's specifically to likeboxing and it gamifies and makes
it competitive with a bunch ofpeople to do boxing.
So you have like these mitts onthat have sensors and then you
have a boxing pad that hassensors and it knows where
(33:42):
you're hitting it, how hardyou're hitting it Really.
Rachel Oh (33:44):
Yeah, we have this at our multifamily.
Jordan Egnew (33:48):
We haven't implemented it yet but we are
looking at that.
We've implemented some otherones, like Peloton, echelon,
yoga Mirrors, but those are thetypes of things people are
looking for because there areexpensive items like right and
people don't necessarily havethe funds to always go out and
purchase those.
But when you add these featuresinto, like your gym, even if
you don't have a lot of space,and you put these types of
(34:08):
high-end, high-value items,people are like, oh, like that's
some value for me.
Rachel Oh (34:13):
It adds value to their experience, their living
experience.
Jordan Egnew (34:16):
It's not just a treadmill and a regular bike
right, yeah, yeah yeah, they'relike.
Oh, even whether they use it ornot, it invokes a stronger
emotional connection and wantand desire to live in a place
that has those types of thingsInteresting.
Rachel Oh (34:29):
You should get, we should get robots.
I don't know if robots aretechnology, but how about robots
that give massages, that we?
Jordan Egnew (34:35):
should get robots.
I don't know if robots aretechnology, but how about robots
that give massages?
That would be nice.
We have implemented at some ofours in the health and wellness,
because that's been anotherhuge area.
Not that this is like necessarytechnology, but those water
massage chairs oh, yes, yes, yes, yes, I've seen those and those
are super nice.
Those are amazing.
Yeah, yeah, yeah.
Rachel Oh (34:57):
No, I did try one once and it was amazing.
Jordan Egnew (34:58):
Okay, so that's what you mean by prop tech, then
, like, how about something evenas boring as like laundry?
Rachel Oh (35:01):
Yeah, we usually have in-unit laundry but like some
of the areas that we've done,we're nice, we give people in
laundry, exactly.
Jordan Egnew (35:05):
But some of our assets don't like our Avia brand
.
Rachel Oh (35:08):
Oh, yes, a lot of them.
The former hotels.
Jordan Egnew (35:10):
Yeah, the former hotels, a lot of those.
The renovation didn't have roomto necessarily add in that type
of equipment into each unit,but what they did is they
created laundry rooms, obviously, but they removed um, like the
cash, it's all like qr based.
It's app.
So you walk in, you select what, you scan a qr code, you select
which dryer washer you're usingand you can just pay digitally.
(35:31):
Nice, and it also will let youknow when things are done and
and updates you okay, yeah, soyou don't have to like sit there
if you know you feelcomfortable at that.
Rachel Oh (35:39):
but so I imagine then in the in-unit ones, aren't
those also wireless, or do theyhave any Wi-Fi technology that
they could?
They could, I don't operatethem.
Jordan Egnew (35:48):
We could.
I don't believe any of oursthat we have explored, but
that's actually a really goodpoint.
Um, there are a lot of washersand dryers that do have.
They're, uh, connected to iotwhich is iot is just internet of
things.
It's just any device that kindof connects to the network and
has some type of um interactionwith it.
That could be a, a fridge, atoaster, whatever.
Everything is iot nowadaysreally, if you want to find it,
(36:10):
you'll buy it.
Rachel Oh (36:10):
You bring up a really good point for because I am my
own IT manager at my house right.
I am my own chef, I am my ownhouse, like I am everything.
What's nice is, if you'rerenting and you're renting with
a group, you know, that hasthose kinds of things, that's
actually a huge advantage,because then you are my IT
person, I don't have to do itall.
Jordan Egnew (36:28):
Exactly, and someone's designing that
infrastructure for you andhaving those items for you and
you don't have to manage it.
Rachel Oh (36:35):
So it sounds like, in addition to cybersecurity and
the advent of AI and how tomitigate those risks, you are
also concerned about the actualproperty level experience, the
tenants making sure they're ableto leverage the most available,
the best available technologies.
It sounds like in the livingexperience.
(36:56):
Yeah.
Jordan Egnew (36:57):
And another one of those areas I felt to mention
is like our package lockers.
Even Just partnering with likeAmazon and having like smart
package lockers where Amazon cancome put things in a secure
location that tenants can accessand also return items directly
back to Amazon.
It's just like one of thosereally great features you don't
always think about but as youmarket it and advertise it and
(37:17):
show it to prospective tenants,they really enjoy that and there
is a value added to theirexperience.
Rachel Oh (37:24):
I think that's so interesting.
Again, when we first talkedabout this, I think we started
off with data and whatnot, andwhat you touch and the decisions
that you make and thestrategies that you implement
are so far reaching right.
Not just for someone like myexperience.
But again down to the hotelguest who is able to, you know,
(37:48):
use a key card to get in and noteven have to interact with the
front desk, Cause I come intoproperties sometimes at like two
in the morning and I just go tomy, I mean that's awesome.
And then you know, down to um,the tenant at one of our
properties that can get avirtual tour or, you know, just
be able to walk into their homeand turn on the lights and have
it already done, and that'samazing when it's almost
(38:10):
becoming an expectation ofpeople.
I think, and when you don't haveit, it's then I'll become,
become subpar.
Jordan Egnew (38:15):
Yeah, it was like frustration built up.
Rachel Oh (38:22):
Yeah, no, I like that .
Okay, so we've been talkingabout some of the things that
are available.
Now Tell me some of the thingsthat are coming.
Like, what does the future looklike?
I was joking about robots doingmassages.
Know, what is this brave newworld going to look like?
Like, what are we talking aboutin terms of, uh, things that
you're seeing that are futurestate but are likely to come?
Jordan Egnew (38:45):
yeah, and and I want you to blow my mind like,
tell me, like what are somecrazy things that are going to
happen, stuff yeah, like I meanjust stuff that you've seen,
like yeah um, obviously some ofthis will be just like me,
speculating about potentialthings based on what I know.
So, whether it happens or comesto fruition, full well, time
will tell, right.
(39:05):
But some of the areas that I dofeel that AI is going to really
benefit not only the tenantguest experience but also the
operational side.
It all kind of connects back totaking off all the automated
tasks that we have to do today-to-day submitting a report,
automating emails to residents,automating notifications.
Rachel Oh (39:28):
So you're talking at the property level, for the
property managers and theregionals and all of that.
They're going to have moreautomation built in.
Something's going to actuallytell them what to do or it'll
get done.
Jordan Egnew (39:38):
Or take care of it for them essentially.
Another area that I'm seeing isin maintenance.
We're seeing different AIsensors, different sensors being
integrated into maintenanceitems.
Rachel Oh (39:49):
You know, my Google Home tells me when to change my.
Air filter, air filter, and Idon't even know how it knows
yeah I've changed it like howdoes it know?
Jordan Egnew (39:58):
I think that that one does a combination of time
and then also like the pressurein which the air is passing
through.
Rachel Oh (40:03):
Okay, and so then it's creepy.
I'm like how does it know, butit'll be like time to change
your air filter and I'm likewhoa, you're like, okay, well,
same thing with that.
Jordan Egnew (40:12):
Like think of your big like boiler rooms and all
of your different HVACs and yourdifferent systems.
So actually what they're ableto start doing is, with the AI,
they will know basically whichproducts you're putting into
your asset whether that be thetype of furnace, the type of air
conditioner unit, all the waydown to your door access and
your doors, all the way down toyour door access and your doors.
(40:34):
They can basically starttracking these devices and these
different items and comparingthat to the many different
properties all over the countryand the world that have done
that and start extrapolatingthat data.
Rachel Oh (40:45):
Oh my gosh, that is so crazy.
Jordan Egnew (40:46):
They can then start saying, ok, we're starting
to see these start to fail, andin real time you can start
getting alerts, saying, ok, itlooks like model three of your
air conditioner unit that you'veinstalled at this property is
starting to see some issues onyear three and it can alert you
in real time.
Maybe you haven't seen it atyour property yet, but it starts
(41:07):
happening, and so then you canstart predicting maintenance
requests and then you can alsostart.
I think what that eventuallylead to is understanding which
is the best system to put intoplaces.
Yeah.
And you have data to say okay,we don't want to choose that
type of air conditioning unitbecause we've seen a failure
rate at this rate.
Yeah.
And so you can start makingdecisions, not only basically
throughout the whole process,not only how you're maintaining
(41:29):
it, but you can choose whatyou're putting into a building
and hopefully making betterdecisions on the systems you're
putting in it.
But you can choose what you'reputting into a building and
hopefully making betterdecisions on the systems you're
putting in, but then also beingable to proactively start
planning maybe a year or two inadvance of when you know you're
going to have to put some equityinto your property.
Rachel Oh (41:42):
That is so interesting.
That is amazing, because wedon't have to do anything, I
don't have to remember stuff.
It's going to evaluate for me.
It's basically just going totell me what to do.
That's, I think, pretty crazy.
Jordan Egnew (41:56):
I think it's crazy too, but I think the caveat on
the question I think I come backto in that, well, if I wasn't
worried about this, what otherthings could I solve?
Could I be more creative in myjob if I was able to take out
some of the tasks of rememberingthings?
Would that facilitate me to bemore strategic?
And I think that's where weshould all focus, you know, as
(42:16):
individuals, as organizations,as companies is how can we take
some of this low-hanging fruitand items that we have to be so
reactionary to all the time andcause fires?
How to be a little proactive soI can save myself time, so I
can remain strategic, I can becreative and not have to have
these stressful situationshappen as much no-transcript.
Rachel Oh (43:01):
Excellent job doing so.
I think that's superinteresting.
Okay, anything else I've missedis we've been talking about
technology, about AI, aboutcybersecurity, about all these
things as it relates to realestate investment that I think
people are probably maybe not asaware of.
Jordan Egnew (43:17):
Yeah, I think.
One other one is like electricvehicles.
Right, it's not maybe astrictly IT type of thing, but
there's a lot of like grantmoney and money going around
right now to implement and putin infrastructure around EV
charging infrastructure aroundEV charging and so we are trying
(43:38):
to get access to that grantmoney and models so that we can
have EV chargers offered as anamenity at minimal to no cost at
the property setup.
Rachel Oh (43:44):
And that would involve solar or something,
wouldn't it?
Because wouldn't you have tohave some sort of alternate
energy source in order toprovide electricity and to
minimize costs for?
Jordan Egnew (43:54):
it.
Yeah, so on that one, it'sactually pulling from the grid
and then going into your car.
Rachel Oh (43:57):
Okay, what if we pulled from solar?
Jordan Egnew (44:00):
I haven't seen that.
On that, because usually theseare like the think of the ones
where you go to like the grocerystore and it's like a little
like stand.
Rachel Oh (44:06):
Yeah.
Jordan Egnew (44:08):
To charge your full car.
Yeah, that's more where I haveseen that piece, because you get
like the solar.
Rachel Oh (44:13):
to charge a car is quite a bit of energy it would
take, you know but if you couldcapture solar energy and not go
into the grid and have thatright, you could do that.
That's fair and I and you knowyou are saying what do I know?
Jordan Egnew (44:25):
no, no, and actually you are seeing, like
ikea, for example, or a weirdexample, they've installed, I
think, or are installingessentially, solar panels on all
of their stores around theworld, and the idea is that they
will utilize the energy createdby that first and then they'll
tap into the grid.
And then that's equaling savingsfor their operations side.
So I think we'll start seeingthat happen more and more and
(44:47):
potentially, I think maybe we'llstart seeing it in the real
estate side on our area and, bythe way, I have no interest,
like I have no economic,financial interest in solar
companies or anything.
Rachel Oh (44:56):
It just came to mind when you were saying you know
minimizing costs at the propertylevels.
Yeah.
And in some states electricityis expensive.
Yeah, Our primary Mountain Westregion is not so bad, but I
know California is expensive andI think Florida maybe I don't
remember, but yeah.
Jordan Egnew (45:12):
Okay, but offering the amenity of the EV charging
and then trying to not pay forit yourself, I think, is a good
strategy too.
So you don't have to come upwith it Because they're
expensive little units.
I think I saw that they're like$300,000, something to get like
one of them Is that much.
Yeah, oh Because it's likethere's a lot of like licensing
and not licensing, but permitsand regulation around it that
(45:33):
you have to pay for.
Rachel Oh (45:34):
So one of those things are $300,000?
.
Jordan Egnew (45:36):
They can be up to that much, yeah.
Rachel Oh (45:38):
But not the kinds that are in the homes, right,
that's different.
Jordan Egnew (45:41):
No, that one's different.
These are like yoursupercharger type stations.
Rachel Oh (45:44):
It charges your car in like 20 minutes or something.
Yeah, okay, yeah.
Okay, supercharged Okay, okay.
Jordan Egnew (45:52):
Yeah.
Well, okay, okay, well, andactually since you know, as
we're kind of winding this down,the other thing too is we do
have those car stackers, right,and that's technology enabled
right, because I know that youcan call your car quote guess,
(46:13):
type of thing, and that wasreally, I think that was needed
to make that project even move,like we had to go with that we
did because we didn't have theroom.
Rachel Oh (46:20):
Yeah, but the parking requirements.
So, for those of you whohaven't seen this, we have at
one of our properties a parkingsystem that's actually enabled
by technology.
Right?
You use your app, I think, tocall the car, so will you
describe that for everyone?
Jordan Egnew (46:35):
Yeah, essentially like you.
Let's say, you're in yourapartment, you're ready to go,
we'll start at that point.
You basically can call your carand schedule that.
Like just via an app, yep, viaan app, and let it know like
you're heading down to go grabyour vehicle.
It will, essentially.
And now your car is sitting ina big six story, seven story,
(46:57):
stacked on, stacked on, stacked.
I think it's like three carsdeep, seven cars tall.
Rachel Oh (47:01):
It's literally like a .
I've seen it.
It's like a vending machine.
Jordan Egnew (47:04):
It just kind of Tetris's your car, exactly, and
it takes your car let's say yourcar's all the way to the top,
it'll move it down, move it over, move it down again, and it
kind of moves its way down untilit gets to the point in which
it's delivered to you.
Rachel Oh (47:14):
And it just spits out right.
Jordan Egnew (47:17):
It pulls into like a car part that you then walk
in, get into your car and driveout, Wow.
And then it goes ahead andreorganizes and puts the car
back up and it's ready for thenext person.
Rachel Oh (47:30):
How long is that process?
From the time you call the carand to when you get?
Jordan Egnew (47:35):
in the car.
It depends on where your car islocated inside the parking
structure, but it does give you,like an estimated time on your
app to let you know like abouthow long you can expect.
So if your car you know, if youran in put your car in and you
ran inside your house and youneeded to come right back out to
grab it, it's not going to takenearly as long.
But, if you went and parkedyour car and you waited two
weeks it might take, you know.
Rachel Oh (47:55):
I don't know exactly how long, but I would say like
10, 15 minutes potentially foryou to get that car, which would
make sense that you call itwhen you're starting to leave,
and that'd be in the case wherethere's like multiple people who
have also like cued their carorder, but that'd be like your
worst case.
But it gives you a timeestimate.
Jordan Egnew (48:09):
Yeah, dude, I love that, I want and it's nice
because again you can buildthese nice assets in a highly
dense location.
Rachel Oh (48:16):
Yeah, where parking is tough.
By the way, when we built theparking garage at Paperbox it
was the largest covered parkingvending machine, if you will, in
the West.
Isn't that crazy?
Jordan Egnew (48:30):
That is really cool.
Rachel Oh (48:31):
In little old Salt Lake.
Jordan Egnew (48:32):
And I think when they announced it too, it was
one of the first ones here inUtah ever.
Rachel Oh (48:36):
Yeah, I think there was another group that had one
in theirs, but ours was thefirst freestanding Freestanding
and therefore the largest,because we were able to do much
larger than the other ones.
Jordan Egnew (48:47):
Well, you know, rachel, I think we talked about
a lot of different things today,A lot of these new emerging
technologies and a lot of thesereally exciting things, and I'm
I'm really excited for a lot ofthem.
I think what it will do andfacilitate for everyone is just
better lifestyle and like moreless drudgery and like the day
to day of like these tasks thatyou're like no, you're right.
Rachel Oh (49:08):
You're right, Simplifying things and, uh,
automation and being super smart.
I mean that's and dude, if Ican call my car from a phone,
that's pretty slick, I'm prettyexcited.
That's amazing.
That's awesome.
Jordan Egnew (49:22):
And I'm really excited to see where it all goes
.
And I think it could.
It's changing literally everyday.
There's a new companyannouncing some feature and a
new organization implementing AIinto their platform, and I
think that we're just really inthe beginning phases of seeing
where it all will go.
And while there are thosechallenges and initiatives, I
(49:42):
think that every good thingcomes with its challenges.
So we're going to see somegreat things.
Rachel Oh (49:46):
Awesome, Well, and and I don't have to worry about
it because you're protecting uswith all your cybersecurity
stuff so you know, I thinktechnology is one of those
things that we take for granted.
You know really truly, but Ilove hearing about the different
things that you're thinkingabout, things that keep you up
at night and the policies thatyou've implemented, and I pretty
much just don't open any emailsanymore unless I know who it's
(50:06):
from.
So you've taught me that,Perfect, You've taught me well,
and now I'll never answer thephone.
Jordan Egnew (50:11):
So no, you can have so much more time.
Rachel Oh (50:13):
Yes, yes, no, it's so good.
Okay.
Well, Jordan, thank you so muchfor joining our little humble
podcast today and for everyonethat's been listening.
We so appreciate you tuning in.
So, again, from the peaks ofthe Mountain West, we're so
grateful to have you all inJoining us for this week's
episode of Peaks and Portfoliosby PEG Companies.
And so until next time, thankseveryone.
Welcome to Peaks and Portfolios presented by PEG
Companies, your go-to podcastfor all things commercial real
estate investment.
I'm Rachel oh, and togetherwe're diving into current events
, trends, issues andopportunities impacting the CRE
investment space, fromdissecting the latest market
moves to sharing insights ontoday's commercial real estate
(00:25):
landscape.
It's time to maximizeportfolios here in the peaks of
the Mountain West and beyond.
Hello everybody, thank you forjoining us today.
It is.
I don't know what episode we'reon, but I will tell you.
When we first started this, Iwasn't sure how this would go,
and I am finding it to be ahighlight of my life, so I am so
(00:48):
excited for our guest today.
We're here, summer's juststarted, and just a reminder to
me of how beautiful the WasatchMountains are, so anyone
listening here who has neverbeen here, you've got to get out
here.
Now is the time.
So thank you everyone forjoining us for this week's
episode of Peaks and Portfoliosby Peg Companies.
We've been talking aboutdifferent things in real estate
(01:08):
investment.
We started off with the Fedfunds, rate.
We've been talking aboutarchitecture.
We've talked about, like, howto JV with folks.
We've talked about bank debt.
We've covered a lot ofdifferent investment topics that
I think are super interestingfor the investor.
I think sometimes, however, weforget sort of the nuts and
(01:31):
bolts of what we do.
We haven't necessarily talkedabout construction I think we'll
do that in a future episode buttoday we really wanted to
highlight property technology,or just technology in general
that supports real estate, bothfrom the investment perspective
as well as at the propertylevels, and you know, we read in
the news these days I mean, aiis a big thing.
Turns out AI is also somethingthat we see in real estate
(01:53):
investment.
So, with everything in you knowthat I just discussed, and with
all these different factors inmind, we wanted to hear from an
expert, a true expert that dealswith this all the time, and so
I am delighted to have as ourguest today Jordan E Agnew, who
is my good friend and colleague.
He is the director of IT forPeg Companies and we are so
(02:15):
grateful that you're able tocarve time out of your busy
schedule to join us today.
Jordan, thank you so much forcoming.
Welcome.
Thanks, rachel.
I appreciate it.
I'm happy to be here.
So have you been listening tomy episodes?
I listened to the first one Idid.
Jordan Egnew (02:27):
I also really like your guys' intro.
It's pretty fun.
Rachel Oh (02:30):
Yeah, well, that is.
I mean, we have a greatproduction team.
So, yeah, no, it's been greatand our listenership has been
climbing.
Jordan Egnew (02:46):
So we're getting some folks from across the world
apparently, so it's actuallyexciting.
So, jordan, you've been here.
Now how many years I am comingup?
Rachel Oh (02:50):
on my eighth year.
Oh my gosh, wow, jordan.
I've been here now six years.
When I first started, you'vealways been so helpful,
knowledgeable.
I have watched you grow in yourcareer.
I have also watched Peg growand it's insane today.
So just a little bit aboutJordan.
Jordan has been in IT now for13 years across several
different industries.
He has a background ininformation systems and, like I
(03:12):
said, when I first joined here,I think we were 80 strong and
now we are 1100 PEG employeesacross the nation into Canada,
and you basically overseeanything IT related for our $2
billion plus portfolio ofcommercial listed assets.
Am I right.
Jordan Egnew (03:28):
Yeah, it's been a fun ride and a difficult ride at
different times and it's beenexciting to see the growth that
PEG has been able to go throughand the challenges that have
been faced because of the growthand also, just as time has gone
on, with emerging technologiesand changes in the landscape.
Rachel Oh (03:42):
Yeah, I think back to the pandemic.
Yeah.
I mean before that we were allbutts in seats in the office and
, for that good, what year-ishor so I mean.
Granted, we didn't close downlike a lot of groups did, but we
had a lot of people workingremote with their families and
et cetera, and you had tonavigate that whole process,
like I think back just to that.
Jordan Egnew (04:02):
That was crazy.
That was a challenge in and ofitself.
Like to go from hey, everyone'shere every day to we are no
longer expected to be here.
Rachel Oh (04:10):
Yeah, yeah, everyone's on teams Amazing,
okay.
So you know, one of the reasons, like I said, we want to invite
you is because real estate isso dependent on many things to
make it, you know, for theinvestment dollars to make sense
, but also the technologysupports all of that.
I mean, I look at theinvestment team and all the
different platforms that theyuse, right down to the property
(04:30):
level.
So what we wanted to do is wewanted to bring you in and pick
your brain and better understandthat, especially for our
listeners.
So I'm going to just go superback to basic.
What do you do all day long?
I know that you do these likephishing attempts and phishing
with a PH, by the way, where youkind of see if I'm going to
click on an email and like, ohyou know, you got to take your
(04:51):
IT review course once again.
But what does an ITprofessional do in a real estate
firm such as ours, as big as itis and the different types of
properties that we support?
Jordan Egnew (04:59):
Yeah, you know it's evolved over time.
For sure.
I feel like when I firststarted, the first thing that I
kind of worked on and did wasfocus on the help desk.
You know, just basic, hey, howdo we get computers and email
systems and accounts and thingslike that.
And it quickly evolved intocybersecurity, like okay, how do
we lock down our environmentand protect our information.
But, as you know, we've grownand progressed.
(05:21):
I've had to learn propertymanagement um of PPG and uh for
our multifamily and then alsofor our hospital, which is PEG
property group.
PEG property group.
And then for PEG hospitalitygroup, um, I've also had to?
Um, learn about the hospitalityside, like what do you guests
and tenants want?
What type of technology isimportant to them?
Um, and making sure that wemeet those needs.
(05:42):
And then also, how do we scaleand support all of our general
managers and property managers?
And so it went from very much,you know, service-oriented, just
helping people get access totheir computers, troubleshooting
, to being much more involved indesign strategy, consolidation
of vendors, selecting ofplatforms, integrations into
various platforms, so we makesure we have our data all in the
(06:04):
right place.
So my day-to-day is spent, youknow, managing the help desk
team, making sure that peopleare still able to work, access
their accounts, all the way tomeeting with our property
management teams to make surethat we're putting the right
camera systems in, that we'releveraging the correct smart
home amenities that we're doingthe right low voltage design
with the construction teams, andso it's grown to be all
(06:26):
encompassing of what PEG I thinkaspires to be that vertical
integration moving IT intohelping out all the different
groups and all the differentareas where IT kind of touches.
Rachel Oh (06:36):
So Cameron has often talked about and encouraged and
challenged the teams to leveragetechnology, to incorporate
technology in everything we do.
The teams to leveragetechnology, to incorporate
technology in everything we do.
It maximizes at the investmentlevel but also at the property
levels for to help us to be moreefficient.
And I'm just curious how thatmandate has sort of spurred you
know what you think about andhow you approach technology at
(06:59):
PEG C companies.
Jordan Egnew (07:00):
I think the area that as we grew and we were
different companies, there was alot of silos, a lot of
different platforms that peoplehad, and that was a struggle
because people were used tothese different platforms from
our hospitality management, peghospitality and from our PEG
property group and you know itworks when they are independent
and separate.
One of the biggest things thatwe had to focus on is really
(07:26):
bringing in those platforms andstandardizing them so that we
can get efficiencies andcommonalities and common data
sources so that we can start toleverage that data and be able
to make decisions in real time,understand the cashflow at our
properties, understand, like,what our occupancy rates are all
those types of things in realtime.
And that's been one of thebiggest areas I think we are
starting to realize and we'vegotten to is the merging of all
(07:48):
those platforms, and I thinkwe're getting to the point where
we're starting to be able tocreate dashboards and live
reports and make decisions inreal time based on what's
happening today.
Rachel Oh (07:58):
Yeah, yeah, no, that makes sense.
I think dashboards are superhelpful and I know that we use
it in our own, you know, kind ofour investor services areas and
all that.
So, okay, so technology isobviously like when I first
started.
I think there was just a coupleof you and now the team is, I
don't know 10 strong.
How many do you have?
Now we have six, okay.
Jordan Egnew (08:20):
We act like there's 10 of us.
That's how much work we getdone.
I just see all of you, we actlike there's 10 of us.
Rachel Oh (08:24):
That's how much work we get done.
I just see all of you.
So okay.
So you're, you know you guysare you support, obviously, the
1,100 employees, but then youare supporting our tenants at
the different properties, You'resupporting our guests.
Tell me about like sort of howthat then has evolved.
As you know, you're addressingour employees' needs, but then
you're also addressing the endusers.
(08:44):
Like, tell me how that works.
Jordan Egnew (08:47):
Some of the specific items you know when I
first started helping out thehotels, like mobile key.
Like a lot of our hotels,didn't have mobile key, so
essentially mobile keys, whenyou go to the hotel you're able
to use the app that Marriott,hilton or Hyatt has.
And then you can get your keyand go up to the door and get in
.
I do it all the time.
Yeah, it's one of those thingsthat, like our portfolio, a lot
of our hotels didn't have it,and so identifying which ones
(09:08):
didn't have it and then pushingto make sure that we get those
types of things at the hotelsfor our guests and for the
experience there, and that'sjust like one example.
Rachel Oh (09:18):
By the way, we take all this for granted, I think.
I just think that someone justpresses a button and it just
happens, but it's probably notthat easy, am I right?
Jordan Egnew (09:24):
No, it takes a lot of upgrades and coordination
with many different vendors andthe property communication to
your guests and or tenants,depending on which asset you are
in and it takes a lot and it'sdefinitely a team effort across
(09:48):
many different groups.
But it is nice and I enjoy thataspect of my job.
A lot is how I think about.
How does my technology andinitiatives impact the guest
experience and, like the personliving in our multifamily assets
, like, what would I want if Ilived here?
What do I benefit from?
And then knowing that, oh,people get to go recreate and
have a good time and they canjust bypass the front desk.
There's a long line, a simplething, yeah.
Or ensuring that you know wehave working business centers
(10:12):
and things like that all the waydown to those, hey, you don't
need to print things often, butwhen you do, sometimes, it's
traveling, you got to make sureit works.
Yeah.
And it's been a it's been a funexperience yeah.
Rachel Oh (10:25):
So experience, yeah, so, okay, you know, I know we
have our 702 main, which is oneof our newer uh apartment
buildings in downtown Salt Lakecity, and what I one of my
favorite features when we take atour around that is, uh, you
know, tenants can just buy, justgoing to the little store pick
up something and just walk outRight Like they don't have to do
anything.
Am I right?
Jordan Egnew (10:41):
Yeah, no, it's in a great amenity to have.
So describe it yeah whatRachel's referring to
essentially is we've partneredwith a group that essentially
comes in and they will offer akiosk and all the different food
like drinks, snacks, even up tosandwiches and different things
like that, depending on thesize of your property.
But you can basically get whatyou need, check out and walk out
(11:03):
and it's open 24 seven.
It's available to the residentsthat are there Um and it's just
really convenient and easy forthem to access and I do feel
like um, based on like what I'vetalked with our property
manager team, that has been verybeneficial um as an amenity to
offer to people, cause they'relike, oh, I see myself using
that Um and it's something theywant and it's not like there's a
low level of theft, or how doesthat work?
(11:24):
yeah, so it's actually managedby like a third party and they
take on that reliability.
They do have some requirementsfor you as the the management
company and having like a doorthat has fob access and things
like that, okay, but they takeon a lot of that, those items,
and they have like cameras inthere.
Um, so when you walk in you'rebeing recorded by that, that
vendor, and things like that,and so if you do, do, don't you
dare steal that cup of noodlesor you're going to get fined.
(11:46):
Exactly, they'll, they'll,they'll.
Uh, attach it in some way.
They'll the.
The vendor reaches out and letsthe property know.
Rachel Oh (11:52):
Okay, so technology in a in a sense like that is is
pretty obvious.
So I get it's really cool, it'sreally slick.
It reminds me of kind of likethe Amazon grab and go.
Yeah, what about some, sometechnology that may not be so
apparent but has been, you think, quite instrumental in, you
know, creating efficiencies foreither the hotel guest or, you
know, the tenant at one of ourproperties?
Jordan Egnew (12:14):
One of the ones that's been really nice is we
implemented as a company asystem called Yardi is basically
like our property managementsoftware with a lot of our most
of our multifamily assets, andwhat is nice about this is as a
tenant comes and gets onboardedor moves into the property,
we've been able to connect manydifferent systems and selecting
(12:35):
with our vendors from, like, ourdoor access control to our door
entry system, your voice box atthe front, your call box and
all the way to your parking, andyou basically fill out these
forms and all this informationand day one you're able to walk
into your unit.
You're able to have an emailthat gives you your key app
access to your room.
You walk in, you have internetaccess already set up for you
(12:58):
and configured and you haveaccess to it Just day one you
walk in the door.
Everything is there and youhave access to it.
Just day one you walk in thedoor.
Everything is there your dooraccess, your amenities access
your parking, along with yourinternet access and your cable,
and that's been really efficient, because then residents don't
have to take a week to get thethings that they need.
Rachel Oh (13:16):
Yeah, that's amazing.
I don't think I realized.
I mean, we obviously track ourinvestors' investments through
RDA.
I didn't realize that it wasall the way down to the property
level.
That's very slick.
Okay, okay, very cool, okay.
So we've got interestingtechnologies like that.
Tell me, then, what else likekeeps you up at night, like what
?
What does your team focus on?
(13:36):
I know it's not justimplementing technologies that
make life more efficient.
I imagine there's a lot moreserious type things, and I'm
thinking like cybersecurity andfraud and all those things.
Tell me a little bit about that.
Jordan Egnew (13:51):
Yeah, some of the things that we've been seeing at
our sites, it's been changing alot, to be honest, in 2020, the
things that we're facing now in2024 are completely things that
I did not really even run into.
So tell me, what are we talking?
Yeah, some of those items wouldbe very sophisticated and
(14:11):
targeted like fraud where theyhave information.
For example, our hotels haveseen a huge rise in just
telephone fraud, which has beensurprising, like you wouldn't
think that'd be a normal waythat someone would get in.
Rachel Oh (14:23):
What is?
Jordan Egnew (14:23):
telephone fraud yeah they just call the front
desk at different timesthroughout the day and a lot of
times they're targeting whenthey know that management has
left, so usually post fiveo'clock.
Okay, they call the propertyand even sometimes your night
auditor, where they're the oneperson on property.
They call them and they createa sense of urgency around some
type of thing.
Hey, we're going to turn offyour power.
(14:46):
Hey, we're going to do thisbecause you didn't pay a bill
and if you don't get that done,then you're going to not have
power essentially.
Or you know, we're doing somesystem updates and testing and
we need to make sure that yourpayment processing is working
correctly.
And you know, and those havegotten.
We've never had any instance sofar in our portfolio where
we've run into loss, but we'vegotten to a point where
(15:07):
employees have gotten close tothat and, without proper
education and training, stoppingthat, where they don't follow
through with that action, and itis a little scary just the rise
and the amount that you'regetting At the hotels you have.
You know, a lot of youngerpeople who are first time jobs
(15:28):
and making sure that they areeducated and aware of these
things, because they just wantto do what they think is right.
And they're like oh, IT'scalling me, Hyatt, IT's calling
me, I need to make sure I getthem into my system and they can
check this.
But in reality it's all just aruse to get them into your
system, to have them basicallytake action against you.
Rachel Oh (15:45):
So crazy so they'll just call someone unsuspecting.
They're trying to do a good job, so like, oh my gosh, I need to
be responsive.
And then who knows what happens.
Jordan Egnew (15:53):
Okay, and the thing is, they also have very
specific information, likeintimate knowledge, so they seem
like they are legit.
They sound like they're fromMarriott, they've got like an
employee ID and they know like aname and they're just usually
spoofing an employee that's inIT, that's really employed with
them, and they pretend to bethem and they have working
knowledge of the systems andit's a little different than
(16:14):
what we used to have.
Rachel Oh (16:15):
So what are we talking then?
Like I mean, are they wiringmonies to these people?
Like, what kind of things arethey actually able to?
Jordan Egnew (16:22):
Yeah, one of the things that they try to attempt
to do is a penny test so they'llget into the property
management system, or they'llattempt to get you to get them
into the property managementsystem and have you do a penny
test.
But what happens is they kindof the way they're talking to
you in urgency, they usuallyencourage you to add, like an
accidentally add an extra zeroor a couple zeros, and you think
you're just doing like a onepenny test, the way that they
(16:44):
like explain it.
You think, oh, I'm just doingone penny.
In reality, they're trying todo like $10,000 to $1,000
transactions at a time and theyusually try to get you to do
that multiple times.
Wow, wow.
And people fall for this.
Yeah, it's been falling, I meaneven so, much so that now in
the past month, all of theproperty management systems,
when you get into, like Hyatt,and you log into your PMS every
(17:06):
single day, there's a big redbox that says Hyatt, it will
never call you to ask you toperform any payment processing
items.
So, like the brands are takingit very seriously PEG, we're
trying to take it seriously,where we send out monthly emails
just reminding people about thereality of this and that IT is
never going to do that.
We employ Ninjio cybersecuritytraining program and we rolled
(17:27):
that going to do that.
We employ Ninjio, acybersecurity training program
and we rolled that out to allassociates and it's a monthly
video that's three minutes longand they just goes over some
cybersecurity and keeps it attop of mind, because that's
usually how you can best defendthese things.
It's always a cat and mousegame.
They're always going to figureout a new way to get in.
And so just keeping it top ofmind and educating.
(17:48):
So you're staying on top ofthat and you're critically
thinking about is thispotentially someone trying to
get me to do something Ishouldn't do?
Rachel Oh (17:54):
Yeah, Well, it sounds like to me number one thing
don't answer the phone, I'msorry, no you got to answer the
phone but, like to your point,they will never reach out via
phone.
So then, how?
I mean, obviously these brandsand banks and things have to
communicate with the properties.
How do you train or what arethe?
(18:14):
I mean, what are the thingsthat you train, uh, these folks
to be aware of?
And I imagine I can glean a lotof that too, because my bank
also, when I log in, says wewill never call you for
information, like you literallyhave to log into the site or you
have to call this number, likewe'll never reach out, right.
Jordan Egnew (18:31):
Yeah, so what?
Yeah, and that's usually whatit is.
It's creating proper channelsin which to verify things, and
so usually it has to be a secureplace, right?
It's a place that you'relogging into, usually behind,
like a multi-factorauthentication or something like
that and it's going to alertyou or let you know that
something's going to happen.
Rachel Oh (18:47):
Oh yes, the multi-factor authentication In
advance.
Exactly, I'm very well awarethat you put it on everything I
do, but okay, okay.
Jordan Egnew (18:53):
Exactly, I know, it makes life so much harder.
Rachel Oh (18:55):
I get it, but that's why right, exactly so it's to
protect Okay.
Jordan Egnew (19:10):
So you know that what you're going to get that
information and making sure toverify via those channels is the
way to eliminate those things.
So if anything ever comes froma channel you're not used to or
is from as in text, call arandom email, you want to make
sure that you verify it througha secure and verified way, that
you know that other person isgoing to reach out to you a
predefined path and that canvary upon different organization
(19:31):
and group, but that's animportant thing to always make
sure that you think about isokay.
How am I normally engaging?
and finding this information.
Rachel Oh (19:40):
Okay, so I could see that being an area of concern.
What other things keep you upat night?
Jordan Egnew (19:46):
Yeah, I mean with AI, and I think a lot of this
has been fueled by AI.
Ai is a wonderful tool.
Rachel Oh (19:53):
Ai is everywhere.
It is, it's everywhere and it'sdown to this level too.
Jordan Egnew (19:57):
It sounds like, yeah, I mean you have to think
if the billion dollar industriesand multinational companies are
utilizing it.
You know the other groups thatare bad actors across the world
are also leveraging these sametools and developing ways to
utilize it.
Rachel Oh (20:12):
So you're saying fraudulent, active and all that
is also leveraging AI.
Yep, wow, they're so smart,okay so now.
Jordan Egnew (20:18):
I mean, you can be someone who does not speak
English or even has an accent oranything like that, and you can
essentially sound just likeanyone else you want to sound
like and hide your real identity, and you can use vocabulary and
things like that that youwouldn't normally know because
(20:39):
you hadn't necessarily studiedEnglish to the depth that many
people know it, and you canoften the areas in the old adage
where you know look forspelling errors in your phishing
emails or look for weirdformatting or when you're
talking to someone if they'renot able to communicate very
well, or things like that.
Maybe that's a sign that maybeyou're not talking to the source
that you think you're talkingto, but with the advent of AI
(21:02):
and the tools that are leveraged, that's gone.
Rachel Oh (21:04):
That's all gone.
So then, how do you?
I mean so the old techniques orskills, or you know?
Cues that you could go off ofare no longer valid.
So then, what I mean?
What?
What's left?
Jordan Egnew (21:17):
Yeah, the next, the phase there then you have to
do is you implement just higherverification processes.
So I know that PEG has like aanytime, like wiring of money is
going to happen.
We've instituted a phone callto a predefined contact that we
know and have validated inadvance of the wire and we
validate with them.
(21:37):
And the reason that we do thatis because you can't necessarily
always trust a team, an emailcoming in from somebody
verifying things, or if there'slast minute changes, we're
always going to verify.
Anytime any wiring instructionschange, Anytime there's any
changes, we have to verify withone of those predefined channels
that we have.
And even that area we'relooking to even change
(22:01):
potentially here at PEG isbecause you can even start
leveraging.
I mean, this is a little, it'sa little scary here, but like
there's SIM hacking wheresomeone can essentially I'm
sorry what SIM hacking on yourphone, SIM hacking.
Yeah, so every phone has a SIMcard.
It's the thing that communicatesback to your provider and gives
you your service.
In some instances, there hasbeen a rise in bad actors being
(22:24):
able to copy your SIM throughnotorious methods, as in
contacting T-Mobile andpretending to be you, or your
T-Mobile account is not secure,and they get into your T-Mobile
and they order an extra SIM card.
They get a SIM card deliveredto wherever they are.
They put it in their phone.
They essentially are receivingthe same text messages and calls
that you are getting, and nowthey know when you're getting a
call from someone to verify awire transfer, they can pick up
(22:48):
and they intercept your calls oryour text messages.
And so that becomes worrisomebecause now it's like okay, can
we trust our phones?
Like, what do we do next?
Right.
And so some of the new adages orthings that are coming out
around this are having like acode word, essentially with your
bank.
That's like your banks, right.
(23:08):
They say, hey, when you call in, what is your passphrase?
Yeah, yeah, yeah.
And you're like blah, blah,blah, blah.
I love lemonade, or somethinglike that.
It's because it's a rant.
Now, I know yours, I know I'mjust kidding, be careful, but
you got to be careful because Ipassphrase that you and that
(23:30):
person know.
So, it verifies you.
And that's somewhat the levelthat we're heading to, because
AI not only can it now do verygood written explanations, but
there's also tools to now dovoice, where in real time, I
could be speaking to you, rachel, and I, rachel, and if you
spoke Korean or something likethat, I could just be talking to
(23:54):
you in Korean and you'd have noidea that I'm just speaking
English into an AI translatorthat's spitting back out a voice
that is Korean.
Rachel Oh (24:01):
Oh my gosh, that's like a scary world.
Jordan Egnew (24:03):
In real time.
Rachel Oh (24:04):
I feel like I don't even know what's real or what
isn't real is what you're saying.
Jordan Egnew (24:09):
And it's getting more difficult.
There are tools, and there'slots of, you know, agencies and
defenses being enacted byplatforms that scan, for example
, like social media, when peopleupload a video that's been
altered by an AI tool, there areways in which they can look at
the metadata or the informationthat's tied to that video and
look for changes andmanipulation.
Rachel Oh (24:29):
What if AI gets so smart that they can mimic?
You know, I mean.
Jordan Egnew (24:33):
Yeah, I know I mean then you just hope that
we're keeping up on our tools tobe able to discover it.
Rachel Oh (24:36):
I feel like we're going to go back to some sort of
weird analog world.
Jordan Egnew (24:40):
I don't know where that's heading.
Rachel Oh (24:42):
You just can't tap into the phone line.
Jordan Egnew (24:45):
I think one of the big areas is biometrics.
You're seeing a lot of likebiometric type things, like your
phone with face ID is kind ofthe beginning of one of those
things, right?
Rachel Oh (24:53):
Well, they do thing at the airports, right.
Jordan Egnew (24:55):
Yep Now when you go to the airport and then you
scan your driver's license there.
I think that's kind of wherewe'll be heading, is where
you'll have to do biometrics.
I'm even seeing it integratedinto, like DocuSign and
Salesforce, where you can useyour thumbprint to essentially
sign in to those platforms toaccess information.
So you're seeing enterpriselevel big organizations starting
this.
Rachel Oh (25:15):
I feel like I need to invest in some biometrics now.
Jordan Egnew (25:16):
Yeah, and the reality is we're moving away
from a password, moving to apasswordless future, essentially
.
Rachel Oh (25:21):
Thank goodness, my passwords I don't.
I'd much rather touch somethingthan have to remember my
password, so I'm actually okaywith that.
Jordan Egnew (25:30):
So it might be nice for you not to remember the
1,300 passwords you have acrossall your different platforms.
You can just use your face.
That would be nice.
Rachel Oh (25:37):
No, I love that.
I wish I could open my doorwith my face, but maybe we'll
get there.
Okay, so we've talked aboutmitigating the risks associated
with AI, more specificallyaround cybersecurity and things
of that nature.
At the property level, what arethe good things about AI that
we're able to leverage and howare you doing that with?
Maybe even the prop tech?
(25:57):
I mean, I don't know, but, likeyou know, at the PEG level,
with our investments.
So the investment team, realestate development team, the
construction team, down to ourtenants that are just living
like, or you know, at a hotel.
What are the good things aboutAI that we're able to?
Jordan Egnew (26:15):
leverage you know some of the areas that we're
trying to leverage or look at.
Ai is like on a lot of ourwebsites.
We'll have a chat bot where itinteracts with our property
management software, yardy,where it understands, like what
policies and generalavailability that units have,
and it can actually communicateas people ask questions like
what units does this place haveavailable?
And it can actually communicateas people ask questions like
(26:36):
what units does this place haveavailable?
And it will actually be able tocheck and let them know in real
time what's available via achat.
If they don't necessarily wantto like navigate through the
entire website, you can also askit just various questions about
the property and it can kind ofhighlight things.
Those items are kind of in ourbeginning stage, I believe, and
I feel like over time futuremodifications and improvements
(27:00):
will be added to this to reallyfacilitate a leasing experience
that would be virtual.
Rachel Oh (27:06):
Yeah, you keep mentioning that, so explain that
to me.
You're saying there won't belike this cheerful leasing agent
that's going to greet me.
I'm going to come and I scanwhat.
I scan a QR code, I get accessand they'll just something, will
walk me through or tell me howthat works.
Jordan Egnew (27:21):
Yeah, some of the areas that I'm seeing that
groups are exploring.
It's not necessarily that theydon't have a leasing agent per
se, but you don't depend on aleasing agent, you don't always
depend upon that person Ifthey're on like a tour or it's
after hours per se.
You can have a location or likea kiosk that's in an open
location that potential peoplecould walk in on like a Saturday
evening later on when youroffice is technically closed and
(27:43):
they can see your availability,and they would be able to
essentially do a completevirtual tour via this kiosk and
interact with this kiosk and askquestions like what are the
fees, what are your policieshere?
And it's able to all checkthose in real time and
communicate those to you viawritten text or even audio back
to you.
Rachel Oh (28:03):
So this is all just via chat.
You're just sitting at home andyou're able to do it.
This is if you came into theproperty.
Jordan Egnew (28:09):
Oh, you come into the property, yeah, and it'd be
like a kiosk or type ofinterface that you can actually
interact with via voice and talkto.
Rachel Oh (28:16):
Can you walk around the property too?
Jordan Egnew (28:18):
So some of the groups are exploring that that
one has some additional layersof security problems, so on that
one.
They would have to take apre-verification where they've
submitted their driver's licensevia secure portal.
You know who they are and thenthose people can get essentially
an invitation if they're notable to come, like during normal
operating hours, or maybe theydon't feel comfortable always
(28:39):
interacting with the propertystaff.
Some people just enjoy doingtheir own thing and figuring
things out themselves, and so tohelp connect with those people,
you could present upessentially a virtual meeting.
You've authenticated who theyare, they can come in and via an
(29:00):
app, they would get temporaryaccess to be able to come into
the property and go tour a unitwithout necessarily always
interacting with the leasingagent.
Of course, the leasing agent'salways going to get information,
they're going to follow up,they're going to make that human
connection with that individualand ensure that they feel
welcome.
But it really helps with thosepeople who may not always want
to go that route.
Yeah, yeah, yeah.
And it kind of extends yourbusiness hours too.
Rachel Oh (29:21):
Yeah, no, I could see that being highly beneficial
because, again, you know, laboris always a big thing just
across the board and being ableto maximize after hours and not
having to employ additionalfolks and offering that and ease
of convenience for our tenantsand whatnot.
Jordan Egnew (29:40):
One area we're like a little bit not exactly
doing this, but in a slight wayis our Avia residencies.
We've actually, their hours area bit reduced, they're our
hotel, they're more of anextended stay type hotel asset
and their hours, I believe, arefrom eight to eight.
So what that means is there'speople usually checking in,
sometimes after eight o'clock,right.
(30:01):
So we've been able to set up aprocess in which the office can
close at eight o'clock but, viasmart technology and different
integrations with differenttools, those guests are able to
actually come to the propertyafter hours, access and get
their keys, the property map,the information that they need
and go directly to their roomwithout having to have a front
(30:22):
desk person necessarily there.
And this isn't like a hotelthat's linked with a major brand
like Marriott, hilton.
This is something that PEG haskind of created ourselves and a
process in which we've createdbased on a need in an asset
category.
Rachel Oh (30:35):
Yeah, yeah, I know, I know that in our meetings a lot
of times you talk about proptech, property technologies.
Tell me a little bit about that, because I feel like you talk
about that a lot yeah.
Jordan Egnew (30:47):
One of the recent areas that I've been more
involved with I'd say in thepast year and a half two years
at PEG is I started to learn ourdevelopment construction
process.
I just found that we weren'talways standardizing some of our
vendors and platforms and Ireally wanted to get involved
and understand.
What can I do from a technologyperspective to try to
standardize our not only ouremployees experience and how
(31:11):
they interact with the tenantsand the tools that they have,
but also how do I make sure thatour tenants are getting items
that they want?
and that they work the way thatthey're intended to work and
we're getting all the featuresthat we paid for essentially,
and so some of that.
Rachel Oh (31:26):
So like explain, like what do you mean?
Jordan Egnew (31:27):
Some of those, items are, like your smart home
technology, that are inside ofyour apartments Okay, from your
door all the way to yourthermostat smart lights, to
being able to walk around theproperty and have property Wi-Fi
, where you're actuallyconnected to your personal
network, all the way back inyour unit.
And you can interact with yoursmart devices even though you're
(31:51):
at the pool, and so, basically,they've been able to create
these networks at hotels andmultifamily assets that, no
matter where you go on theproperty, you're still
technically connected to yourhome network, which really helps
you as you want to interactwith your IOT or your smart
devices back at your apartmentin real time.
Rachel Oh (32:14):
So that's, they probably hadn't contemplated
that in the beginning, butthat's something that's morphed
over time.
Is what you're saying?
Jordan Egnew (32:18):
Yeah, and that's been definitely since the since,
like the pandemic, everyonewent home and people were just
there all the time.
A lot of things, yeah.
Rachel Oh (32:28):
I'm not one of those, by the way.
I literally leave my home inthe morning and I'm either at
work or out and about.
Leave my home in the morningand I'm either at work or out
and about, and I do not comehome until it's dark.
Jordan Egnew (32:36):
So I am not one of those people yeah, and I I
think there's I think it's twopeople in two different camps.
Usually I'm the same way.
I don't love.
I like to be outside my house alot of the time, right, I like
coming to the office and seeingpeople, but there's so many
individuals and people that haveneeds for that and they, they
want to be at home and they justenjoy being in that location,
and I think the reality is islike a lot of people and that
(32:59):
kind of leads me into like someof the amenities I guess you can
offer with the smart home orprop tech.
One of the other things thatwe've seen technology-wise is
like your fitness room, makingsure you're getting like Fight
Camp, which is like a I'm sorry,what camp yeah?
So Fight Camp is like.
Rachel Oh (33:13):
I've heard of Fight Club, fight Club, but this is
Fight Camp.
We don't talk about Fight Club.
We don't talk about Fight Club,just kidding.
Fight Camp, fight Camp.
Jordan Egnew (33:20):
Yeah, it's basically think of Peloton and
like an online personal coachthat walks you through running,
biking, whatever it is.
It's specifically to likeboxing and it gamifies and makes
it competitive with a bunch ofpeople to do boxing.
So you have like these mitts onthat have sensors and then you
have a boxing pad that hassensors and it knows where
(33:42):
you're hitting it, how hardyou're hitting it Really.
Rachel Oh (33:44):
Yeah, we have this at our multifamily.
Jordan Egnew (33:48):
We haven't implemented it yet but we are
looking at that.
We've implemented some otherones, like Peloton, echelon,
yoga Mirrors, but those are thetypes of things people are
looking for because there areexpensive items like right and
people don't necessarily havethe funds to always go out and
purchase those.
But when you add these featuresinto, like your gym, even if
you don't have a lot of space,and you put these types of
(34:08):
high-end, high-value items,people are like, oh, like that's
some value for me.
Rachel Oh (34:13):
It adds value to their experience, their living
experience.
Jordan Egnew (34:16):
It's not just a treadmill and a regular bike
right, yeah, yeah yeah, they'relike.
Oh, even whether they use it ornot, it invokes a stronger
emotional connection and wantand desire to live in a place
that has those types of thingsInteresting.
Rachel Oh (34:29):
You should get, we should get robots.
I don't know if robots aretechnology, but how about robots
that give massages, that we?
Jordan Egnew (34:35):
should get robots.
I don't know if robots aretechnology, but how about robots
that give massages?
That would be nice.
We have implemented at some ofours in the health and wellness,
because that's been anotherhuge area.
Not that this is like necessarytechnology, but those water
massage chairs oh, yes, yes, yes, yes, I've seen those and those
are super nice.
Those are amazing.
Yeah, yeah, yeah.
Rachel Oh (34:57):
No, I did try one once and it was amazing.
Jordan Egnew (34:58):
Okay, so that's what you mean by prop tech, then
, like, how about something evenas boring as like laundry?
Rachel Oh (35:01):
Yeah, we usually have in-unit laundry but like some
of the areas that we've done,we're nice, we give people in
laundry, exactly.
Jordan Egnew (35:05):
But some of our assets don't like our Avia brand
.
Rachel Oh (35:08):
Oh, yes, a lot of them.
The former hotels.
Jordan Egnew (35:10):
Yeah, the former hotels, a lot of those.
The renovation didn't have roomto necessarily add in that type
of equipment into each unit,but what they did is they
created laundry rooms, obviously, but they removed um, like the
cash, it's all like qr based.
It's app.
So you walk in, you select what, you scan a qr code, you select
which dryer washer you're usingand you can just pay digitally.
(35:31):
Nice, and it also will let youknow when things are done and
and updates you okay, yeah, soyou don't have to like sit there
if you know you feelcomfortable at that.
Rachel Oh (35:39):
but so I imagine then in the in-unit ones, aren't
those also wireless, or do theyhave any Wi-Fi technology that
they could?
They could, I don't operatethem.
Jordan Egnew (35:48):
We could.
I don't believe any of oursthat we have explored, but
that's actually a really goodpoint.
Um, there are a lot of washersand dryers that do have.
They're, uh, connected to iotwhich is iot is just internet of
things.
It's just any device that kindof connects to the network and
has some type of um interactionwith it.
That could be a, a fridge, atoaster, whatever.
Everything is iot nowadaysreally, if you want to find it,
(36:10):
you'll buy it.
Rachel Oh (36:10):
You bring up a really good point for because I am my
own IT manager at my house right.
I am my own chef, I am my ownhouse, like I am everything.
What's nice is, if you'rerenting and you're renting with
a group, you know, that hasthose kinds of things, that's
actually a huge advantage,because then you are my IT
person, I don't have to do itall.
Jordan Egnew (36:28):
Exactly, and someone's designing that
infrastructure for you andhaving those items for you and
you don't have to manage it.
Rachel Oh (36:35):
So it sounds like, in addition to cybersecurity and
the advent of AI and how tomitigate those risks, you are
also concerned about the actualproperty level experience, the
tenants making sure they're ableto leverage the most available,
the best available technologies.
It sounds like in the livingexperience.
(36:56):
Yeah.
Jordan Egnew (36:57):
And another one of those areas I felt to mention
is like our package lockers.
Even Just partnering with likeAmazon and having like smart
package lockers where Amazon cancome put things in a secure
location that tenants can accessand also return items directly
back to Amazon.
It's just like one of thosereally great features you don't
always think about but as youmarket it and advertise it and
(37:17):
show it to prospective tenants,they really enjoy that and there
is a value added to theirexperience.
Rachel Oh (37:24):
I think that's so interesting.
Again, when we first talkedabout this, I think we started
off with data and whatnot, andwhat you touch and the decisions
that you make and thestrategies that you implement
are so far reaching right.
Not just for someone like myexperience.
But again down to the hotelguest who is able to, you know,
(37:48):
use a key card to get in and noteven have to interact with the
front desk, Cause I come intoproperties sometimes at like two
in the morning and I just go tomy, I mean that's awesome.
And then you know, down to um,the tenant at one of our
properties that can get avirtual tour or, you know, just
be able to walk into their homeand turn on the lights and have
it already done, and that'samazing when it's almost
(38:10):
becoming an expectation ofpeople.
I think, and when you don't haveit, it's then I'll become,
become subpar.
Jordan Egnew (38:15):
Yeah, it was like frustration built up.
Rachel Oh (38:22):
Yeah, no, I like that .
Okay, so we've been talkingabout some of the things that
are available.
Now Tell me some of the thingsthat are coming.
Like, what does the future looklike?
I was joking about robots doingmassages.
Know, what is this brave newworld going to look like?
Like, what are we talking aboutin terms of, uh, things that
you're seeing that are futurestate but are likely to come?
Jordan Egnew (38:45):
yeah, and and I want you to blow my mind like,
tell me, like what are somecrazy things that are going to
happen, stuff yeah, like I meanjust stuff that you've seen,
like yeah um, obviously some ofthis will be just like me,
speculating about potentialthings based on what I know.
So, whether it happens or comesto fruition, full well, time
will tell, right.
(39:05):
But some of the areas that I dofeel that AI is going to really
benefit not only the tenantguest experience but also the
operational side.
It all kind of connects back totaking off all the automated
tasks that we have to do today-to-day submitting a report,
automating emails to residents,automating notifications.
Rachel Oh (39:28):
So you're talking at the property level, for the
property managers and theregionals and all of that.
They're going to have moreautomation built in.
Something's going to actuallytell them what to do or it'll
get done.
Jordan Egnew (39:38):
Or take care of it for them essentially.
Another area that I'm seeing isin maintenance.
We're seeing different AIsensors, different sensors being
integrated into maintenanceitems.
Rachel Oh (39:49):
You know, my Google Home tells me when to change my.
Air filter, air filter, and Idon't even know how it knows
yeah I've changed it like howdoes it know?
Jordan Egnew (39:58):
I think that that one does a combination of time
and then also like the pressurein which the air is passing
through.
Rachel Oh (40:03):
Okay, and so then it's creepy.
I'm like how does it know, butit'll be like time to change
your air filter and I'm likewhoa, you're like, okay, well,
same thing with that.
Jordan Egnew (40:12):
Like think of your big like boiler rooms and all
of your different HVACs and yourdifferent systems.
So actually what they're ableto start doing is, with the AI,
they will know basically whichproducts you're putting into
your asset whether that be thetype of furnace, the type of air
conditioner unit, all the waydown to your door access and
your doors, all the way down toyour door access and your doors.
(40:34):
They can basically starttracking these devices and these
different items and comparingthat to the many different
properties all over the countryand the world that have done
that and start extrapolatingthat data.
Rachel Oh (40:45):
Oh my gosh, that is so crazy.
Jordan Egnew (40:46):
They can then start saying, ok, we're starting
to see these start to fail, andin real time you can start
getting alerts, saying, ok, itlooks like model three of your
air conditioner unit that you'veinstalled at this property is
starting to see some issues onyear three and it can alert you
in real time.
Maybe you haven't seen it atyour property yet, but it starts
(41:07):
happening, and so then you canstart predicting maintenance
requests and then you can alsostart.
I think what that eventuallylead to is understanding which
is the best system to put intoplaces.
Yeah.
And you have data to say okay,we don't want to choose that
type of air conditioning unitbecause we've seen a failure
rate at this rate.
Yeah.
And so you can start makingdecisions, not only basically
throughout the whole process,not only how you're maintaining
(41:29):
it, but you can choose whatyou're putting into a building
and hopefully making betterdecisions on the systems you're
putting in it.
But you can choose what you'reputting into a building and
hopefully making betterdecisions on the systems you're
putting in, but then also beingable to proactively start
planning maybe a year or two inadvance of when you know you're
going to have to put some equityinto your property.
Rachel Oh (41:42):
That is so interesting.
That is amazing, because wedon't have to do anything, I
don't have to remember stuff.
It's going to evaluate for me.
It's basically just going totell me what to do.
That's, I think, pretty crazy.
Jordan Egnew (41:56):
I think it's crazy too, but I think the caveat on
the question I think I come backto in that, well, if I wasn't
worried about this, what otherthings could I solve?
Could I be more creative in myjob if I was able to take out
some of the tasks of rememberingthings?
Would that facilitate me to bemore strategic?
And I think that's where weshould all focus, you know, as
(42:16):
individuals, as organizations,as companies is how can we take
some of this low-hanging fruitand items that we have to be so
reactionary to all the time andcause fires?
How to be a little proactive soI can save myself time, so I
can remain strategic, I can becreative and not have to have
these stressful situationshappen as much no-transcript.
Rachel Oh (43:01):
Excellent job doing so.
I think that's superinteresting.
Okay, anything else I've missedis we've been talking about
technology, about AI, aboutcybersecurity, about all these
things as it relates to realestate investment that I think
people are probably maybe not asaware of.
Jordan Egnew (43:17):
Yeah, I think.
One other one is like electricvehicles.
Right, it's not maybe astrictly IT type of thing, but
there's a lot of like grantmoney and money going around
right now to implement and putin infrastructure around EV
charging infrastructure aroundEV charging and so we are trying
(43:38):
to get access to that grantmoney and models so that we can
have EV chargers offered as anamenity at minimal to no cost at
the property setup.
Rachel Oh (43:44):
And that would involve solar or something,
wouldn't it?
Because wouldn't you have tohave some sort of alternate
energy source in order toprovide electricity and to
minimize costs for?
Jordan Egnew (43:54):
it.
Yeah, so on that one, it'sactually pulling from the grid
and then going into your car.
Rachel Oh (43:57):
Okay, what if we pulled from solar?
Jordan Egnew (44:00):
I haven't seen that.
On that, because usually theseare like the think of the ones
where you go to like the grocerystore and it's like a little
like stand.
Rachel Oh (44:06):
Yeah.
Jordan Egnew (44:08):
To charge your full car.
Yeah, that's more where I haveseen that piece, because you get
like the solar.
Rachel Oh (44:13):
to charge a car is quite a bit of energy it would
take, you know but if you couldcapture solar energy and not go
into the grid and have thatright, you could do that.
That's fair and I and you knowyou are saying what do I know?
Jordan Egnew (44:25):
no, no, and actually you are seeing, like
ikea, for example, or a weirdexample, they've installed, I
think, or are installingessentially, solar panels on all
of their stores around theworld, and the idea is that they
will utilize the energy createdby that first and then they'll
tap into the grid.
And then that's equaling savingsfor their operations side.
So I think we'll start seeingthat happen more and more and
(44:47):
potentially, I think maybe we'llstart seeing it in the real
estate side on our area and, bythe way, I have no interest,
like I have no economic,financial interest in solar
companies or anything.
Rachel Oh (44:56):
It just came to mind when you were saying you know
minimizing costs at the propertylevels.
Yeah.
And in some states electricityis expensive.
Yeah, Our primary Mountain Westregion is not so bad, but I
know California is expensive andI think Florida maybe I don't
remember, but yeah.
Jordan Egnew (45:12):
Okay, but offering the amenity of the EV charging
and then trying to not pay forit yourself, I think, is a good
strategy too.
So you don't have to come upwith it Because they're
expensive little units.
I think I saw that they're like$300,000, something to get like
one of them Is that much.
Yeah, oh Because it's likethere's a lot of like licensing
and not licensing, but permitsand regulation around it that
(45:33):
you have to pay for.
Rachel Oh (45:34):
So one of those things are $300,000?
.
Jordan Egnew (45:36):
They can be up to that much, yeah.
Rachel Oh (45:38):
But not the kinds that are in the homes, right,
that's different.
Jordan Egnew (45:41):
No, that one's different.
These are like yoursupercharger type stations.
Rachel Oh (45:44):
It charges your car in like 20 minutes or something.
Yeah, okay, yeah.
Okay, supercharged Okay, okay.
Jordan Egnew (45:52):
Yeah.
Well, okay, okay, well, andactually since you know, as
we're kind of winding this down,the other thing too is we do
have those car stackers, right,and that's technology enabled
right, because I know that youcan call your car quote guess,
(46:13):
type of thing, and that wasreally, I think that was needed
to make that project even move,like we had to go with that we
did because we didn't have theroom.
Rachel Oh (46:20):
Yeah, but the parking requirements.
So, for those of you whohaven't seen this, we have at
one of our properties a parkingsystem that's actually enabled
by technology.
Right?
You use your app, I think, tocall the car, so will you
describe that for everyone?
Jordan Egnew (46:35):
Yeah, essentially like you.
Let's say, you're in yourapartment, you're ready to go,
we'll start at that point.
You basically can call your carand schedule that.
Like just via an app, yep, viaan app, and let it know like
you're heading down to go grabyour vehicle.
It will, essentially.
And now your car is sitting ina big six story, seven story,
(46:57):
stacked on, stacked on, stacked.
I think it's like three carsdeep, seven cars tall.
Rachel Oh (47:01):
It's literally like a .
I've seen it.
It's like a vending machine.
Jordan Egnew (47:04):
It just kind of Tetris's your car, exactly, and
it takes your car let's say yourcar's all the way to the top,
it'll move it down, move it over, move it down again, and it
kind of moves its way down untilit gets to the point in which
it's delivered to you.
Rachel Oh (47:14):
And it just spits out right.
Jordan Egnew (47:17):
It pulls into like a car part that you then walk
in, get into your car and driveout, Wow.
And then it goes ahead andreorganizes and puts the car
back up and it's ready for thenext person.
Rachel Oh (47:30):
How long is that process?
From the time you call the carand to when you get?
Jordan Egnew (47:35):
in the car.
It depends on where your car islocated inside the parking
structure, but it does give you,like an estimated time on your
app to let you know like abouthow long you can expect.
So if your car you know, if youran in put your car in and you
ran inside your house and youneeded to come right back out to
grab it, it's not going to takenearly as long.
But, if you went and parkedyour car and you waited two
weeks it might take, you know.
Rachel Oh (47:55):
I don't know exactly how long, but I would say like
10, 15 minutes potentially foryou to get that car, which would
make sense that you call itwhen you're starting to leave,
and that'd be in the case wherethere's like multiple people who
have also like cued their carorder, but that'd be like your
worst case.
But it gives you a timeestimate.
Jordan Egnew (48:09):
Yeah, dude, I love that, I want and it's nice
because again you can buildthese nice assets in a highly
dense location.
Rachel Oh (48:16):
Yeah, where parking is tough.
By the way, when we built theparking garage at Paperbox it
was the largest covered parkingvending machine, if you will, in
the West.
Isn't that crazy?
Jordan Egnew (48:30):
That is really cool.
Rachel Oh (48:31):
In little old Salt Lake.
Jordan Egnew (48:32):
And I think when they announced it too, it was
one of the first ones here inUtah ever.
Rachel Oh (48:36):
Yeah, I think there was another group that had one
in theirs, but ours was thefirst freestanding Freestanding
and therefore the largest,because we were able to do much
larger than the other ones.
Jordan Egnew (48:47):
Well, you know, rachel, I think we talked about
a lot of different things today,A lot of these new emerging
technologies and a lot of thesereally exciting things, and I'm
I'm really excited for a lot ofthem.
I think what it will do andfacilitate for everyone is just
better lifestyle and like moreless drudgery and like the day
to day of like these tasks thatyou're like no, you're right.
Rachel Oh (49:08):
You're right, Simplifying things and, uh,
automation and being super smart.
I mean that's and dude, if Ican call my car from a phone,
that's pretty slick, I'm prettyexcited.
That's amazing.
That's awesome.
Jordan Egnew (49:22):
And I'm really excited to see where it all goes
.
And I think it could.
It's changing literally everyday.
There's a new companyannouncing some feature and a
new organization implementing AIinto their platform, and I
think that we're just really inthe beginning phases of seeing
where it all will go.
And while there are thosechallenges and initiatives, I
(49:42):
think that every good thingcomes with its challenges.
So we're going to see somegreat things.
Rachel Oh (49:46):
Awesome, Well, and and I don't have to worry about
it because you're protecting uswith all your cybersecurity
stuff so you know, I thinktechnology is one of those
things that we take for granted.
You know really truly, but Ilove hearing about the different
things that you're thinkingabout, things that keep you up
at night and the policies thatyou've implemented, and I pretty
much just don't open any emailsanymore unless I know who it's
(50:06):
from.
So you've taught me that,Perfect, You've taught me well,
and now I'll never answer thephone.
Jordan Egnew (50:11):
So no, you can have so much more time.
Rachel Oh (50:13):
Yes, yes, no, it's so good.
Okay.
Well, Jordan, thank you so muchfor joining our little humble
podcast today and for everyonethat's been listening.
We so appreciate you tuning in.
So, again, from the peaks ofthe Mountain West, we're so
grateful to have you all inJoining us for this week's
episode of Peaks and Portfoliosby PEG Companies.
And so until next time, thankseveryone.
Popular Podcasts
On Purpose with Jay Shetty
I’m Jay Shetty host of On Purpose the worlds #1 Mental Health podcast and I’m so grateful you found us. I started this podcast 5 years ago to invite you into conversations and workshops that are designed to help make you happier, healthier and more healed. I believe that when you (yes you) feel seen, heard and understood you’re able to deal with relationship struggles, work challenges and life’s ups and downs with more ease and grace. I interview experts, celebrities, thought leaders and athletes so that we can grow our mindset, build better habits and uncover a side of them we’ve never seen before. New episodes every Monday and Friday. Your support means the world to me and I don’t take it for granted — click the follow button and leave a review to help us spread the love with On Purpose. I can’t wait for you to listen to your first or 500th episode!
The Breakfast Club
The World's Most Dangerous Morning Show, The Breakfast Club, With DJ Envy And Charlamagne Tha God!
The Joe Rogan Experience
The official podcast of comedian Joe Rogan.