5 Minutes in Multifamily with Eric Roseman
5 Minutes in Multifamily: Episode #11
Recorded on June 2 by Hyro
5 Minutes in Multifamily—a new video series featuring real estate and #proptech experts sharing their insights on key industry topics and trends, all under 5 minutes. Well, usually under 5 minutes.
For this episode, we were honored to welcome Eric Roseman, Chief Revenue Officer at Xeal, a technology-first electric vehicle charging company operating at the intersection of mobility, real estate, IoT, and energy. Eric shares his perspective on the future of apartment and office buildings, how to keep tenants happy and the importance of providing the appropriate facilities for EV's.
Eric believes the electrification of mobility will be the largest catalyst for change over the next few decades and plans to be at the forefront of the seismic shift. After spearheading the Innovation and Ventures team at Lincoln Property Company, he decided to join LPC Ventures' most promising technology company, Xeal, to lead the company's growth into the future. Xeal is building a world class team to solve the reliability concerns for Electric Vehicle charging and deploying proprietary technology across a network of chargers and other endpoints. Previous to Xeal and LPC, Eric was running West Coast Technology Sales for CBRE after the Floored acquisition by CBRE in January of 2017.
CHECK OUT THE FULL ON-DEMAND RECORDING:
FOR THE FULL TRANSCRIPT, KEEP SCROLLING:
[00:00:00] Turner: All right. Awesome. So I'm Turner with Hyro and today I'm joined by Eric Roseman. Eric, I'll let you introduce yourself.
[00:00:20] Eric: Awesome. Thanks Turner. My name's Eric Roseman. I'm down here in Austin, Texas. And I'm the chief revenue officer at Xeal, which is a technology first electric vehicle charging company.
Recently came over to this company after running technology and innovation at Lincoln property company. One of the largest real estate companies in the us. So understood the real estate world now bringing that expertise to ensuring that the future is electric for commercial real estate.
[00:00:44] Turner: Awesome. Thanks Eric.
What are the top three things that owners and property management companies should be thinking about for 2022?
[00:00:54] Eric: They should be thinking about keeping their tenants happy, right? Tenants are customers. And so you gotta be maniacally focused on keeping your customers happy and attracting customers.
So when I think about that and I think about apartment buildings and office buildings, that's the world I live in with our business. How do you keep tenants happy? You gotta give 'em great places that are comfortable that are. Programmed and have all the sort of built in necessities. And so it's been interesting, right?
Being singularly focused on electric vehicle charging. We are trying to make sure that building owners understand to keep tenants happy to attract tenants. They need a place to charge their car. They don't charge at home. Imagine not being able to charge your phone at home. It would make you pretty.
What are some risks for companies who are hesitant to adapt to today's digital demands and changes?
[00:01:43] Eric: If you don't adapt you become obsolete. That's always the concern. You think about your think about my dad. My dad doesn't know how to use a computer.
Like sadly, he's become a little obsolete when it comes to doing like normal day to day business things. Luckily he is a doctor, so he doesn't run too much in the world lessons. But, you have to change or you, or, we hear so many times people being like, oh, I'll be a late adopter or I'll see everybody else do it.
Now I'll join. But it's if you take that mentality on everything you start to slip behind, you become a less desirable place to work. You become a less desirable building to be at. And it's a pretty dangerous proposition to be someone who's not staying ahead of the curve. And in a competitive market, when you're talking about apartment buildings, you're talking about office buildings, there's the paradigm of choice.
And so tenants can go to building a, or can go to building B. And when you hear the building a has certain features and certain offerings, that's what stands out. So oftentimes I know it's scary to take the leap into certain technology offerings. Gosh, the op the downside of not adopting is is way worse than adopting and, maybe it fails.
So what are you reading/listening to?
[00:02:58] Eric: I'm reading the Razor's edge by, oh my gosh.
I'm forgetting his name, but it was a novel written about aristocrats in Paris and the. In the turn of the century. And just about like this different personalities, there's this guy, Larry, who's a bit of a lost soul. Who's not very interested in money and kind of wants to self-actualize and find himself, and so he goes to the Tibetan Hills to be a monk. And then he's, you have the aristocrats of Paris who don't really understand him. And so part of me feels like I get pulled in both worlds where I love like the mindfulness wellness, spirituality. Like I could go live in the Himalayas for two years, but my wife grounds me in.
Makes me realize that I'm just a working professional and that's a good thing. And I'm family oriented. So I'm enjoying the novel. That's like the pull of modern society from the self actualized individual and like, how do they interact? On the business side I'm working nonstop.
I'm building this business at zeal. So not a lot of free time to, to read anything other than electric vehicle news and, technology having. To real estate or EVs. Do you just
[00:04:01] Turner: have a Google alert set for anything? Anytime Elon Musk, his name is mentioned in the news or anything he's doing.
[00:04:07] Eric: My Twitter is nothing buddy on Musks. And yeah, I've definitely yeah, I just got a Tesla and so I was gonna wrap it with with the zeal branding, but I haven't gotten around to that yet. So I, all things Tesla I'm definitely a
[00:04:18] Turner: fan. Nice. Very cool. All right.
Who are some of the trailblazers in the industry, and how can we learn from them?
[00:04:26] Eric: As it relates to certain firms I see developers like a wood partners. I see developers like Lincoln property company. I see big property management companies like gray star that have built the infrastructure and the resources to to adopt and take on new technologies. They're setting the tone.
They're the logos that, we can stand behind to say, Hey look like they're moving first. You should too. Then there's the smaller players like catalyst housing group out of California. That's innovating and trail BaZing around workforce housing and affordable, like structuring by working with municipalities to basically like help buy buildings and turn them into workforce housing for teachers and firemen and policemen.
I think that's trailblazing. I think the industry at large has seen a lot of trailblazers with some of this prop tech venture funding and venture firms that have raised money to find companies like zeal and then bring in other real estate companies to say, Hey, come join a cohort of us to to hear what's going on.
What do you think is the next big trend in the multifamily industry?
[00:05:46] Eric: Yeah, the next big trend. Yeah. I actually think I'm about, we're gonna see a reversion to the mean, and here's what I mean. I'm now very adamant about, I think all of this meta universal discussions is a bunch of nonsense.
Anyone that's buying digital land in like a platform that's called my eyes is skew morphic. Meaning if you want digital real estate, go buy a. A website is effectively digital real estate. It gets eyeballs. You can run an operating business. I, the next trend is gonna be people running away from some of this nonsense and the trends and coming back to building real value on real land in real businesses.
Improving physical space. Like improving energy sources working on real mobility problems, not trying to build solutions, looking for problems in med, in the metaverse. So I'm excited for people to to wake up and realize that there's actual real problems to solve. And and I'm here for when they need a job.
Show Notes & Learn More:
Follow guest Eric Roseman:
Loved this podcast? Check out the next episode: