By: KeyCrew Media
At a recent commercial real estate trade show, a panel moderator asked the speakers for something owners in the room could act on the next day. Bill Douglas, CEO of OpticWise, answered with a single question owners should put to every vendor: “If I replaced you tomorrow, what do I keep?”
The room went silent. Bill quickly clarified what he meant. “I’m not saying go fire your vendors,” he said. “I’m saying, find out what you own.”
Why This Question Matters
Most commercial properties run on far more technology than owners realize. There is the property management system, and then there are access controls, video security, lighting controls, building management systems, intercoms, and more. Each one comes with its own contract, its own data, and often its own network.
“Every time we do a digital review, we identify six or eight systems minimum that nobody knew were there,” Bill said.
Owners tend to assume they own the equipment and data at their properties because they pay for it. The reality is often less clear. That matters when a property is sold, refinanced, or handed to a new manager, because what you actually own determines what transfers with the asset. If a network belongs to the provider, for example, firing that provider can mean losing the network and paying to install a new one.
The Follow-Up Questions That Get Real Answers
The first question opens the conversation. The follow-up questions reveal where things stand. Bill recommends asking every vendor:
• What data do I own, and where is it stored?
• Do I have the rights to it?
• Do I have export rights?
• Is it portable if I move to another provider?
• What devices and sensors are on my site, and which ones do I own?
• Is all of this written into the contract?
That last question may be the most important. Many owners believe ownership was settled because a vendor said so in a proposal, a meeting, or an email. Bill’s view is simple: a conversation is not a contract. If data and digital infrastructure ownership are not in the agreement itself, you cannot count on them.
One operator who appeared on the Peak Property Performance podcast offered a useful test. If everyone who negotiated a contract were gone tomorrow, could someone else pick it up and understand exactly what was agreed? If the answer is no, the contract needs work.
Pay Attention to the Pause
Bill says the vendor’s reaction to the “what do I keep?” question tells you a lot. “They’ll go, what do you mean? And pay attention to the pause,” he said.
A quick “it’s all yours” is not the end of the conversation. It is the start. “If they say, of course you own the data, say, well, do I have export rights? Is this portable?” Bill said. A vendor who can answer those questions clearly and point to the contract language is a vendor you can plan a future around. A vendor who can’t answer them has shown you where your risk is.
This Is About Clarity, Not Conflict
When Bill made his point on the panel, the vendors in the audience responded too. Their message was that vendors should go to their customers first and lay out exactly what belongs to whom. Bill agreed. “No matter what the answer is, just take the ambiguity out of it,” he said.
The goal is not to damage relationships with vendors who do good work. Many of them keep properties running every day. The goal is for owners to stop waiting to be told what data & digital they own and control.
“You’re the customer,” Bill said. “Why do you sit back and wait for the vendor to tell you their roadmap or the vendor to tell you what services their platform gives you? Why don’t you ask?”
For owners who want a practical place to start, the process is straightforward. List every system at the property. Ask each vendor the question. Get the answers in writing, and make sure the contract reflects them. Bill covers the broader case for treating digital infrastructure as part of the asset in his book, Peak Property Performance®.
OpticWise is a commercial real estate digital infrastructure and data strategy firm that helps owners and operators take control of their property data and technology. CEO Bill Douglas is co-author of the book Peak Property Performance®: Game-Changing AI and Digital Strategies for Commercial Real Estate (Fast Company Press) and host of the Peak Property Performance podcast.
Disclaimer: This article is based on information provided by the expert source cited above. It is intended for general informational purposes only and does not constitute legal, financial, or real estate advice. Readers should conduct their own research and consult qualified professionals before making any real estate or financial decisions.
