Collaborating to Learn... Remember the spring of 2000? Passion still blazed for the New Economy. Internet CEOs still trumpeted "first mover" advantage. The Nasdaq rocketed toward its peak of 5,132 (March 10, 2000). And just 60 days later (on May 10) fifteen major real estate players announced the formation of Constellation Real Technologies, a real estate technology consortium and venture capital fund.

So how has Constellation fared? Well, very nicely indeed, says CEO Glen Barnard. Constellation counts among its members the top three publicly traded real estate companies -- Equity Office, Equity Residential and Simon -- as well as AMB, KB Home, Starwood, TIAA and others. Currently Constellation has invested in three companies: FacilityPro, e-procurement for facilities managers; ePropertyTax, online management of real and personal property taxes; and eProject, project management software.

But according to Barnard, Constellation's most valuable service is facilitating collaboration among its members. So periodically Constellation surveys its members to establish their strategic priorities and then assists them in jointly evaluating technology to address these priorities. Current priorities include facilities management, contract management, rent check processing (for multifamily), energy management, and, finally, data and market analyses.

Barnard is particularly sensitive to the issue of adoption. How do you introduce a new technology? How do you encourage growth across an organization? How do you nurture early adopters? So Constellation insists upon "pilotability." Test with a pilot program. Don't shoot for the moon. Prove that it works first.

--Peter Pike