The technological innovations that have occurred over the last few years have helped to make CRE brokers and agents more efficient than ever. These new technologies have given CRE agents the ability to store and transmit large amounts of data instantaneously, share it with an unlimited number of people, and quickly and effectively analyze the data. These recent innovations are quickly becoming some of the most important resources available to the CRE agents of today.
Being able to utilize all of the available tools can help to keep a commercial real estate team ahead of the curve, something that will help them to stay on top of market trends and continue to be a successful brokerage. Many of these new tools can help to decrease costs while increasing productivity – both of which are important to CRE brokers and property managers.
While there are a number of trends and advancements that promise to make 2017 a great year for CRE brokers, a few stand out as the most important tools in the business.
Advances in three dimensional modeling technology have enabled real estate brokers to give their clients virtual property tours and include interactive models in their marketing schemes. These 3D virtual tours can help to give prospective buyers a feel for the property before they even set foot in the building.
In the past, this has been accomplished with 2 dimensional photographs, but being able do a virtual walkthrough of the property is vastly superior to the traditional method. This can help prospective clients narrow down their options in a short period of time when compared with the time wasted visiting unsuitable properties in the past.
Smart Sensor and iBeacon Technology
These sensors are an incredibly useful tool for anyone managing commercial properties – even when those properties are geographically distant from one another. They can track a building’s energy use and its flow of foot traffic and typical usage patterns. One way that this information can be used is to adjust the intensity of the overhead lighting based on the rooms current levels of light, increasing energy efficiency and decreasing costs. This information can also be used to better design future properties based on the way the current property’s features are being utilized.
The rising prominence of cloud storage has made utilizing and sharing data more efficient, with the stored files being more accessible to a larger number of people instantaneously. This technology is particularly useful when drafting contracts for the sale or rental of CRE. Instead of shuffling around time sensitive paperwork, each party involved can instantly access the document via cloud storage and use a virtual signature to approve of each portion.
The term “big data” typically refers to an extremely complex collection of data that can be analyzed using computer software. These data sets would take months or even years to analyze by hand, but the new technological updates have allowed brokers to find patterns and trends in these large data sets quickly and easily. The data stored at ProspectNow can be used to predict who is likely to buy, sell, or refinance their properties based on historical data. This is a useful tool for CRE teams – knowing where to find your target demographic is half the battle -and big data can help to streamline this process.