When it comes to succeeding in the real estate industry, relationships and making connections have always been vital. Thanks to technology, the ability to make such connections has become much easier. Adopting emerging technologies not only results in increased efficiency but also gives real estate professionals the ability to improve customer service. New CRE tech tools make this possible by providing the opportunity to reach prospective customers where they are. Additionally, new tools have even made it possible to streamline formerly routine tasks while significantly reducing the amount of time it takes real estate professionals to complete those tasks. As a result, more and more clients are now expecting technology to play a vital role in the real estate industry.
Given the rapid rise of so many different types of technology, it can sometimes feel a bit overwhelming. Real estate professionals may even wonder which technology is worth adopting. After all, adopting new technology can be both expensive and time-consuming. Determining which platforms and devices are most worth adopting will often depend upon your specific market, but some tools are worth incorporating regardless of the sector in which you are involved. Below are three commercial real estate technologies that you simply cannot live without.
1. MOBILE
With more people now owning a smartphone, you can no longer escape mobile. The rate for mobile adoption continues to rise at a steady pace. Even more important is the fact that for many smartphone users, their mobile device is the only device they use for online access. In response to this rising trend, a plethora of new applications is being developed and is specifically focused on the commercial real estate industry. The most relevant apps to the commercial real estate industry include mapping, document management, productivity, and visual content.
2. VIRTUAL
With more and more people living every aspect of their lives online, the ability to provide information virtually has become essential. As a result, real estate professionals are able to extend their reach far beyond their local markets while tapping into the ability to provide virtual tours and electronic signing capabilities to clients from around the world. Tasks that once would have taken days can now be completed in just a matter of minutes.
3. LEVERAGING THE POWER OF THE CROWD
At one time, real estate professionals were struggling to stand out from the crowd, but today, more and more people are tapping into the power of the crowd to make connections and reach a far wider audience. As a result, it has become much easier for everyone from agents to developers to bring everyone together while orchestrating transactions and projects in a much more efficient manner. Crowdfunding has become a vital element in the real estate industry while opening up the market to more people, particularly small investors.
Regardless of the sector of the industry in which you may be involved, these three technologies provide incredible opportunities.
