Technology’s Role in Commercial Real Estate
3 ways it can lead to investment success.
3 min read
Over the last decade, the commercial real estate industry has continued to embrace the latest and most innovative technology solutions to better their businesses.
Technology plays a more significant role in the commercial real estate game than one would think. The onset of the pandemic has only accelerated the evident shift from traditional commercial real estate tactics and practices to more advanced but simplified versions. We're breaking down the three important ways it can lead to investment success.
Betters Communication
Gone are the days when agents and their clients were forced to meet face-to-face to get a deal done. Technology offers a more straightforward solution, allowing all parties to choose how they would like to communicate—virtually, in person or both. With more options comes more flexibility. A steady flow of communication is the key to a transaction running smoothly from start to finish. Whether it be virtual, in-person or a combination of both, establishing transparent communications channels with all parties from the beginning will allow you to do just that.
Increases Online Presence
We've said it once, and we'll say it again, you need to be online! It is essential to get your business in commercial real estate and what it has to offer in front of the most eyes possible. Developing an online presence is now easier than ever, with technology that allows you to build and promote your brand with the click of a button. Putting your business online will enable you to generate more traction to your current listings and help you pinpoint potential clients or other cre professionals for investment opportunities. Building an online presence makes it all that much easier for people to find, learn, and work with you.
Streamlines Operations
As a commercial real estate agent, you may find yourself in a mountain-high pile of to-do's with no end in sight, making it that much harder to get a deal done. We'll let you in on a secret. There are tools and technology out there that help make life all that much easier, with almost no effort required. How? Through advancements in technology like video and photography, investors can get a closer look into the ins and outs of a potential investment without having to step foot on site. Agents can provide their clients with depth details on properties, research comparable and do their due diligence that much easier before signing on the dotted line.
Implementing new tech-forward strategies for otherwise dated practices can help make the digital transformation in the commercial real estate industry much more effortless.
Reference
Tronconi, J. (2021, July 13). 4 ways technology plays a role in commercial real estate investing, With Rob Finlay. America Daily Post. https://www.americadailypost.com/4-ways-technology-plays-a-role-in-commercial-real-estate-investing-with-rob-finlay/.
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Our commercial real estate industry and segment expertise coupled with Royal LePage’s national platform and integrated systems provides best-in-class real estate strategies and a competitive advantage that can’t be beat.
We help businesses identify opportunities and maximize their return on investment with actionable goals, centralized support services and a strong commitment to customer success. Our national partnerships help us establish, guide and execute successful business investments.
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