The Use of Technology Within the Commercial Real Estate Industry
1 min read.
The commercial real estate industry is in the early stages of adopting technology to improve business operations.
These technologies include anything from data and analytics software, AI and machine learning, cloud computing, and even robotics. Incorporating these technology and digital solutions can help automate management, building maintenance, purchasing real estate, and the planning and construction phases.
Today, buyers and agents can make more insightful decisions using accurate data, e-sign documents, share files, and online portals accessible virtually anywhere.
Properties must also be equipped with relevant and the “minimum” amount of technology to keep the property desirable, alongside sustainable technologies that improve energy and water consumption, with a possible combination of solar power, green roofs, and more.
Technology is changing how the world does business and functions as a whole. Staying up to date with the newest innovations in any industry is vital, as you never know when this will change and adapt to suit your needs.
References
How technology is changing the commercial real estate industry. CXRE Commercial Real Estate. (2020, June 11). Retrieved March 17, 2023, from https://cxre.co/real-estate-investment/how-technology-is-changing-the-commercial-real-estate-industry
Frank, J. (2022, October 12). Council Post: Why technology adoption is necessary in commercial real estate. Forbes. Retrieved March 17, 2023, from https://www.forbes.com/sites/forbesbusinesscouncil/2022/10/03/why-technology-adoption-is-necessary-in-commercial-real-estate/?sh=573acb6227cb
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