Technology is continually a big factor in the commercial real estate (CRE) industry. As 2017 quickly approaches, there have been several CRE tech trends that are becoming more prominent. Whether it’s big data, mobile apps or even virtual reality, CRE tech trends are becoming prominent in the way CRE professionals conduct business. REscour, a company that provides market intel to CRE professionals recently published a blog post detailing five CRE tech trends to keep an eye on. Read the excerpt below, then click the green button at the bottom of the page to view the full blog post.
As 2017 draws near, we often reflect on big events that happened, future opportunities, and upcoming trends to help better understand our professional space. In the commercial real estate sector, technology continues to impact the way real estate professionals do business. Staying current with this tech is more valuable than ever.
#1. VIRTUAL REALITY
The use of virtual reality in the commercial real estate space has greatly changed the way professionals work and do business. What used to be a physical visit, sometimes numerous ones, has now become possible with a few clicks. Potential investors or buyers now have the ability to visit properties in the comfort of their own office or home without having to waste hours or even days traveling.
This helps to eliminate the hassle of travel, saving time and money. Think of the benefits that foreign investors have with this type of technology and how this opens up a bigger pool of investment opportunities for them.
#2. BIG DATA
Big data made its appearance within the commercial real estate space in the last few years. However, many professionals weren’t sure what to do with the information given. As more professionals and companies tap into the real potential of opportunities with the use of big data, the CRE industry will continue to grow and expand.
Take, for instance, the ability of sensors and big data to relay valuable information to retail stores on pedestrian counts and shopper activity…