4 Must-Watch CRE Technologies for 2017
Relying on more technology in the workplace isn’t just a millennial thing, it’s the sign of a changing market. Like other industries that rely on making connections and building relationships, the amount of technology in the field of commercial real estate is projected to grow in 2017. The best way to ensure that your business stays at the top of the field is to stay current with the advancements in the industry.
Here are some technology-related things to look for in 2017:
1. Platforms That Use Cloud-Based Technology
Storing information in cloud services is nothing new, even for commercial real estate businesses. Industry-related CRM platforms that aren’t equipped for the cloud have already been considered outdated and obsolete. However, the amount of data stored and transmitted through cloud technology is expected to grow in 2017.
Expect to use cloud technology to make your work quicker and more efficient. Sharing real estate analytics and signing contracts and other forms of paperwork can all be done quickly through cloud-based tech.
2. Mobile Apps and Responsive Web Design
The nature of fast-paced industries like ours means that you’re often out in the field. When you’re not networking face-to-face, you’re assessing properties or trying to close deals with important clients. Because of this, you rarely have the time to switch on your computer and sit at a desk.
Fortunately, mobile technology is catching up to our on-the-go lifestyle. Websites are now being optimized for smartphones and tablets, and CRE-related software is being ported over to iOS and Android devices. This means that you can complete transactions and exchange paperwork with anyone in the world without having to step into your office.
3. Virtual Reality Tours
With all of the advancements of Virtual Reality technology in 2016, it’s safe to assume in 2017 you’ll see this tech utilized in the business world. For the commercial real estate industry, this translates into taking tours of buildings and plots of land without ever having to leave your office.
At the moment, VR and 3D technology are still costly to develop; this means that it’s reserved for the most expensive properties on the market. However, as the field of VR advances and things becoming cheaper and easier to design, you can expect for virtual reality to play a more prominent role in getting deals done.
4. Improved Analytics
As cloud-based technology advances, so does its capacity to process information in a timely manner. Many CRE programs are now able to record property-related data and statistics in real time, which is then sent to clients, brokers, developers, and investors. Investment and developing decisions that typically took months of research to come to are now able to be made within a few days.
Staying Current with the Trends
In today’s workplace, it’s virtually impossible to succeed without using modern technology. Systems that operate using cloud storage are important in fields like CRE where people are expected to exchange information and files at a moment’s notice. Let ClientLook help you manage your contacts and properties while keeping your business in the technological loop.