CRE Brokerage Then and Now: How Tech is Changing

commercial real estate tech trends

CRE Brokerage Then and Now: How Tech is Changing

Technology is changing how we work every single day. It feels like there’s always a new app or device with the potential to change the methods we use every day to use our jobs – especially in the commercial real estate industry. Let’s take a closer look at how technology is becoming vitally important in running your business and in recruiting and retaining top brokers.

Social Media

Now more so than ever, brokers are utilizing social media to market properties and to establish themselves as thought leaders. Maintaining a digital presence is important, because many people look to sites such as LinkedIn and Twitter to establish a connection before meeting with a prospect or interviewing at a brokerage firm.

Brokers are using social media platforms such as Instagram to market properties and listings and to give updates on building renovations. Brokers are also using Twitter to share articles they are quoted in and to increase their knowledge of the CRE industry.

Drones

Drones just recently made headway in the commercial real estate and appraisal industries. Drones can give 360-degree tours of properties for remote investors and other interested buyers or tenants. This new technology now allows brokers to save time and money by offering tenants tours over the Internet from any device at any time. This innovative technology allows brokers to expand their marketing and reach more potential buyers and tenants.

Tenants

Technology has allowed for co-working spaces to become more popular, because with the Cloud people can work from virtually anywhere. The commercial real estate industry is seeing more technology companies pop up and more co-working companies renting out space. As technology continues to change the way we work, this will affect the types of tenants renting office space as well as the industrial sector with distribution facilities.

The layout of spaces will also change as more tenants look to offer multiple different environments for people to work in, now that technology has allowed people to work from anywhere on any device.

CRM

Commercial real estate CRMs are adding more features than we can keep up with. ClientLook offers a “virtual assistant” tool that helps assist brokers in everyday tasks. You can create your own property universe with a CRM by tracking property ownership, monitoring tenant movements and lease expirations, and understanding investor holdings.

Technology has allowed even the newest broker to be a market expert with instant access to your personal property inventory module and related contacts. Clients will be amazed at all that you can do with your CRM.

Applications

Everyone is mobile – especially at work. Phone applications like Slack allow for brokers to communicate more quickly and efficiently with each other than via text or email. Other brokers utilize apps such as DocuSign to close transactions and sign paperwork when they aren’t in the office. For brokers that can’t seem to keep up with their meetings, Google Calendar will give them alerts for when they have meetings coming up.

About the Author

Michael Griffin

Michael Griffin - President & CEO, ClientLook, Ltd.

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