One month into year 2K17 reveals a significant opportunity for the CRE market to take advantage of new tools, applications, and innovations in what history may record as a monumental shift in the political, social, and economic landscapes of this world. Profit and sustainability lie in the balance for managers, investors, brokers, and other CRE professionals willing to catch the wave of technology. Better than merely watching, try to integrate some of the following tech trends expected to revolutionize the CRE market this year.
It's not like a robot could give a property showing - or could it? Just like virtual reality and mobile tech rocked the real estate industry in unexpected ways, robotics is poised as the next game changer. No, we don't mean droids walking around properties answering questions for consumers. Service providers are deploying robotics across the real estate industry in other ways.
Startups don’t need to bust their budgets renting prime retail locations. Bulletin has adapted the flexible workspace trend to retail spaces, offering new brands an opportunity to experiment with physical locations on adaptable terms.
Rumor has it the amount of money funneling into Financial Tech investments is on the decline. Early research from CB Insights indicates that while 2016 was not as prolific in terms of the number of deals as 2015, venture capitalists continued closing investment deals to the tune of $5.97 billion.
Commercial real estate brokers designed Apto specifically for the CRE industry. The results speak for themselves. Today Apto is a top customer relationship management provider for CRE professionals. Its award-winning software platform efficiently manages customer relationships, listings, deals, and back office workflows.
According to the 2017 Home Buyer and Seller Generational Trend report by the National Association of Realtors, millennials are now the largest group of potential homebuyers on the market–and they’re looking to purchase smart homes. A recent survey conducted by Coldwell Banker revealed that 72 percent of millennials are willing to pay $1,500 or more, and that 44 percent are willing to pay $3,000 or more to make their home smart.
Websites do not age well. New coding practices and standards change the direction of web design it seems every five years. We look back at some of the original websites as novelties, but for a thriving business, a dinosaur website is not cute. If your website is showing a high bounce rate or any of the following signs, it’s probably time for a redesign.
Ask any commercial real estate marketer to name the top three trends in marketing today, and virtual reality is guaranteed to make the list. Virtual and augmented reality tech continues revolutionizing how CRE professionals market properties. Startups like VirtualAPT, Matterport, VRGlobal, FeelEstate, tout the engagement benefits of VR marketing across the industry, but not much has been said about what features matter when using a virtual reality program.
Like most business owners, Chris Meyer found the lending process tedious and drawn out. In ten years of running various businesses, he applied for fourteen loans. Each required over two months to assemble the loan package: three years of business and personal tax returns, a personal financial statement, and an application for each bank. One day, he reflected upon how many people he didn’t know had access to his most private information. In today’s tech world, he knew there had to be a faster, more secure way to get loans.
- Twice since we rang in the New Year, Yahoo announced a huge company-wide hacking breach exposing billions of user accounts. They are not alone. Hackers have breached a California lawmaker’s website, revealed a new bug in the Apple iPad, exposed AdultFriendFinder accounts, targeted LinkedIn and Dailymotion. Cyber security vulnerabilities are a huge concern for all businesses. Exposing confidential consumer information is a huge blow to any company's bottom line.
Long before artificial intelligence chatbots started trending, we had Twitter bots. These programmed AI’s ranged from the weird, like @everyword that tweeted every word in the dictionary, to the awe-inspiring @dscvr_epic that tweeted a new satellite photo of Earth every day. Some social media managers consider them spammy. Depending on their purpose and programming, this could be true. When used correctly, Twitter bots can be a powerful marketing tool.
Founders Ryan Freed, Corey Loftus, and Francesca Loftus started hOM after seeing how lifestyle amenities extended Ryan’s mother’s stage 3 cancer diagnosis from two years to eight years. He wanted to make these amenities more accessible for everyone. Amenities are a huge selling point in today's tenant-occupied real estate spaces. hOM makes offering these amenities painless. The company takes underutilized spaces inside residential and commercial properties and transforms them into locations for community building to fitness classes and social events, helping increase tenant satisfaction and retention.
The essential modern office space checklist: location, amenities, parking, size...and internet connectivity? Yes, reliable internet connectivity is a non-negotiable feature of the current working world. That's because the majority of businesses rely on Internet service to operate. It’s not just Internet access for email: cloud access, VoIP, big data, and SaaS providers depend on connectivity. In our report, The State of Office Connectivity, WiredScore found that 78% of office workers ranked reliable internet connection as vital in choosing office space. Intermittent service leads to a loss of productivity and revenue. When designing or upgrading new office spaces, it's crucial to factor internet connectivity into your decision-making.
Back office duties famously drain valuable staff time better spent on essential functions. Thanks to new technology solutions that track every aspect of their job, property managers work more efficiently. Managing vendors, running invoices, and lead generation run automatically with the right system. Top property management software is easy to use, integrates into other software, and offers mobility that property managers value.
Technology has reshaped how CRE professionals conduct and manage every aspect of business over the last decade. What started as long databases in Excel are now sophisticated automated systems integrated with contact databases, email, and accounting systems. The number of startups addressing industry pain points continues blossoming. Right now specific CRE markets are witnessing growth in technology development. The top trends reflect the progress underway in big data, smart cities, and process automation.
Manage the entire commercial real estate transaction process from listing to closing with CREXi. The company applies the latest advances and technology to easily manage transactions. CREXi is designed for the commercial real estate market as an efficient commercial real estate exchange. During its beta stage in 2015, CREXi reported 200 properties with a $1 billion total valuation moved through its system. CREXi launched to the public in early 2016 and today its marketplace inventory represents approximately $60 billion in value.
After a series of fatal accidents, the Department of Buildings (DOB) announced increased construction enforcement efforts in February 2016. In addition to adding new types of violations and raising fine amounts for hazardous infractions, the DOB added more inspectors to their ranks, all of which should point to an increase in violation issuance. It's been nearly a year since the launch of ramped up site safety initiatives - has the enforcement landscape changed since?
Real page is expanding its MPF Research division with the $75 million acquisition of Axiometrics, a multifamily data provider. The acquisition deal includes all of Axiometrics’ assets and is expected to close this month with full integration of the two services by 2018. The addition is part of RealPage’s mission for a full-service data intelligence platform that will help multifamily clients make educated capital decisions.
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