Many of us could avoid technology mostly until 2020 hit. At that point, everyone had to quickly get used to technology solutions like video conferencing, digital tours and food delivery apps. These solutions were already there, but circumstances forced most employees and employers to prioritize their importance.
As a commercial real estate professional, you have to ask yourself: at what point do you feel the need to adopt new solutions for your portfolio’s sake? If your CRE investments have been on the downturn, adopting technology like commercial real estate software can be crucial for the survival of your business.
This is especially true for certain industries. Let’s cover three of them.
1. Property Technology (PropTech)
Emerging as a game-changer in the world of commercial real estate, property technology is streamlining efficiency with common CRE tasks like property acquisition, tenant management and more. The right technology solution can take real estate management and operations efficiency to the next level in the following ways:
- Centralization: centralized dashboards are trending these days as they allow CRE pros and their team to monitor real-time data and act accordingly. Whether you’re deciding how to optimize resources or reduce operating costs, having a single place where you can view all of your data is a huge benefit.
- Accuracy: decision making should be data driven. It should also take into account market activity which is why many CRE solutions like Quarem prioritize data accuracy. Predictive analytics, property performance metrics and future value forecasts are all features that utilize clean data and can drive your decisions.
- Collaboration: in-person requests are obsolete. Consider investing in technology that allows for tenants to send messages to property managers, track maintenance requests and view critical dates or lease documents.
2. Financial Technology (FinTech)
FinTech is also reshaping the commercial real estate industry—particularly when it comes to the financial landscape of property investments. Those adopting the right technology in this industry are seeing new avenues for revenue, less friction with targets and increased transparency across their portfolio. If you’re in FinTech, commercial real estate software solutions like Quarem can help you simplify your lending processes, create smart contracts and more.
We live in an era of heightened environmental awareness, to put it lightly. “Green” or sustainability initiatives are all the rage for a variety of reasons. Regardless of where your opinion falls for this sensitive issue, if you do pursue sustainability-related properties (or want to increase the sustainability of your existing ones), there are a few ways CRE software like Quarem can help you maximize their desirability:
- Optimized buildings: identify where you’re consuming and spending the most in your building and make adjustments based on real-time occupancy data.
- Renewable integrations: coordinate long-term solutions like solar panels, efficient lighting and more with your maintenance team and tenants.
- Certified reporting: Seamlessly blend the metrics for your properties together into a single, easy-to-read report that can be accessed by whoever you want.
Regardless of which industries you’re invested in, if you’re a commercial real estate professional, you can benefit from adopting technology like Quarem. To see why this solution is a must for your portfolio, request a demo today.