Technology continues to change our world at an incredible pace, and that most certainly holds true for the commercial real estate (CRE) sector. It is vital for commercial real estate investors to be aware of the technology that can help grow their business. But staying on top of ever-evolving trends can be daunting, even intimidating. And how do you know which trends are effective and which ones are a waste of time?
According to Harvard Business Review, the term disruptive innovation was defined in 1995 by Harvard Business School Professor Clayton Christensen. The term essentially describes an innovation that changes the game, and the list of CRE disruptors is growing fast. Here is a list of the top web-based services that may soon be a part of every CRE pro’s technology arsenal, according to www.cbcworldwide.com , “5 Don’t Miss-Disruptors in the CRE Tech Space.”
What CRE property owner couldn’t use more help in marketing analytics, lead management, document storage, and portfolio management? SharpLaunch offers a streamlined all-in-one marketing platform.
Virtual reality is now, well, a reality. Floored is a marketing and leasing tool that makes it possible for prospective tenants to immerse themselves in highly-detailed 3D floor plans and experience a space before ground is even broken on the site. The technology also makes it possible for clients to change layouts based on their particular needs.
IrisVR sits on the cutting edge of CRE technology by offering interactive virtual tours of a property. You’ve seen the headsets used by video gamers—it’s the same technology, allowing fully navigable, true-to-scale walkthroughs!
Reonomy’s database currently includes 40 million commercial properties, all searchable according to size, location, price, and more, allowing users to find what they’re looking for. Similar sites include CompStak, and REscour.
RealtyMogul, given an A rating by the Better Business Bureau, is an online marketplace, or crowdfunding site, for real estate investing and capital raising. Launched in 2013, it claims more than 100,000 investors—the minimum investment is $1,000—$250,000 total investments and a $55 million return on investment. RealtyMogul also claims to pre-vet its investment opportunities to minimize risk.
Disruptive tech evolves swiftly, so you can rest assured, this is just the beginning of an ever-changing landscape of CRE technologies. Those wishing to stay on the forefront of the industry may want to embrace an early adaptor mindset when it comes to this wave of game changers.
To stay abreast of all the latest—not just in tech but in property for buy, sale or lease—call or visit Coldwell Banker Commercial Group online. There you can search area properties by geographical area, property size, use, and type of lease or sale, plus detailed information about the property, along with exterior and interior photos, estimated taxes, common area maintenance charges, and more. And you’ll stay abreast of the latest tech to keep you at the top of your game.