Technological innovations are continuing to take the CRE world by storm and are changing the way things are done in this industry. Commercial real estate has always been known to be the last industry to adopt new technologies, but lately we have seen a unique change in the industry’s implementation of technologies that are truly changing the way we work in CRE.
Here are five technologies that can help transform the way professionals work in CRE.
Drones have really become an impactful tool for commercial real estate professionals as they have become far more sophisticated. They can now be used to inspect roofs, survey land, and can be used for many other parts of both pre and post construction. Drones can also replace people like inspectors and site crews.
Both aerial photography and Google make it possible to look at a property or a site and conduct market analytics which can help investors and tenants select optimal locations for their businesses. This changes how much time brokers will need to spend taking clients out on property tours.
The Cloud has completely transformed how professionals in CRE work because it has streamlined a lot of processes. If a broker is out in the field and needs to access a file, it is possible to do so with the Cloud. No longer do professionals needs to be chained to their desks in order to accomplish a task. The Cloud also allows for greater collaboration among brokerage teams as everyone can work from documents housed in the Cloud and the info will be updated in real time.
Standing desks that are ergonomically sound are literally changing the way we work in CRE. Now professionals can stand or sit as needed and can adjust to the way they will work best. This type of technology helps maintain focus and can keep professionals from being sedentary at work.
REmaap is a technology that is saving CRE professionals time and effort for a range of CRE projects. The flexible web-based platform can help with:
- Vendor contract updates
- Transaction due diligence
- Equipment lease contract abstraction
- Basic lease abstraction
- Data migration/FASB readiness
REmaap is used for CRE & equipment lease abstraction, budgeting and forecasting, lease administration, automate letters of intent, due diligence and data migration and data analysis. This technology is geared to help large tenants and CRE professionals, REITs, family offices, large landlords, brokers and attorneys.
Technology is not going away and in fact, it will continue to make impactful changes to how we work in CRE and will not only help streamline many processes, but will also ensure more accurate data. REmaap is one of the many technologies that has helped sculpt the bright future of the commercial real estate industry. Try REmaap for free for 30 days and see how it changes the way you work for the better. See what our other clients had to say about our product too.