Innovative Tools for Commercial Real Estate

Modern day commercial real estate (CRE) has evolved from more than just a face-to-face or word-to-mouth interaction. It now must find space in the digital and virtual world. Though residential real estate (RRE) was first to follow technology trends, CRE is now following in RRE’s footsteps and creating more efficient, user-friendly processes through innovative tools for commercial real estate for both agents and clients.

Digital

Online Technology

Websites
By analyzing website data, such as through Google Analytics, commercial real estate agents can find their most popular and sticky web pages and optimize those pages to best appeal to current and prospective clients.

Research shows that the most popular pages, (popular by having the most page views), are the property information, location, and photo gallery pages. The most sticky pages, (sticky as in pages that people spend the most time on), are the leasing, tenant list, and photo gallery pages.

Social Media
As many other industries have embraced the power of social media, including residential real estate, it is just as important for commercial real estate to take advantage of this tool. This way, they can build their brand, business, and network. CRE agents can find success in social media platforms like LinkedIn, Facebook, Twitter, and YouTube, as well as through blogging.

LinkedIn is the best way for CRE agents to stay connected and build a network with current and potential clients.
YouTube is a great tool to provide engaging content and information to existing and potential clients. These videos can include customer testimonials or highlights from grand openings.
Due to Facebook’s large popularity, businesses from all industries are using this platform, which equates to more potential clients. Also, it is a great platform to promote blog posts.
Twitter is a great platform for quick and direct communication. In recent years, Twitter has grown as a platform that people use to find news, so this is another great platform to promote your blog or share industry news and new listings.

Blogging is a great way for CRE agents to show that they are leaders by sharing relevant news and opinions about the industry.

Mobile Applications

Though mobile applications are new to commercial real estate, they’ve added great value through convenient, user-friendly platforms, which is essential for agents as they are constantly on the field and using their phones to conduct business.

Here’s a list of mobile applications for CRE:
• powerOne Financial Calculator (iPhone & iPad): Great tool to calculate while on the field, especially for down payments, interest rates, and payment schedules.
• Sitewise (iPhone, iPad, Android, & Blackberry): Provides demographics such as population, age, and spending patterns for specified locations.

Virtual

3D Technology

Not only is 3D technology visually appealing, but it is also a great tool to bridge the distance between agents and clients that are far from each other. Through processes like “Building Information Modeling”, 3D representations can be created to showcase properties in a new and intricate way from anywhere in the world.

The advancements in 3D printing seem to be never-ending. The most common use for 3D printing in commercial real estate so far has been to create quick, cost-efficient 3D building models. 3D printing also introduces the possibility to build in areas that are not as easily accessible, as large machinery won’t be necessary for building properties when 3D copies are available and easily transferrable.

If you have any tools that make your commercial real estate processes easier, share them below!

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