CRE Technology: What’s Worth Investing In?

Whether you’re new to commercial real estate ownership or you’re looking to become a more tech-friendly owner, it’s worthwhile doing your research on the different technologies available. Since often time these technologies come with a steep price tag, determining what’s worth your investment is critical.

From marketing technologies to commercial real estate analytics tools, we’re here to help break down what’s available and why you should consider it going into 2023.

Building Information Modeling (BIM) Software

BIM Software helps with architectural design, engineering, and construction management. This software offers 3D design and modeling, which helps optimize work of designing different construction projects. Because BIM models are visualizations of a project from conception to completion, the project can be completed more efficiently and with less environmental impact.

Marketing and Leasing Platforms

The options are endless with marketing and leasing platforms because this can range from listing management to email campaign assistance. One of the more popular deal management software designed specifically for commercial real estate is Apto, a CRM software that helps CRE brokers manage contacts, properties, listings and deal. It assists busy brokers with prospecting and marketing, too.

Another notable software is FlippingBook, a publishing platform that coverts PDFs into lifelike online flipbooks that allows you to embed videos, images and links, and even comes with analytics capabilities. This could be a good way to feature a commercial property for new tenants and actively see how engaged they are with the real-time open notifications.

Virtual and Augmented Reality

The presentation of your commercial real estate listings is just important as the property itself. The level of professionalism that is portrayed on its listing copy and images could make or break a deal. Enter, virtual and augmented reality. Companies in this space can utilize virtual and augmented reality to stage listings, edit photos for clarity, replace dry lawns, declutter a property, add a sunset and so much more. Our favorite in this space is Phixer, who we recently did a webinar with.

Property Management Software/ Data Analytics and Visualization Tools

And all-in-one commercial property management software like STRATAFOLIO helps owners and operators in 4 major area: asset management, operations management, investor management and finance management. Designed to help you grow, STRATAFOLIO connects to QuickBooks to integrate all of your portfolio into one visual platform so you can see your data like never before. This property management software can help with:

• Lease Escalations and Alerts
• Automations for ACH payments, rent roll creation, work orders and CAM reconciliation
• A view into your portfolio from the top-level down to a single unit.
• Investor management with reports to track cash-on-cash return, income, expenses and more.

The list can go on and on of what’s worth investing in for your commercial real estate business, so we implore you to do your research and find the best fit.

Get started today with your new property management software by contacting us for a one-on-one demo.