The popularity of urban centers for living and working has produced some major shifts in the CRE market. Companies are looking for amenity-rich spaces in buildings full of character to appeal to top talent, and mixed-use city neighborhoods are hot in markets all over the country.
It may have taken a while, but the CRE industry has begun to exploit the possibilities of technology, working more efficiently and with a more informed position than ever before.
Tech startups have turned their talents to CRE Tech in a big way over the last several years, and there are platforms and apps to address every aspect of the business. Venture capitalists have poured millions into companies developing tools to solve problems and increase efficiency in investment, property management, marketing, and the due diligence process.
As the expectations of our customers change, it’s become mandatory to incorporate technology into CRE wherever possible. It increases reach, speeds routine procedures, and ultimately improves service and performance overall. Some innovations stand out as particularly useful, and we discuss these below.
Blockchain technology may still in its infancy; however, the technology may have the potential to disrupt many industries. The debate over the potential uses and impact blockchain technology could have on the real estate industry is also heating up.