Commercial Real Estate Technology Trends

The real estate business is no exception to the rapid changes taking place in all industries and now has become more technologically advanced. What new real estate technology innovations can property managers offer? Technological advancement and access to more effective tools. What does this mean for property managers? What are the marketing and IT benefits for real estate?

The leading trend in realty technology for the future predicts a future in which the realty IT industry will lead the market and play an important role. Brokers are still using desktop-based systems a majority of the time. Clients find it difficult to communicate with and share information between agents. It is also slow and there is a possibility of losing customer data due either to software malfunction or hard drive failure.There are some Video interview with Kurt Uhlir, Chief Marketing Officer, Showcase IDX .

Additionally, smart devices are increasingly available and brokers will be forced to use web-based apps. Mobile app technology trends point towards the need for more real-estate IT solutions for tenant screening. If you are wondering what the latest technologies are impacting real estate markets, you might have heard of Artificial Intelligence and Mobile App Technology Trends. Artificial Intelligence refers to computer programs which feed real estate data to make decisions about tenant selection and also about the property location. This technology is similar to Google's use for analysing websites and consumer behaviour. Apple is working on artificial Intelligence smart phones, which will allow it to filter mobile phone traffic in order to provide relevant search results.

Another real estate IT innovation is that of tenant experience platforms. Tenant experience platforms have evolved to help property managers collect information from tenants about the quality of their properties, and then to use that information to make better selections. The platform collects information from tenants, including energy consumption, noise levels as well as proximity to a gym, parking spots, and other amenities. After collecting the information, the platform compares it to real estate criteria like price, neighborhood size, and others and suggests ways to improve the properties. This technology is being used by many property management companies across the nation.

Google, on the other hand is believed to be working on Project Zero. The project involves gathering data from Google Fiber, which will be used to improve public transportation systems and make realty developments more user-friendly. Google Fiber is still under development, but if successful, it will be a major player within commercial real estate technology trends. My blog has more information about these projects.

There are some real estate software trends that allow online tenant payment processing. Although most apartment tenants pay their rent by credit card or e-check, this is likely to change in the future. Brokers must create their own system that can handle tenant data from multiple sources and integrate it into the financial analysis they do in order to implement this new payment option. This new payment option is expected to become more popular among tenants. It will take time for these online payment solutions to gain acceptance, but as with all technology, there will always be a place for it in the real estate world.