The Great Potential of CRE Technology
By: Hadley Evans, Engrain
When you imagine the potential for great advancement in commercial real estate, it will be the implementation of new technology that leads to the
realization of that potential.
The evolution of technology has already had a profound effect
on real estate. It used to be that brokers would knock on doors
or gather together to share information on property value and
comparisons. The first broker gatherings of the late 1800s were,
essentially, the first Multiple Listing Service (MLS). They
offered real estate brokers invaluable access to information, not
all that different from the information used by those currently
in the industry. It is no secret that success in real estate comes
from confidence, and that confidence is gleaned from having
the very best industry tools and information at your fingertips.
Current technology makes that information universally
available and easy to digest. Our constantly connected
society expects relevant data…and they expect it now. If you
consider the huge success of resources like Zillow, Trulia, and
StreetEasy it is an easy assumption that our clients are walking
through the door expecting ready access to relevant data, and
furthermore, they have a desire to drive that search.
Everyone is an expert (because Google is available on every
smart phone). The key is to provide an avenue through which
your prospective tenants can travel intuitively toward your
property. You can achieve that kind of easy success through an
investment in technology.
Before it was physically present, technology was already
dramatically shaping our industry. While the implementation