Tag archive for "Commercial Real Estate Technology"

What is Compass and Why Is It In the News?

What’s Compass and Why Is It In the News?

Functioning like a traditional broker, Compass marries agent and buyer needs with today’s technology, reducing the time and friction commonplace in real estate selling and purchasing. According to company founder Ori Allon, Compass aims to make the experience more “transparent, convenient, expedient, and intuitive” for all parties involved.

Interesting advantages
Closely resembling Redfin in its infancy, Compass offers cutting-edge tools for both agents and consumers.

For agents…
Much of the software Compass offers to agents exists in other forms. However, its services are said to include “proprietary agent technology,” including:

• An agent-only app, touted to reduce the necessity of traversing multiple platforms, and instead replacing them with Compass’ “one-stop marketing, property valuation, and open house capabilities.”

• A valuation and CMA tool allowing agents to “value properties better than any tool in the country.”

• A listing strategy tool complete with insight into which month might be best for listing, and best pricing strategy by month.

• Dynamic, “national real-time market reports” versus “stale” quarterly reports commonly found elsewhere.

• The ability to create high-quality collateral in seconds via their proprietary open house and “show sheet” tool.

For consumers…
Buyers and sellers can search for standard metrics such as bedrooms, bathrooms, or lot size, but may also search more advanced metrics like days on the market, peruse a year-over-year analysis of median price per square foot, or gain insight into negotiability.

Service areas
Compass currently has a presence in Washington, DC, Miami, Boston and Cambridge, the Hamptons, Aspen, Colorado, and the California markets of Beverly Hills, Malibu, Pasadena, and Santa Barbara. According to company reports, its real estate selling through the site equates to about $7 billion annually.

Looking for someone to point you in the right direction when it comes to meeting your real estate selling and marketing needs? Properties Online has you covered, with the latest news, tools, and technology. Discover more today.

2016 Real Estate Trends: The Move Towards Online Real Estate

Has 2016 Delivered on the Projected Commercial Real Estate Trends?

Trends are emerging that will disrupt “business as usual” in the commercial real estate market. Dropped your crystal ball? No worries – we’ll fill you in…

Time’s they are a changin’ – redefining this market segment and plotting a new course:

• More general development
In this sixth year of recovery, office, industrial, hotel and residential development are expected to grow as the economy shapes-up, interest rates increase, and access to financing widens.

• Retail stalls, warehouses boom
As e-commerce continues to change the landscape with faster delivery options and the rise of online shopping/in-store pickups.

• Autonomous vehicles and car sharing
Could transform real estate markets – and parking situations. This includes drones and driverless vehicle technology.

• Flexibility is key
The process of identifying space to meet consumer needs (variable schedules, shifting calendars, shared space) will be accelerated due to high demand. Real estate owners should be looking to form partnerships with these shared providers.

• Multi-tasking environments will be in huge demand
Places where people can work/live/play 24/7 – on-site and without the 30+ minute commute. And this re-urbanization is underway globally.

• Rising capital investments
As institutional investors strive to take advantage of these changes and boost portfolios. Mergers/acquisitions will rise, and REITs could go private through buyouts.

• Customer migration to online real estate shopping, sales, and more
Tenants/customers looking for better, faster service will rely on the Internet for more data access (i.e.: who has the space they’re looking for at the best price), as well as the streamlining of property operations (hint: controlling heating and air conditioning systems/costs are only the beginning). Real estate owners must start investigating ways these evolving technologies can improve interactions with tenants and customers now if they want to ensure future success.

Don’t get stuck in the past, look into the future of commercial real estate. Take advantage of the next generation of real estate sales technology. Grow with the changing world with Properties Online today.

Gotta Love The Texting Generation! How to Give them More

Today’s text-crazy customers can’t get enough of this super-fast mobile communication platform. How can you merge real estate and technology together to give them more of what they want, faster and more reliably than your competitors? With Smart Lead Capture.

What’s so ‘smart’ about it?

Properties Online’s own proprietary Smart Lead Capture (SLC) is an all-new platform designed to give real estate pros the ability to connect with and capture mobile leads – fast. All that potential buyers need to do is text for more information listed on the sign riders of properties available for sale or rent.

Am I too dumb/smart enough to figure it out?

Many in the industry tend to break out in cold sweats at the thought of real estate and technology merging, but it’s not rocket science. SLC is simple and easy to implement, and even better – FREE with Listings Unlimited.

How does it work?

Your account will be assigned its very own unique Smart Capture Code (for example, PetesProperties) for use with 9-sub codes (PetesProperties 1-9). Attaching these codes to your sign riders and other media will enable the creation of multiple marketing campaigns, giving today’s thumb-happy generation the ability to contact you quickly and easily for details – and providing you with essential prospect contact information. Once the text is received, you’ll receive a Lead Alert, with the ability to send an automatic response based on personal user settings, providing on-demand text information, and allowing for fast follow-ups that cinch sales. Easily stay in touch later on with single or mass marketing blasts via Message Scheduler.

Want to see it in action?

Send a text message to 54561 and enter P102 in the message field and witness how fast and simply SLC can work for your business.

Be an industry leader in the real estate and technology race. Find the fuel you need for success, only with Properties Online today.

Commercial Real Estate Industry Lags in Embracing New Technology

A report compiled by Altus Group, a Canadian information technology (IT) firm, recently found the trillions of dollars invested in the global commercial real estate market are being processed with grossly outdated technology at risk for human error and inaccuracy. Though real estate trends have shown an increase in new commercial real estate capital, it has apparently NOT been funneled into upgrades.

Error 404 Commercial IT Doesn’t Exist
Dollars have been invested instead in other tech, such as smart building technology, automation systems, and improved energy efficiency. All the while the roughly $11 trillion in commercial real estate investments worldwide are handled manually via spreadsheets.

Warning: Parental Controls Have Blocked this Site
This inherently manual system introduces not only the element of human error, but lack of visibility through data silos – stifled, lost, or overlooked information resulting from a poor data management system that makes real-time data comparison for professionals nigh impossible.

Improper Bandwidth
Compared to the healthcare and finance industries, commercial real estate investment in IT is falling woefully behind the times. How far? The industry is struggling to efficiently absorb it’s huge interest – upwards of $500 billion this year alone in new capital.

WARNING: Your IT Has Not Been Updated in 3,650 Days
Though the appetite for IT investment exists, committing to it over asset acquisitions and networking will be the challenge. In Canada, home of the study, a push is being made to synchronize data across a single platform countrywide so brokers can share information, thus combatting inefficiencies in the system which are currently preventing access to tangible, essential information central to commercial real estate services. Its completion date, however, is unknown.

Is your real estate business running on MSDOS while the competition is sporting Windows10? Stay up on the latest real estate trends and upgrade your future success with the help of Properties Online today.