Industry Insights

What to expect from CRE tech in 2017

January 4, 2017

To stay ahead of the curve and set your brokerage up for success in 2017, consider these CRE tech trends as we enter the new year:

More data access and integration

Access to property data is useful, but today, many data tools do not integrate across platforms. However, as more applications begin to work together and allow brokers to transfer their data from one tool to the next, there will be more opportunities to share and utilize public data in 2017. Buildout is one of several players that is bridging the data divide between platforms by creating a seamless experience that doesn’t compromise the integrity of your data.

Relationships, personality and drive remain the most important factors in broker success, so CRE professionals shouldn’t be afraid of wider access to market data. In 2017, we expect to see the industry shift toward a more open-minded approach to data sharing and access.

Better solutions to CRE problems

During the NAR Conference and Expo’s “Disruption is not a dirty word” panel, Buildout CEO Vishu Ramanathan had this to say on the topic of disruption in the CRE market:

“My definition of disruption is something that completely changes the market. There’s no point in being afraid of disruption because it’ll happen whether you’re afraid or not. It’s how we find better solutions to outdated ideas and systems.”

So how are Vishu and other entrepreneurs like him embracing disruption? Every day, tech innovators are thinking up new ways to modernize the CRE industry and help everyone at your brokerage be more successful. Tools like drones, virtual reality and 3D tours are coming into play and changing the way you traditionally operated. And this is only the beginning. We anticipate more new tools and technologies will hit the market in 2017. While true disruption may not come out of every development, many new and better solutions to CRE problems will emerge in 2017.

Promoting beyond your usual network

Technology allows brokers to show properties remotely and engage with buyers beyond their geographic area. And in an increasingly digital, engaged industry, with tools like virtual reality, 3D, digital advertising and social media gaining popularity, brokers can reach and connect with individuals on a national or international scale.

Tools like Matterport provide a 3D view of a property that creates an immersive experience for non-local potential buyers. Virtual reality and drone videos can also have a similar effect. In 2017, we expect to see more brokers couple tools like these with social media and digital advertising to pinpoint a target audience for each property and then deliver an experience that will make them feel like they’re on-site.

To help us gather more insights so you can benchmark your brokerage against others across the country in the new year, take our 2016 DNA of #CRE survey.

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