In today’s rapidly evolving world, tech in real estate is reshaping the commercial real estate (CRE) industry, creating new connections and efficiencies previously unimaginable. Here are the latest trends and companies at the forefront of this digital progression. In today’s world there are many established and budding real estate technology tools to ai

Real Estate Tech Trends Reshaping CRE:

1. Property Intelligence Drives Efficiency: The advent of property intelligence platforms like Reonomy has revolutionized how businesses swiftly access crucial property data. From ownership details to sales history, these platforms empower CRE professionals to make informed decisions efficiently.
2. Machine Learning Enhances Profitability: Machine learning algorithms automate tasks once reliant on human input, streamlining processes like document analysis and proposal generation. This frees up time for CRE professionals to focus on core business activities, boosting profitability.
3. IoT Facilitates Informed Decision-Making: The Internet of Things (IoT) provides real-time data insights, from energy usage to security monitoring, enabling smarter decision-making by property owners and managers.
4. Efficient Leasing through Software: Innovative software solutions are revolutionizing traditional leasing processes. Online scheduling, smart locks, and automated background checks simplify the leasing journey for tenants and property managers.
5. AR/VR Transforms Property Viewing: Augmented and virtual reality technologies offer immersive property viewing experiences, eliminating the need for extensive travel and enhancing collaboration among investors, contractors, and brokers.

Leading CRE Technology Companies:

1. Prospecting Technology:

• Reonomy: Offering a comprehensive web app powered by AI, Reonomy facilitates lead generation and business expansion by providing detailed property insights across the U.S.
• AscendixRE: Tailored for CRE brokers, AscendixRE offers a CRM platform integrated with Salesforce and Dynamics 365, simplifying deal management and prospecting.

2. Project Management Technology:

• Honest Buildings: Designed for commercial real estate owners, Honest Buildings is a real estate tech company that offers a transparent project management platform that fosters stakeholder collaboration and data exchange.
• BuildingConnected: Providing cloud-based bid procurement services, BuildingConnected streamlines bid invitations and subcontractor qualification processes.

3. Building Technology:

• Latch: With its smart lock solutions, Latch enables remote property access and guest management, enhancing convenience for leasing and sales activities.
• Mach Energy: Mach Energy offers energy management software for commercial buildings and analytics tools to optimize energy usage and increase building value.

4. Leasing/Sales Technology:

• VTS: VTS offers a cloud-based real estate technology platform for asset managers and leasing teams to track deals and manage space efficiently.
• LEVERTON: Leveraging AI, LEVERTON efficiently extracts data from corporate documents, facilitating international transactions with multilingual support.

5. AR & VR:

• Oculus Rift: Widely adopted for immersive property tours, Oculus Rift’s AR/VR headsets reshape how investors, contractors, and brokers interact with real estate assets.
• Floored/CBRE Build: CBRE acquired Floored, which offers 3D visualization tools that empower stakeholders to visualize and plan spaces effectively, enhancing collaboration and decision-making. 

Conclusion

Commercial real estate technology unlocks unprecedented opportunities and efficiencies. As these trends evolve, embracing innovative solutions will be pivotal for staying ahead in this dynamic industry.