Roughly, eighty percentages of tycoons point their monetary victory to real estate, of which commercial real estate takes so much of weightage. According to DC Fawcett Technology directly persuades production functions in commercial real estate, which in turn scales up the efficiency of the factors of production which includes land, labor, capital and entrepreneurship. Having said that, this is very much reflected in the application of technology to the production and function of real estate! In several studies the most significant demonstrations of technology in real estate have been highlighted which includes:
- The progress of new and enhanced consumer goods
- Shipping technology
- The construction technology
- Financial engineering
- Innovations in manufacturing systems and
- The growth of the internet.
Intensifying Competition on all Fronts:
Almost every aspect of Investing, fundraising and enlisting in corporate real estate is changing because of the escalating competition. The substantial investment invasion keeps afloat by low interest rates and explosive nature in the equity markets has paved way to remarkable rise in demand, thereby causing prices of commercial properties to get to soaring levels. In that event, competition has never been fiercer and it has been scaled up for fundraising. Institutional investors including banks, insurance companies, pensions, hedge funds, REITs, investment advisors, endowments, and mutual funds show concern only on the firms with the supreme best yields. With greater emphasis on better tools and visibility, if truth be told, there is also a combat for flair. Furthermore, with growth in the corporate real estate asset class, the complexity grows thereby creating a demand for elevated skill-set next generation leaders together with an expected change in the work environment.
Real-time data access demand:
When it comes to data and analytics, there is an elementary modification in expectations. Even though corporate real estate has always been data driven, as far as data and analytics is concerned, it’s been practically unattainable to cumulate and scrutinize that data at scale from isolated ERP systems and databases which is otherwise known as siloed ERP. Correspondingly, depicting portfolio-wide abstracts may call for hours of labor-intensive data aggregation together with a team of expert analysts.
With all that said, as a matter of fact, technology has by now transformed other industries – by means of better access to data and analytics, radically guileless user experiences, mobile applications and currently it’s gradually starting to have an impact on Corporate Real Estate as well.
DC Fawcett VREIC is far and wide familiar as the leading creative thinker on real estate trends; impacting the real estate entrepreneurial dealing. The virtual real estate investing club is its hub where so many have benefited as a successful realtor. He has held a number of seminars which throw light on demanding real estate concepts. For more details, stay updated to his blog and read his articles to know how to get into a realty dealing which is scam-free.