There are a few must-have tools that the modern commercial real estate broker simply can’t live without in today’s ever-changing market — a quality CRM, strong marketing tools, and the obvious communication tools like a cell phone and computer. But, what are the leaders in the space doing to really take advantage of the technologies available to them? What’s on the cutting edge?
From email sync to GIS tools, today’s commercial real estate brokers are taking a leap into technology to increase their productivity. Here are a few examples of how CRE is using business tools to power-up their brokerage.
1. GIS to Close the Loop on Data
A geographic information system (or GIS) is a system designed to capture, store, manipulate, analyse, manage and present spatial or geographic data. Commonly used to help businesses and real estate developers with site selection, today’s commercial real estate brokers benefit from adding this to their real estate toolbox. GIS can be found included in REthink’s product to allow brokers to visually search and manage data.
From standing apart from other brokers with truly robust, data-backed presentations to helping clients make sound decisions, having access to a GIS system can be true asset. Jim Klein, SIOR —an industrial real estate broker in Los Angeles— recently wrote a piece about the value of GIS in today’s market. It’s a great read.
2. Document Generation to Make Life Easier
Another powerful business tool for CRE agents and brokers is document generation in conjunction with your CRM. The ability to create detailed reports for top down visibility and detailed presentations for potential clients allows the CRE professional to streamline their business in a much more efficient way.
Gone are the days of needing one platform for deal management, one platform for lead follow-up, and yet another platform to produce the documents you need — top CRMs are solving this problem.
3. Email Integration to Streamline CRM
The CRM system has been an integral part of the real estate broker’s toolkit for years. It’s essential for keeping track of contacts, deal management, properties and more. But, today’s power brokers are taking it to the next level with email integration that can streamline the process — taking deals from initial contact to close with ease.
Systems like REthink easily integrate with email platforms to ensure all parts of the deal can be managed under one streamlined system.
As technology continues to impact the commercial real estate landscape, it will be interesting to see what new products are developed specific to this niche. Real estate power brokers would be wise to stay abreast of these trends, and to continue to test out and implement technologies that truly help grow their businesses. What’s working for you?