5 ways technology is overhauling commercial real estate

source: Baltimore Business Journal; Alex Kopicki, Contributor

In the commercial real estate industry, it’s easy to get tunnel vision when racing from one deal to the next. Right now there is a major intersection between traditional commercial real estate and the fluid technology industry that will affect the way brokers and clients do business. Here are five things every commercial real estate professional should know about the shifting landscape:

• Mobile takeover: You know the importance of smartphones because, if you’re like me, you’re constantly on yours.

• A new way to work: Co-working continues to grow and is here to stay.

• Big data: This enables powerful decision-making. While data can’t predict the future just yet, big data can tell us the probability of future decisions, which can lead to actionable decision-making.

• Crowdfunding: It’s everywhere and it’s all about allowing investors access — mostly to opportunities previously reserved for a privileged few.

• The Internet of Things: This is a simple concept; it’s all about connecting everyday devices such as your home thermostat to the Internet. Why would you do this? The better question is: Why would you not do this? More connectivity leads to more control and customization, leading to more convenience.

To read the article in entirety at the Baltimore Business Journal, CLICK HERE.

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