Six Tricks to Rolling Out CRE Tech Initiatives in Your Company

Bringing a new technology platform into your company can seem like a daunting process. It requires time and trust from team members who have their own priorities and deadlines.

Even so, there are hidden costs to waiting to adopt technologies that could increase your productivity and profitability; costs that more than negate any potential discomfort of making a transition. At the end of the day, you need to help your team embrace new platforms and tools rather than avoid them.

Here are six best practices for rolling out CRE tech initiatives in your company.

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5 Questions CRE Owners Need to Ask Third-Party Property Managers

Reducing operating expenses by even 1% or increasing rent by just 1% can lead to serious value creation over time for building owners. The key is increased efficiency and faster, smarter project execution. Of course, the process of turning those goals into reality isn’t without challenges.

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Why Your Real Estate Firm Needs a Cross-Functional Technology Committee

An IT team is a vital part to any commercial real estate organization, acting as the backbone for any technological initiatives. But despite the team’s deep knowledge, it doesn’t have a boots-on-the-ground role when it comes to a building’s daily operations.

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5 Thoughts on How CRE Tech Might Fare in 2016

Last year was a banner year for commercial real estate technology. If you missed the highlights, get up to speed here, here and here. Then 2016 arrived, bringing signs of distress in global capital markets and questions about the impact on commercial real estate. The multifamily sector and development in major downtowns appear strong, but growth elsewhere verges on stagnant.

How will nascent turbulence in the industry impact CRE tech in 2016? Here are thoughts from five industry leaders on where CRE tech is most viable and where it might stumble.

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CRE Tech Has Nothing to Do With Tech and Everything to Do With People

Between executive dashboards, backend databases, open APIs and software stacks, you'd be forgiven for thinking that CRE technology revolves around, well, technology. You'd also be wrong—mostly wrong, anyway.

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The Dangers of Decentralizing Your CRE Portfolio and Project Data

It's not a good idea to keep all your eggs in one basket, or so the saying goes. But what if you need to count, compare or analyze those eggs? We won't run too far with this analogy, but think about it for a minute: imagine that each important data point, document and conversation impacting your portfolio is an egg and those eggs are scattered across different nests, coops, frying pans and supermarket shelves.* How can you possibly make sense of them? How can you harness your data to drive down costs and drive up Net Operating Income?

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Six Pitfalls of Excel in Commercial Real Estate Project Management

Spreadsheet software Microsoft Excel recently celebrated its 30th birthday, and for the majority of its existence, has been the industry standard in addressing businesses’ statistical, engineering, and financial needs. However, its capabilities remain limited, and the software wasn’t originally designed to perform for today’s tremendous collaboration—an environment in which the commercial real estate and construction industries thrive.

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JLL, CBRE And Colliers Prove That CRE Technology Is The New Standard

In property and facilities management, three factors keep building owners happy: an efficiently run asset, high tenancy, and low operating costs. When all three are in play, properties can often achieve higher rents and positively impact an owner’s bottom line. Building owners have two choices in achieving these goals: develop property, facilities, and leasing management capabilities in-house; or hire a third-party real estate services firm.

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These CRE Tech Platforms Are Eliminating Layers of Cost From Traditional Real Estate Operations

Today's commercial real estate (CRE) tech companies are aiming to reduce traditional barriers to funding, relieve the burden of capturing and catalyzing Big Data, and remove friction points from team collaboration and project management workflows. In the process, CRE tech platforms purpose-built for the industry are eliminating entire layers of cost that were once thought to be unavoidable in traditional real estate operations.

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7 Need-To-Know Security Considerations When Adopting CRE Tech

Commercial real estate is increasingly getting on board with the software distribution model, in which applications are hosted by a service provider and made available to users over the network, typically the Internet—i.e., “the cloud.” Many real estate technology applications are also Software as a Service (SaaS) platforms, including Honest Buildings, VTS, Hightower, CoStar Real Estate Manager, and SiteCompli. Other well-known applications are Microsoft Office 365 and Salesforce.

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