The commercial real estate industry has been notoriously slow when it comes to adopting new technology. Now that smart technology is more advanced, renters are used to the convenience. Even Baby Boomers are beginning to switch over to cloud technology and smart devices. Here are the three ways CRE is embracing smart technology, according to Nicole Brzyski at Coldwell Banker Commercial.
Smart buildings – The introduction of smart building technology is going to revolutionize the way that retail, office, and industrial properties are run. Instead of being managed by an onsite control room, smart buildings can be monitored and controlled over the internet thanks to cloud technology.
As for the main benefit of smart buildings, they help property owners utilize their energy usage more efficiently by detecting when people are in the room.
Blockchain – Thanks to built-in smart contracts associated with blockchain technology, money doesn’t change hands until both parties first fulfill their end of the agreement. This, combined with the increased transparency, reduces the likelihood of fraud when buying, selling, and investing in property.
Cloud technology – From mobile devices to software as a service (SaaS) platforms for marketing, customer relationship management, and market research, cloud technology has become a ubiquitous part of commercial real estate.
These days, contracts, client information, and other important info are all stored remotely and accessed through cloud servers by smartphones, tablets, and laptops. Not only does cloud storage and Internet of Things (IoT) devices make life easier by syncing data across platforms, it also means that you never have to show up to a meeting unprepared again – even if you’re notified last minute.
Excerpted from Coldwell Banker Commercial Blog