While commercial real estate leaders are concerned about inflation and possible recession, Proptech developers offer ahead-of-curve solutions that will help CRE businesses survive and thrive no matter their current social-economical background. Learn what real estate Proptech solutions are trending now and how you can benefit from them.
Adopting a real estate agent CRM system is a strategic move for staying competitive, as it offers advanced solutions for managing client relationships, streamlining transactions, and driving business growth in the evolving real estate landscape.
What is Proptech, and what makes it a fast-growing niche?
First, let’s settle on what that new buzzword “Proptech” means. It stands for Property + Technology, meaning tech innovations that automate and transform the real estate sector. Proptech software or applications help accommodate various real estate companies and property startups in the new technology-centric reality. The Proptech industry aimed to optimize and improve various aspects of the real estate business, including:
- Property management;
- Accounting;
- Property marketing;
- Communication between business and customers;
- Booking services;
- Leasing;
- And much more.
Using traditional and outdated business approaches will slow down your growth and make your business seem invisible among competitors, whether you’re a large-scale commercial real estate company, a B&B facility, or real estate entrepreneurs with small property networks. The property Tech sector is on the rise, meaning we can expect more out-of-the-box solutions to help companies optimize their workflow, automate tedious tasks, and get the right tools for expanding and growing.
How can you apply Proptech innovations for commercial real estate business?
Let’s look at some examples of property tech solutions that the CRE sector can utilize and take advantage of.
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Travel booking systems
We all have used Booking.com or Airbnb app. That’s examples of world-leading travel booking platforms that allow users to search, compare, and book travel-related services and accommodations. Such software offers:
- flight and hotel filtered search;
- price comparison;
- secure online payments;
- reviews and ratings;
- and real-time updates.
Some Travel & Hospitality booking systems focus on a specific niche or provide unique services, from housesitting options for the luxury estate to the glamping network in Scandinavia.
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Property Management Systems
PMS or property management systems are software designed to streamline and automate property management tasks and operations for hotels, apartment buildings, commercial and industrial fasciitis, vacation rentals, and others. PMS is a must-have tool for owners and property managers to efficiently facilitate tenant/ guest interaction and handle crucial business operations. The key PMS features include:
- Maintenance and housekeeping management;
- Rent collection and booking management;
- Digital leasing system;
- Automatic online payments;
- Property marketing tools;
- Inventory management;
- Accounting tools;
- Tenant communication portals;
- Reporting and analytics tools.
PMS products are highly beneficial for tenants, property administration staff, and owners, allowing them to create effective and optimized CRE business, improve communication between parties, and help executors make data-driven decisions.
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Smart home devices for commercial property
Smart homes are mostly associated with private real estate. Yet, utilizing smart home technology for CRE takes property management to a completely new level. The IoT devices and systems offer numerous benefits to tenants, property owners, and managers, including:
- Energy consumption management with smart thermostats and lighting systems;
- Security enhancements with smart locks, surveillance cameras, and remote control systems;
- Maintenance monitoring and tracking in real-time;
- Remote smart device management from the app;
- Personalization setting for tenants.
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Coworking search platforms
With the remote working style becoming more popular over the years, demand for coworking spaces has spiked among freelancers, startups, established companies, and remote employees. Coworking search platforms create a network allowing users to connect and find the best-suited working space depending on their specific needs and preferences, from two-hour-long solutions with scenic views to long-term conference hall rentals. Coworking listing platforms and apps usually include the following features:
- Location-Based Search;
- Facility and Amenity details, such as Wi-Fi, meeting rooms, coffee areas, and printing services;
- Pricing and Membership Options.;
- User Reviews and Ratings:
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Digital property marketing tools
Proptech utilizes cutting-edge technology, like 3D rendering, AI-driven tools, and AR and VR tech, to elevate digital property marketing. Such solutions allow business and real estate agents to reach a wider audience, generate leads, and showcase new listing and under-development projects in the digital environment. The ahead-of-curve digital marketing systems and tools feature:
- Vurtla tours and 330 walkthrough videos to showcase property remotely;
- High-quality CGI and videos to promote under-construction projects;
- Listing Syndications tools;
- Effective lead generation and management;
- Social media integrations and targeted advertising;
- Smart analytics tools.
With optimized marketing modules, Proptech solutions help real estate agents and business owners make data-driven decisions, improve marketing strategies, and introduce innovative advertising approaches.
Revolutionizing CRE with Proptech solutions
Commercial real estate sectors gain numerous benefits from adopting cutting-edge Proptech solutions to their workflow.
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Enhanced communication
Fostering transparent interactions and communication s essential for any business. Depending on your niche, you can improve tenant-landlord communication, collaboration among property development teams, and interactions between property administration staff and owners. Through digital platforms, all stakeholders can access the latest property information and updates, ensuring everything runs smoothly.
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AI-driven marketing
Utilizing Artificial Intelligence marketing tools gives you can empower your business with predictive analytics, automated Ad campaigns, personalized recommendations, and high-profile lead conversions.
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Automation of business processes
Property management requires time-consuming and tedious tasks. You spare more time for high-priority tasks and minimize human errors by automating several business processes, like billing, online payments, maintenance checks, and paperwork.
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Remote property management and control
Control the smart home devices, inventory management, maintenance and housekeeping schedules, and more business operations remotely or even from your mobile device.
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Centralized data
Proptech solution offer simplified data collection, storage, and access, ensuring all your affairs are in order.
The bottom line: Should you utilize Proptech tools for commercial real estate business?
By adopting Proptech software solutions, you reduce office maintenance costs, automate and centralize crucial business processes, and gain the power to expand the business to new horizons. Embrace the new technology-driven reality, and upgrade your commercial real estate business with out-of-this-world property tech solutions that will keep your ahead of the curve and drive your company to greater success.
