We're pleased to be named along side some awesome CRE tech companies by our friends at The News Funnel. Revolutionizing an industry is no small feat, and as we continue down this road to full transparency in real estate, we're constantly impressed by what others are doing to push the envelope. Keep up the good work, everyone!
How Technology Impacts Real EstatePosted October 8th, 2013 by FunnelCastOver the past decade, the role of technology has had a dramatic effect on our daily lives (business and personal). In more recent years, integrating technology with marketing and business tactics is hugely important and almost essential in today’s business climate – and the CRE sector is not immune to this technological revolution.
In a recent presentation, Cassidy Turley’s chief economist, Kevin Thorpe, outlined some of the ways CRE has been transformed by technological advances. Below are two points that we feel make a strong argument as to why we all need to pay closer attention to technology’s role in the real estate world.
1) Decreased need for office space. With the increase of internet connectivity and the advent of mobile devices like laptops, tablets, and smart phones, more business professionals are working from home than ever before. This evolution of the workplace has had a negative effect on CRE office transactions. Many companies that employ remote work forces, for example, have scaled back on office space in an effort to cut costs.
2) Online retail is creating new industrial opportunities. Retail is another CRE segment that has been negatively affected by technology. With the ever-increasing popularity of online retail, sites like Amazon and Netflix have replaced stores like Borders and Blockbuster. This transformation, however, has not all been negative. With online retail booming, there has been an increasing demand for industrial property.
While the CRE landscape may be changing, technological advances in the real estate business businesses are dramatically transforming the industry.
So what does this all mean?
It means that CRE professionals need to adapt and use technology to gain a competitive advantage. At FunnelCast and The News Funnel, we were born out of desire to give CRE professionals’ easy-to-use tech tools to keep them better informed on news impacting their business life. The News Funnel takes real estate news from hundreds of publications and blogs, and packages them into a single, customizable feed.
Check them out and embrace all of the powerful new tech tools out their in the CRE space.