Commercial real estate, as an industry, has traditionally been slow to adapt to new technology. From brokerage to development to investment, the processes have been relatively static (and heavily reliant on good ol’ fashioned paper), but CRE is finally starting to embrace the efficiencies technology affords, and at Tributary, we aim to lead the way.
While we’ve already made the shift to using tablets and iPads rather than printed packets to lead potential investors and tenants through walkthroughs of available developments, we’re in the process of making an even bigger transition that we believe will allow us to better serve our clients. Tributary is going completely paperless.
According to Real Estate Tech News, technology start-ups are increasingly realizing the latent potential in the CRE industry as firms like Tributary look for ways to modernize practices. As a result, we’re seeing more in the way of new solutions geared specifically to the needs of the CRE industry:
- Lending marketplaces – We’re increasingly seeing marketplaces expanding beyond residential real estate and connecting commercial investors to lenders, and exploring new ways to secure funding.
- Property management platforms – These platforms are shifting toward CRE properties, including multifamily developments and office buildings. Similar to residential property management platforms, the user-experience focuses on real-time updates, and provides information on things like maintenance requests and a property’s operating income.
- CRE-specific analytics platforms – Investors are now able to analyze countless aspects and trends within a property or business’s data, resulting in more informed investing decisions.
- Investment marketplaces – These online marketplaces are making it easier for lenders to connect with borrowers looking to invest in properties.
- Improved listing and search functionality – As the search criteria become more specific to our needs, it’s expediting the process of finding and sharing properties that are a fit for clients.
While all of these technological advancements shifting to serving the needs of CRE brokers, investors and developers, we’re entering an exciting time for our industry. Rest assured, your Tributary team will always be on the lookout for ways we can provide more tailored solutions and streamlined services.