Blog 4 of 4 in the 'How to Build a Data-Driven CRE Company' Series.
Before the pandemic, commercial real estate companies were already feeling the pressure to adapt to changes in the market. Now, with COVID-19 accelerating digital transformation in all industries, CRE owners and leaders have to decide if they will adapt to the changing times or remain stagnant.
There are two main benefits associated with adapting your business to the changes in the market. The first benefit is really more of a fact – adapting is less of a benefit and more of a necessity. We've seen what has happened to big-box retailers and video store chains that refused to adjust. So other than the desire to keep the lights on, firms that embrace change also have a distinct advantage. With modern technology, CRE leaders like you can find new opportunities within your portfolio in record time. Having access to information like prime sell and refi opportunities with just a few clicks will allow you to take advantage of opportunities when they are most fruitful for your firm. In fact, as the way we work and live changes at a record pace, technology is more critical for decision-making than ever before. With the help of technology, you'll be able to anticipate new geographic regions to invest in long before your peers. With this type of secret weapon, your firm can wield the kind of abilities that one could only dream of a couple of years ago.
So, how do you adjust your current operations and adapt to an increasingly data-driven world? By investing in modern technological solutions built specifically for commercial real estate, you'll be able to identify and capitalize on opportunities lightyears faster than before. If you implement the right tech stack into your CRE operations, you virtually eliminate the risk associated with manual data entry and analysis. Having the right asset management solution will give you quick access to key insights about your existing portfolio and industry trends so you can make informed, NOI-boosting decisions.
Lobby CRE is the technological equivalent of an unfair advantage for your portfolio. Our solution gives you the power to report on, visualize, and analyze your entire portfolio and the market at large in one platform. 