Tyler Daniels Blog

What new technology is impacting the commercial real estate industry?

Posted: October 03, 2017 by Rebekah Holten

There is no use in resaying what one of my fellow agents posted, so here is a blog by Brandon about the use of video in real estate.  But, there is so much more technology that is changing the way we communicate with clients, sell real estate, buy properties, and find properties. This change has not only impacted me, but brokers, tenants, and investors alike.

First of all, tech companies are some of the biggest investors in Commercial real estate. Declining amount of office space means there is an increase in the demand and price of commercial office space. In 2015, technology companies had the largest share of leases 20,000 square feet and larger (http://www.nreionline.com/commentary/how-technology-shaping-cre).  They are no longer in just the large cities; they are coming to smaller towns where they can find qualified people.  As our college (Colorado Mesa University) continues to grow (it was at 8,000 in 2010 and now has an enrollment of 11,044 (http://www.coloradomesa.edu/about/facts.html) the number of qualified candidates increases and makes it a more desirable place for tech companies.  Denver is still obviously the place that most tech companies relocate to, but with the growth/ developing tech talent and people looking to relocate away from Denver, chances are good that Grand Junction will be on their list as a place to relocate or expand their companies. 

Since we at Coldwell Banker Commercial Prime Properties, like to stay ahead of the trends, we are adapting to the need of tech in peoples’ daily lives and integrating it into every aspect of our company.  Every new listing that we get automatically gets its very own website.  This allows the potential customer to get all the information they need on one platform where it is easily accessible and integrative.  How do we make it integrative: through videos of the listing, drone photography, Matterport virtual tours, and professional photography.  This not only keeps the sellers happy, but also entertains and creates more interest for the investor.  

These advances are great additions to the commercial real estate industry and I am excited to see it grow and expand in the upcoming years. 

Loading Comments