The New Reality of Commercial Real Estate

Jim Schoonmaker
Jan 14, 2021 6:03:34 PM

Did you know that a property listing that includes a virtual tour gets 87% more views than those that just show the photos? Now imagine how high that percentage would be if you offered more than just a tour but a collaboration experience where you allow tenants, brokers and owners to interact with you in real time while viewing the property. Throughout this blog post we dive into the new reality of commercial real estate, and why collaboration technology is critically important right now. 

 

COVID-19 has forever changed our landscape. The world is not going back to "business as usual," meaning that the way you show your properties needs to change. For the commercial real estate industry to be successful, we all need to embrace and adopt technology solutions. 

So the question is, how does your business re-energize and innovate the current CRE processes to increase activities? First, take a look at where tenants are looking now, where are they? Online. Where do you need to be to reach and collaborate with them? Online as well. 

Now, let us look at the current CRE industry with tenants, co-brokers, and owners. Are you currently sending your potential tenants just pictures of the property? Are you sending them a simplified virtual tour that the potential tenant has to look through? What happens when questions come up when the tenant is looking through the picture or the virtual tour? Are you able to answer those in real-time? Are you able to collaborate with their whole team, other brokers, and owners? If you are not, you are losing crucial time and information gathering to impact the tenant-decision process. 

The average person has an attention span of eight seconds, which is a second less than the average attention span of a goldfish. But why does that matter to you? You have eight seconds to capture a person's interest in a property. That means you need to be online, collaborating with the potential tenant to continue to engage them and keep their attention. By talking, directing people's attention, and answering questions in real-time, you can make sure you have that tenant's full attention rather than just pictures or videos of a property where there is no collaboration. Collaboration allows engagement, information-gathering, and advancing the decision-process. 

place.net sees an immediate gap in the CRE industry, a lack of ability to collaborate online within a secure, protected environment. Our collaboration platform has filled that gap to allow you to get back to business. We would love to give you a demo and show you how your commercial real estate market can take online collaboration to the next level.

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