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Why Proptech Software is Essential for Real Estate Developers in 2023
CBRE recently published a dismaying long-term outlook for the commercial real estate market. The organization’s researchers believe record inflation, interest rate hikes, and an impending recession will lower asset values and diminish investment and leasing activity this year. The firm expects all property types will see a 5 to 7% value drop while funding volume…
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Don’t Take Your Foot Off the Gas: Why CRE Developers Shouldn’t Slow Tech Adoption
The coronavirus pandemic was a turning point for technology adoption in commercial real estate. Most development companies (78%) reconsidered their technology strategies, embraced modern digital solutions, and invested in analytics programs, smart management tools, automation, and cloud-based software platforms. The last few years have seen historic progress in an industry with a reputation for being…
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How Historical Data Can Help Your Real Estate Firm Overcome an Economic Downturn
Traditionally, the real estate market has a four-phase cycle: recovery, expansion, hyper-supply, and recession. After enjoying a boom in 2021, the U.S. economy’s mounting uncertainty has recently pushed the sector into the low end of the cycle. Skyrocketing interest rates and declining lending activity have caused deals to fall apart and made launching new projects…
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How Real Estate Project Management Software Helps Decision-Making
Anyone involved with commercial real estate knows that projects require razor-sharp planning and flawless execution to be successful. So why are developers still clinging to a project management methodology that involves tools and practices that became outdated in the 2000s?
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How to Avoid a Bad Commercial Real Estate Software Implementation
The right software can have a transformative impact on a company’s project outcomes. By integrating a platform built to service your vertical’s specific needs into your workflows, your firm can reduce overhead expenses, cut costs, and reduce the amount of low-value tasks that your team spends too much time on. However, bad software implementations are…
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How Real Estate Project Managers Can Mitigate Cost Overruns in 2023
The commercial real estate sector looks to be on course for a challenging year in 2023.
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What the Housing Market Slowdown Means for Real Estate Developers
At the start of this year, the American residential real estate market was red hot, with home pieces exceeding $400,000 for the first time ever in the second quarter. But rising inflation, a recession, and multiple interest rate hikes have cooled it off considerably. Multinational banks and market analysts don’t believe the segment will not improve…
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Is Inflation Anxiety Hurting the Retail Real Estate Market?
Earlier this month, Bisnow reported that foot traffic was down at U.S. grocery-anchored retail centers in the U.S. during the third quarter due to inflation. Retail industry analytics provider Placer.ai recorded a 3.93% decrease in grocery store visits in Q3. That trend could be troubling for the retail real estate market as grocery stores are…
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The Commercial Real Estate Software Developers Should Avoid Relying On
The best commercial real estate software can offer developers numerous competitive advantages, including reducing costs, streamlining workflows, and ensuring better project outcomes. However, investing in the wrong solution can cause severe problems like overcomplicated tasks, reducing visibility, and making the journey to a successful closeout harder than it needs to be. Unfortunately, marketing hype and…