Mobile technology and commercial real estate
We talk a lot about mobile apps for agents and brokers and how they affect residential real estate. Well, we may not come right out and say we’re speaking directly about residential real estate, but the notion is implied when we mention “first-time homebuyers.” We talk so much about residential that we sometimes forget that commercial real estate also has a stake in iPhone app development and technology advancements in general.
Are there mobile apps for commercial real estate?
Technology innovation on the commercial side of the market has been limited. However, technological advances in the commercial real estate sector have accelerated exponentially in the last few years. According to National Real Estate Investor, “More CRE tech companies are introducing more new platforms and tools than ever before, and even the most ‘old school’ real estate professionals are realizing how critical technology is to every phase of the real estate lifecycle.”
Why mobile apps and commercial real estate haven’t gone hand in hand
With the economic recovery in full swing and money flowing back into commercial development, some of these roadblocks have been lifted and the market is, once again, ready for new entrants to build upon the work of the early pioneers in commercial real estate technology.
Residential tech tools vs. commercial tech tools
Companies like Zillow, Trulia, Realtor.com, RedFin and StreetEasy showcased the power that technology can have when applied to market as large and lucrative as residential real estate. However, products and services addressing the commercial side represent an opportunity for a few key reasons, according to Tech Crunch:
- Higher transaction values mean there’s more at stake for the players involved.
- Single transactions often involve multiple constituents — property brokers, mortgage brokers, lenders, developers, appraisers, builders — each of whom want an edge.
- There’s lots of relevant commercial data available to parse, which naturally plays into the wheelhouse of skilled data scientists and tech entrepreneurs.
- Broader diversity of funding sources creates newfound opportunity for pricing and product optimization.
- The market is antiquated and grossly underdeveloped.
A customizable option
If you’re a real estate professional who is seriously looking to engage clients in the new year, we’ve got a great option for you. Here at SnApp Real Estate, we are an experienced real estate mobile app development company that promises to build you high performance real estate mobile apps. Our apps will help you streamline your business and connect with clients easier, not to mention they are truly affordable.