While the commercial industry was already on the road to becoming a tech-dominated business, this year has seen the transition happen at a pace never imagined.
What was even more unthinkable was the motivating factor pushing the sector towards digitization. A global pandemic, country-wide market closures, and new social distancing protocols have quickly become the world’s new normal in 2020.
These factors made it impossible for any profession to upkeep business as usual, and as the future became increasingly hazy, the choice was clear: either migrate online, or you won’t make it.
CRE was in a particularly tough situation. This profession is all about people, and many of the normal transaction protocols demanded in-person interactions between buyers, tenants, sellers, and agents. In order to keep their businesses running smoothly and efficiently, commercial real estate players needed to adopt strategic solutions as they reconfigured their game plans to accommodate the sudden change in environment.
Fortunately, PropTech is streamlining the new virtual CRE model. To help make the digital transition as seamless as possible, our team at RealNex is sharing our list of must-use tech tools for commercial agents right now.
Digitize the Paperwork
CRE deals come along with a ton of paperwork. Don’t let your deals stall because we can’t meet in person right now. Instead, keep the momentum strong by using an online document signing tool.
Whether it’s a lease, closing documents, contracts, or forms, there are online programs to help get them securely signed. Explore Notarize, Eversign, and Pandadoc.
Offer Virtual Tours
Navigating property showings was one of the most challenging aspects that CRE agents needed to overcome. If prospects couldn’t view a listing, how were they expected to move forward with a sale?
Common solutions, such as HD photography and video walk-through tours, were added to online listings - but they only acted as a bandaid and did not actually fix the problem. People wanted to see and experience the property before leasing, and the only thing capable of facilitating this experience was virtual tours.
Agents who adopt virtual tours will be able to thrive in CRE’s new digital paradigm. Check out our new RealNex Quick Tour solution
Invest in an Online Portal for your Team
While WFH continues, you’ll need a meticulous online portal for your team. Keeping things organized and running smoothly is one of the most difficult aspects of teleworking, but commercial professionals can troubleshoot using a great platform.
Try out Basecamp, Asana, or Trello to tackle projects with ease.
Expand Your CRM
CRM is always pivotal, but right now, it’s more important than ever before. Since we can’t meet up in person, commercial agents need a foolproof way to care for their entire sphere. Make sure your clients are taken care of during this time by investing in an esteemed CRM provider.
RealNex offers a sophisticated CRM system as a part of our revolutionary full-bodied CRE portal.
The only way to go is forward. CRE professionals need to be ready to attain industry success regardless of possible market shifts. Thankfully, technology and a virtual business model provides commercial agents exactly what’s needed to win.
For more business tips and industry outlooks, explore the RealNex blog.