Skip To Content
News Release

Future-Proof Your CRE Business: A Guide to Emerging Technologies Transforming the Industry

Excerpt: Is your CRE business ready for AI, VR, & blockchain? Learn how tech is transforming the industry & unlocking new opportunities.

Is your CRE business future-proof? The industry is being reshaped by a wave of innovation—artificial intelligence (AI), virtual reality (VR) and augmented reality (AR), data, blockchain technology and real estate tokenization, predictive analytics and demand forecasting tools, and the Internet of Things (IoT) are fundamentally changing how we manage properties, close deals, and serve clients. This isn't just about keeping up with the times—it’s about unlocking new opportunities and creating a competitive edge. In this article, we’ll share examples of how you can use the latest tech advancements that are transforming CRE and empowering businesses to thrive in the 21st century.

Historically, CRE has had a reputation for being a slow adaptor to technology; however, the pandemic expedited our investment in and adoption of things like AI, augmented reality, and data analytics. As these emerging innovations intersect with the CRE industry, leaders can enhance operations and drive growth by leveraging new technologies. Here are a few ways this is illustrated in the industry.

 

Nearly Instantaneous Data Analysis 

New technologies like artificial intelligence (AI) and machine learning make it easy not just to analyze vast amounts of data in real-time, but to extract actionable insights and make informed decisions with unprecedented speed and accuracy. By leveraging these advanced technologies, you can streamline property valuations, predict market trends, and optimize asset performance in mere minutes, allowing you to reinvest greater time into making smarter decisions that drive greater returns. However, AI-powered platforms are just as helpful in providing critical historical data that can be leveraged in measurable ways. 

 

Prospecting through Experiential Visualization 

Virtual reality (VR) and augmented reality (AR) technologies are revolutionizing how CRE stakeholders visualize and experience properties, especially in the context of property tours, design reviews, and space planning—where these emerging tools have become industry game-changers. VR and AR applications enable prospective tenants, investors, and developers to explore properties remotely, immerse themselves in virtual walkthroughs, and interact with 3D models in real time. By providing immersive and interactive experiences, VR and AR technologies can accelerate decision-making, reduce site visit costs, and enhance stakeholder engagement throughout the property lifecycle.

 

An Enhanced Tenant Experience  

AI and machine learning have the potential to revolutionize property management operations. By automating tasks such as lease administration, rent collection, and tenant communication, you can improve efficiency, reduce costs, and enhance the overall tenant experience—starting with routing tasks.

Lease administration, rent collection, and scheduling maintenance activities can all be automated and streamlined with AI and machine learning algorithms. And while these activations help to improve overall efficiency, there are also a host of new technologies to monitor systems and detect potential maintenance issues in real time. For example, sensors can track equipment performance, detect leaks or temperature fluctuations, and alert property managers to potential problems before they escalate. Proactively addressing maintenance issues can minimize downtime, reduce repair costs, and enhance tenant satisfaction.

And by streamlining the tenant experience, these tools also provide the opportunity to improve the tenant experience. Smart building systems with AI-driven analytics can provide valuable insights into tenant preferences, behaviors, and usage patterns. By analyzing tenant interactions with building amenities, security systems, and environmental controls, you can tailor the building experience to meet individual needs and preferences.

The adoption of new technologies doesn’t happen overnight; however, by considering your technological integration and new ways of working with these tools, you’re taking the first step toward a more integrated approach—an approach that will allow you to stay profitable and competitive in the CRE today and in the future.