3 Times We Wished CRE Understood Technology

Team CREXi – April 28th, 2016

The CRE industry is not known for being particularly cutting-edge when it comes to technology, and that’s a shame really. There’s so much we could accomplish if everyone would just get their feet wet.  Of course many of us are fully immersed, so to speak, but every now and then we encounter someone who has yet to abandon the old way of doing things, and it can be jarring.

In many cases, another agent’s lack of tech adoption doesn’t really affect us. If they want to manage projects with Excel, print and mail contracts, and keep their contacts in their phone, that’s up to them. In fact, it gives us an advantage.  

But when we have direct dealings with people who are operating that way, there’s pain. Real, mental pain and tremendous frustration. Because once you’ve conducted transactions and managed projects through a digital platform, the old ways, with their redundancies, inaccuracies, and delays are nearly intolerable. At times like these we really, really wish that CRE understood technology better. Can you relate?

“I’ll fax the contract in the morning.”

You’re ready to close the deal. Your client is anxious. The financing is set. The terms are all ironed out. Now we wait, the contract is faxed, the client is contacted, signing is completed, and the contract is faxed back. If all goes smoothly. And this can take days.

Digital solutions allow for contracts to be shared and approved online, made simultaneously available to all parties involved, and signed digitally. It’s miles faster, completely secure, and more transparent. How could you not love that?

“I’ll send you the details when I get back to the office.”

First of all, do the words “strike while the iron is hot” mean anything to you?  With digital tools, you can shoot a gorgeous brochure over to clients from your phone, right now.  You can generate and share market reports, property details, or link to a virtual tour – all housed in an integrated platform that can be accessed anywhere, 24/7.

Yes, non-tech-adopters, that is how we do all that when we’re in the field. Which is where we spend a lot of our workday. The office is where we stop for coffee.

“I’ll bring you up to speed at the meeting.”

There may be some disconnect in what is considered “speed” here. Waiting for a weekly meeting is a waste of time. Team members can get updates in real time when projects are managed in the cloud.  Everyone is operating with the same, completely current information, so the work goes forward smoothly. No wasted time.

Let’s be real: CRE teams are incredibly complex. We work with contractors and vendors, tenants, accountants, and property managers. Our teams can be scattered across the country and beyond. Time zones can be involved. With digital tools, we can operate in a shared, synchronized space to generate unified decisions and planning for CRE.  This is what we need. Everybody in the pool.

Learn More at: www.crexi.com