Real Estate is currently undergoing changes like never before. SansBull.io helps real estate companies uphold traditional values of real estate while incorporating technological advances.
We can help you maximize efficiency with custom platforms, craft your strategy to meet new challenges, and rely on data to drive results.
5 Key Insights
1. Introduce Technology Everywhere
The real estate industry is currently undergoing significant changes with technology companies introducing faster ways to conduct business. Staying ahead of the curve and adding these new technologies will allow your business to create new channels to generate business and close your transactions at a higher rate.
2. Diversify Portfolios
Traditionally, portfolios were focused on one type of property (Residential, Commercial, Industrial, Retail, etc.) in order to maximize the expertise of the team. However, given the changes that real estate has undergone, there is a trend towards diversifying portfolios and repurposing properties in order to increase revenue and boost profits.
3. Reimagine Space
With the decline of big box stores, commercial property owners are now forced to reimagine the space left behind by stores like Sears which typically occupied tens of thousands of square feet. Lifestyle centers have emerged as one of the solutions where these spaces give way to fitness centers and movie theaters. This gives traditional retail space a more diverse outlook to attract customers.
4. Make Data-Driven Decisions
Data will change how you do business. Real estate is no longer just about shaking hands and making deals with old friends. It is now driven by data the will guide the decision on when to invest in a property, what that property might be worth, and how to market that property so that you can maximize the results of your decisions.
5. Stay Open to Change
As real estate continues to change, players such as WeWork have gotten into the game and are leasing out hundreds of thousands of square feet at properties throughout the world. These co-working spaces are growing at a steady clip and it’s important to embrace these new players as they will not be going anywhere. Being open to new tenants to your properties will allow you to continue growing your portfolio by knowing that there are new types of consumers that are now at your disposal.