How Technology Is Revolutionizing How Deals Get Done

The commercial real estate (CRE) industry appears to take pride in keeping several aspects of its operations secret, such as comparable lease rental rates, property prices, and valuations, to create a possible competitive advantage. However, secrets are hard to keep—and may not even be desired—in today’s hyperconnected and digitized world.

In response to greater demand for transparency, technology advancements and the disintermediation by startups are gradually making some of this information public. As a result, property-related information is increasingly available in digital form. However, a significant portion of the digitized information is hosted on disparate systems, which results in a lack of transparency and efficiency, and a higher incidence of inaccuracies that creates a greater potential for fraud.

Lease transaction management technology—a digitized, cloud-based solution – that allows teams to share information—could enable the CRE industry to address these inefficiencies and inaccuracies.

Why Consider A Cloud-Based Transaction Management Solution?

  • Need for a common database
    • Shared databases are critical for leasing transactions. When everyone is working in the same system, hours of administrative and data entry time are saved. Instead tools and resources to create and respond to proposals and offers from within the software and the tracking and reporting is automatic.
  • Multiple entities can modify database
    • Managing real estate properties involves several entities, such as owners, tenants, operators,
      and service providers, who provide, access, and modify a variety of information.
  • Lack of trust among entities
    • Many times, different participants in the leasing lifecycle do not have pre-existing relationships,
      which results in mistrust.