Commercial real estate has been notoriously slow to adopt technology, but for the first time for many CRE practitioners, they are seriously considering building tech & software into this year's budget. Various market forces are forcing CRE to consider tech. Those who see property as a capital asset are cautious of slowdowns in overall economic growth and a coming markets correction. This caution has led to CRE's growing interest in tech investments that will improve efficiencies, increase data transparency, automate operations and building functions, and improve the experience for their customers – the tenant.
To understand how commercial real estate professionals should budget for tenant experience software, and proptech in general, we put together an extensive ebook that examines the proptech creating new line items and how to budget for a comprehensive tenant experience strategy. Click here or the button below to download.
CRE's early tech adopters are making the upfront investment to differentiate from the competition. They see longterm value beyond just time and cost-savings – looking to technology as a longterm return strategy and a means to improve their brand, customer relations, and data-driven decision making.
BOMA (Building Owners and Managers Association) International released a report on commercial real estate technology trends in 2018, arguing that owners and asset managers stand to profit from technology solutions and early adoption is crucial for technology effectiveness in CRE. One thing has become apparent: 2019 is not the year to underspend on proptech.
This eBook covers seven major topics:
- The new 2019 CRE budget line items: Tech considerations that are making their way into CRE budgets this year and beyond.
- Proptech spend recommendations: Why 2019 is not the year to underspend on proptech.
- Top drivers in the workplace and CRE: The new real estate paradigm and how end user experience is impacting CRE tech purchasing.
- Why TeX software and where it fits in: The changing workplace is changing CRE.
- Budgeting for a comprehensive TeX strategy & potential monetization strategies: The call for a new line item to drive asset value and discover new revenue channels.
- How data from TeX software informs capex and future investments: Data is key and helps optimize spend in four critical tenant experience buckets: mobile technology, amenities & experiences, access & transportation, and communication & community.
- TeX software – from expense to income: How this emerging proptech category is becoming real estate's new revenue enhancement platform.
Download the ebook above or schedule a personalized consultation to go through the tenant experience and proptech budget questions you have for your property.