With a predicted growth of $133.5 trillion by 2028, commercial real estate presents lucrative opportunities. Property managers, agents, real estate developers, and other industry professionals can take advantage of this trend by employing commercial real estate (CRE) software.
This technological solution can automate, streamline, and fast-track several operational processes, allowing users to save time and focus on more important tasks.
Combined with innovations like commercial rendering, it can boost efficiency while enhancing your company’s performance.
But what exactly is commercial real estate software and how can it help you? Join Plus Render as we share all you need to know.
What Is Commercial Real Estate Software?
Commercial real estate software is a computer program that streamlines and enhances operations. By automating most of the manual and repetitive tasks, it’s possible to make workflows more productive and efficient.
Why Invest in CRE Software?
Here’s how you can benefit from commercial real estate software:
Financial Management
Commercial real estate is a dynamic industry influenced by supply and demand. While it offers opportunities for passive income, having a financial plan is critical if you want to maximize returns.
Cutting-edge CRE software can be an indispensable resource in this regard. It provides comprehensive insights into the property’s income and expenses. This lets you calculate profitability and depreciation over time and map out an exit plan that maximizes return on investment.
It also helps you remain compliant with tax requirements. Since most processes are automated, there is little risk of human error, allowing you to avoid certain disadvantages.
Investment Analysis
Commercial properties generally command higher prices per square foot. You can ensure their profitability with Real Estate Investment Analysis (REIA) software.
It generates in-depth insights by performing market analysis, forecasting, and risk analysis, allowing you to accurately gauge potential growth. This can help you identify and eliminate opportunities that aren’t a suitable fit.
Lease Management
Agents are equipped to handle between 10 and 20 commercial properties each. To be successful, they must be proficient at time management. Agents have many roles and duties. Juggling them with tenant-related tasks (like commercial real estate leases) can be challenging.
Enlisting the help of the right CRE software will help make their jobs easier. CRE facilitates:
- Easy storage and retrieval of key documents
- The monitoring of leases, including terms, rental payments, and clauses
- The efficient management of renewals and terminations
- Compliance with regulatory agencies
- Accurate accounting of liabilities and assets
These benefits simplify real estate management. With over 2.4 million commercial real estate companies in the country as of 2023, it’s easy to see how the segment is responsible for 50% of the revenue share in the industry.
Marketing
The amount of commercial real estate for sub-leases is increasing. A June 2024 report shows there are 83.8 million square feet of office space under construction nationwide.
Accompanied by solid marketing analysis, putting money down on a hotel, an office, or a retail space is a good financial decision. It gives you access to a reliable income stream—provided you know how to market it.
Here’s how CRE marketing software makes things easier:
- Streamlines the process of nurturing leads
- Creates and distributes 3D renderings
- Helps launch impactful email campaigns
- Offers collaboration tools that boost efficiency
These digital tools also provide comprehensive insights into performance. You can thus improve the effectiveness of your campaign and unlock new growth opportunities.
Tenant Communication
Effective communication is key to maintaining healthy relationships with tenants. Due to the rising demand for properties, this can be challenging to manage, particularly if your clientele is global and diverse.
But you don’t have to be online every waking moment to answer queries!
Automate certain processes to reduce your manual workload. Good software allows you to automate rental payment reminders, lease renewal notices, etc. Renters can voice concerns, submit maintenance requests, and track resolution through the app even outside office hours. It can enhance their experience which can reduce tenant turnover rates.
Bottom Line: CRE Software Eliminates Friction in Sales
Unreliable economic forecasts. Error-ridden quotes. Back-and-forth emails that go nowhere. Property details with too much technical jargon.
There’s an abundance of ways to lose out on a profitable deal.
Commercial real estate software can mitigate this risk. It provides in-depth insights into profitability, which can build trust and confidence among potential clients. Streamlining communication with integrated messaging, voice calls, and emails makes a tangible difference in how you work and how your company performs.
Choosing the Right Commercial Real Estate Software
There are different types of software solutions to keep track of all the little but significant details. The right CRE software empowers employees to perform their tasks faster with better results.
While it can be tempting to give different software solutions a try, too many apps can affect their ability to focus. If your operations are diverse, it’s best to use a one-size-fits-all solution that matches the structure of your business.
So, how do you choose the right product?
- Have a clear idea of what you need from your CRE software and your goals for using one.
- Consider how much you’re willing to spend. Compare different solutions.
- Think about implementation. How much will you need to spend on maintaining it? How much training will you have to provide employees?
Many commercial real estate companies rely on marketing software to streamline their sales and marketing processes. Good marketing CRE solutions can make your campaigns more effective while saving time and money. It can help you improve how you distribute materials like interactive virtual tours and other photorealistic renderings.
Boost Marketing and Lead Generation With Plus Render
Plus Render is an architectural visualization studio that creates marketing materials for commercial real estate. We produce virtual tours with 360-degree environments, allowing industry professionals to offer immersive, compelling, and accessible sales pitches.
These rendered environments enable you to communicate the features of a listing without lengthy descriptions and sharing dozens of pictures. They also let you:
Do Away With Geographical Barriers
Commercial rendering is a visual experience. It transports the viewer to a realistic visual representation of the space. It is tailored for easy access from anywhere in the world through a phone or virtual reality headset.
Save Time and Money
Potential customers can evaluate property without spending a fortune on plane tickets, lodging, and other travel costs. Meanwhile, agents save money by not spending on staging and open houses.
Faster Decision-Making
Structural makeup? ✅
Access to transportation hubs? ✅
How does a listing fit in with the surrounding landscape? Check, check, and check.
3D technology gives buyers a clear understanding of every aspect of a listing. They can see its potential and even suggest changes before construction.
Improves Exposure
3D renders generate excitement and engagement around a listing. Hyper Realistic environments make viewers feel like they are exploring properties firsthand.
This increases the likelihood that the commercial space will be rented or sold quickly. By offering wider exposure and reach, listings can be purchased or leased at higher prices and with bigger profit margins.
Stay Ahead of the Curve With Plus Render
CRE software can automate many tedious processes for you. The good news is you can also commission renders with Plus Render. Your Plus Render representative will work with you to learn as much as possible about your listings, goals, and preferences. You can then get a professionally rendered environment according to your needs.
Whether it’s 360 interactive virtual tours that improve your visibility or an architectural project presentation that brings investors on board, we provide comprehensive services that position you for success.
Learn how we can help in the dynamic and competitive commercial real estate landscape by booking a call with Plus Render today!
