The pandemic accelerated tech trends across the board, including commercial real estate technology trends. While companies have made steady progress in years past, the events of the past year and a half made it clear that upgrades need to happen sooner rather than later. Of course, companies obliged. We’ve seen plenty of impressive developments, both designed to protect the public’s health and keep the industry alive.
Although spaces are opening up their doors once again, the effects of this commercial technology boom will linger for years to come. With that being said, we’ve rounded up the top commercial real estate technology trends of 2021. We can all expect to see further developments and more streamlined processes for years to come.
Expect virtual exchanges to continue
Even though restrictions for face-to-face meetings are lifting, virtual exchanges will surely remain popular. Zoom meetings and messaging apps facilitate communications between tenants and landlords and simplify the negotiation process. This is especially convenient for landlords who relocated during the pandemic but still wish to lease their space.
Likewise, tenants who plan to lease in a certain city in the near future can communicate with landlords without making a trip. At REDHANDED, we allow tenants and landlords to directly connect and communicate, cutting the broker out of the equation. Thanks to our platform, landlords and tenants can conduct leasing negotiations with little to no in-person contact. Not only is this safer, but it’s also a huge time-saver.
Power-saving real estate technology trends gain more traction
While plenty of workers are returning to the office and businesses are reopening their doors, full capacity isn’t guaranteed. To combat this, many companies have installed occupancy sensors to cut back on wasted energy. Since occupancy sensors pick up on movement in a given room or space, they only put out the energy necessary.
HVAC occupancy sensors are also becoming more popular. These limit the heating and cooling of unoccupied spaces. Even in a post-pandemic world, tenants and landlords can expect to save significantly more money with these eco-friendly fixtures.
Sanitary upgrades on the rise
The pandemic brought our need for health-conscious spaces to light and accelerated the installation of sanitary fixtures in commercial properties. For instance, touchless doors, bathroom features, and voice-activated alternatives all help prevent the spread of germs in the workplace and beyond.
Beyond these sanitary upgrades, overall wellness will continue to be emphasized in commercial spaces, especially office buildings. Air filtration and brighter, naturally lit spaces can both boost our health and mental wellbeing.
Virtual reality impacts the need for in-person tours
Virtual reality technology only continues to improve. From virtual clothing try-ons to programs that allow you to envision a piece of furniture in your home, this technology has come a long way. Thanks to tech like Google Street View, drone footage, and video tours, in-person tours are often no longer necessary for a prospective tenant or investor to get a good feel for a space.
They also allow landlords to advertise their space without conducting multiple tours, reach more prospective tenants, and save valuable time and money. Virtual reality technology will only continue to impact the commercial real estate landscape and the leasing process.
Property technology developments streamline processes
Thanks to virtual contract software, tenants and landlords can easily draft and sign leases and other documents online. Additionally, commercial real estate management software allows landlords to collect rent and overlook their properties without visiting them in person. These advancements are nothing new, but the pandemic accelerated their popularity. We may even reach a point where in-person interactions between tenants and landlords become a thing of the past.
Commercial Real Estate Technology Trends — 2021 and Beyond
Although these commercial real estate technology trends aren’t brand new innovations, the impact of the pandemic drove their popularity to reach new heights — and we don’t plan on them losing momentum anytime soon. As the industry bounces back, these tech trends will play a major role in the changing face of commercial real estate.
All in all, we envision a simpler, more affordable, streamlined future for the industry. Technological innovations will also open up the commercial real estate game to less experienced players and level the playing field a bit.
At REDHANDED, we are thrilled to be able to play our part in creating a better future for commercial real estate. Thanks to our simple platform, tenants and landlords can browse available properties and connect directly to negotiate their own deals. We make the leasing process fast, fun, and affordable. We’ve cut out the middlemen and tangled web of steps.
Tenants and landlords both save money without having to fork over hefty broker fees. That money goes right back into your pockets, allowing you to create the business of your dreams without feeling pressed for cash.
Don’t get caught REDHANDED by sky-high broker fees. Browse spaces on the market and post your property on our website today.
