6 Ways Technology can Benefit Commercial Real Estate for Better Collaboration

Commercial real estate (CRE) brokers and agents can benefit you using technology to collaborate on projects. Collaboration for commercial real estate brokers can help to save thousands, speed up response time to clients, and even improve workplace relationships.

Literally, every area of CRE can benefit from technological collaboration tools and areas that have the biggest benefits are time management, investment, and marketing.

Here the top 6 benefits of using technology for better collaboration in the CRE industry.

1 Improve accuracy

First of all, technology has improved the way that facts and figures are processed and can result in greater accuracy. Many collaboration tools allow for fast data analysis and can quickly produce reliable and accurate results.

2 Teamwork benefits

Of course, teams benefit greatly from online collaboration solutions. You don’t have to have a global workforce to reap the rewards from online collaboration. Even teams working in the same building or office can benefit from collaborating on documents, sharing files, and communicating remotely.

3 Increased security

Actually, security is increased when CRE companies use online collaboration tools. The reason for this is that documents aren’t stored on a laptop or mobile device that can be lost or stolen. All document sharing solutions employ electronic signatures and encryption to ensure that data is kept safe. Of course, employees should be trained in storing passwords safely and only using strong passwords on their accounts.

4 Real-time information

All team members can see in real time the progress and work done on documents. Also, comments can be left on documents for other team collaborators and access to documents can be assigned to staff in relation to their specific assignment.

5 Access to documents

Project administrators can assign and change access to documents for team members. For example, some team member may be granted full editing rights whereas others just have access to view documents.

Access to documents online also makes it easier to share essential files like maps, reports, and other relevant data without having to email the content to multiple recipients. In fact, much larger files can be shared online than can be sent as email attachments.

6 Efficiency is boosted

One of the biggest benefits that technology gives to commercial real estate teams who collaborate is increased efficiency. You can reduce time spent on processes and save money on purchasing supplies. Also, the increased use of electronic signatures means that you can save money on attorney services.