How AI And New Technologies Are Revolutionizing Commercial Real Estate Investing

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Andrew Cigna is the Founding and Managing Partner of The Above All Group, a commercial real estate investment firm in Hamilton, Canada.

The commercial real estate industry is no stranger to evolution, and AI technology, among others, has emerged as a formidable force, reshaping how investors approach and thrive in this dynamic market.

Proptech: Revolutionizing Property Transactions And Management

Proptech is a field that is redefining how commercial real estate transactions are conducted and properties are managed. It has emerged as a driving force behind the industry’s evolution, offering investors an array of resources and solutions that streamline various aspects of the investment process.

While property search engines have long existed, AI takes customization to a new level. By tracking real-time online searches, previous purchases, property views and other filtered criteria, AI tailors recommendations to individual preferences to enhance the speed and precision of property searches.

My team has used this technology for quite some time, and it’s very beneficial because of its all-in-one platform. The challenges we ran into when implementing this new technology centered on training and the understanding of how it worked. New technologies can seem daunting for users, but in-person training and video training can help new users get the job done.


Data Analytics: Unleashing Insights For Informed Decisions

Harnessing the power of data analytics is pivotal for commercial real estate investors seeking a competitive edge. Market research and analysis are significantly enhanced through AI’s data processing capabilities. Predictive analytics, another pillar of AI, uses historical data and machine learning algorithms to forecast market trends. This forward-thinking approach empowers investors to anticipate shifts and proactively adapt their strategies, thereby minimizing risks and enhancing portfolio performance.

Thanks to the aid of AI, data analytics has allowed my company to analyze data at a faster pace in order to make informed decisions when it comes to acquiring commercial real estate. In all, data analytics and AI allowed us to look closely at the past and present to make informed decisions for today and tomorrow.

Smart Building Technology: Elevating Property Management

From property listings to maintenance requests, AI-integrated systems streamline operations for all stakeholders. Automated HVAC operations and energy-saving initiatives are just the beginning, as AI-driven property management is poised to revolutionize the industry’s operational landscape.

IoT (Internet of Things) integration is a hallmark of smart buildings powered by AI. IoT devices and sensors provide real-time data on many parameters, such as energy consumption, temperature and security. AI processes this data to enable proactive maintenance, optimize energy usage and enhance operational efficiency.

My company has long worked with smart building technology, helping elevate property management. When it comes to HVAC and IoT, our commercial spaces now include IoT so that tenants and our team can access and control sub-technologies with the touch of a finger on our smartphones, tablets, laptops, desktops and wall mount panels. We specifically utilize IoT to control temperature settings at different commercial property locations from across town or anywhere in the world. Harnessing IoT also means we can get more work done remotely: monitoring video, unlocking and locking doors and video-entrance welcome systems. When it comes to HVAC, we have utilized new technologies to reduce our environmental footprint.

Blockchain: Securing Transactions And Enhancing Transparency

The advent of blockchain technology has introduced unprecedented transparency and security to commercial real estate transactions.

Blockchain ensures the integrity of property records, reducing the likelihood of title disputes and enhancing trust in real estate transactions. Moreover, smart contracts built on blockchain platforms automate agreements, expediting transaction processes and reducing the need for intermediaries.

Simply put, our experience with blockchain has proven beneficial for our transactions, and we have been using the technology for quite a while, and it has helped greatly with records and transactions, keeping everyone informed. In terms of tips for using this technology, training is paramount for using it successfully.

Real-Time Market Data And Investment Platforms

AI-powered investment platforms equipped with real-time market data provide investors with up-to-date insights, identifying promising investment opportunities and optimizing portfolio performance.

Efficient property comparison is made possible through AI, enabling investors to analyze multiple properties simultaneously and make more informed decisions. Real-time data on property performance allows investors to monitor investments’ financial health and pinpoint areas for improvement.

My company has taken full advantage of real-time data, and it has allowed us to predict the ups and downs of the market while providing us with real-time insights and more granular information to help our brokers when dealing with clients.

Virtual Reality (VR) And Augmented Reality (AR)

The fusion of AI with VR and AR technologies has revolutionized property marketing and tenant engagement. These technologies enable investors to create interactive virtual property tours, providing potential investors and tenants with immersive experiences. Potential buyers can embark on 360-degree virtual property tours from the comfort of their homes, reducing time and expenses associated with site visits.

AR has helped my company offer clients an interactive experience through computer-generated visual elements; it has allowed us to show clients or tenants their rental spaces, helping them make informed choices. On the VR front, business owners are now working with us and selecting their new office or retail spaces from the comfort of their own homes. We have been keeping busy offering clients simulated open houses through high-quality 360-degree cameras so that they can go room to room through a VR headset. VR right now is our technology of choice—it’s super easy to use, and people are fascinated by it.

Key Takeaways: The Future Looks Bright

As the boundaries of technology continue to expand, AI and innovative technologies are becoming essential components of the commercial real estate landscape. Check them out—you will be glad you did.

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