It's incredible how technology has transformed the investing world. Gone are the days when investors relied on pagers attached to their belts. Today, cell phones have become indispensable tools for staying connected and getting ahead in the commercial real estate industry. The market is flooded with numerous commercial real estate apps, each offering unique features and benefits. But which app will truly be valuable for your individual needs?
Commercial Real Estate Apps That Can Boost Your Business
Commercial real estate apps are designed to enhance the lives of investors. They cater specifically to the needs of the commercial real estate field. Here are some types of commercial real estate apps that can help improve your business:
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Property Listings Apps: These apps are a great resource for finding more commercial real estate listings. They provide specific information on properties in a particular region or of a certain type, giving you valuable insights before visiting the property.
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Planning Apps: Strategic planning is essential in commercial real estate deals. Use planning apps to organize tasks, create to-do lists, and even map out floor plans or take virtual property tours.
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Client Relationship Management Apps: As a real estate agent, maintaining strong relationships with your clients is crucial. CRM apps help you stay organized, ensuring that each client's deals are managed effectively.
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Administrative Apps: Although not exclusive to commercial real estate, administrative apps simplify common tasks that investors encounter. They assist with document scanning and signing, email and calendar organization, setting reminders, and much more.
Now, let's dive into the nine must-have commercial real estate apps that can take your investment game to the next level:
1. Visual Lease
Managing leases can be a nightmare for any commercial real estate investor. Visual Lease simplifies the process with its user-friendly interface. It allows you to organize leases, lower operating costs, and gain a comprehensive view of how lease accounts affect your balance sheet. This app is a valuable tool for everyone on your team, from virtual assistants to owners and CEOs.
2. LoopNet Commercial Real Estate Search
LoopNet is a must-have app whether you're searching for investment properties or tenants. With over 800,000 searchable listings and customizable search filters, finding a property that meets your specific investing needs is a breeze. LoopNet also provides lender information, tax history, and tenant details. When the time is right, you can even list your commercial property on the platform.
3. Property Capsule
Presenting your properties in an attractive and compelling way is essential for success in commercial real estate. Property Capsule is a cloud-based platform that helps you showcase and manage your portfolio effectively. It offers interactive site plans, automated flyer creation, and other marketing tools that can truly make a difference.
4. Water Savings Calculator
Utility costs, particularly water usage, can significantly impact a commercial investor's profits. The Water Savings Calculator from Hunter Industries helps you monitor and optimize your water usage. By inputting your property's size, days of usage, and water consumed, the app calculates how small adjustments to your irrigation system can save you money in the long run.
5. CoStarGo
Knowledge is power in the real estate industry. CoStarGo provides commercial real estate intelligence with verified market data and insights from over 1,600 research professionals. Stay updated on market trends and make informed decisions by having access to timely information.
6. REoptimizer
Controlling costs is crucial for all commercial real estate investors. REoptimizer simplifies cost management by providing a comprehensive overview of your portfolio's expenses. Its user-friendly interface allows you to quickly assess the performance of each property, eliminating the need for endless Excel spreadsheets.
7. Monnit Facility Monitoring Systems
Protecting your valuable commercial assets is vital, but manually monitoring facilities can be time-consuming and costly. Monnit Facility Monitoring Systems offer a wireless sensor platform that alerts you to any issues on your properties. Early detection of warning signs, such as leaks or broken windows, can prevent bigger problems down the road.
8. Verdigris Energy
Understanding and reducing energy consumption in your buildings can lead to significant cost savings. Verdigris Energy helps you track energy usage and provides actionable data to identify areas of waste. With its forecasting element, you can plan for high-energy periods and implement strategies to minimize costs.
9. DealCheck
Analyzing the financial projections of a deal is crucial before investing. DealCheck allows investors to enter estimated expenses, including purchase price, closing costs, and repair costs. The app provides information to help determine the profitability of the deal. Additionally, users can compare similar deals to gain insights into potential offers on the property.
What Are Commercial Real Estate Apps?
Commercial real estate apps provide access to information across the entire real estate market. They gather data from various databases, ensuring you have the latest and most accurate information for residential, investment, and commercial properties. These apps allow you to filter your searches based on location, price, size, amenities, and more. Whether you're a buyer, seller, or investor, using multiple apps for research is best practice to verify information and make informed decisions.
Summary
To succeed as a commercial real estate investor, it's essential to maximize your time and effort. The best commercial real estate apps can help you achieve just that. Utilize technology to organize expenses, manage properties, sign leases, and market your listings. By leveraging these apps, you'll make the most of every second in your journey as an investor.
Do you have a commercial real estate app that you recommend? Let us know in the comments.
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