Growing Access to Data and How It Is Affecting the CRE Market

Wheaton commercial real estate lawyersTechnology has changed how we communicate with family and friends. It has made shopping easier and more convenient. It has even changed how people invest their money. Yet, when it comes to the commercial real estate market, not much has changed. Investors still rely heavily on traditional methods for buying and selling property – but all of that is slowly starting to change. 

New technology-based companies are cropping up. They are giving commercial real estate (CRE) investors that chance to access real-time data, such as neighborhood statistics, buyers and sellers, analytics, and even the asset itself. What does all this mean for the CRE market’s future, and how can you get in on the game? The following information explains, and it details how the aid of a seasoned, competent commercial real estate lawyer can help you stay on the cutting edge. 

A Closer Look at Technology in the CRE Market

Though CRE investors were slow to catch on to the technology trend, they have sunk over $5 billion into CRE-based technology in the past year alone. That a tremendous increase from the $33 million investment back in 2010. The reason for the growth is clear: not only are investors gaining access to real-time data and analytics, they are also finding that technology can take them expand their portfolios in ways they had never imagined. 

The market is still hyper-local, so investors often focus their time and energy into learning all they can about specific neighborhoods. Thanks to technology, many are gaining a better understanding of markets they had never previously considered – places they may not have any prior knowledge about and may not be able to visit in person – and all with far less risk.

Buyers are not the only ones benefiting from the expansion of technology in the CRE market either. With the help of technology, sellers pull in more bidders, which often means a better deal for them. In turn, they are able to increase their profits and invest more into future purchases. 

Looking to the Future – Are More Positive Changes on the Horizon? 

While one can only speculate as to how technology may further improve the CRE market, many experts believe that there are additional positive changes on the horizon. Specifically, they foresee an easier, faster processing of contracts, which could benefit both buyers and sellers and supercharge the already highly profitable industry. 

Industry experts are also expecting to have Alexa-guided 3D tours of properties, which will be viewed through cameras placed throughout the property, which would mean buyers would no longer have to travel to gain a realistic view of what they are planning to purchase. In short, investors will spend less money and less time procuring and selling new business ventures. There will still be a need for careful consideration, especially when it comes to matters like due diligence and negotiating a contract. This is where the aid of an attorney comes in.

Contact Our Wheaton Commercial Real Estate Lawyers 

Stock, Carlson, Oldfield & McGrath, LLC believes in making commercial real estate transactions easier and seamless so that our clients can focus on what is most important – growing and expanding your portfolio. Dedicated and experienced, our Wheaton commercial real estate lawyers handle al the legal aspects of your deal, including due diligence and contract negotiation. Schedule your personalized consultation by calling our offices at 630-665-2500.

Source:

https://www.bizjournals.com/bizjournals/news/2018/07/13/growing-access-to-data-is-changing-the-commercial.html

Women Face Unique Challenges in the CRE Market

DuPage County real estate lawyersAlthough great strides have been made in achieving gender equality in America, women continue to face significant challenges in the commercial real estate market. In fact, studies show that women are still making less than their male counterparts, even though they are doing the same work. Learn how you can overcome the issues you are facing in the CRE market, and discover how a seasoned attorney can assist you in the process. 

Gender Equality Issues in the CRE Market

In a study published by RETS, a commercial real estate recruitment and staffing firm, 618 women in entry- to senior-level CRE market positions revealed their biggest concerns. A startling 87.2 percent said they are concerned about the lack of equal pay, and 65 percent said they had learned that a male counterpart made more than them. Of those, 75 percent claimed they had heard on two or more occasions that a male agent made more than them. 

Advancement opportunities were another great concern. In fact, 79.2 percent said they felt they did not have any advancement opportunities within their company, and 61 percent said they felt they had been passed up for an advancement opportunity. Of those women, 85 percent said it had happened on more than one occasion. Additionally, 79.1 percent of women said they did not feel that their opinions were as valued as their male counterparts. 

Overcoming Challenges in the CRE Market 

While there is little that women can do about the gender gaps in the CRE market, there are measures they can take to ensure their opinions are valued, and that they receive the best possible  chances at advancement. First and foremost, women need to speak out when they feel they are being discriminated against over gender. Second, know where to find assistance if you feel you are facing gender discrimination in the workplace, as this is against the law. Lastly, women are encouraged to utilize the resources that are available to them, such as the aid of a lawyer when growing their portfolios. 

Contact Our DuPage County Real Estate Attorneys

The CRE market is one of the leading employers in the nation, which means there are many women who could be at a disadvantage on the job. Stock, Carlson, Oldfield & McGrath, LLC advocates for these women to ensure their rights are protected, and we assist them in making sound investment decisions so they can grow and expand their wealth. Discover how our seasoned DuPage County real estate attorneys can assist you. Call 630-665-2500 and schedule a personalized consultation with us today. 

Source:

https://www.entrepreneur.com/article/316015

 

Using Social Media to Grow Your Commercial Real Estate Business

Illinois commercial real estate attorneysGrowing a commercial real estate business is no easy task, and the more saturated the market gets, the more difficult promoting your business becomes. To stay in the competition, real estate investors are encouraged to utilize today's more powerful marketing tool: social media. Learn more in the following sections, and discover how a commercial real estate attorney can help protect your business from the most commonly experienced issues in the market.

Why Use Social Media?

Social media use has grown exponentially over the last several years. It is where consumers connect with friends and family. It is also where they gain information regarding where they should spend and invest their money. On the one hand, this is a positive thing, as it gives consumers more choices, but it can also make it difficult for smaller, start-up businesses to attract the kind of attention they need to grow.

Social Media Strategies for Growing Your Business

While much of your social media strategy will be based on the clientele you are serving and the unique aspects of your business, one can turn to some of the most successful commercial real estate accounts to gain some insight on using social media in an effective way. For example, one New York agency uses a consistent theme; they focus on posting high-quality photos of businesses, people, and neighborhoods that are of interest to their consumers on Instagram. Theoretically (and most likely), this attracts new tenants to their buildings.

In other words, to develop a successful and tailored social media plan, you will want to first consider what may be most important to your clients. What are their needs, and how do you meet them? Then focus on using a strategy that pulls them in. Business owners are also discouraged from posting political views, rants, and other statuses that paint them in a negative light. It is also recommended that commercial real estate investors use memes, motivational quotes, and other content that is not related to their business sparingly.

How an Attorney Can Help You Grow Your Business

Social media can attract new clientele, but new clients are only a positive thing when you are adequately prepared. Furthermore, commercial real estate investors need quality protection from the common issues that arise in the industry, such as zoning problems and delays in development. It is in this area that Stock, Carlson, Oldfield & McGrath, LLC can assist. Dedicated and experienced, our Wheaton commercial real estate lawyers prioritize the growth and future of your commercial real estate business. Call 630-665-2500 and schedule your personalized consultation to get started today.

Source:

https://www.forbes.com/sites/forbesrealestatecouncil/2017/12/27/ten-tips-from-the-top-commercial-real-estate-accounts-on-instagram/#a0cffbc72052