Commercial real estate is an industry that until now, remained far behind in terms of tech. While residential software has hundreds of specific software solutions, most commercial real estate professionals have relied on Excel spreadsheets, emails, and Google Docs.
This is partially due to the fact that developers need both an understanding of the workflow in CRE, and an ability to customize software that can be used by a CRE veteran and a younger office manager.
In the last few years, however, there have been a growing number of new platforms aimed at improving portfolio and property management, deal analysis, lease management, and analytics.
Here’s a list of the most popular commercial real estate software used in the CRE industry today.
Property Metrics is a web-based platform that allows investors to create, analyze, and share a CRE proforma. Investors can use this commercial real estate software to build a detailed cash flow proforma, run a discounted cash-flow valuation. Also, the real-time software means you can change numbers and instantly see how it impacts your bottom line.
The software also creates detailed, well-designed projections and reports that can be presented to banks, investment partners, clients, broker marketing packages, and more.
Real Capital Analytics provides transaction data and intelligence on market pricing, capital flows, and investment trends. An estimated $16 trillion commercial real estate property transactions around the world have been recorded in the system.
This commercial real estate software also maintains a searchable database of over 155,000 investor profiles. Using unique links for each owner and all other participants in a transaction investors can create rankings and lists of players, and research the companies involved.
Hightower is a lease management platform that offers owners the ability to monitor all next steps for ongoing deals, in-place tenants, as well as automate numerous leasing tasks.
Investors can also manage their portfolios, structure leasing data for analysis and interpretation, and investigate why deals fell through either in specific assets or across the entire portfolio.
VTS is a cloud-based leasing and portfolio management platform that provides brokers and owners with real-time access to everything happening throughout their portfolio.
This commercial real estate software allows investors to streamline the entire leasing process, the platform enables tracking and analytics across live, active deal flow. Users get their portfolio and team onto a single platform to interact with data, identify trends, highlight opportunities and quickly raise red flags when necessary.
Reis maintains a proprietary database containing detailed information on commercial real properties in neighborhoods and metropolitan markets throughout the U.S.
The database contains information on apartment/multi-family, retail, office, industrial, warehouse/distribution, flex/R&D, hotel/hospitality, self-storage, seniors housing, student housing, and affordable housing properties.
Reonomy is a technology platform that makes it possible to sort through commercial real estate information and find deals by providing comprehensive, validated data with analytics.
It also gives investors access to get actual ownership information including name, phone, and email, and includes a full picture of every property.
Honest Buildings is a web-based platform that connects real estate professionals with building construction and design firms. Construction and design firms can showcase their portfolios, and owners can use Honest Buildings to centralize project data, increase transparency, automate bid management, and standardize reporting.
Floored is a commercial real estate software solution that enables investors to create interactive 3D models of office space. Their software, Protofit, is a sketching tool that lets investors design test fits for properties which can later be exported and pre-visualized in 3D using Luna, Floored’s 3D engine.
This relatively new future will allow owners or managers to show potential tenants what space will look like without having to commission a test fist from an architecture firm.
Real Matters commercial real estate software provides data on real estate services such as title searches, mortgage closings, and appraisals.
There are over 30,000 insurance inspector and property appraisers on their platform who send their findings to Real Matters. Real Matters then measures and ranks each appraiser, ensuring mortgage companies and buyers can choose the best professional.
Build Science’s commercial real estate software interfaces with a building’s existing hardware to collect data in real-time and present it on a mobile-friendly dashboard.
By connecting these systems together, the software investors can integrate data from any number of sources to help commercial real estate investors understand an infrastructure’s mechanics.
Please contact Westwood Net Lease Advisors through our Buyer’s form for more information.