Trends With Commercial Real Estate Management Professionals

More and more people are cutting the cord and releasing the cord that connects them to their desk or cube. No matter if it is WiFi, a PDA devices or just a regular cell phone, the way we work is changing. So what is hot and what is not you may ask?

Well it is know surprise that wireless is definitely hot with cell phones continuing to be an essential business tools. Mobile communication devices can perform critical task when we want and where we want. The two areas with growth are the business applications where mobility is a requirement and general business tools for managers on the go.

Mobility is key in making a function such as work order management more efficient because most jobs in that function are done outside the office. Managers are always on the go and there are certain basic applications like mobile email that will continue to gain momentum and popularity. In terms of business solutions for commercial real estate, the most used software and technology applications include:

• Accounts Receivable/Payable
• Work Order Processing
• Property Management
• Lease Administration

This shows that real estate companies are integrating technology in the areas that traditionally have broad applications among many different industries such as accounting and work order processing and that they also are beginning to adopt newer solutions specifically designed for commercial real estate applications such as property management and leasing software. Intranet sites and contact management software are popular business solutions for commercial real estate professionals.

What is surprising is that in a recent study by Building Owners and Managers Association International, more than 50% of the office buildings did not have a web sites. This was surprising considering most businesses today cannot market, sell, manage or maintain clients with a web site. So why is the commercial real estate industry so far behind? The study seemed to indicate that there is still a significant technology knowledge gap within parts of the commercial real estate industry, and there is a real need for more education on business solutions.