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IRELAND REAL ESTATE MARKET OUTLOOK 2019
| January 15, 2019
Lowe Enterprises, Inc. is a diversified national real estate company active in commercial, hospitality and residential property investment, development and management.
Article | April 11, 2020
The construction industry has been slow to evolve, especially in the realm of commercial real estate (CRE). In many ways, the construction process is not dissimilar from how it was when the first skyscrapers were built. However, as technology begins to change various parts of the industry, especially how all stakeholders communicate, building information modeling (BIM) is playing a larger role. BIM stands for building information modeling, and it's essentially a way to create as detailed a model of a potential building as possible so that architects, developers, and construction managers can collaborate and answer questions before and during the construction process. The benefit of this is that all parties can share information and potentially avoid costly mistakes.
As the property technology world develops, real estate firms are devoting more attention to how technology can help their businesses. Technology impacts real estate agents to an ever-increasing degree, and tools for every aspect of a real estate company are currently being developed. New programs and apps help manage and streamline real estate processes for realtors not just in the course of their everyday work but also when disasters strike. For example, in areas of the country that suffer from severe weather-related issues, property management can be extremely challenging for industry professionals and their clients. Software products recently released on the market, however, can help property managers connect with residents and track communications. With just a few clicks of a button, the software can ensure tenants get the help they need by using targeted text messages and phone calls. This greatly eases the stress on client and owner alike. More than half of commercial real estate agents are now using at least one form of property technology. Two common ways they’re using technology are to analyze performance and to manage accounts and properties on their lists. The goal of moving toward artificial intelligence (AI) in real estate is to give business owners the freedom to customize information technology to better fit the needs of their companies.
Since we know machine learning is driving innovation across every industry, real estate included, I took the time to summarize my experience as an attendee of ICNY by highlighting key findings in this blog post. These insights are based on my personal interpretation of the sessions, booth visits, and conversations with industry players (real estate agents, proptech workers, investors, and other conference participants). It’s no longer news that the real estate industry experienced a major revolution over the last few years with the involvement of iBuyers. In short, iBuyers digitize as many housing transactions as possible. Players like Zillow, Opendoor and Redfin offer buyers, sellers, and renters the option to find an agent or search, distribute, finance, and even close a transaction online.
The pursuit of exceptional people in today’s competitive commercial real estate market is a challenging proposition. DFW has a wealth of talent who could work at any number of prestigious real estate firms. So, what sets one global commercial firm apart from the next? How do we attract and keep the best in the industry to better serve our clients?
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