Home > Resources > Articles > The 4 Types of Commercial Real Estate

The 4 Types of Commercial Real Estate

Did you know there are 4 different types of commercial real estate? First, let’s set the definition for commercial real estate versus residential. Think of commercial real estate as the business side of the real estate industry. Small business owners and CEO’s are typically the types of clients that Commercial Real Estate Agents and Brokers deal with. These people are generally looking for a way to fund their business, sell their small business or improve upon their brick and mortar. Now that you know what commercial real estate actually is we can begin to discuss the 4 different types including, industrial, multifamily, office and retail. Each of these industries is versatile yielding benefits to both investors and sellers.

Spotlight

Fidelity National Title

With origins that can be traced back 165 years, Fidelity National Title Insurance Company, through its underwriting subsidiaries, is one of the nation's premier real estate service companies, providing title insurance and other real estate-related products and services.

OTHER ARTICLES
Real Estate Advice, Asset Management

Is Commute Time Becoming a Housing Factor?

Article | May 9, 2023

While many workers plan, at least according to recent surveys, to continue spending at least part of each week working from home, a shorter commute still seems to be holding increasing appeal. The National Association of Home Builders (NAHB ) says its first quarter Home Building Geography Index (HBGI) indicates not only a pandemic driven shift in construction to low density, low cost markets, but a rapid expansion in areas with the shortest commutes. Litic Murali, writing in NAHB's Eye on Housing blog, says workplaces are moving toward hybrid home/office work models which could affect 30 to 40 percent of the American workforce. This will give renters and buyers increased market power over their travel times and the ability to reduce both housing and transportation costs. The nationwide average commute is 26 minutes. Those counties in the bottom quintile (lowest 20 percent) have a commute time of 18 minutes or less while the commute in the highest quintile is 28 minutes. The data show that 36.2 percent of the U.S. population resides in the counties in that top slice. The HBGI indicates that the top two quintiles with the longest commutes together had 63.6 percent of single family building. However, growth was strongest in that bottom quintile with a four-quarter moving average annual growth of 22.2 percent.

Read More
Real Estate Technology, Asset Management

Why You Need an Expert To Determine the Right Price for Your House

Article | May 30, 2023

If your lifestyle has changed recently and you’re ready to make a move, taking advantage of today’s sellers’ market might be just the answer for your summer plans. With homes continuing to get multiple offers, this could be your moment to get the contract you’re looking for on your house if you’re ready to sell. And here’s the thing – you need an expert on your side to ensure you make all the right moves when you do, especially when it comes to pricing your house. Even in this competitive market, you can’t stick just any price tag on your home and get the deal you want. A key piece of the puzzle is setting the right asking price so you can help buyers notice your home (and get excited about it) from the very first time they view the listing. That’s where a real estate professional comes in. Why Pricing Your House Right Is Important The price you set for your house sends a message to potential buyers. Price it too low and you might raise questions about your home’s condition or lead buyers to assume something is wrong with the property. Not to mention, if you undervalue your house, you could leave money on the table which decreases your future buying power. On the other hand, price it too high, and you run the risk of deterring buyers. When that happens, you may have to do a price drop to try to re-ignite interest in your house when it sits on the market for a while. But be aware that a price drop can be seen as a red flag for some buyers who will wonder why the price was reduced and what that means about the home. In other words, think of pricing your home as a target. Your goal is to aim directly for the center – not too high, not too low, but right at market value. Pricing your house fairly based on market conditions increases the chance you’ll have more buyers who are interested in purchasing it. That makes it more likely you’ll see multiple offers, too. And if a bidding war happens, you’ll likely get an even higher final sale price. Plus, when homes are priced right, they tend to sell quickly. Lean on a Professional’s Expertise There are several factors that go into pricing your house, and balancing them is the key. That’s why it’s important to lean on an expert real estate advisor when you’re ready to move. A local real estate advisor is knowledgeable about: The value of homes in your neighborhood The current demand for houses in today’s market The condition of your house and how it affects the value A real estate professional will balance these factors to make sure the price of your house makes the best first impression and gives you the greatest return on your investment in the end. Bottom Line If you’re thinking about selling, pricing your house appropriately is key. Let’s connect to make sure your house is priced right for the local market, for your home’s condition, and to stand out from the competition.

Read More
Real Estate Technology

3 High-ROI Home Improvement Projects

Article | July 25, 2022

Considering a remodeling project? Before getting started, establish a list of return on investment (ROI) goals, because not all home improvements are created equal. Some add value to the home that can be recouped when selling, while others may be nice to have but are unlikely to raise the home's asking price. Anyone who wants to focus on home improvements that will pay for themselves when selling the home should know which projects to avoid. Read on to learn about three home improvement projects with a strong return on investment. Upgraded Landscaping For homeowners looking for a better price when they sell, it's hard to go wrong with landscaping. This is one of the few home improvements that typically yields a positive return when selling the home. On average, homeowners can recoup 150% of what they spend updating a home's landscaping. Since curb appeal is a huge factor in selling a home, choose improvements that can be seen from the road for the best return. Resodding or reseeding a lawn is a project that typically provides good returns. In an arid climate like Nevada, consider landscaping with native plants, xeriscaping, and other eco-friendly desert landscaping options to reduce water usage and maintenance requirements. Adding new trees to the landscaping can pay off now and at the time of sale. Trees provide shade and natural cooling, which can take a chunk out of power bills. When selling, trees add between $1,000 and $10,000 to the selling price of a home. Creating a Dazzling Entryway Continue the strong first impression by creating a welcoming space in the entryway of the home. Upgrading to manufactured stone veneer has a return on investment of around 96%. The improvement is relatively simple but makes the front door and the surrounding area more dramatic. Even small improvements can have a big impact. Upgrade to a metal door or one with small windows that let in additional light. Find upgraded house numbers that are visually appealing and easy to see. This often costs less than $100 but can improve the look and feel of the entry area and practically pay for itself when it's time to sell. Minor Kitchen Remodeling The kitchen is the heart of the home. This is the room that is one of the top choices for home improvement projects. However, contrary to what one might expect, huge kitchen overhauls don't always yield a high ROI. In fact, less costly improvements typically have a better payoff. Small projects that can dramatically improve a kitchen include: Repainting Refacing the cabinets and adding updated hardware Replacing countertops Upgrading to more energy-efficient appliances Choosing more energy-efficient appliances is an upgrade that can start repaying itself right away. Other improvements are likely to increase the price of the home when it sells. However, on average, kitchen remodeling projects only bring in 77% of their cost when it's time to sell. Because of this, homeowners should focus on upgrades that improve their quality of life and what they are likely to get back for their investment. Some common mistakes can reduce what a homeowner will get back from a kitchen remodeling project. Investing large amounts of money on items that will need to be replaced again in a few years is unlikely to provide a positive return. Choosing items that are too high-end can cause them to clash with the look and feel of the rest of the home, which could turn buyers off. Improve Daily Life and ROI With These Home Improvement Projects Most home improvement projects do not pay for themselves in full when selling the home. Rather, they are changes that make the home worth more to the owner now, that have the bonus of a price increase when you sell the home. The right home improvement project can make any house feel like a new construction home. Homeowners should look to areas that will give them the most mileage when picking updates for their homes. For instance, old kitchen cabinets can make the room feel dull and uninviting. Refacing with a bright new finish can make the kitchen feel like a brand-new room. Adding low-maintenance shrubs to the front yard adds visual interest that can be enjoyed right away. Projects that require special permits could raise questions during a home inspection and potentially reduce the home's value—but properly permitted additions may let homeowners list a home with an extra bedroom or bathroom. Choose the updates that will provide the most meaningful benefits, both now and at the time of sale. By making the home inviting and attractive, sellers are more likely to be able to name their dream price.

Read More
Real Estate Technology

3 Proptech Trends That Are Making Waves in the Real Estate Industry

Article | July 6, 2022

Proptech, or property technology, comprises digital solutions that help facilitate buying, selling and leasing of commercial real estate. It is also called CREtech or REtech for commercial real estate technology, respectively. It usually refers to the digital tools and software used in real estate. With digitalization growing at an exponential rate across the real estate sector, proptech is evolving, here are three topmost trends in proptech that real estate solution providers must keenly follow. 1 3D House Tours Both prospective buyers and real estate agents love this technology. 3D house tours simulate a real house tour and can be viewed either on virtual reality (VR) headsets or one’s computer screen. They simplify initial interactions by enabling users to confirm their interest in a property, saving both time and visits for buyers and agents. They also allow agents to better market their properties and schedule multiple visits from the comfort of their offices. The ensuing process ensures that agents are able to provide realistic walkthroughs of their properties and eliminate friction from the get-go, making the showing as painless as possible. 2 Automated Service Desks Exceptional customer service is the name of the game in real estate and agents are expected to provide their clients with white glove service wherever possible. Conversational AI is one way that many real estate solution providers are achieving this. With round-the-clock contact channels to assist clients with the information they need, agents and brokers are better equipped to deal with queries and reduce their response time. The automation of menial tasks also ensures that they don’t have to be everywhere all the time. 3 Digital Transaction Management Real estate comes with its share of sky-high paperwork. With digital transaction management, agents can now reduce the significant amount of legwork that goes into managing paperwork. It also helps in signing documents digitally, which means physical presence isn’t needed to execute agreements and registration processes, making the process smoother and faster. Real estate clients with multiple properties will no longer need to be inundated with massive amounts of paperwork and travel. For the Record Digitalization is transforming industries at lightning speed and real estate is a frontrunner in adopting new technologies. The impact that proptech has on RE is visibly vital. The above trends are revolutionizing the real estate technology landscape. Keep an eye out to see how these trends change the way people buy and sell property.

Read More
Real Estate Advice, Asset Management

A Guide to Measure Data-driven Real Estate Asset Management Services

Article | May 9, 2023

While many workers plan, at least according to recent surveys, to continue spending at least part of each week working from home, a shorter commute still seems to be holding increasing appeal. The National Association of Home Builders (NAHB ) says its first quarter Home Building Geography Index (HBGI) indicates not only a pandemic driven shift in construction to low density, low cost markets, but a rapid expansion in areas with the shortest commutes. Litic Murali, writing in NAHB's Eye on Housing blog, says workplaces are moving toward hybrid home/office work models which could affect 30 to 40 percent of the American workforce. This will give renters and buyers increased market power over their travel times and the ability to reduce both housing and transportation costs. The nationwide average commute is 26 minutes. Those counties in the bottom quintile (lowest 20 percent) have a commute time of 18 minutes or less while the commute in the highest quintile is 28 minutes. The data show that 36.2 percent of the U.S. population resides in the counties in that top slice. The HBGI indicates that the top two quintiles with the longest commutes together had 63.6 percent of single family building. However, growth was strongest in that bottom quintile with a four-quarter moving average annual growth of 22.2 percent.

Read More
Real Estate Technology, Asset Management

Top 5 Trends in Digital Real Estate Asset Management of 2023

Article | May 30, 2023

If your lifestyle has changed recently and you’re ready to make a move, taking advantage of today’s sellers’ market might be just the answer for your summer plans. With homes continuing to get multiple offers, this could be your moment to get the contract you’re looking for on your house if you’re ready to sell. And here’s the thing – you need an expert on your side to ensure you make all the right moves when you do, especially when it comes to pricing your house. Even in this competitive market, you can’t stick just any price tag on your home and get the deal you want. A key piece of the puzzle is setting the right asking price so you can help buyers notice your home (and get excited about it) from the very first time they view the listing. That’s where a real estate professional comes in. Why Pricing Your House Right Is Important The price you set for your house sends a message to potential buyers. Price it too low and you might raise questions about your home’s condition or lead buyers to assume something is wrong with the property. Not to mention, if you undervalue your house, you could leave money on the table which decreases your future buying power. On the other hand, price it too high, and you run the risk of deterring buyers. When that happens, you may have to do a price drop to try to re-ignite interest in your house when it sits on the market for a while. But be aware that a price drop can be seen as a red flag for some buyers who will wonder why the price was reduced and what that means about the home. In other words, think of pricing your home as a target. Your goal is to aim directly for the center – not too high, not too low, but right at market value. Pricing your house fairly based on market conditions increases the chance you’ll have more buyers who are interested in purchasing it. That makes it more likely you’ll see multiple offers, too. And if a bidding war happens, you’ll likely get an even higher final sale price. Plus, when homes are priced right, they tend to sell quickly. Lean on a Professional’s Expertise There are several factors that go into pricing your house, and balancing them is the key. That’s why it’s important to lean on an expert real estate advisor when you’re ready to move. A local real estate advisor is knowledgeable about: The value of homes in your neighborhood The current demand for houses in today’s market The condition of your house and how it affects the value A real estate professional will balance these factors to make sure the price of your house makes the best first impression and gives you the greatest return on your investment in the end. Bottom Line If you’re thinking about selling, pricing your house appropriately is key. Let’s connect to make sure your house is priced right for the local market, for your home’s condition, and to stand out from the competition.

Read More
Real Estate Technology

Investing in real estate CRM? Top 8 features to improve customer experience

Article | July 25, 2022

Considering a remodeling project? Before getting started, establish a list of return on investment (ROI) goals, because not all home improvements are created equal. Some add value to the home that can be recouped when selling, while others may be nice to have but are unlikely to raise the home's asking price. Anyone who wants to focus on home improvements that will pay for themselves when selling the home should know which projects to avoid. Read on to learn about three home improvement projects with a strong return on investment. Upgraded Landscaping For homeowners looking for a better price when they sell, it's hard to go wrong with landscaping. This is one of the few home improvements that typically yields a positive return when selling the home. On average, homeowners can recoup 150% of what they spend updating a home's landscaping. Since curb appeal is a huge factor in selling a home, choose improvements that can be seen from the road for the best return. Resodding or reseeding a lawn is a project that typically provides good returns. In an arid climate like Nevada, consider landscaping with native plants, xeriscaping, and other eco-friendly desert landscaping options to reduce water usage and maintenance requirements. Adding new trees to the landscaping can pay off now and at the time of sale. Trees provide shade and natural cooling, which can take a chunk out of power bills. When selling, trees add between $1,000 and $10,000 to the selling price of a home. Creating a Dazzling Entryway Continue the strong first impression by creating a welcoming space in the entryway of the home. Upgrading to manufactured stone veneer has a return on investment of around 96%. The improvement is relatively simple but makes the front door and the surrounding area more dramatic. Even small improvements can have a big impact. Upgrade to a metal door or one with small windows that let in additional light. Find upgraded house numbers that are visually appealing and easy to see. This often costs less than $100 but can improve the look and feel of the entry area and practically pay for itself when it's time to sell. Minor Kitchen Remodeling The kitchen is the heart of the home. This is the room that is one of the top choices for home improvement projects. However, contrary to what one might expect, huge kitchen overhauls don't always yield a high ROI. In fact, less costly improvements typically have a better payoff. Small projects that can dramatically improve a kitchen include: Repainting Refacing the cabinets and adding updated hardware Replacing countertops Upgrading to more energy-efficient appliances Choosing more energy-efficient appliances is an upgrade that can start repaying itself right away. Other improvements are likely to increase the price of the home when it sells. However, on average, kitchen remodeling projects only bring in 77% of their cost when it's time to sell. Because of this, homeowners should focus on upgrades that improve their quality of life and what they are likely to get back for their investment. Some common mistakes can reduce what a homeowner will get back from a kitchen remodeling project. Investing large amounts of money on items that will need to be replaced again in a few years is unlikely to provide a positive return. Choosing items that are too high-end can cause them to clash with the look and feel of the rest of the home, which could turn buyers off. Improve Daily Life and ROI With These Home Improvement Projects Most home improvement projects do not pay for themselves in full when selling the home. Rather, they are changes that make the home worth more to the owner now, that have the bonus of a price increase when you sell the home. The right home improvement project can make any house feel like a new construction home. Homeowners should look to areas that will give them the most mileage when picking updates for their homes. For instance, old kitchen cabinets can make the room feel dull and uninviting. Refacing with a bright new finish can make the kitchen feel like a brand-new room. Adding low-maintenance shrubs to the front yard adds visual interest that can be enjoyed right away. Projects that require special permits could raise questions during a home inspection and potentially reduce the home's value—but properly permitted additions may let homeowners list a home with an extra bedroom or bathroom. Choose the updates that will provide the most meaningful benefits, both now and at the time of sale. By making the home inviting and attractive, sellers are more likely to be able to name their dream price.

Read More
Real Estate Technology

3 Proptech Trends That Are Making Waves in the Real Estate Industry

Article | July 6, 2022

Proptech, or property technology, comprises digital solutions that help facilitate buying, selling and leasing of commercial real estate. It is also called CREtech or REtech for commercial real estate technology, respectively. It usually refers to the digital tools and software used in real estate. With digitalization growing at an exponential rate across the real estate sector, proptech is evolving, here are three topmost trends in proptech that real estate solution providers must keenly follow. 1 3D House Tours Both prospective buyers and real estate agents love this technology. 3D house tours simulate a real house tour and can be viewed either on virtual reality (VR) headsets or one’s computer screen. They simplify initial interactions by enabling users to confirm their interest in a property, saving both time and visits for buyers and agents. They also allow agents to better market their properties and schedule multiple visits from the comfort of their offices. The ensuing process ensures that agents are able to provide realistic walkthroughs of their properties and eliminate friction from the get-go, making the showing as painless as possible. 2 Automated Service Desks Exceptional customer service is the name of the game in real estate and agents are expected to provide their clients with white glove service wherever possible. Conversational AI is one way that many real estate solution providers are achieving this. With round-the-clock contact channels to assist clients with the information they need, agents and brokers are better equipped to deal with queries and reduce their response time. The automation of menial tasks also ensures that they don’t have to be everywhere all the time. 3 Digital Transaction Management Real estate comes with its share of sky-high paperwork. With digital transaction management, agents can now reduce the significant amount of legwork that goes into managing paperwork. It also helps in signing documents digitally, which means physical presence isn’t needed to execute agreements and registration processes, making the process smoother and faster. Real estate clients with multiple properties will no longer need to be inundated with massive amounts of paperwork and travel. For the Record Digitalization is transforming industries at lightning speed and real estate is a frontrunner in adopting new technologies. The impact that proptech has on RE is visibly vital. The above trends are revolutionizing the real estate technology landscape. Keep an eye out to see how these trends change the way people buy and sell property.

Read More
MORE ARTICLES

Spotlight

Fidelity National Title

With origins that can be traced back 165 years, Fidelity National Title Insurance Company, through its underwriting subsidiaries, is one of the nation's premier real estate service companies, providing title insurance and other real estate-related products and services.

Related News

Real Estate Advice

Zillow unveils a new look for property pages, their biggest redesign in 5 years

PR Newswire | October 25, 2023

Zillow is launching a big update to the look and feel of for-sale property listings on its website, improving home shoppers' experience with a more intuitive and simplified layout. The enhanced design of for-sale property listings on Zillow.com offers a wider, single-scroll format, making it easier for home shoppers to find key information, such as square footage, the Zestimate feature, lot size and home type. The new layout also introduces a media section at the top of the page that better showcases photos and 3D tours. By clicking on a photo, the media section expands, providing a full-page, magazine-style layout for seamless navigation through the rest of the home's photography. "The new design delivers a fun and efficient way to browse homes on the Zillow website, making it easier for home shoppers to navigate and process information," said Jenny Arden, chief design officer at Zillow. "We introduced a wider layout for images, larger fonts for the most important facts and a clearer articulation of what makes the home special to help our users quickly understand if the home is right for them." Zillow's app updates: Navigate with ease and simplify financing with the Home Loans tab In addition to the redesign on the Zillow website, for-sale property listings on the Zillow app (iOS) are also receiving an update. This new look minimizes excessive scrolling by allowing users to more easily find the information that matters the most to them, whether that's home facts and features, a cost calculator or the Zestimate history. When viewing a for-sale listing on the app, users will see a new look that presents the home details categorized into sections such as "What's Special,"' "Market Value," "Monthly Cost" and "Neighborhood." Users can click into particular sections of interest to find more details. This new look will be available before the end of the year on the Zillow iOS app. Zillow is also introducing a new "Home Loans" tab on the Zillow app to help shoppers become buyers. Users can now easily figure out their budget, connect with a lender, get prequalified with Zillow Home Loans℠, and track their loan status — all in one place. "Financing is a critical part of the home-buying process, and 60% of buyers say setting their budget is their first step when buying a home. With this update, we're helping the millions of people browsing the Zillow app better understand what they can afford within their budget and see a clear path toward getting the mortgage they need," said Matt Daimler, senior vice president of product at Zillow. "We're already seeing an impact: Customers are saying it's easier than ever to access and use our financing tools and get prequalified with Zillow Home Loans."

Read More

Real Estate Technology

Barings and Foulger Pratt Close Acquisition of $50+ Million Build-to-Rent Community in Raleigh, NC

Business Wire | October 19, 2023

Barings, one of the world’s largest diversified real estate investment managers, today announced its joint venture with Foulger Pratt to acquire a 172-unit build-to-rent (BTR) community in the Raleigh, N.C. metropolitan area. The $50+ million acquisition marks Barings’ entrance into the BTR market and builds on the firm’s $12.5+ billion* U.S. real estate equity platform. The transaction brings Foulger Pratt’s BTR portfolio to 700 homes and approximately $250 million in investment across North Carolina and Maryland. “We believe build-to-rent is one of the fastest growing segments of the housing market given demographic trends, evolving consumer preferences, and a national housing shortage,” said Joe Gorin, Barings’ Head of U.S. Real Estate Equity. “We are excited to partner with the well-established team at Foulger Pratt on our first BTR acquisition and look forward to deploying more capital into attractively priced assets as we scale our capabilities in this segment.” “Foulger Pratt is excited to continue its investment in the Carolinas through the delivery of quality rental housing in partnership with Barings – one of the world’s leading investment managers,” said Cameron Pratt, Chief Executive Officer of Foulger Pratt. The community will consist of 89 townhomes and 83 single-family detached units situated on 39 acres in Wendell, N.C. – just east of Raleigh. The initial deliveries of homes are expected to be available for lease in H1 2024. “We anticipate strong job, population, and household growth in this emerging submarket and believe this property will be well-positioned to offer an affordable rent alternative, a high quality of life, as well as easy access to key employment centers and top-tier universities,” said Kevin Miller, Barings’ Head of Real Estate Acquisitions, Eastern U.S. Barings has been investing in U.S. real estate equity for nearly 30 years and today has $35.5 billion* in U.S. real estate AUM across equity and debt, with nearly 130 dedicated real estate investment professionals across six U.S. offices managing more than 550 assets.

Read More

Real Estate Technology

JPAR Meets Consumer Demand for Floor Plans in Real Estate Listings with CubiCasa Partnership

PR Newswire | October 17, 2023

JPAR, a leading name in real estate, is proud to announce a groundbreaking partnership with CubiCasa, a pioneer in floor plan technology. The partnership marks one of CubiCasa's first partnerships with a residential real estate brand. The companies have joined in executing a vision to bring a floor plan to every listing. In a survey by the National Association of REALTORS®, it was revealed that 67% of home buyers consider floor plans "very useful" in their property search, yet this essential feature is often overlooked in listings. Following photos and listing data, a floor plan is the most coveted data asset for consumers. "We want every interaction with one of our agents and listings to be a quality experience for consumers. This partnership empowers our sales professionals to meet the demands of modern buyers by providing them with the information they need to make some of the largest decisions in their lives," said Daniel Butbul, VP of Operations at JPAR's Affiliated Network. "Our goal is to have floor plans available on 90% of JPAR listings by the end of 2024," added Butbul. Effective immediately, agents may now register for a JPAR-sponsored CubiCasa account, accessible through the JPAR® OneStop HUB. "It's incredibly exciting to work with JPAR® on this project. They share our vision of a better real estate search experience powered by floor plans being attached to every listing, and our technology is the world's single-easiest and most-scalable solution to creating floor plans," according to Jeff Allen, President, CubiCasa. The CubiCasa app streamlines the process of creating floor plans for listings, requiring just 5-10 minutes to scan the property using almost any mobile device. Agents can then upload the scan on-site or at their convenience. CubiCasa's advanced AI technology transforms the scan into a professional-grade floor plan, which is delivered within 6-24 hours, available with and without measurements. About JPAR - Real Estate JPAR – Real Estate is a full-service real estate brand and franchise platform offering a highly competitive transaction fee-based model and agent-centric culture. The JPAR® platform provides agents seven (7) days-per-week support, a comprehensive tech stack, marketing, lead generation, training, and mentoring. JPAR® affiliated owners benefit from compliance review, 1-on-1 consulting, recruiting support, and a peer network of influential industry leaders. The company boasts more than 4,000 agents operating in 65 offices across 27 states, Washington, D.C. and closes over $8B annually in sales volume. About CubiCasa Headquartered in Oulu, Finland, CubiCasa is the global market leader in mobile indoor scanning and is known for its fast and easy-to-use floor plan app on the App Store and Google Play Store. CubiCasa's technology is used in 160 different countries and has helped create over 1 million floor plans to date. CubiCasa provides technology for the real estate, appraisal, and mortgage industries and is on a mission to digitize real estate.

Read More

Real Estate Advice

Zillow unveils a new look for property pages, their biggest redesign in 5 years

PR Newswire | October 25, 2023

Zillow is launching a big update to the look and feel of for-sale property listings on its website, improving home shoppers' experience with a more intuitive and simplified layout. The enhanced design of for-sale property listings on Zillow.com offers a wider, single-scroll format, making it easier for home shoppers to find key information, such as square footage, the Zestimate feature, lot size and home type. The new layout also introduces a media section at the top of the page that better showcases photos and 3D tours. By clicking on a photo, the media section expands, providing a full-page, magazine-style layout for seamless navigation through the rest of the home's photography. "The new design delivers a fun and efficient way to browse homes on the Zillow website, making it easier for home shoppers to navigate and process information," said Jenny Arden, chief design officer at Zillow. "We introduced a wider layout for images, larger fonts for the most important facts and a clearer articulation of what makes the home special to help our users quickly understand if the home is right for them." Zillow's app updates: Navigate with ease and simplify financing with the Home Loans tab In addition to the redesign on the Zillow website, for-sale property listings on the Zillow app (iOS) are also receiving an update. This new look minimizes excessive scrolling by allowing users to more easily find the information that matters the most to them, whether that's home facts and features, a cost calculator or the Zestimate history. When viewing a for-sale listing on the app, users will see a new look that presents the home details categorized into sections such as "What's Special,"' "Market Value," "Monthly Cost" and "Neighborhood." Users can click into particular sections of interest to find more details. This new look will be available before the end of the year on the Zillow iOS app. Zillow is also introducing a new "Home Loans" tab on the Zillow app to help shoppers become buyers. Users can now easily figure out their budget, connect with a lender, get prequalified with Zillow Home Loans℠, and track their loan status — all in one place. "Financing is a critical part of the home-buying process, and 60% of buyers say setting their budget is their first step when buying a home. With this update, we're helping the millions of people browsing the Zillow app better understand what they can afford within their budget and see a clear path toward getting the mortgage they need," said Matt Daimler, senior vice president of product at Zillow. "We're already seeing an impact: Customers are saying it's easier than ever to access and use our financing tools and get prequalified with Zillow Home Loans."

Read More

Real Estate Technology

Barings and Foulger Pratt Close Acquisition of $50+ Million Build-to-Rent Community in Raleigh, NC

Business Wire | October 19, 2023

Barings, one of the world’s largest diversified real estate investment managers, today announced its joint venture with Foulger Pratt to acquire a 172-unit build-to-rent (BTR) community in the Raleigh, N.C. metropolitan area. The $50+ million acquisition marks Barings’ entrance into the BTR market and builds on the firm’s $12.5+ billion* U.S. real estate equity platform. The transaction brings Foulger Pratt’s BTR portfolio to 700 homes and approximately $250 million in investment across North Carolina and Maryland. “We believe build-to-rent is one of the fastest growing segments of the housing market given demographic trends, evolving consumer preferences, and a national housing shortage,” said Joe Gorin, Barings’ Head of U.S. Real Estate Equity. “We are excited to partner with the well-established team at Foulger Pratt on our first BTR acquisition and look forward to deploying more capital into attractively priced assets as we scale our capabilities in this segment.” “Foulger Pratt is excited to continue its investment in the Carolinas through the delivery of quality rental housing in partnership with Barings – one of the world’s leading investment managers,” said Cameron Pratt, Chief Executive Officer of Foulger Pratt. The community will consist of 89 townhomes and 83 single-family detached units situated on 39 acres in Wendell, N.C. – just east of Raleigh. The initial deliveries of homes are expected to be available for lease in H1 2024. “We anticipate strong job, population, and household growth in this emerging submarket and believe this property will be well-positioned to offer an affordable rent alternative, a high quality of life, as well as easy access to key employment centers and top-tier universities,” said Kevin Miller, Barings’ Head of Real Estate Acquisitions, Eastern U.S. Barings has been investing in U.S. real estate equity for nearly 30 years and today has $35.5 billion* in U.S. real estate AUM across equity and debt, with nearly 130 dedicated real estate investment professionals across six U.S. offices managing more than 550 assets.

Read More

Real Estate Technology

JPAR Meets Consumer Demand for Floor Plans in Real Estate Listings with CubiCasa Partnership

PR Newswire | October 17, 2023

JPAR, a leading name in real estate, is proud to announce a groundbreaking partnership with CubiCasa, a pioneer in floor plan technology. The partnership marks one of CubiCasa's first partnerships with a residential real estate brand. The companies have joined in executing a vision to bring a floor plan to every listing. In a survey by the National Association of REALTORS®, it was revealed that 67% of home buyers consider floor plans "very useful" in their property search, yet this essential feature is often overlooked in listings. Following photos and listing data, a floor plan is the most coveted data asset for consumers. "We want every interaction with one of our agents and listings to be a quality experience for consumers. This partnership empowers our sales professionals to meet the demands of modern buyers by providing them with the information they need to make some of the largest decisions in their lives," said Daniel Butbul, VP of Operations at JPAR's Affiliated Network. "Our goal is to have floor plans available on 90% of JPAR listings by the end of 2024," added Butbul. Effective immediately, agents may now register for a JPAR-sponsored CubiCasa account, accessible through the JPAR® OneStop HUB. "It's incredibly exciting to work with JPAR® on this project. They share our vision of a better real estate search experience powered by floor plans being attached to every listing, and our technology is the world's single-easiest and most-scalable solution to creating floor plans," according to Jeff Allen, President, CubiCasa. The CubiCasa app streamlines the process of creating floor plans for listings, requiring just 5-10 minutes to scan the property using almost any mobile device. Agents can then upload the scan on-site or at their convenience. CubiCasa's advanced AI technology transforms the scan into a professional-grade floor plan, which is delivered within 6-24 hours, available with and without measurements. About JPAR - Real Estate JPAR – Real Estate is a full-service real estate brand and franchise platform offering a highly competitive transaction fee-based model and agent-centric culture. The JPAR® platform provides agents seven (7) days-per-week support, a comprehensive tech stack, marketing, lead generation, training, and mentoring. JPAR® affiliated owners benefit from compliance review, 1-on-1 consulting, recruiting support, and a peer network of influential industry leaders. The company boasts more than 4,000 agents operating in 65 offices across 27 states, Washington, D.C. and closes over $8B annually in sales volume. About CubiCasa Headquartered in Oulu, Finland, CubiCasa is the global market leader in mobile indoor scanning and is known for its fast and easy-to-use floor plan app on the App Store and Google Play Store. CubiCasa's technology is used in 160 different countries and has helped create over 1 million floor plans to date. CubiCasa provides technology for the real estate, appraisal, and mortgage industries and is on a mission to digitize real estate.

Read More

Events