3 Examples of Brokerages as Tech Providers
Now that more information is available online to the client, commercial real estate brokerages must prove their value. Some leading firms have “got the memo” and are developing and providing cutting-edge tech tools designed specific for the commercial real estate industry. Check out these tech tools offered by some pioneering commercial real estate brokerages.
One of the latest developments from JLL, Insite is an interactive tool for the worksite planning process. It is designed to visualize space needs and estimate build out costs, speeding up the planning and development process. The tools works with architects and designers to create 2D AutoCAD and 3D Revit floor plans that are code-compliant and include walkthrough visualizations. The tool then uses these plans to automatically calculate a build out budget.
"A good buildout plan must include an accurate, reliable budget to ensure a tenant's vision can be realized," said Todd Burns, President of Americas Project and Development Services at JLL, said in a statement. "InSite pulls in cost data that we've collected for our Office fit out guide, and allows project teams and our clients to see instantaneously how changes to the plan will impact their budget."
Today’s commercial tenants expect more from their workplaces. Naturally, the modern building is equipped with more amenities. CBRE 360 helps create better workplace environments. Embedded into CBRE business lines like Global Workplace Solutions and Asset Services, CBRE 360 gives single-point access to building amenities through its proprietary mobile app.
“CBRE 360 will help our clients create destinations of choice,” said Mike Lafitte, Global Group President at CBRE, in a press release. “Professional and personal lives are continuing to converge and higher expectations are being set for the workplace. In light of this, CBRE 360 will help our clients reimagine the delivery of property services, amenities and enablement technologies to attract and retain top talent and foster collaboration and productivity.”
Cushman & Wakefield
More commercial real estate owners and tenants are concerned about their building’s impact on the environment and their bottom line. Cushman & Wakefield’s partnership with Lucid Building OS provides a smart building management platform to equip teams with their energy data. This leads to better energy efficiency and investment management.
"This collaboration combines Lucid's outstanding technology with Cushman & Wakefield's vast real estate and facilities expertise to improve building efficiency for our clients," said Steven Quick, CEO, Global Occupier Services, Cushman & Wakefield, in an announcement of the partnership. "With this new platform, we have strengthened our ability to help clients achieve reduced operational costs and enhanced sustainability, in addition to driving occupant satisfaction and productivity."
By no means are these three the only examples of commercial real estate brokerages assuming the role of a technology provider. Some firms acquire startups as part of their developing programs, like CBRE’s acquisition last year of virtual reality firm Floored. Others create arms like JLL Spark to look for new technological opportunities. Regardless of how brokerages approach their tech development, the strategy is clear: technology innovation is how firms win real estate clients.