Those of us in the Commercial Real Estate space spend a lot of time compiling data, updating spreadsheets, and paging through docs. All so we can run the fancy analysis that helps us make a decision. The heavy lifting is a necessary evil.
The value of most real estate professionals lies in the last 2% of their workflow.
The first 98% is really just so they can then get to the fun stuff – growing the business. Talking strategy. Executing the business plan.
The first 98% takes a lot of time.
As we progress through our careers, we frequently push that part of the work to the more junior team members. A few years from now, they will do the same. Updating spreadsheets monthly has become a rite of passage in most firms. We are an industry with several tasks that should've been automated a long time ago, but we've been dragging our feet. Here are 3 other reasons Commercial Real Estate technology has been slow to pick up.
Use technology that improves the first 98% of the workflow, because it’s the last 2% that holds all the value.
Give them their time back, and they can optimize the 2% that will win more deals and optimize the portfolio.Seek out technology that automates/streamlines/centralizes the first 98% like debt management software to enhance your workflow.
Your business doesn’t grow because of the heavy lifting parts, it grows from the strategic execution.
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