As with any industry, the commercial real estate industry is an ever changing one. What was once a small community has grown into a $6.7 trillion industry which represents almost 10 percent of all institutional investment portfolios. Here are some changes that are currently occurring within the industry.

Rising Competition in Commercial Real Estate

A new influx of capital and low interest rates in 2015 dramatically increased the demand for investing in commercial real estate. This demand has changed how people are investing, fundraising, and recruiting for commercial real estate. Due to the fact that more people are investing in commercial real estate, each of these aspects have been affected. Even though 2016 has seen interest rates rise, the demand is still there.

Demand for Real-Time Data Access

In order to be successful in commercial real estate investing, investors need a real-time portfolio and market data. This will allow these investors to be better informed to make the right decisions, reduce portfolio risk, and will allow them to operate more efficiently. Using spreadsheets to manage data is now unproductive. Investors need to use software designed to keep their data up-to-date.

Increased Mobility

Unlike other industries, including residential real estate, commercial real estate hasn’t had the ability to use mobile support tools until recently. Over the past few years, many of these applications have come out which has given commercial real estate investors the ability to conduct business away from the office. Soon all commercial real estate professionals will be able to run their leasing businesses from anywhere and at any time.

The landscape of the commercial real estate industry is changing, in many ways for the better. While there’s more competition than ever, there’s also great opportunity for investors to expand on their investments by using the most recent technology that allows them to manage their data and portfolio easier and from anywhere. If you’re looking to invest in commercial real estate, call on Harkins Commercial Real Estate to help.