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Marketing approaches for CRE development projects have come a long way. Attracting strong buyers now involves strategic implementation of CRE tech tools that enhance and streamline the process. It’s worth incorporating new technology that brings projects to life, clarifying details and providing context.
Drones
An important new tool in many areas of the business, “unmanned aerial vehicles,” or drones, are changing the game in property tours and site selection. Drones can be used to photograph properties from new viewpoints to provide a clearer perspective on building size and location, as well as its proximity to transportation and other facilities. Through the drone’s camera, the context for proposed construction and renovation can be clearly established. One look at the striking visual images and video provides extensive information and instantly communicates possibility.There are rules for commercial use of drones, and these are still evolving as the FAA considers new uses that are being dreamt up. Usage is very restricted for Devices weighing over 55 pounds, and there are limitations on how high a drone is allowed to fly. Currently these small drones can only be flown during the day, and they have to always be within sight of the operator. The FAA recently opened a site for registering these smaller drones.
Small drones are fairly inexpensive drones and easy to operate, but most firms leave that to specialists. Companies like Spark Aerial have come along in response to this need. They specialize in creating amazing marketing pieces for a variety of industries, including commercial real estate development.
Sensor Technology
Basing plans and marketing on data is an industry best practice, and sensor technology is becoming an important source of data in CRE. An electronic sensor can serve as a tireless assistant, gathering information and reporting round the clock from its designated location.
Traffic sensors have been around for years, and are extremely useful in city planning and evaluation of transportation systems. The data on pedestrian and vehicle traffic patterns helps these agencies to optimize the use of space and also ensure public safety. In recent years, other industries have adopted these tools to inform decision making and increase efficiency.
Commercial real estate applies this technology as a source of data on any location. It’s surprisingly easy and cost-effective to get set up and start gathering data. The hardware is very inexpensive and only requires an electrical outlet. This is a fairly trouble-free and low-maintenance technology. Support for these devices is provided by services like Motionloft, which also gather and aggregate the data for their clients. Property owners or managers can access this data at will and send useful reports to tenants and potential investors.
Sensor data are very valuable in setting the scene for proposed development. The level of traffic in a specific location helps to inform and justify all sorts of decisions related to demand, capacity, and potential returns.
Virtual Reality
Virtual reality is becoming widely used in CRE. It can be used by brokers, agents, and developers to create a remote customer experience that is very close to a physical tour of a property –and in some respects, even better. Using headsets like the Hololens is making “augmented reality” a CRE term. Services like Foundry 45 are blazing a trail and expanding our idea of how VR can be used. Using VR, potential investors can be immersed in a speculative environment, and can be given a realistic picture of proposed construction or renovation.Related tools can create 3D models that include incredible property details, and digital floor plans that can be shared in an instant. These are powerful tools for collaboration and planning, and also expand upon the level of information that can be provided to prospective investors in a big way. At sites like Floored you can find interactive 3D models, video fly throughs and other digital experiences.
