The commercial real estate (CRE) business is notoriously protective. Open data? Its a great idea in other spheres but is unlikely to become popular in CRE. The deal is king in CRE, and brokers will do what they can to safeguard any data which helps them make that deal. In the dog eat dog world of CRE its a sensible, some might say essential approach.
CRE & GIS: More $ with or without sharing
Guarding your data is one thing, but leveraging new technology to help in the sales process is quite another. Many brokers worry that if they move from paper maps and spreadsheets hidden away on their local computers, they will lose control of their data. That could not be further from the truth. Technologies like GIS, which provides maps and so much more CRE related help, can dramatically increase the number of agent/broker deals. That’s more money with or without sharing your data!
Yeah right, I hear you say. Let’s dig deeper. Let’s start with the map. Every broker needs basic mapped data: parcels, retail logo/tenant comps etc. To get this data, often this means visiting multiple public maps (county, city). How about we start by bringing all this data together in a single map. Your map with your logo and branding. Next your data. There are many ways your listings can be added to this map without sharing with the wider world.. First, your data can be made private so login and password protected. Second, a KML (or equivalent) file can be generated which can be literally dropped onto the map.
Now let’s get clever. GIS is often confused for simple mapping technology. True, its main (but not only) output is a map. But there is much more muscle under the GIS maps hood. Think about a search or filter. “Show me only the properties over a certain square footage”. More complex? “Show me all properties within a certain size range on major high volume traffic roads”. Now we are getting clever. Deeper still. “Show me drive times and surrounding demographics of my 3 key properties of interest”. I think you are getting the idea. Maybe you want to print the results of these searches. Again GIS comes with many sophisticated printing options, styled to your specifications.
We have built a GIS framework which provides the core of what we have described here. The secret sauce? Adding your data and your workflows to this base.
Is there a cheaper way? Sure with free Google maps, Excel and a graphic designer. But, as many are now finding, you can get there more easily, faster and more accurately with a GIS.
We’d be more than happy to tell you more. Email us or give us a call 801-733-0723.