There Really Is an App for That

Date: 10/13/2014

In a lively conversation on a recent episode of the Commercial Real Estate Show, Todd Kuhlmann, CCIM instructor and Founder of CRE Tech, Inc., discussed the benefits of utilizing the latest apps for business and commercial real estate.

Todd is no tech gadfly. He’s an instructor with CCIM Institute, and has experience as a broker and a lender, so he knows what he’s talking about.

It’s really about the Speed of Business.

Three years ago only 8% of our information came to us over mobile devices. Today, it’s more than 50%.  Take that in: over half the information we receive now comes to us via mobile device.

The trend is toward more powerful devices, more capability in your hand wherever you go. So for a profession whose business is territory, space, place and property, what could be better?

The residential side of the business has led the field in mobile technology and social media, and for good reason. There are over one million residential agents and thousands of brokerages to be tapped as customers. Add to that the millions of residential customers who demand online shopping 24/7, and what results is a flowering of tech tools that we couldn’t have imagined a decade ago, but can’t do without today. 

By contrast, the CRE business has a pool of approximately 150,000 brokers.  On the much-hyped Product Innovation Lifecycle Curve we are hardly ‘early adopters.’  The business of mobile technology itself has had to mature, in order to be of value to commercial real estate.

Broker, investor, seller, lender, appraiser… the roles we take each have unique demands for data and information security. Plus, we don’t have the required cooperation or homogenized market listings equivalent of an MLS. So specific technology for our business has largely been custom developed for proprietary use.

So Much Power in your Pocket

But the end of the day commercial real estate is business, and there are plenty of useful business apps, sites, and ways to use them to speed up our path to success.

Presentation technology is one area that has really changed. Todd and I laughed about the thousands of dollars of audio video equipment we were once so proud of, and now the device we carry in our pockets has the power of that whole multimedia studio within it.  But Todd really underscored the importance of this: “Looking as good as or better than your competitor is always important, and you will compete against presenters using these new tools.”

The Cost of Mobile Tech

Many apps are free, or at least the basic model is free and is referred to as freemium. ‘Freemium’ pricing system is the standard pricing model for most mobile apps today. You only pay for the product when it really becomes useful to you. Then you purchase the upgrades you need according to your level of use.

The Future Started Yesterday

Mobile and social technology are here to stay. Owners and managers are adopting tech tools to solve business problems that commercial real estate professionals face every day. The trick, as with any new tool, is to learn to focus it upon your goal, and use it efficiently, as many of your colleagues are doing.

It’s coming. It may be a slower wave for our end of the business, but there is no denying the necessity of Mobile apps and media for CRE business as we move forward. Check out some apps Todd shared that may benefit your business. You can easily find them by searching the App stores.

Reflector – An AirPlay receiver that allows you to wirelessly display your iPad or iPhone on a number of devices and mirror your device on a big screen without wires or complicated setups.

Telepromt + - Teleprompt lets you enter text within the app or import text from Google Docs or Dropbox and connects with your other iOS devices through a remote interface and also includes text mirroring support for those with reflector setup.

SlideShark – SlideShark is an award-winning app used by sales professionals and other presenters worldwide to present and share PowerPoints from the iPad, iPhone and iPod Touch.

Skype –It allows users to text, video and voice call over the Internet. 

iMovie, GarageBand – mac’s amazing powerful video and audio editors.

PodOmatic - features access to audio podcasts including this show! Subscribe and listen to shows when convenient for you.

Reflector – An AirPlay receiver that allows you to wirelessly display your iPad or iPhone on a number of devices and mirror your device on a big screen without wires or complicated setups.

Telepromt + - Teleprompt lets you enter text within the app or import text from Google Docs or Dropbox and connects with your other iOS devices through a remote interface and also includes text mirroring support for those with reflector setup.

SlideShark – SlideShark is an award-winning app used by sales professionals and other presenters worldwide to present and share PowerPoints from the iPad, iPhone and iPod Touch.

Skype –It allows users to text, video and voice call over the Internet. 

Esri BAO (Business Analyst Online) – With BAO, you can quickly and easily get key demographics and market facts about any location in the US.

RCA Commercial Property Search – Get details from all the major commercial real estate property types: Office, Retail, Industrial, Multifamily Apartments, Hotels, Senior Housing and development sites.

TheAnalyst – TheAnalyst is a revolutionary app with a combination of financial calculators, investment analysis and tools designed for all commercial real estate practitioners.

MagicPlan – Creates floor plans, just by using your iPhone or iPad camera.

QuickOffice – Allows you create and edit Microsoft Office documents, spreadsheets and presentations on your iPhone and iPad.

LoopNet - The largest commercial real estate listing service online.

CoStar Go - Commercial real estate professionals can find detailed information on space for lease, properties for sale, lease and sale transaction comps and tenants, and benefit from the depth of verified, continuously updated information.

HooteSuite - Social media dashboard to manage and measure your social networks.

TweetDeck - Create a custom Twitter experience. Organize and build custom timelines, keep track of lists, searches, activity and more—all in one interface.

Waze - One of the world's largest community-based traffic and navigation apps. Join drivers in your area who share real-time traffic & road info to save time, gas money, and improve daily commuting for all.

ScanR – Lets you scan, print or fax from your phone!

ScannerPro - Turn your iPhone or iPad into a portable scanner.

LinkedIn – Social media for grownups. It helps you learn about professionals’ credentials that you wish to do business with along with displaying your own professional bio, job search, and to help generate business.

iFly Pro - Airport app with over 700 airports, flight tracking and GPS.

FlightTrack – Lets you know if your flight is on time, gate information/changes all via text alert.

Michael Bull, CCIM, is the host of the nationally syndicated Commercial Real Estate Show and CEO of Bull Realty, Inc., a U.S. commercial real estate sales, leasing and advisory firm headquartered in Atlanta. Michael on Twitter and LinkedIn.