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The Commercial Real Estate Software Developers Should Avoid Relying On
The best commercial real estate software can offer developers numerous competitive advantages, including reducing costs, streamlining workflows, and ensuring better project outcomes. However, investing in the wrong solution can cause severe problems like overcomplicated tasks, reducing visibility, and making the journey to a successful closeout harder than it needs to be. Unfortunately, marketing hype and…
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How Does Your Real Estate Sustainable Development Policy Stack Up?
With a recession looming and a labor shortage disrupting the industry, sustainable development policies aren’t top of mind for real estate developers. But recent events, including the passage of the Inflation Reduction Act, have made it clear that needs to change.
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4 Real Estate Development Tools Project Managers Can’t Live Without
In the past, real estate project managers had to depend on force-fit solutions like spreadsheets to monitor the status of their projects. However, thanks to recent technological innovations, teams no longer have to deal with limited project visibility, instinct-driven forecasting, and laborious critical reporting.
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What Does Commercial Real Estate Analytics Software Track?
Today’s commercial real estate analytics software provides users much greater functionality and overall project benefits than force-fit and legacy programs. Developers can use them to mitigate risks, significantly reduce cost overruns, and improve project outcomes. Modern platforms can offer those benefits because they track all project data in real time. The cloud-based programs also provide insights about…
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Rising Inflation Could Cost the Commercial Real Estate Sector $733B in 2022
The U.S. Bureau for Labor Statistics recently reported that the consumer price index rose by 0.1% last month and 8.3% year-over-year. Market analysts expressed surprise that the U.S. Federal Reserve increasing interest rates by 2% this year didn’t curtail America’s rising inflation rate. The unexpected outcome also strengthened some experts’ conviction that a recession is…
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What Are Construction Hard Costs?
In commercial real estate development, your expenses will fall into two categories; construction soft costs and construction hard costs. Soft costs are related to predevelopment, like purchasing land, hiring architects, and paying inspection fees. By contrast, hard construction costs are directly related to the physical construction of a building.
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The State of Predictive Analytics in Commercial Real Estate
Predictive analytics has only played an active role in commercial real estate in the last decade, but its impact has been massive. Traditionally, developers have made key project decisions with retroactive insights and intuition. With no other options, firms have had to work around the problems inherent in depending on an outdated and inexact methodology.
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The #1 Thing the Best Commercial Real Estate Software Has in Common
Commercial real estate development software can have a powerful positive impact on a firm’s operations. By integrating a modern platform into their workflows, companies can expedite their cost reporting workflows, cut spending, and gain real-time project visibility. Modern software solutions enable development teams to become considerably more productive.
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How Real Estate Development Software Helps You Cut Costs
Succeeding in the real estate development market isn’t easy because it requires significant investments of time and money. Bringing a complex project to completion takes years of hard work involving managing hundreds of vendors and meeting the expectations of demanding stakeholders who expect a good return on their multimillion investments.