The commercial real estate technology space has become a hotbed of innovation across the entire ecosystem and at all stages of the real estate lifecycle. Here are three (and a bonus fourth) Commercial Proptech entrants that we are very excited about.
Dealius Capital is tackling the lumpy nature of CRE broker cash flow. Instead of waiting for commissions to be paid at certain milestones, typically half on execution and the rest on occupancy, brokers can get their commissions advanced within 24 hours. This smooths out cash flow, assists personal finances, and opens a flow of capital that brokers can use to grow their business today. One of the exciting elements of their business is the integration with their brokerage management platform, Dealius. This allows for significant value to be gained by their clients by providing an end-to-end solution driven directly off deal activity.
If you’ve got questions (like “how much should I bid on this deal?” or “Is this tenant leasing space from me in another building?”) NavigatorCRE can help you get answers. More than that, the answers will give you insights that can help drive profits and grow your business. As an industry, we have more data than ever before, but the challenge is to control and collate this into a single source of truth, and then use it to quickly generate knowledge we can act on. I’m a big fan of NavigatorCRE’s slick UI and very visual dashboards, plus the efficiency it creates by collapsing weeklong workflows into daily insights. Integrations are at the heart of their solution, which provides the flexibility needed for medium to large scale operators to feed in all necessary information from multiple sources to get the best actionable insights.
The team at OTSO has rethought the traditional security deposit and letters of credit in the CRE space to help both tenants and landlords. Instead of locking up a lump sum of cash at the outset of a lease, OTSO writes corporate guarantees on behalf of tenants in return for a small deposit waiver fee that is added to their rent each month. Landlords gain better-qualified tenants, reduce their risk and can make better credit decisions without paying a cent, and tenants don’t have to take a hit on their cash flow and can instead invest this money in growing their business, as well as saving money overall. A seamless, streamlined experience is baked into the technology they’re building, and this slick user experience contributes to building confidence on both sides of the deal.
Any tech that you actually use!
Provided, of course, that you’ve chosen the right tool for the job, any innovation that is adopted and implemented is something to get excited about!
Seriously though, so many of the CRE practices and processes that we think are de facto, and just the way it is, have been reimagined recently. Dip a toe in the water and start to rethink how you do things. Not for its own sake, but to work smarter and more efficiently to drive more profits with the same amount of (or even less) effort.
Find out how Propdocs has streamlined CRE transactions here.
