Technology is shaking up just about every industry these days, and commercial real estate (CRE) is no exception. To get a firsthand look at what’s really changing on the ground, we sat down with Jake Max, a commercial real estate professional here at Trout Daniel & Associates who’s seen the impact of these tools up close.
From AI-driven analytics to immersive virtual tours, Max shared how today’s tech is helping brokers work smarter, not harder—and what that could mean for the future of the industry.
Smarter Tools, Better Decisions
One of the most impactful developments in CRE is the unprecedented access to data and analytics. Platforms like Placer.ai are helping brokers understand shopping center health, tenant performance, and market trends with remarkable accuracy. These tools enable professionals to make data-driven decisions, reducing guesswork and increasing efficiency.
Customer Relationship Management (CRM) platforms are also playing a critical role. By integrating automated email campaigns and lead tracking, CRMs help agents nurture prospects more effectively and streamline communication. “Software has become a pivotal tool in maximizing brokers’ efficiency,” said Max.
The Rise of Artificial Intelligence
Artificial intelligence is more than just a buzzword in the CRE space—it’s a practical asset. From identifying ideal tenants for vacant spaces to comparing potential sites for new developments, AI offers a level of analytical depth that goes beyond traditional methods.
Take, for example, Placer.ai’s void analysis feature. It analyzes a site’s surroundings and market dynamics to suggest optimal tenants based on a myriad of factors. This kind of insight is incredibly valuable in strategic decision-making and forecasting.
Digital-First Property Showcasing
The shift towards digital marketing has been a game-changer for property visibility. Virtual tours, once a novelty, are now a necessity. Many prospective tenants prefer to take a virtual walk-through before committing to an in-person visit. As Max noted, “Having a strong digital marketing presence and making listings stand out has never been more important.”
Video walkthroughs and interactive tours provide potential clients with an immersive experience, allowing them to conduct preliminary research at their convenience. This not only shortens the sales cycle but also increases engagement with listings.
Adoption Challenges and Opportunities
Despite the clear benefits, the integration of new technologies doesn’t come without its hurdles. “It’s hard to teach an old dog new tricks,” Max reflected, pointing out the reluctance some seasoned professionals have toward changing long-standing workflows. However, even minimal familiarity with a tool—say, understanding just 2% of a CRM’s features—can lead to meaningful improvements.
What’s Next for CRE Tech?
Looking ahead, artificial intelligence is poised to further optimize time management and marketing efforts. From sourcing leads to refining contact databases and executing targeted campaigns, the brokers who embrace these tools will likely lead the pack.
There’s also room for innovation. One gap Max identified is effective email management software—something that could significantly ease the daily load for busy professionals managing high volumes of correspondence.
As commercial real estate continues to evolve, one thing is clear: technology is not just enhancing the industry—it’s redefining it. The brokers who stay curious, embrace change, and leverage these tools are the ones best positioned for long-term success.
Full Interview Text
TD&A: In your opinion, what are the most impactful technologies currently changing commercial real estate (CRE)?
JM: Our access to data, trend analysis, and optimization software has never been greater as real estate agents. Whether it is our ability to identify and diagnose the health of shopping centers and individual tenants through platforms like Placer.ai, or to program automated email drip campaigns for potential leads and prospects through CRM integrations, software has become a pivotal tool in maximizing brokers’ efficiency and ability to generate business.
TD&A: How is artificial intelligence (AI) improving data analysis in CRE?
JM: In many instances, artificial intelligence is able to generate ideas or solutions that might not have intuitively occurred to a broker. In situations where a broker might be struggling to identify the best tenant for a vacancy at one of their listings, or a client is having a hard time choosing between two potential sites for their next location, AI can often offer a level of analytical depth that is lacking from more traditional resources.
TD&A: Can you share an example of how AI assesses market trends or investment opportunities?
JM: The simplest example of AI assessing market trends is Placer.ai’s void analysis tool. For any site, the AI will generate a list of ideal tenants, based on a large number of underlying factors and variables. These analyses factor in comparable markets, growth trends, and strategic opportunities to generate a comprehensive score for each recommended tenant.
TD&A: How have virtual tours changed the way properties are marketed and leased?
JM: I have found that many prospects are now requesting a virtual tour before they are willing to schedule a physical tour of a site they are considering. In the digital age, many business owners and decision makers are doing as much research as they can online, before ever going to a tour a property—having a strong digital marketing presence and making listings stand out has never been more important for converting potential prospects into deals.
TD&A: Are there other tools or platforms that improve a property’s viewing experience?
JM: One trend I’ve noticed is the benefit of offering virtual tours to potential prospects. While there is no replacement for in-person showings when it comes to site selection, many prospects are now doing a significant amount of research on their own time, before they ever schedule a showing with a real estate agent. Considering this reality, I’ve found that there is more of a demand for video walkthroughs and virtual tour opportunities.
TD&A: Have there been any challenges integrating new technologies in CRE?
JM: As the saying goes, it’s hard to teach an old dog new tricks. To that effect, I think it’s very difficult to convince successful professionals with decades of experience to tinker with their tools and processes. Still, I think once most brokers see how much tools like a CRM platform can help boost their efficiency and increase annual revenue, they are relatively open to learning these new tools.
TD&A: What advice would you share with other CRE professionals wanting to stay ahead in the tech-savvy industry?
JM: You don’t have to be an expert in a software platform to get value out of using it as a tool. Often, understanding 2% of a program’s capabilities can be enough to move the needle in a tangible way.
TD&A: What advancements in technology do you believe will impact CRE in the next 5-10 years?
JM: I believe that more than anything else, technologies like AI will allow brokers to become more efficient with their time. Whether it be identifying prospects, finding the appropriate contact information, or automating targeted marketing campaigns, these tools will allow those who leverage them to be more efficient and productive with their time.
TD&A: Are there any innovative tools that you wish existed?
JM: This may seem elementary, but I’ve seen several different attempts at software solutions for more efficient email inbox management. I have yet to see an offering in the market that truly impacts a professional’s ability to sift through hundreds of emails a day, and respond as needed.
About Trout Daniel & Associates
Trout Daniel & Associates is a full-service commercial real estate brokerage serving investors and businesses throughout the mid-Atlantic and beyond. The firm takes a highly-customizable approach to providing a full range of commercial real estate services, including brokerage, development, consulting and management to the retail, office, industrial, multi-family and investment market segments. For more information, call: 410-435-4004 or visit: www.troutdaniel.com.