Assetsoft - Blog #CRE

The AI Co-Pilot in Real Estate: Why Consultants Still Matter

Fri, 09 Jan 2026 02:26:28 -0500

The narrative surrounding Artificial Intelligence (AI) often fluctuates between two extremes: the utopian promise of total efficiency and the fear of professional obsolescence. In the global real estate sector, an industry built on high-stakes capital and deep personal transitions, the question is no longer whether AI will change the landscape, but how the human consultant thrives within it.

As we move through 2025, the data is clear: AI is not a replacement for the real estate consultant. It is their co-pilot. For residential buyers, commercial investors, and institutional giants, the evolution of this role is creating a new standard of "Augmented Advisory."

1. The "Data vs. Context" Divide

AI is peerless at processing Information, but it consistently struggles with Intelligence.

Current Automated Valuation Models (AVMs) and AI agents analyze millions of data points from historical sales and square footage to local crime rates to produce valuations in seconds. However, an algorithm cannot account for the "intangible premium."

For the Residential Buyer: AI cannot "feel" the natural light in a living room or recognize the subtle shift in a neighbourhood’s "vibe" that precedes a price surge.
For the Institutional Investor: While AI can flag a 10% dip in a REIT’s performance, it cannot interpret the political nuances of a new zoning law or the specific reputational risk of a particular developer.

The Evolution: Consultants are moving away from being "information gatekeepers" and becoming "contextual interpreters." They use AI to gather what, so they can focus on explaining the why.

2. The Psychology of High-Stakes Negotiation

Real estate remains one of the few asset classes where the "bid-ask" spread is often closed through human psychology rather than cold math.

While AI can simulate negotiation tactics, it cannot perform the "Art of the Deal." Effective negotiation requires reading micro-expressions, sensing hesitation, and building the emotional bridges necessary to close a complex transaction. In a multi-million-dollar commercial acquisition, trust is the primary currency. AI cannot hold a fiduciary duty; it cannot be held ethically or legally accountable in the way a licensed consultant can.

3. The Yardi Advantage: Maximizing ROI through the "Connected Ecosystem"

While the human consultant provides the strategy, Yardi provides the engine. For global real estate giants and REITs, achieving the best Return on Investment (ROI) is now about marginal gains across a massive, connected ecosystem.

Through its Virtuoso suite, Yardi has transitioned from a management tool to an AI-powered value-creation platform.

A. Eliminating "Data Leakage"

One of the silent killers of ROI is "data leakage" - the loss of value due to fragmented systems and manual entry errors. By unifying property management, accounting, and investment oversight into a single database (Yardi Voyager), stakeholders eliminate the need for manual reconciliations.

ROI Impact: Pilot users of Yardi's AI agents have reported cutting month-end financial closing times from over 20 hours to under 5 hours.

B. Operational Alpha through Predictive Maintenance

Through Yardi Elevate, the platform moves from reactive to predictive. AI identifies early failure patterns in building systems (like HVAC).

Cost Reduction: Predictive maintenance can reduce operational expenses (OpEx) by 10–20% annually.
Value Retention: Proactive care boosts Net Operating Income (NOI) and protects the asset's long-term valuation.

C. Precision Revenue Management

Yardi’s RentCafe Chat IQ uses natural language processing to handle 24/7 lead engagement. It ensures no prospect is lost, increasing conversion rates by up to 20% without increasing staff headcount.

4. Institutional Transparency and Investor Confidence

For institutional stakeholders, ROI is often tied to the cost of capital. Transparency lowers risk.

Investor Manager Portal: Yardi provides branded, real-time portals where investors can see performance metrics (IRR, Equity Multiples, NAV) on demand.
ESG Compliance: As global regulations tighten, Yardi’s ability to track and report on ESG metrics (energy usage, carbon footprints) protects assets from "brown discounts" and ensures they remain attractive to green-focused capital.

5. What This Means for You: The Client Perspective

The integration of AI-powered consultants and platforms like Yardi doesn't just benefit the firm; it fundamentally changes the experience and the "Bottom Line" for the client.

A. For the Institutional Stakeholder & REIT: Unprecedented Transparency

In the past, reporting was a "rear-view mirror" activity. By the time you saw the data, it was 30 days old.

Real-Time Clarity: Through Yardi’s Investment Manager, you gain a "glass-box" view of your portfolio. You see real-time IRR, occupancy trends, and capital call statuses.
Risk Mitigation: AI identifies market volatility or tenant defaults before they happen, allowing your consultant to pivot your strategy before the capital is at risk.

B. For the Commercial Investor: Speed to Market

In a competitive global market, the "first-look" advantage is everything.

Rapid Due Diligence: What used to take weeks of manual document review is now processed by AI in hours. Your consultant can provide a comprehensive risk-benefit analysis of a building in the time it used to take to simply sign an NDA.
Data-Backed Yields: You no longer have to rely on "projected" yields. You get data-validated models based on real-time market absorption rates.

C. For the Residential Client: A Frictionless Journey

The stress of buying or selling a home is often rooted in the "unknowns."

Hyper-Personalized Search: Instead of scrolling through thousands of irrelevant listings, AI curates a "shortlist" based on your specific lifestyle needs, while your consultant handles the complex legal and emotional nuances of the closing.
24/7 Responsiveness: AI handles the administrative "When can I see the house?" queries instantly, freeing up your consultant to focus on the high-level strategy of your offer.

Summary of ROI Drivers with Yardi

Feature	Primary Benefit	ROI Lever
Virtuoso AI Agents	Automates 70–90% of routine workflows	Reduced Overhead (G&A)
Yardi Matrix	Real-time global market intelligence	Better Acquisition Cap Rates
Procure to Pay	Automated vendor and invoice management	Cash Flow Optimization
Advanced Budgeting	High-fidelity scenario modeling	Risk Mitigation

Conclusion: The New Standard of Excellence

The real estate consultant of the future is a hybrid professional. They are tech-fluent enough to command AI tools like Yardi Virtuoso, yet human enough to manage the anxiety of a buyer or the scepticism of a board of directors.

AI will replace the "transactional" agent, the one who merely fills out forms. But for the professional consultant who provides strategic foresight, emotional intelligence, and ethical stewardship, AI is the ultimate force multiplier.

The industry is not becoming less human; it is becoming more precise.

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How can Commercial Real Estate leverage RPA for business growth?

Sat, 07 Jan 2023 07:15:58 -0500

Robotic Process Automation (RPA) is truly reinventing the way people run their businesses, and real estate is not very far behind in catching up with this trend. Commercial Real Estate especially can benefit a lot from RPA applications and bots integrated into their office systems. Why? The massive workload of any CRE business is unsettling at times, and property managers and business owners can get overwhelmed by the load.

Globally, employees spend more than 10 - 25% of their time doing repetitive office tasks. But luckily, there are many office tasks that are repetitive and tedious, to say the least, which might be boring but have the potential to be automated. This is where RPA comes into play. Automation Anywhere research says that more than 70 - 80% of such office tasks can be automated entirely with RPA bots.

If you are a Commercial Real Estate business owner or manager, you are in the right place. Read this blog to get an in-depth understanding of how you can save a lot of time and money and make boring office work more efficient with RPA and positively impact your ROI.

Opportunities of RPA in CRE

With proper technology selection in project management for real estate, you can seamlessly manage an overwhelming CRE business. Business Insider reports confirm that employees spend 40% of their time in a workday just completing data entry jobs, and it has become one of the most hated work things. And Commercial Real Estate sure does have a lot of back office work with the many properties they have to handle under their portfolio. Here is a list of the diverse uses of RPA your strategy and leadership body can look into for better business.

Compile documents, both legal and contracts, for new and old tenants. CRE documents are filled with bulky data work, and imagine that bots do that? That can happen with RPA; it will free up valuable time from your employees' workday and get the boring tasks off their plates.
Running background checks on all suitable, prospective tenants, their business history, their economic conditions, criminal history, etc.
Automate all data entry work, including reconciliation work and document verifications. Bots can even show red flags for any discrepancies in data and let you manage them before they curveball into a hindrance in your business process overview.
RPA can help you keep up with strict deadlines, send you automated reminders on upcoming deadlines, and help you meet up with all tax and legal compliances of the Financial Accounting Standards Board (FASB).

Commercial or Corporate Real Estate companies also have a huge staff working for them due to the vast number of properties they manage; managing this staff can also be done with the help of RPA. This will help you monitor and achieve workspace optimization.
You can also manage purchase orders with RPA, track payments, send reminders to multiple vendors, manage all customer databases and streamline the process.

Opportunities of RPA in portfolio or asset management

Any CRE company has many properties under its umbrella, and the numbers keep growing constantly. But keeping a constant update on the sale of properties, tenant turnover, and new property inclusion, RPA bots can quickly update this information and not wait for your on-ground staff to update your office staff and then get it updated.

The RPA bots can make updates in real-time and faster to never let you lose out on clients. Read on to know some other exciting uses of RPA in facilities management or portfolio management.

You can pre-schedule all activities on your facilities with RPA - like janitorial work, maintenance work, etc.
You can also monitor all utility spending in your facilities; you can keep track of the energy usage of your assets.
RPA bots can review any payments you make and remind you of any necessary or redundant spending on any of your assets under your portfolio.
It can also help in the asset documentation process. There are many assets that are the same in all your properties but still need to be taken care of. Such repetitive tasks and management can be done with bots. It can also help in the asset documentation process.

The inventory of your portfolio can be seamlessly managed and updated with RPA.
When your real estate is commercial, there are many different properties. Each has many different units under it; visiting everyone individually is a waste of time for your employees. It is better to get bots to do the job for you. RPA can help you draw up data on the carbon footprint levels and check their standards for sustainability for all your properties at the same time.

The Sustainability Accounting Standards Board has observed that focusing on environmental, social, and governance (ESG) factors can help real estate business growth. Even commercial real estate investors are increasingly encouraging these changes and want to do their part in reducing the carbon footprint of real estate. Deloitte data had similar findings and backed up this data that even customers are demanding more sustainable real estate projects to invest in, more than 74% of the surveyed population had the same view.

Furthermore, RPA can reduce paper processes and reduce field visits of your staff; it can help in many different ways to achieve sustainability.

RPA bots can integrate well with your existing project management software, and together they can digitize all of your office work. Compiling utility bills, property occupancy data, vendor management, and making regular reports based on data findings can happen with your bots.

How can Assetsoft help you with RPA integration

At Assetsoft, we can customize an assistive technology implementation plan for your business. We have options to customize the RPA bots with UiPath software and help you leverage the best of technology to manage your properties and back office work at the same time.

We can help you integrate project management UiPath and automate all of your tedious and heavy work and free up your time to focus on other business plans. Our team of real estate technology experts and engineers are here to guide help you through the integration and staff training process to let you make optimum use of the software services.

Talk to us to understand how we work.

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Workspace is Changing Post-pandemic - Real Estate must Adapt to the new trends

Sat, 07 Jan 2023 07:07:14 -0500

If you are a commercial real estate owner or manager, you must familiarize yourself with the rising trends in workspaces. Office spaces leasing businesses were one of the worst hit during the pandemic when the world started working from home. But every industry shifted and adapted in its own ways in response to the pandemic, and commercial real estate was no different.

But there is a high chance that real estate will see some permanent changes in the coming years. Many trends are already changing, like the idea of office space is completely changing due to the advent of remote work. FlexJob’s 10th Annual survey found that 97% of employees are looking for complete remote work in the coming years. Employers and companies are taking this seriously and reimagining how they describe office space. Even big giant employees like LinkedIn and Twitter are also offering permanent remote work options to their employees.

While some people did predict that traditional office work and workspace will make a comeback, the reality looks a little different at present. To know all about the change of workspace post-pandemic and how real estate can adapt to it, read this blog.

What will office spaces look like for CRE owners?

For owners and investors in office spaces, the two years of the pandemic were a downward slope. But the tough times have also brought some new market trends. Here is what office spaces are starting to look like, and more adaptation is likely to happen on it with time. Check them out.

Hybrid offices will stay for long

A CNBC news report on a Mercer HR study found that more than 70% of employers and companies plan to make hybrid work a permanent model. Why this move? EY survey reports say that more than 50% of employees will quit their jobs if they are not allowed work flexibility after the pandemic. Companies have got to take this seriously and rethink their own strategy and leadership to change their office space and culture.

Since this trend is rising, CRE owners need to be aware of this trend. What does it look like? All employees will not be present in the office at all times, and this means that many companies will look for smaller office spaces. They will save money on rent and make smaller investments. CRE owners can easily split up their big spaces, divide them up, and rent them out as smaller individual offices in line with this trend.

Open floor plans will decrease, but open office space will increase

Co-working culture and spaces will likely suffer a lot after the pandemic. Why so? Most companies will consider their employees' safety and ensure they have their own enclosed spaces to work in, without external contact. This will mean that open floor plans without boundaries and space division, such as in coworking spaces, will decrease.

But there is an opportunity in this too. The demand type will change, and companies will likely demand more open spaces in their own offices to promote employee well-being. Office real estate owners need to take notice of this trend and revamp their offices accordingly.

Lease options will be more flexible

The need for office space can not completely disappear, and after two years of the pandemic, though many people are working from home, many are also going back to the office. The main idea is to have more hybrid work than before. This will also promote a culture of flexible leasing options. Like two companies can get into an agreement within themselves to use the same office space but on alternate days of the week. CRE landlords and business owners need to be prepared for such flexible offers to stay afloat in business.

Another big aspect is where a chain of office space owners will offer their space to employees across the whole nation, no matter where they are based. Such leasing options also need to be present, and companies should be allowed to scale this as per need.

Combine leisure with office space

Post-pandemic, the whole world has started to take their own mental health and their employees' mental health pretty seriously. Harvard Business Review pointed out that now most companies have changed their policies, office spaces, etc., to better focus on employee wellbeing. For this to work out properly, office spaces must combine leisure and work. Office space providers need to provide games rooms, common areas, cafeteria options, and such to help manage this trend.

Tenant screening is a must

If you have been in the CRE business of leasing office spaces for a while, you already know that you have to work with different kinds of tenants. But, business is already suffering a lot due to the pandemic, do not let them suffer more due to fraudulent tenants. You need to start using a selection of technology in project management to screen your tenants. This will allow you to run a background check on them, their business standards, and their employee records. This will also help you understand their long-term business intentions so that they do not scam you and leave in-between contracts.

Reimagine property management and operations

During the two-year pandemic, tenants and property managers had to adapt and change how they handled business. From remote property management to digital rent payment, everyone played their part in adapting to a new technology selection. You need to automate most of your property management work and operations to promote remote work in your offices and retain your employees.

Partner with Assetsoft Today!

Are you struggling to understand which strategy in project management will work best for you? The pandemic is already causing a lot of roadblocks for most real estate businesses; do not add bad leadership and lack of strategy to this mix. Get in touch with the strategy and leadership team at Assetsoft to handle the situation better with expert help.

Get in touch with us to know more about our services. Book a free one-hour consultation call with our team to talk to us about your future plans.

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Best Practices to Manage Multi-location CRE Portfolio

Fri, 06 Jan 2023 10:30:49 -0500

When real estate companies see higher demand in a particular area, expansions and new real estate development is bound to happen. For Commercial Real Estate (CRE) this change happens even faster than for residential real estate. Most CRE companies already have multi-location facilities under their portfolio and it is a logistical nightmare to manage all of them at the same time and still keep the business up and going.

The management strategy and leadership in your company must be planned accordingly to make this portfolio management smooth, and it can not be done singlehandedly. Many factors can at times, influence portfolio growth, and your project managers need to be ready for all of it. You need a proper selection of technology in project management and a considerable workforce to get the work done. If need be, partner up with a project management consultant to help plan the strategy ahead if you see yourself expanding your CRE business in the future.

Read the full blog to know what they are and how we can help you leverage them to scale growth.

Top 7 tips for managing multi-location CRE

Here are the best industry tips for multi-location CRE project management. Read on.

Have a CRM software for real-time inventory data

When your business is functioning in multiple locations, it is difficult to keep track of all facilities, inventory, and sales in real-time. And if you plan on doing the whole work on excel sheets, it is sure to be a living nightmare for your whole team. You need CRM software like Salesforce or ZOHO to keep track of your inventory.

With the right technology implementation, you will no longer have to go through bulky paperwork or boring excel sheets to find data. Your staff can upload data on the CRM dashboard from remote locations, and you can be immediately updated about sales or tenant turnarounds. To reinstate our beliefs, Market Watch data believes that as many as 88% of excel sheets have errors in them. It is in your best interest to avoid this path and rethink your strategy a little.

Employee multiple property managers

If you are a CRE business owner, it is impossible to manage all your properties and units alone. You need to employ property managers for each location and assign a certain number of units under each. This will speed up your work and provide each property manager enough time to focus on sales, property tours, facility management, marketing, and operation of properties and offer a wholesome experience to existing and potential customers.

Use property management software too

There are many different property management technologies in the market, like MRI software or Yardi software. This technology selection in property management can automate many of your tedious office work like back office accounting, rent collection, quick CAM reconciliation, tenant onboarding, and much more. Such software also has an easy-to-use dashboard, and your employees will hardly need any training to work on these. There is no more trouble in handling bulky data for your multi-location CRE projects when everything can be remotely accessed with the right SaaS integration plan.

Customize each property based on the adjacent market

Do not use the same formula to develop all properties under your portfolio. Even if the same investors and landlords own all your CRE properties, you need to customize your strategies of marketing and development plans for each property based on the market demand. Some locations may demand open office spaces, while others may have a demand for hybrid workspaces or co-working spaces. Do proper competition analysis and market research to understand what is trending in demand.

Always use a construction management software

CRE property constructions are enormous and time-consuming, and quite impossible for humans to keep track of all the logistics of it. It is a much more ingenious idea to start using construction management software like Procore to help in project management. Construction management software can make coordinating between vendors, investors, landlords, and property managers much easier.

You can remotely track work progress without visiting the sites and take steps to fasten the work if need be. Your offsite and onsite teams can connect in real-time and share data for better management. You can also use this software to check the safety of sites and maintain all health and safety compliances.

Get help in asset management

You can use your existing real estate property management software to manage all your assets. Working and developing properties in multiple locations will see a sudden growth in your assets. Do not leave them unattended; understanding which assets are giving you better returns and which need to be upgraded can be kept track of with management software. You can keep all your tenants happy at all locations if you auto-upgrade the assets at their facilities before complaints start piling up.

Proactively react to customer needs

No matter how overwhelming your number of properties is, you need always be proactively in reacting to customer needs. You need to take constant feedback from your tenants and residents to upgrade your properties accordingly. If you are proactive, then you will be able to maintain a healthy tenant-landlord relationship and get ahead of the competition in no time.

You can also use RPA bots made by UiPath to automate responses to customers when they raise issues on tenant portals. These RPA bots will human actions for you and also make your customer's time feel valued while you sort out other matters of importance.

Technology selection for CRE portfolio management with Assetsoft

At Assetsoft, we have a team of real estate experts and software developers who can help you strategize in this process. Through years of experience, our team has gathered insider information on which project management best practices are good for your CRE business.

Our team can also help you make the right technology selection in project management. We have software integration options for all your real estate needs from asset management, property management, inventory management, and construction management; we have software integration options for all your real estate need. We can even help you customize your software features based on your business needs.

To know more about how we work, book a free consultation call with us and discuss more. Talk soon!

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8 Best Industry Tips to Beat the Competition in CRE

Thu, 08 Dec 2022 08:51:00 -0500

Commercial real estate is a dynamic and ever-changing market which is full of surprises for real estate business owners and customers alike. Add the pandemic to this mix, and the industry became even more volatile. Bloomberg News reports from December 2020 found out that there were over 1 billion unsold hotel rooms in the USA, and retail shopping was down by 70% because people shopped online. This means CRE spaces like shopping malls, hotels, and restaurants did not have a business even during peak season.

But since the effects of the pandemic are going down, business is bouncing back. But there are too many options for the customers right now and huge competition for business owners. So, what do you do to get ahead of this competition?

You get expert help in project management, strategy, and leadership planning to beat your competition. Other than that, there are some quick tips and solutions to give your business a competitive edge over the others. Read this article to know more about them.

CRE Market Trends after the Pandemic

Many CRE market trends are shaking up the industry at present. Check them out to make an aware strategy to beat your competitors.

Use of the latest selection of technology in project management to automate work and make it remote.
Office spaces will change due to the pandemic and remote work, but they will not shut down.
Retail shopping has not fully recovered, but e-commerce has raised the demand for warehouses.
Focus on sustainable real estate to reduce the carbon footprint of this global industry.

Top 8 tips to beat the competition in CRE

Here are some top tips to help you make more sales and get ahead of your competitive brands.

Humanize your company

Real estate sales are all about human contact. Even if it is commercial real estate and not residential, you need to connect with your customers regularly and make them feel valued to get their business. Why? Hubspot stats say that more than 90% of Americans depend on their decision on the quality of customer service to decide if they will repeat their business with a company.

The customers you deal with may be one of these 90% people, so make sure you up your customer relations and stay directly connected with them to amp up your sales. Sending them customized offers and exclusive benefits and talking to them in detail about their real estate needs can be a few of the things you can do to get ahead.

Define your target audience

Every business should have a target audience in mind. Experts say that if you believe the whole world is your customer, then you are wrong. You need to cater to a specific group of audiences to customize your marketing and sales plan based on your audience. How does it work?

Understand which social media your target audience spends the most time in. What is your competitive brand doing to communicate with this audience? Are you doing anything to provoke the thoughts of your target audience? Find the answers to these, and you are good to go.

Minimize site visits and speed up sales

Minimizing your site visits, be it construction sites or property tours, will help reduce your carbon footprint. It will help you cater to CRE trends and also create a USP for your business. You can also use virtual tours and drone views of properties to get a competitive edge.

Do competition analysis

What is your competition doing in business, be it social media, business strategy and leadership, or daily back office work? Do a thorough competition analysis to get a clearer picture of the market trends and what is going on around you. Do not let your potential customers tell you that a said brand is offering more than you have clear responses to such queries.

Attend industry-related events to build network

Your vendors, investors, developers, agents, competitors and customers make up your network in the real estate industry. So no matter who your competition is, you need to stay connected with every stakeholder in the real estate market to stay aware and grow your outreach. Attend industry-related events like conferences, seminars, etc., to build up your knowledge about the latest trends and accordingly plan strategy.

Always cater to your local audience

CRE businesses are mostly huge in size and have national and international dealings, but never forget to cater to your local audience. Why? You have a chance to communicate with them directly. Also, local people always tend to look for property buying or renting options within their known areas. Never forget to tap into this market in between your plans to grow and hit the national market.

Your online presence is a must

According to NAR reports, more than 97% of customers looked for properties online during the pandemic. More than 76% of them used mobile or tablet devices to conduct these searches. This is enough reason to strengthen your online presence. If you still live in the pamphlet and word-of-mouth phase of business, then you are already losing business that you don’t even realise.

The number of millennial homebuyers is increasing by the day and they are here to change the way you see the industry. Millennials check everything online before they set their hands on a product, be it a property or a toothbrush. So, build your website and your social media presence before anything else.

Always have competing property listings

It is not possible that the same company owns all the real estate listings in one complex, mall or property. So it is important that you know everything about the competitive listings inside the same building to help better your negotiations with your clients. Make sure to do your homework!

Plan your strategy and leadership with Assetsoft to beat competition

For all your real estate strategy and leadership needs, Assetsoft has a team of experts who can help you get a better grip on the situation. This is a cut-throat competitive market, and you need to plan better to hit the right chords with your customers and drive up sales even with competitors lurking around.

Give us a call to manage your projects and plan strategy and leadership.

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8 CRE Trends that Will Drive the Real Estate Market in 2023

Wed, 13 Jul 2022 18:21:49 -0500

Commercial Real Estate (CRE) was and always has been a dependable form of investment and business. The prices and market for CRE hardly ever went down without any significant economic incident. But the recent two-year-long pandemic and the associated economic turmoil made the CRE market quite volatile.

Many changes in interest rates, supply chain issues, low demand for office spaces or retail shopping areas, and rapid changes in technology selection in the real estate sector have added to this volatility. These rising trends are full of challenges that come with their own set of opportunities, and you can get on top of these trends with the correct planning. But there are no trends you can not handle with a bit of change in your strategy and management systems.

Even though all the uncertainty, market reports have found a 4% rise in the CRE market in 2022, and there are multiple factors affecting this rise. Read this blog to understand how you can steer these CRE trends to work in your favor and make them positively impact your ROI. At Assetsoft, we have carefully curated a list of the top 8 CRE trends dominating the market in 2023.

These 8 trends will drive the CRE market

We are already halfway there in 2022, and these trends are here to stay and make long-term changes in the CRE biz. Check them out and take them into account while planning your strategy and leadership to better your business and management plans.

Retail is being reshaped

Retail shopping was badly hit during the pandemic due to all the social distancing norms and travel restrictions. Leisure shopping or shopping for non-essentials took a backseat. Since then, malls and other retail outlets have been grilling under pressure and are yet to bounce back to their original form. But there is a high inclination toward retail being reshaped. People are now going for hybrid shopping options where they choose a product from a company’s online website or app and place an order. Later they drive by the retail outlet and pick up their order. For this new type of business, retail shops need to replan their inventory management and get in new storage spaces to handle this extra load.

Multi-family homes are in demand

There is a rise in demand for multi-family homes. Why? Remote work is slowly being removed from most company policies, and employees are called back to offices. Many first-time renters, fresh graduates, and college students who had moved back home or to the suburbs during the pandemic are now heading back into the cities. They are all looking for cheap rental options, and multi-family homes are the answer.

The industrial sector is consistent

Industrial construction in CRE is still consistent as before. With the high demand for e-commerce goods and to produce them and get them delivered, the industrial sector real estate remains popular. Factories and warehouse spaces are in high demand to make and store the added orders coming in through online shopping portals. Forbes reports back up these changes; e-commerce saw a 14.2% rise between 2020 to 2021 and a 50.5% rise between 2019 to 2021. Among these, Amazon accounted for over 40% of the sale. This is why Amazon went on to increase its number of warehouses around the country.

Tourism real estate to rebound

Tourism and hospitality real estate are slowly but steadily getting back in business. When the pandemic hit the world, this industry was one of the worst-hit. Travel is treated as one of the most non-essential, and both leisure and corporate took a backseat in people's priority lists. But in the present age, people are rethinking tourism to help beat the pandemic blues. New hotel spaces to encourage “workation” crowds where they offer both working spaces and leisure options under the same roof.

Offices types set to change

The typical office space is being reimagined after the pandemic. Hybrid workspaces with more open spaces and workstations are rising in demand. Both offices and their employees are now focusing on leisure and relaxation offices and work. If you are a real estate property manager or owner of office spaces, you must consider these demands to make more sales.

Investment in technology

The use of PropTech is on the rise. There is much new-age tech that is shaking up the real estate market. You can do a lot with the correct technology, from integrating software like Yardi or MRI to automate your property management work to using autonomous drones for home tours. You can also use RPA chatbots or CRM software to automate customer communication.

Mixed-use properties are rising

Another major CRE trend is the rise of mixed-use properties. People no longer want to travel in their cars and get far from home to access other amenities. CRE is now developing properties and complexes which residential spaces, office spaces, retail outlets, recreational facilities, and shopping malls all under the same compound. This gives tenants are wholesome life within the same compound without setting foot outside or working hard to get to their things of need.

Sustainable real estate is crucial

Forbes news reports have pointed out that real estate accounts for 40% of the global carbon emissions. That is a scary number, and CRE is a major contributor to this problem. But the present tenants or homebuying crowd are the millennials, and this generation is highly conscious about the environment. You need to make an effort to make your real estate more sustainable or try to build zero-net energy homes to cater to this crowd. Why? This generation is ready to pay for more eco-friendly housing options than invest in non-sustainable properties.

Investing in the right technology for your CRE business with Assetsoft

CRE business owners creatively handle the situation to get ahead of the curve. The right innovation, proper strategy, and leadership clubbed with the correct technology selection can do wonders for your CRE business, even if the market is unpredictable.

If you and your team are new at handling technology, then we got your back. At Assetsoft, we have years of experience in the selection of technology in project management. From managing properties and automating construction to asset management, the proper software integration can streamline everything.

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Are Mixed-use Properties in Trend? How can you benefit from it?

Fri, 08 Jul 2022 11:51:00 -0500

Mixed-use properties are intentionally developed in a way that they cater to more than just residential or retail shops. These mixed-used properties can cater to several different audiences, from residents to office space holders to retail shops, schools, etc. can all come under one umbrella. They are not necessarily under the same roof but inside the same property complex.

These surely are trending all across the globe. But why? This happens because the present generation of residents wants most of their everyday amenities to be closer to home. From kids' schools to their offices and shopping malls, they would rather have everything inside their housing complex than spend extra time traveling to individual locations for every one of them.

Montgomery Planning conducted research and found out that between 2010 to 2020, more than 50% of properties developed in Montgomery, Alabama alone were all mixed-use properties. The other projects in the pipeline, including commercial and multi-family buildings, also had an apparent inclination toward mixed-usage than single-use residencies. This study also believes that the national trends are similar to that of the Montgomery area findings.

If you are a real estate developer, manager, or owner, you need to pay close attention to the rising trends of mixed-use properties because they are the new big thing in the market. It is trending, and it is here to change the way people view real estate. Read this article to find out all about this trend and how you can use it to benefit your real estate business.

What is driving the mixed-use property trend?

Mixed-use properties are mostly rising due to the new lifestyle choices of the present economically-active generation. This primarily includes the millennials and Gen-Z, who have demanding jobs and not enough time to spare for other activities. So they demand to have these activities right at their doorstep to get the best of both worlds.

According to a National Association of Realtors (NAR) survey on community and transportation preferences, they found that more than 62% of millennials prefer to have all amenities within walkable distances. Beyond that, there are 5 more factors driving this trend. Take a look.

Urban development

Mixed-use properties are one of the major developments in nearly all metropolitan urban habitats like Ohio, Boston, Texas, and more. The high migration of millennials and baby boomers into these cities due to employment and other opportunities are increasing by the day. Even neighboring suburban areas are getting urbanized, and properties offering amenities beyond simple residences are becoming increasingly attractive.

Change in lifestyle

Big brands and chain retail stores are no longer the only places of attraction for millennials. They are increasingly indulging in one-off boutique and localized stores. Providing these services under mixed-use properties is helping this generation sustain this lifestyle change.

Concept of co-working spaces

With the abundance of technology selection available for the new generation, their office attendance decreases. Extended remote work is also playing a part in this trend. But not everybody prefers to work from home constantly; some prefer to work from casual workspaces like co-working spaces. Residencies that offer additional facilities of leisure combined with workspaces are becoming a rage.

More sustainable

More and more CRE business owners and investors are going for more sustainable real estate options for a more eco-friendly business approach. According to Forbes news reports, the real estate produces more than 40% of the total global carbon emissions. Having more facilities under one complex helps bring down the overall carbon footprint of managing properties when people cut down on their everyday travel due to most resources being available at walkable distances.

Demand for homes closer to work

Research says due to the advance in remote work, employees are saving thousands of dollars on the commute, and now they desire to live close to work or even live in the same complex as their offices. This allows them to save up on a lot of money and reassign that to rent or other basic amenities, increasing the demand for mixed-use properties.

Benefits of mixed-use properties for CRE biz

As a real estate property manager or business owner, investing in mixed-use properties has many benefits. Check them out.

Broader appeal

Your properties can now appeal to a larger audience and collect more on rent from families to single working people and even migratory working class. This has a higher chance of selling if your property can cater to a larger audience.

Integrated management

There are multiple different types of facilities and amenities to manage in a mixed-use property. You need proper property management software to get the job done. Integrating software like Yardi or MRI can help solve this. They can manage residential, commercial, and retail properties at the same time and streamline your tenant and property management work. You will not need to run to and fro to different properties to get the job done; you can do all of it from your user dashboard, even from remote locations.

Diversified business

A mixed-property has a diversified business portfolio, so it can help you sustain during tough economic crises. You can collect revenues from multiple avenues without solely depending on one source. Even if your retail does not work, your residents are still there or vice versa.

Cons of mixed-use properties for CRE biz

There are some slight disadvantages of a mixed-use property. But they can be easily mitigated if addressed at the right time, and your leadership and strategy are planned accordingly.

Can cause parking issues

Due to multiple facilities being under one community, the number of cars will increase; with poor management, this can become a real issue. Retail shops and family parking should be managed separately to avoid any hindrance.

Residential tenants might be agitated

Mixed-used properties can create major conflicts between commercial and residential tenants without efficient property management due to differences in interests. You need a proper technology selection and high-functioning property management software to work around this crisis.

Need a Property Management Software that's Right for Your Needs?

Are you planning to invest in mixed-use properties? Need to plan strategy and leadership for this new venture? Our team can help.

Or are you wondering which property management software will work best in letting you streamline the management of such mixed-use properties? Our technology selection and implementation advisory team can provide you with the best solutions for such business needs.

Talk to us today to know more about our work.

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How our CRE strategies can help your real estate business

Sun, 05 Jun 2022 18:27:16 -0500

Digital adoption might be a trendy thing for businesses these days, given the big jump in the use of technology post-pandemic and remote working trends. But having a well-planned strategy for digital adoption is the only way to make technology selection a worthwhile investment. The whole process is quite redundant if you do not customize your strategies according to your specific business needs and goals.

At Assetsoft, our team of real estate market experts and tech team have your business goals in mind while developing your digital adoption strategy. We provide a comprehensive and holistic software integration and technology implementation plan, including installation, training, support, offshore operations, and more. Read this blog to learn why a customized digital adoption strategy is important for your real estate business and how the Assetsoft team can help you in the whole journey.

Why digital adoption strategy is essential for you

The specific benefits of your digital adoption strategy depend on your selection of technology in project management, but there are some common and significant benefits that you must know about. According to Gartner research reports, the global SaaS market is set to reach $397.5 billion by the end of 2022 and more companies and various industries are increasing their investments in digitizing their process to boost this increase in market shares. Market research on SaaS industry trends also says that 73% of companies are planning to shift all their systems to SaaS, and 44% of them are also increasing their budget for their SaaS integration plans.

Increased internal efficiency

When you adopt the right technology implementation plan, it can automate and digitize a lot of your time-consuming and strenuous office work. Keeping a log of sales, keeping contact details of tenants and vendors, verifying the authenticity of transactions, and coordinating between office teams and on-ground teams or construction teams. Coordination between agents, property managers, realtors, landlords, and homeowners or tenants can be done remotely, from your mobiles or laptops.

The digital process will free up crucial time for all the stakeholders and increase the general efficiency of your team when they are freed from tedious and boring office work. Why? Simply because your workers may not say it, but Automation Anywhere survey and Business Insider reports say data entry and back office job is the most hated work according to popular opinion.

More value for customers' time

When you have the right digital adoption strategy planned out, you can speed up your work. When that happens, you do not have to keep customers and potential customers waiting in line; you can also use RPA chatbots to mimic human responses and get back to your customers immediately, even when your actual human support staff is busy. This will increase the credibility of your business and gain trust in your brand name.

Reducing overhead costs

The digital adoption strategy, when it is well thought out and pre-planned, can cut down your business operating costs significantly. Your data will all be securely backed up on the cloud, and you will not have to keep bulky paperwork stored in the offices; you can also save much money by employing more staff to sort out the data and file them appropriately.

That is why EY market research on digital adoption plans in the real estate industry found out that more than 69% of real estate owners think technology adoption is crucial and on top of their priority list. 64% of them also insisted on the massive reduction in business running costs they saw after digital adoption and how it positively impacted their financial health.

How Assetsoft can help in your digital adoption strategy

There are many software integrations and digital adoption strategies that companies can plan. But the main point is, are you using the latest technology to its total capacity and getting the maximum return on your investment? Is it optimizing your resources? Here’s how Assetsoft can help in doing that. Check it out.

Get ahead of the competition

The best software has become standard for most brands, and implementing the latest tech in real estate is the norm. So, only the right digital adoption technology can set you apart from your competition. Our team can help you get customized features that are specifically tailored to your business and get real value for your money.

Staff training and onboarding

Shifting from manual processes to digital adoption can be a sudden and intimidating journey for some businesses. New technology selection can be daunting to use at first; that is why our team provides staff training and onboarding. We will help you adapt to the new process every step of the way; our tech team will ease the process for your staff and smoothen the journey.

Back office support and troubleshooting

Even after the integration process is taken care of, a digital adoption journey still has a long way to go. Any new technology selection comes with its problems; we will provide back office support anytime and anywhere. We will have a dedicated offshore help desk for your business and your software adoption. Any glitches or technical difficulties will be looked into immediately, and we will do all the troubleshooting on your behalf.

Business process optimization

When you make a proper digital adoption strategy, you make a larger plan for your real estate business; you make a centralized data system and business process for the whole company. You might already have an existing ERP system to handle your properties, but automating back office tasks and other work with the help of such software will help you optimize your resources along with digitalization. Our team can help your strategy and leadership body to rethink their plans accordingly.

End-to-end digital adoption strategy with Assetsoft

Most real estate companies hesitate to get into a digital adoption strategy because traditional business methods have worked wonders for their business for decades. But they are bound to realize that the new age business and the rise in millennial homebuyers demand a shift in your office working systems. That is why Assetsoft has a hands-on approach to integrating new digital solutions for businesses.

We adopt and customize our plans based on your needs and work out strategies in a way that even if you use the same software as your competition, you will still have the edge over them.

Get in touch with our team to know more about our work. Talk soon!

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Impact of COVID-19 on CRE, the present and the way forward

Mon, 14 Mar 2022 07:00:00 -0500

The pandemic has changed how industries work, including for Commercial Real Estate (CRE). As world leaders restricted human movement and business hours, and more people opted to work from home, commercial real estate dynamics have changed.

The CRE sector was always quick to get back on its feet from these sudden global events. However, after the dip in business in the 2008 market crash, this pandemic has been the biggest setback to date.

The CRE Industry and the Pandemic: Top Developments

The pandemic had different effects on all sections of CRE, but some more than others. Here’s how.

The sectors that suffered

Sectors like Hotels, Retail spaces and office spaces lacked demand due to lack of economic activities and social distancing practices. Deloitte data says that CRE business in the US alone declined by 27% in the first few months of the pandemic itself. In 2021, more than 78% SMEs mentioned that they are struggling to make rent and are running behind on payments. This is not only bad for their business but also makes life harder for all property managers.

The sector that thrived

One sector of CRE that did not suffer but actually thrived during the pandemic is the warehouse and storage business. When people couldn’t physically go out to shop, e-commerce sails soared by 15.7% in mid 2020. By 2022, the of e-commerce is now booming. It is now thriving so much that companies are investing in extra warehouses to help keep up with the demands.

This has positively impacted CRE business owners who dealt in this sector. Amazon alone increased it number of warehouses from 4 to 21 within the last two years. In reality prices for warehouses were way higher than office spaces and other such commercial buildings like hotels. Real estate property managers and owners saw a major opportunity in this and even earned hefty commissions to bridge the gap between lack of supply and increased demands.

The Way Forward for Commercial Real Estate

Many adverse events started playing out since the onset of the pandemic. From restrictions in movements to complete lockdowns, businesses have seen and lived through all kinds of adversities. This is exactly why real estate business owners need to rethink their strategy and leadership plans to recover and come out stronger from these unforeseen situations.

PropTech

Managers, owners and real estate agents are now using property management software to ease their way into the post-pandemic world. Though property management software were already on the rise, the pandemic give it an even bigger push.

The world is now online and real estate is also looking for tech based solutions to their management plans. Canadian real estate developers believe that PropTech is the future for growth in the real estate market post-pandemic. From AI-based virtual chatbot responders to customer queries to virtual home tours with latest software usage, PropTech can help with all.

But the technology selection in project management can be an overwhelming change. Nevertheless you need to embrace this change to beat the pandemic blues. You can get outsourced help from the Assetsoft consultants to guide you on this journey to select the right technology for your property management needs.

Hybrid real estate

Most real estate owners are now trying to find ways to bring in new avenues of change in their commercial real estate spaces. From hotels offering workation options to cafes and restaurants offering whole day work packages, we have seen it all over the last two years. This quick response to the changing state of the pandemic is what has helped businesses thrive.

If you are a property manager and owner you need to rethink your business plan and adapt. With the advancement of remote work you need to find ways to offer leisure and reliable workspaces at the same location for people to get in business with you. Research believes that commercial office spaces will eventually downsize due to lowering demand and come up with more open spaces to help people relax at work.

Make proper recovery & relief plans

Make and have set plans in place for the future. Where you have some safety net to fall back on in case of further unprecedented situations like the pandemic. Yes, we are all getting back to normal, many states have even lifted compulsion on masks, but no one knows what lies ahead. Just like this pandemic hit us from the blue. This is exactly why going forward your CRE business needs to have contingency plans in place to stay afloat during a crisis.

Assetsoft Can Help You Move Forward Post-Pandemic

Though we are all adjusting to the new normal, but it will take a huge time for everything to be completely “normal”. This is exactly why you need to be a resilient leader and accept the positive changes that the pandemic has brought in. From advanced use of PropTech to better recovery plans, the adverse pandemic situations has taught real estate biz to adapt and learn new things.

The Assetsoft team specialises in these rising tech trends in real estate. We provide you with the best selection of technology in project management. From systems integration, business process improvement to implementation of the latest software, we will be there every step of the way. Our team of experts works with ERP systems like Yardi systems, MRI software and many more to automate and digitize your property management plans.

We help you select the technology that is best suited for your growth amidst all the impending problems of the pandemic. No more falling behind on your growth plans due to lack of the latest tech in the market. The Assetsoft team is here for you. Book a free consultation with our team of consultants to know more about our systems and services.

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The Top Black Real Estate Pros and How They Are Making a Change

Thu, 03 Mar 2022 22:39:42 -0500

The CRE(Commercial Real Estate) industry being white-dominated is not a new problem. So, what is it like being a black person in this non-diverse industry? From constantly proving their worth through overwork to never feeling included as equals, they live a very stressful life in CRE.

In CRE even in high positions, with decades of experience in Strategy and Leadership, black people find themselves to be the only people of colour in the room. Every single day they have to work extra hard to prove that they are up for the job even when they have a great record in business process overview.

Common Hardships For Black Persons in CRE

No peers from the community

National Association of Real Estate Brokers (NAREB) says that as little as 6% of Real estate brokers are black in the USA. 74.6% of the real estate brokerage sector is dominated by white people alone. Statistics say black people form 11% of the US population, but black agents still get little seats at the table. This, in turn, affects black homeownership as well making this a much more deep-seated problem than we can imagine.

Hardly any opportunity to be equals

Even someone as big as Guesst founder and CEO, Jay Norris says that he has given up on trying to feel like an equal to a black realtor. He has realised that no matter how impactful his work is over the past 12 years in the real estate sector, he will never be treated the way his white colleagues are.

Constantly breathing down their necks

Being a minority in any space is hard and above that, if you are black then the picture is really grim. Pebbles Corp. founder Don Pebbles feels that he is always under the radar. Though he has a $700M real estate business and 35 years of experience to back him, he hardly has any space to commit human errors.

Inspiration - Black people who made it big in enterprise real estate

Here are some tales to note their tough yet inspirational journey. Let us get an inside picture of what it is like being a black human in a white-dominated CRE industry.

Real Estate investor, Lisa Phillips

She is a force to reckon with when it comes to CRE. She has her own business process overview where she invests in surrounding communities every time she buys a property. She even founded Affordable Real Estate Investments to train and support more visionaries like her.

When she started out Lisa lost thousands of dollars in mortgage and saw the opportunity in investing in black neighbourhoods. She realised she needs to empower first-time real estate investors like her to break free from the white-dominated business. She has worked her way up the ranks and is now a reliable investment implementation consultant in CRE.

Real Estate tycoon, Anderson Hunt Brown

Anderson is probably one of the pioneers when it comes to black real estate investors. He started his work for the black community in light of the anger he had due to the poor living conditions in his own neighbourhood. He worked tirelessly to help his community thrive. He not only built residential property but got into commercial real estate to promote black people finding safe office space. Through his multiple decades in the real estate business, he had more than 100 properties under his wings.

Anderson was a man whose parents were freed from slavery, he was someone who understood the flight of a black person in white inclined USA. His life was a living breathing example of it. He learnt the lessons that life threw at him and worked to make his real estate business a safe space for people of colour.

He did everything in his power to fight for their rights. He even participated in on-ground activism to speak up about affordable housing for low-income black people and black students. Over 50 years that he was in the business he made his community thrive on his properties.

How does the Future Look Like?

Real estate businesses and managers are the faces of the industry. So the more black representation there the more comfortable black people will be in feeling valued as equals.

NAREB has been looking to address the disparity in the representation of black people in real estate. For one, they've launched a Black Person Real Estate program to motivate aspiring candidates with financial and moral support. NAREB has even initiated a benefit based reward of $5,000 for the selected candidates to encourage more participants to join.

Fast forward growth in the present times

Property management and real estate deals are becoming increasingly tech-based. The real estate business is unfair as is for people of colour, now do not let technology hold you back even further. If you want to start this tech journey for your business comfortably then you can easily enlist your company with financial software and consulting services.

Assetsoft’s MRI support and services will make your journey into the tech world seamless. Our Yardi service will completely integrate your business. Our planned process will make your work faster and help you scale new heights like any of your white competitors. If you have the knack for it, then we have the correct project management processes for your growth.

Are You Choosing the Right Real Estate Property Management Software?

There is no denying the fact that there are innumerable obstacles and roadblocks that a black person faces to make it in the world of real estate. There are some positive steps being taken by authorities like NAREB to make the CRE a more inclusive space for people of colour.

Get on top of your game to beat the odds. Assetsoft can help you choose wisely when it comes to choosing the right real estate project management software.

Get inspired by the resilient black people who made it to the top even with endless roadblocks. Manage your properties better with technology. Hire the Assetsoft team and get access to the best project management consultants.

Our IT outsourcing services will help you reap the benefits of popular real estate property management solutions, from Yardi support solutions to MRI software services. To start your journey with us, get in touch with us today!

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