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September 2015

COMMERCIAL REAL ESTATE TECH: THE QUEST FOR PRODUCTIVE MOBILITY

THE LOOPColdwell Banker Commercial Atlantic Newsletter

• Brent Case, CCIM and David Mantek of Coldwell Banker Commercial Atlantic represented the Tenant, Power Fit, in the Lease of a 2,400-square-foot retail suite at 3365 S. Morgans Point in Mt Pleasant.

• Marlena Franklin, CCIM of Coldwell Banker Commercial Atlantic, represented the Tenant, AllCare Living Services, in the Lease of 2,331-square-feet of office space at 107 W 6th

Street in Summerville.

Recent Transactions:

Employee Spotlight:Name: James Dingle

Title: Commercial Broker

Specialty: Land & Investment

Experience: 2.5

Market Watch:

Office/Warehouse1539-A Meeting Street

Lease Rate: $14/SFMLS: 1501614

Tradd Varner 843-725-6897

Land133 Edistodane LaneSale Price: $284,000

MLS: 1501606Mike Rose, CCIM 843-725-6391

Community:In August our office donated clean/staple-free scrap paper to the Charleston Animal Society where they use it to cushion some of their crates and holding areas.

More than ever before, the success or failure of commercial real estate companies can hinge on the electronic edge that those firms provide to their teams. Real estate professionals who know the products and practices commonly used by their peers will be better equipped to fine-tune their own technological strategy, and as best practices emerge, commercial real estate companies have the potential to set new standards in technology integration.National Real Estate Investor and Coldwell Banker Commercial, a division of Coldwell Banker Real Estate LLC, began following the industry’s technology use in 2012, and recently surveyed commercial real estate professionals to learn how they are using tech tools today. That research

president and chief operating officer of Coldwell Banker Commercial Affiliates.“It’s the first time that we’ve had four generations working side-by-side, so your style of communication has to vary widely,” he says. “The way I’m going to communicate with a Millennial is going to be a little different than with a Baby Boomer, for example. I’m going to text certain people, email others, talk on the phone or reach out through any of the technologies that clients expect us to use.“That’s why social media and all these different tools are important, and why we have to use all of them,” Schmidt continues. “As an industry we have to be cognizant of that and adapt. We don’t have a choice.”AN INDUSTRY PLAYS CATCH-UPSome 53 percent of respondents rate the commercial real estate industry to be significantly or somewhat behind other industries in adopting new technology, while only 9 percent consider commercial real estate to be a tech leader.“Respondents don’t think their industry is made up of cutting-edge users of technology,” says Penton researcher Elinor Delagrange, “but what makes this survey interesting is that for the most part they rate themselves as significantly ahead or somewhat ahead of their peers.” Some 77 percent of respondents rate themselves to be as-well- or better-informed about new technology than their peers.

Favorite News Publication: Commercial Property Executive

“Outside of work, you’re most likly to find me...”:“Promoting Charleston on a new startup: citygabinc.com”

Let’s Connect:jdingle@cbcatlantic.comLinkedIn

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unearths some surprises, including a widely shared affection for mobile tablets. Survey responses also reveal an opportunity for software providers to better serve the sector through greater compatibility between products.Trends like these matter, because technology poses both a threat and an opportunity to commercial real estate companies. Most real estate professionals believe their sector lags its client base in adopting the innovations available to improve service delivery. Yet new technology is increasingly essential in everyday business, observes Fred Schmidt,