Microsoft just released a new VR platform called “Microsoft Mesh” which has the potential to be yet another digital disruption in commercial real estate. The goal will be to eliminate zoom fatigue for at-home workers making working from home easier and more common.
They released it at their Ignite conference and only time will tell how much this new technology will change how people work.
Since Covid-19, there have been numerous changes to how our society does business and make purchases. People are working from home and buying more online instead of from brick-and-mortar stores. These trends are wreaking havoc on the CRE industry.
Various experts have released doomsday stats about growing vacancy rates and we’re currently seeing a wave of CRE bankruptcies. Is it time to throw in the towel because there’s a digital disruption in commercial real estate? Definitely not.
Here are two tips for CRE success in this abnormal time:
1) Fight Hard
As demand shrinks so do the number of winners in the CRE industry. This means everyone wanting to succeed has to work harder than ever.
The firms and individuals who take this seriously and do all they can to optimize will win. Those who try to “float” will lose.
This means looking at business details with a fine tooth comb. Optimize everything from finances to team productivity, marketing, and personnel.
Leave nothing behind because your competition probably isn’t.
The future is here and you can only fight it for so long. Don’t fall into unproductive frustration on how technology is making things more difficult. Instead, learn how to turn it into an asset.
There are many solutions digitization can bring to your CRE business, especially when it comes to marketing. Remember: you need to be optimizing everything.
At EXPANSE we provide affordable ways to offer virtual tours and online marketing documentation. This speeds up the touring process, and gives you access to more qualified clients, and helps you thrive even during huge digital disruption in commercial real estate.