It’s an exciting time to be in the real estate industry. Before 2020, there had already been major steps forward in the advancement of technological solutions, but there was still quite a big disconnect between the interest and adoption of those solutions in the day-to-day operations of many real estate companies. It was a ‘nice to have’ rather than a ‘must have’.
Then, COVID-19 hit.
Almost overnight, companies were forced to push the limits of their current technologies to deal with a newly remote workforce, highlighting the need for digital workplace solutions that will ensure business continuity.
One year on, the benefits of workplace technology is clear. It allowed companies of all sizes to reduce virus transmission and enhanced employee confidence for re-entering the office, reduced disruption to business operations and improved the employee experience.
Companies who resisted found themselves falling behind and struggling to keep up.
In addition, interest in proptech and smart real estate extended beyond the ongoing health crisis. A recent survey by CBRE discovered that even before the COVID-19 pandemic, 63 per cent of respondents planned to deploy technology to improve user experience in the workplace, while 21 per cent confirmed that they would be willing to pay a premium for rent in a tech-enabled building.
As we look to the future, we expect to see more investments in technology that focus on driving efficiencies across operations, increasing growth and connectivity, and promoting the health and well-being of employees.
For example:
These are but a few types of technologies that present tremendous opportunities for companies in the real estate market.
And as smart spaces become increasingly prominent, property owners will be further able to collect data to make informed decisions about what technologies to invest in.
But despite the high interest in smart offices, it’s not enough to purchase the latest digital solutions willy-nilly.
To reap the full benefits of technology adoption, real estate companies need to start by developing a carefully articulated strategy that outlines how each application will fit into their goals for the year, whether it's increasing tenant retention, improving rental yields or developing their brand as an innovator in the industry.
If the pandemic has shown us anything, it’s that companies shouldn’t fear change, but rather harness the growing power of technology to elevate their spaces to the next level. So, let’s do it!
Check out Qubic, a dedicated work pod equipped with the latest access control technology and web app supporting real-time booking, pod management, and usage analytics. For more information on implementing the latest technology solutions in your workspace, our team of experts are here to chat!
