In recent years, the rise of digitisation and new technology trends has greatly impacted various industries. The commercial real estate sector in New Zealand and around the world is no exception. As professionals in this field, it is essential to embrace and incorporate innovative tech solutions to drive our business forward.
To help navigate the world of commercial real estate, here is a concise summary of key tech related terminology that every commercial sector buyer or seller should be familiar with.
Proptech
Property technology, or ‘proptech’ is a general term for a range of commercial real estate solutions, services, platforms, and technologies. Those solutions extend from platforms that help landlords manage lease agreements, to software that brokers can use to streamline deal making or give potential clients a virtual tour of a property. Over the years, the range of offerings that could be broadly considered ‘proptech’ has also evolved, making it increasingly a catch-all term. That evolution has led some in the space to argue that the word ‘proptech’ will eventually be replaced by terminology focusing on specific offerings.
Climate tech
Depending on your definition, climate tech is another term that could fall under the proptech umbrella. Climate tech solutions include enhancements like energy-smart control systems. These systems allow operators to monitor and automate some of the processes in their buildings – lighting, heat, and airflow, for example. In broader terms, however, climate tech encompasses the full range of technologies aimed to reduce greenhouse gas emissions and address climate concerns. That includes everything from advanced manufacturing methods that reduce carbon in cement to smart windows.
EV Tech
A third term most commercial real estate professionals have probably heard at some point in recent years is EV (electric vehicle) technology. EV tech encompasses all the infrastructure and support systems needed for electric vehicles – including the growing demand for EV charging stations in commercial property. EV Technology is another area where we see some degree of overlap with both proptech and climate tech. Having EV facilities on-site can, for example, boost the sustainability profile of a property and make it more attractive to prospective tenants.
Keeping up with tech
As with all tech trends, advancements in how we work with property data and make properties more sustainable, is a constantly developing area. For commercial real estate professionals, keeping up with those developments is a key part of ensuring we’re really adding value for clients, and finding the best tools to match their needs and at NAI Harcourts, we strive to make our technology and people work, for you.
Visit naiharcourts.co.nz for the latest commercial news, listings and to find your nearest team of NAI Harcourts commercial experts, ready to help you today.
Source: Naiglobal.com