Over the last two decades, businesses around the world have faced a whirlwind of technological advancements. Gone are the days of cramming over-stuffed manila folders into clunky, metal filing cabinets. Newer, more efficient technologies have significantly impacted the business world and Healthcare CRE has benefited from the changes. The medical real estate sector has especially seen the advantages that technology can offer.
Within the last year, we’ve all had to adjust to new technologies, and when it comes to the medical field, telehealth is the first type of tech that comes to mind. But while telehealth has certainly affected the CRE side of the medical industry, the expanse of healthcare-related technology isn’t limited to patient care alone. Medical real estate landlords and tenants can benefit from new tech as well, especially if they have a reputable medical real estate team that offers significant tech resources.
Technology within Healthcare CRE
In a world that is becoming more reliant on technology, CRE professionals cannot afford to fall behind on modern innovations that can increase productivity and decrease costs. In today’s industry, tools like demographics software that can narrow down radius rings or custom polygon trade areas are too beneficial to miss out on. And customer relationship management (CRM) tools that house networking data can facilitate significant business relationships within the industry.
Technology even stretches to financial modeling software, helping brokers analyze comps for a specific area. With this tech, CRE advisors can then negotiate rates for a specific facility. A good CRE advisor knows this tech provides a vital resource. Typically, that advisor will pair that data with their intricate knowledge of the market to make the best suggestions to their clients.
Using Technology to Market a Healthcare CRE Facility
On the leasing or selling side of medical real estate, technology multiplies marketing efforts. As a simple example, websites like LoopNet and CoStar provide an extensive database of current listings. Posting a property on these sites can increase the number of brokers or potential tenants who can see that it is available.
Within these broader marketing efforts, other technologies instill an impressive “wow-factor” that sets a facility above its competition. QR codes have seemed to make a comeback in a range of industries, and our team has taken the opportunity to infuse them into our marketing plans. Our use of this tech includes on-site QR codes that lead any interested passerby directly to a webpage that provides property features and a virtual walkthrough. The potential tenant or interested broker doesn’t have to wait for someone to meet them on site. Instead, they have a virtual view of the suite right on their smartphone.
Using a Matterport Camera
Not all medical real estate brokers use technology that provides a virtual walkthrough, but this kind of technology is a game-changer. The Matterport camera is a high-resolution camera built to quickly and accurately scan any size space to deliver 3D renderings. Once images are captured, the Matterport generates schematic floor plans, photographs, and 3D files.
The Matterport elevates virtual tours to an entirely new level. Potential buyers or tenants have the opportunity to engage in a preliminary viewing of a space before traveling for an in-person showing. Prospects can also easily share a link with key decision-makers who are unable to attend a tour. And data captured from the Matterport can be used to provide measurements, which means tenants can easily view the virtual tour or revisit a particular detail about the property. This saves them the time it takes to physically return to the facility.
HBRE and Healthcare Real Estate Technology
Technology has become such an important part of CRE. HBRE uses the technology resources mentioned in this article, as well as targeted direct marketing and a few admin tech tools. We are continuously adding to our tech resources to maximize the value we provide to our clients. Medical real estate professionals who are looking for healthcare CRE advisors that offer substantial tech resources can trust our team to handle their real estate needs.
If you are interested in learning more about investing in commercial real estate, or if you have questions about buying, selling, or leasing a commercial property, please contact an HBRE advisor. Our team of experienced CRE professionals have the skills and insight to assist with all property transactions. To reach out to us directly, email [email protected] or call 615-564-4133.
