Understanding Real Estate

Scoring great deals in the local commercial real estate market is the backbone of the many successful investment strategies. But competition for the best properties can be stiff, especially in less populated areas of the nation. Investors who feel that their market is becoming depleted, as well as those who are ready to expand their interests into another area, often want to explore the opportunities to buy commercial investment properties in other cities and states.

Commercial real estate investors who are feeling the urge to invest in other areas can use these technology tips to more easily meet their goals from the comfort of their current homes or offices.

Set up auto search notifications 

Overcoming the disadvantage of shopping for suitable commercial real estate listings from afar will require investors to find a way to be exposed to and more easily learn about distant markets. Auto search notifications that feed directly from multiple listing systems to your email inbox each day is a great way for investors to get current information about newly available listings, as well as those that go under-contract, close or expire unsold. 

Use available drone footage 

Drone videography has become a popular addition to traditional marketing tools used for all types of real estate. In commercial real estate, long-distance investors can use available drone footage as an effective substitute for in-person viewings.

In addition to saving money on travel and making it possible to view listings quickly without having to schedule a showing, viewing video drone footage online allows the investor to stop, pause and rewind to study and learn more about specific features and details. If co-investors are involved, drone footage makes it easy to share information quickly so that faster decisions can be made on whether or not to submit a purchase offer, request more information or continue the search.

Choose an agent with tech skills

The criteria for selecting the right real estate agent should always include dedication to providing knowledgeable assistance to clients and excellent communication, but long-distance investors need even more. When viewing properties and making purchase offers from afar, investors will need an agent who is comfortable utilizing calls, texts and emails to stay in constant contact, as well as using online transaction management services, web conferencing and other technology options to make the shopping process as efficient and convenient as possible. 

Commercial real estate investors who want to explore more ways in which technology can help them overcome distance issues to purchase suitable properties should take the time to discuss their situation and goals with a reputable commercial real estate agent or broker in each area where they plan to invest. Speak with a professional about any commercial real estate for sale in that area.