Corporate real estate should also invest in technology.

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Dive Brief:

• Nearly half of corporate real estate decision makers plan to accelerate technology investments to streamline their workplaces, according to a new report. by JLL Researchan international real estate services company.
• The real estate industry, similar to other industries, faces labor shortages and pressure for greater workplace flexibility. Investments in technology are expected to support employees, hybrid workflows and sustainability efforts.
• According to the report, which surveyed nearly 1,100 real estate decision makers, more than half of respondents plan to use immersive technologies, virtual reality, smart contracts and industrial robots by 2025.

Dive Insight:

Despite the need to sell bricks and mortar, corporate real estate is looking to technology to get the job done better and more efficiently, especially as workers push for hybrid work environments.

“When I started my role there was a recognition of the importance of technology,” said Sandeep Dave, chief digital and technology officer at CBRE. But since then, there has been an incredible pace of technology adoption in all aspects of how real estate is done.

From the way a place is known to a visual and immersive tour, the real estate industry has changed for good.

Davie’s technology teams have automated more than 100 processes, created the desk scheduling CBRE Host platform and worked to increase data visibility.

Business workers have also benefited from augmented reality technology. To combat the talent crisis, general technicians could go into space wearing augmented reality headsets and have more senior staff helping them, Dave said.

In general, due to the transition to hybrid work, real estate companies have to offer more than four walls to entice buyers.

Davey and his technology teams have created whiteboard-like touchscreens to allow users to collaborate in person and remotely, a major push to improve collaboration technologies in the space.