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What Does Commercial Real Estate Analytics Software Track?
Today’s commercial real estate analytics software provides users much greater functionality and overall project benefits than force-fit and legacy programs. Developers can use them to mitigate risks, significantly reduce cost overruns, and improve project outcomes. Modern platforms can offer those benefits because they track all project data in real time. The cloud-based programs also provide insights about…
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Rising Inflation Could Cost the Commercial Real Estate Sector $733B in 2022
The U.S. Bureau for Labor Statistics recently reported that the consumer price index rose by 0.1% last month and 8.3% year-over-year. Market analysts expressed surprise that the U.S. Federal Reserve increasing interest rates by 2% this year didn’t curtail America’s rising inflation rate. The unexpected outcome also strengthened some experts’ conviction that a recession is…
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What Are Construction Hard Costs?
In commercial real estate development, your expenses will fall into two categories; construction soft costs and construction hard costs. Soft costs are related to predevelopment, like purchasing land, hiring architects, and paying inspection fees. By contrast, hard construction costs are directly related to the physical construction of a building.
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The State of Predictive Analytics in Commercial Real Estate
Predictive analytics has only played an active role in commercial real estate in the last decade, but its impact has been massive. Traditionally, developers have made key project decisions with retroactive insights and intuition. With no other options, firms have had to work around the problems inherent in depending on an outdated and inexact methodology.
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The #1 Thing the Best Commercial Real Estate Software Has in Common
Commercial real estate development software can have a powerful positive impact on a firm’s operations. By integrating a modern platform into their workflows, companies can expedite their cost reporting workflows, cut spending, and gain real-time project visibility. Modern software solutions enable development teams to become considerably more productive.
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How Real Estate Development Software Helps You Cut Costs
Succeeding in the real estate development market isn’t easy because it requires significant investments of time and money. Bringing a complex project to completion takes years of hard work involving managing hundreds of vendors and meeting the expectations of demanding stakeholders who expect a good return on their multimillion investments.
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How to Make Your Real Estate Development Firm Indispensable
Real estate development is a capital-intensive, high-risk business that’s extremely competitive, which makes launching a new company within the space daunting. Establishing a reputation with owners and investors isn’t easy.
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How the Inflation Reduction Act Impacts Real Estate Developers
In mid-August, Pres. Joe Biden signed the Inflation Reduction Act (IRA) of 2022 into law, which aims to significantly reduce the United States’ carbon footprint, cut prescription drug prices, and curb inflation. The $430 billion legislation includes provisions designed to bolster green building projects and energy-efficient renovations via major tax incentives.
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These are the Best Markets for Office Building Development
Over the last two years, U.S. companies have had their teams work remotely during the coronavirus pandemic. But with the Centers for Disease Control and Prevention recently recommending an end to quarantine and social distance mandates, firms have been eager to bring their employees back to the office. However, many staffers based in major cities…