A recent analysis by RE:Tech Insight(retech.net) of 200 Manhattan based brokers shows that women are taking advantage of new digital technology available to them, and are bridging the gender gap in the commercial real estate business. The Insight research shows the extent to which women have embraced digital technology has helped them to have a competitive edge and to level the playing field with their male colleagues in the workplace. Emerging technologies such as apps, wearables, and innovative software have created opportunities for the millennial generation of women to mature and move into the ranks of leadership in the workplace.
Women in commercial real estate were five times more likely to use or experiment with new technology than men. “Apps and mobile technology are creating opportunities and allowing leading female brokers to be more agile and gain new business,” according to a female New York City commercial real estate broker. Women are 10 times more active on social media than men according to the Insight research, which enables more marketing and outreach opportunities.
Across the commercial real estate industry, body worn devices are becoming more common and are replacing the traditional clipboard and pen. This has made for more efficient and accurate accounting of products in distribution centers and for streamlining logistics in many industries. Deloitte’s Tech Trends 2016 report says that wearable technologies may have a big impact on commercial real estate development. Virtual reality solutions have “potential to recast long-standing business processes and tasks while opening a door to fundamentally new experiences,” by making it possible to depict actual places, such as an unbuilt skyscraper or future distribution center.
Architects can visualize plans and 3D models at a proposed building site, by using such innovative tools as Google’s Android smart glasses. Maintenance staff can see visual alerts from building sensors, and may be able to consult with a remote expert for a repair task at hand, according to the Deloitte report.
Wearable devices have raised privacy concerns since they can collect personal information, track movements of employees, take photos and connect information to the internet.
Source: “Technologies Impact on Real Estate Sales and Brokerage,” ReTech Insight (www.retech.net)
Source: “Tech Trends 2016, Innovating in the Digital Era” Deloitte (www2.deloitte.com)
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