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5 ways to attract more tenants & reduce costs through technology

In 2021, VCs invested 28% more in proptech – 32 billion dollars. Predictions are that investments in property technologies will grow in 2022 and beyond.  

And it’s kind of normal to see that, given that one of the main advantages digitalization brings is closely connected to costs and real estate players acknowledge this.

A CBRE webinar called Digital Maturity of the Real Estate Sector showed, among others, that real estate assets owners do perceive digitalization as a major factor for cost optimization.

When it comes to the showcasing and leasing chain, multiple activities can be optimised through technology, leading to smaller costs for the leasing and marketing departments. Here’s how a solution like Bright Spaces can help you reduce costs:

  1. Get more qualified leads

A future tenant tends to visit multiple spaces before choosing the one for their team and even twice the one they might eventually sign. This takes a lot of time and leasing departments often book their calendars with tours with unqualified leads.

By using virtual tours, clients learn almost everything they need to know about a building before going to visit it online. Through Bright Spaces, they can explore:

  • available spaces
  • technical specs and certifications
  • various fitout options
  • main points of interest (restaurants, public transportation) close to the building

Thus, when they do book a tour with a leasing specialist, they already are a qualified lead interested more in commercial discussions. This means a shorter sales cycle, deals are closed faster and cash flow is generated

Furthermore, we also offer the option of tours for off-plan buildings or spaces that only become available starting with a certain date. 

  1. Use the Fit-Out Creator

All platforms implemented for our clients allow future tenants to create their own fit-outs, to get a better understanding of how the space would accommodate their teams’ needs.

This means that by offering an automated alternative to the services otherwise provided by an architect, you will save time and money. It usually takes at least 1 week for a 2D test fit and 2-3 weeks for a single-angle rendering. 

What Bright Spaces lets you do is provide your clients with a 2D and 3D test fit much faster

  1. Reduce marketing costs

If until now we were used to presentation brochures and outdoor marketing as the standard advertising methods in real estate, things are about to change.

A virtual showcasing platform can replace non-interactive physical brochures and the associated costs with printing, updating and distribution. At the same time, less printed materials translate into a more sustainable approach to the environment, thus adding to your image as an ESG-oriented landlord.

A digital brochure – the 3D tour of your space, can be accessed by anyone, at any time, making your space available for touring 24/7, regardless of the location. 

The digital showcasing platform is a marketing tool in itself, but it can also be integrated into social media or press campaigns. Furthermore,  promoting the virtual tour correctly can bring you even more than 350 unique visitors to tour your space every month. This significantly increases the chances for at least one of them to sign a contract with you.

  1. Spend less time with manual tasks

Automating part of your leasing departments’ tasks will reduce the time they spend on repetitive, time-consuming tasks and allow them to focus more on closing deals.

For example, by automating the process through which they send information about the availability of your spaces to brokers, they will spend less time confirming those spaces by phone or answering requests for each space. 

  1. One solution to rule them all

Bright Spaces is a complete solution for your leasing and showcasing processes. You’ll benefit from everything you need to lease your spaces faster: 

  • state-of-the-art virtual tours and fit-outs
  • CRM
  • HoT Generator
  • Real-time data on availability
  • A reporting feature

It goes without saying that having everything you need in only one solution that works under a SaaS model, your costs and stress with individual tools will get substantially reduced. 

We’ve presented you with 5 ways through which we can help you reduce costs with your leasing, showcasing and marketing processes. Our clients have already started using the platforms we’ve implemented together and are now leasing their spaces faster, online. 

The present already is tech-first, with tenants requiring their landlords to have their spaces accessible through web platforms that work seamlessly. If you would like to meet and exceed your clients’ expectations while reducing costs, contact us today at catalin @ brightspaces. tech!