7 FAQs about digital showcasing and leasing for commercial real estate
The digitalization of the real estate industry happens fast, with many new technologies emerging even as we speak. And no area of the process is “safe” from getting a tech twist. From marketing to negotiation to leasing and management, proptech leaves its mark.
Since we’ve started our journey, deciding to showcase commercial real estate in a more modern, interactive way and help landlords to lease their spaces online, we’ve received many questions about the benefits and opportunities brought by such an approach.
Similar to multiple landlords we’ve been talking to, you might as well be wondering if a digital showcasing and leasing platform is the right fit for you. So we put together a short list of FAQs to give you a better understanding of our leasing software.
1. Why do I need a virtual tour?
First of all, even if you might have checked a few virtual tours options, you might still want to have a clear understanding of WHY there is such a hype around it.
There are several reasons. Virtual tours, from the very simple ones (360 pictures) to the more interactive 3D digital twins like ours, allow tenants to visit your property on their own schedule, as many times as needed. They can now learn almost everything they need to know online, in a digital environment built especially for you, with your own branding and aligned to your goals & objectives.
A complex virtual environment will give them all the information they need about the space, features, surroundings, and real-time availability.
This also means you’ll be able to market your property digitally, reducing the number of printed materials that have such a negative impact on the environment. It thus can help you get closer to your sustainability goals. Not to mention that online marketing is trackable, giving you unseen insights on your potential tenants.
A virtual tour is also safer. We now have vaccines and the world is slowly opening up, but restrictions are still in place. Limiting direct interactions only to the critical ones shows your responsibility towards the safety of your staff and customers.
2. How would my leasing team benefit from this?
Your leasing team’s most important assets are their time and knowledge. By making the property widely visible, a virtual tour actually helps your leasing department filter leads, spend fewer hours with live tours and attract those potential customers who are most likely to rent.
By using a virtual showcasing and leasing solution, a tenant can discover all the most common information about your property online. After checking and choosing the spaces that would fit them and their teams best, they can book a live tour to discover the more in-depth details. Here’s where your leasing specialist steps in, putting their experience and negotiation skills at work and turning a lead into a paying customer.
And this is not the only way your leasing department will become more efficient. Our solution also integrates an Admin Dashboard that centralizes all relevant data about the property and leasing requests. All your team can now have access to the same information regarding availability or negotiation history with a certain lead. This will increase their productivity and ensure a more unified communication between members of the leasing team.
3. Will I get more leads through a digital showcasing platform?
It actually depends on you and how you use the platform. In this blog post, for example, you can find our recommendations on how to promote the virtual tour in order to attract more leads.
Our solution and any other virtual tour act as a tool, an enhancer that can boost your productivity and improve your workflow. It can attract more leads if you use it for this purpose and it makes it easier for you to monitor your efforts.
Given that there are 4,66 billion Internet users worldwide, being present online surely increases your chances of getting noticed more than through traditional advertising. Being where your clients are is the first step towards signing more tenants.
4. Can I create different fitouts?
This is dictated by the type of virtual tour you are opting for. If you are going for more traditional showcasing options (pictures, non-interactive videos), you won’t be able to help your clients experience the authentic feeling they could have in your space.
Bright Spaces, for example, integrates a multiple fit-out option functionality that allows tenants to explore various space divisions. Thus, future clients can imagine how their teams would work and interact in that specific office.
A more advanced functionality includes a Drag&Drop system that will go beyond just choosing from a series of predefined fitouts and allow a customized design of the space.
5. I have more than one building. Can I get a report on all of them?
Yes! The goal with a solution like ours is to significantly reduce all information gaps and increase efficiency. This is why you will be able to receive all the data you need on all the buildings mapped and showcased through Bright Spaces.
6. Who manages the platform?
You and your leasing / marketing / asset management team. The good thing with many virtual tours and leasing softwares is that they require no tech skills. Once you are onboarded, you and your leasing or marketing team can manage everything and put it to work in your best interest.
7. Can I send invoices or HOT agreements from the platform?
Here’s one more reason more advanced digital leasing solutions pay off. Besides being more customizable and integrating all relevant data in the leasing process, a platform like ours allows you to eliminate human error and wasted time and use a digitized alternative to sending HOT agreements, commercial offers and soon, bills, just with a few clicks.
We hope we managed to answer your most common questions about the use of a virtual showcasing and leasing solution. One thing left to address that we’ve frequently come across is the concern that digital environments might negatively impact direct communication. As we’ve written above, the role of these proptech solutions is to give back time and to make the whole leasing process easier, faster, safer and more modern.
The role of the leasing department stays vital as they come with that human touch and fine details that are difficult to be captured through technology. Our platform is made for people, to improve their work and experience.