GIS of real estate
GIS allows you to create an integrated picture of the collected information, which allows you to work more efficiently and helps to understand, analyze and visualize every aspect of daily activities. A spatial information system helps to get much more information from the data collected in the company, supporting the work of the company.
Why do we do it
So, gis in real estate industry is used, among other things, to identify new investment areas. Simplifies project execution and action schedules by analyzing data from multiple sources to create a complete picture of your assets. It also allows you to effectively manage your portfolio and property maintenance. A big advantage of GIS is the ability to share information with colleagues and clients through ready-made apps and templates that run on smartphones, tablets, and computers. Users can use aerial and drone photos, on-site vision reports, traffic maps, and 3D visualizations.
Benefits
Improved financial results
A complete view of information from multiple sources allows you to identify new areas for investment and facilitates well-informed decisions about what, when, and where to invest.
Optimization of cooperation
Provide access to information to employees, colleagues, customers, and community members.
Support for marketing and advertising activities
GIS technology allows enriching marketing materials with compelling and attractive content that makes the offer stand out.
Better customer service
Inoxoft mentioned the use of GIS analysis to support customers in choosing the most advantageous locations for doing business.
How to develop a location strategy in real estate management
The Inoxoft team often hears from you to define the usefulness of GIS and location technologies for commercial companies operating in the real estate market. For us, beautiful maps and smart applications are less important, but it is much more important to develop a strategy that allows you to properly use location data resources. We are talking here about the importance of implementing a localization strategy.
What is a location strategy, and why does your company need it?
In the commercial real estate market, which includes office space, shops, industrial buildings, and special-purpose buildings, it is significant to understand the information that can be obtained from market data. Such data is already in your system, in your spreadsheets, documents, images, and in your head. All of this data has one thing in common: location.
All real estate information contains aspects of the location. How you manage your data to make sense of the information becomes your location strategy. Therefore, when you think about real estate in this way, you will easily notice that the organization’s location strategy makes sense and brings financial benefits.
1. Organize data storage
- Real estate organizations invest heavily in data, including hiring professionals who have proper knowledge of the organization of real estate institutions in the field.
- Managing data in an orderly manner, and inappropriate structures, is a functionality implemented with the help of GIS. Consider how different companies manage their customer relationship data (through CRM systems). If you want to use the value of location data effectively, then you need to approach its management similarly. If you do, you will ensure that your employees and customers have accurate and up-to-date information.
- Real estate companies need strategies and systems that will allow them to get the most out of their data investments.
2. Leapfrog the competition
- Just a few years ago, small and medium-sized real estate companies were limited in their ability to effectively use location platforms due to the high cost of technology solutions, data, and staff. Now, with the availability of simple mobile Software as a Service (SaaS) solutions, as well as the growing availability of open data resources, even the smallest companies can compete in the market using location technology.
- Regardless of the size of the company, investing in location technology like Inoxoft brings immediate returns and allows companies to compete even with much larger players in the market.
3. Fewer paper maps, please
- Today, a map is more than just a beautiful image. In the era of working in a spatial technology environment, maps are a means of collecting, managing, and sharing information widely in your business.
4. Develop a culture of innovation in the company
- We’ve spent a decade working with real estate companies through both economic downturns and periods of prosperity. We have seen many companies do well and others fail.
- The common motive of successful companies is their culture of innovation. Often the most innovative ideas in the commercial real estate market come from employees who know what it takes to win. Empowering employees to innovate requires a thoughtful and focused strategy and providing the best tools in the industry for their greatest talents.
- Introducing such a change in the culture of an organization is not possible overnight. It is a long-term process. Developing and supporting the team, so they can implement the location strategy, is the foundation for making a change in one of the most important aspects of real estate: location.
Conclusion
Technology is constantly evolving. Follow best practices and try to ensure that the technology you use does not become archaic, such as faxes, photocopiers, or microfilm. Even if costs have to be incurred in the short term, the decision to adapt activities to a long-term strategy is justified.
We no longer carry rolls of maps with us. Instead, we carry mobile devices. We do not take photos on film, and we do not need to develop them. We take pictures with a mobile phone with GPS location, which accurately registers the place of shooting. Instead of making notes on napkins, we store information on devices that offer location services. These are all examples of how location data and the strategy to manage it are changing the way we do business.
This change in strategy can pay off for many reasons. Better analytics, effective data management, and the right information products contribute to the return on investment.
