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Using technological innovation in real estate

California real estate investors and developers stand to benefit by making use of advances in technology. This can help them to get a better handle on their business, increase organization and streamline everything.

The U.S. commercial real estate industry sector accounts for $12 trillion in business, by some estimates. Some of the largest companies now rely on cloud-based systems to keep track of the data for all of their holdings. This helps those companies lessen the time between a property's becoming vacant and becoming re-occupied, allowing the company to reduce losses and increase profits.

Investors that count apartment buildings among their holdings necessarily must deal with much more frequent tenant turnover than do those who own other types of commercial properties. They may benefit by using workflow automation software, which can help them to identify under-performing buildings and then address the problems that may have caused the lower occupancy rates. Software can also allow owners and managers of apartment buildings to list available apartments with multiple sites simultaneously, helping to reduce hours and time spent listing them on one platform at a time. Brokers may also benefit by using mobile apps so that they can bring their offices with them when they are out in the field rather than running back and forth.

Taking advantage of the latest technology may help investors and developers with making their businesses more efficient and profitable. Legal counsel can assist as well, through drafting a purchase agreement and reviewing financing documents for provisions that could prove troublesome down the road.

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