Consolidation in PropTech

In the below article, PropTech (aka property technology) CEOs, venture capitalists, and others in the space share what they foresee for the industry in 2023. Their answers ranged from a dip in investments to increased mergers, and more.   Here are a few of our takeaways and what we see coming in 2023. Companies raising the most money are also the ones consolidating their operations. This is because there is little to no money available to fund negative cash-flow business. These companies are having to focus on streamlining their operations and becoming more efficient to stay afloat.  Simplicity is key. With so many proptech companies competing for a limited pool of funding, those that can offer solutions that are easy to use and provide quick and visible results are likely to…

The supply chain issues have caused CRE to change

By now, everyone has experienced or heard about the tremendous supply chain disruptions that have resulted from the COVID-19 pandemic. Even today, three years since the outbreak of the pandemic, developers are still struggling with material shortages. This has led to a sharp increase in prices for building materials, making construction costs significantly higher and timelines more unpredictable. In response to this new market, many developers are making several adjustments to their processes, such as: Developers are ordering materials earlier in the design process. Supply chains are being reworked on a larger scale to reduce reliance on global sources. Developers and designers are turning to creative solutions to address shortages, seeking alternative materials or getting creative with the ones they have. What creative solutions have you seen developers embrace in…

Some States Keep Growing While the US Flatlines

The U.S. population isn’t growing as fast as it used to. In fact, the U.S. population increased by just 0.38% from 2021 to 2022, almost as low as 2020 during COVID.  But some states’ populations are still on the rise, as more people relocate. Below is an article from the Brookings Institute, showing that states leading in growth are: Texas Florida North Carolina Georgia Arizona Arizona, the headquarters of CRE OneSource, is listed as one of the states that continues to grow. On the other side of the coin, 18 states lost population, the most significant being New York, Illinois, and California. So what does this mean for businesses? There is tremendous opportunity for those companies based in these growing states. These states are attracting more people meaning more businesses…

What does a recession mean for CRE?

A recession is on its way, and whether you’re feeling it yet or not, everyone would do well to take stock of their business and lay a strong foundation for what's ahead.  The below article from JPMorgan Commercial Banking discusses their outlook on the commercial real estate market in light of the potential for an upcoming recession. Some sectors, such as multifamily housing, are still expanding and should remain relatively unaffected. Other sectors such as industrial and retail, however, are expected to experience a downturn in the event of a recession.  Here are a few key takeaways that companies should consider in order to be prepared for a recession.  Solidify your team - get a solid team around you that you trust and start discussing the future. Prepare them to…

Valuing Time

Part of our mission at CRE OneSource is to create time. Yep, that’s right. We want to give people who work in Commercial Real Estate time by organizing, streamlining, and automating parts of their business.  Why? Below is a good article from Success Magazine about valuing your time. We all know we need to spend our time wisely but actually tracking our time and seeing where we spend our precious minutes is hard. Especially if the processes we are using for a long time are simply outdated.  Here are some suggestions that our team is working on every day: Spend a week tracking your time. All of it. See where you are ineffective. (Click here to watch our CRE - The Unspoken Truth on Tracking Time)  Ask yourself, are there…

How to Manage Change

Have you ever had to make a major change in the way your company operates? Maybe you implemented a new software or completely restructured your team. How did that change go? How did your employees react to it? If you were lucky, the change went smoothly. But for many companies, change is a rough endeavor, and it is often difficult to get employees on board with the new status quo.  As a COO, I am constantly looking for ways to improve my leadership skills. I found the article below on how to manage change very helpful and applicable to both major changes, and day-to-day operations. My favorite tips were: Identify what and why people are seeking to preserve. This will build trust with your employees and show that you value…

Avoiding Workplace Burnout

Have you ever been so tired, so overextended, so burnt out that you were unable to work? You’re not alone.  According to the article below, 28% of employees reported that they burnt out in the last year, and over ⅓ reported that they had felt work-related depression or lack of motivation.  As a manager, the health of my employees is of the utmost importance. I am always looking for ways to embrace flexibility and improve everyone’s work-life balance. The article below lists two ways to help avoid burnout and work-related stress. Both of these strategies are so simple you could start implementing them today!  Share stories about your personal life Practice daily microsteps Managers, what are you doing to promote the well-being of your employees? And employees, what are you…

How to Use Asynchronous Work to Your Advantage

It’s no secret that remote work has become wildly popular over the last few years. While the benefits to working from home are plentiful, there are some real drawbacks. In-person interruptions in the office have been replaced by notifications that lead to long periods of little productivity. One type of remote work, asynchronous work, has become more common as people work across different time zones and countries. Asynchronous work combines the benefits of a flexible work space with the benefits of working whenever you want. The article below goes into detail on how to make the most out of remote work by moving to an asynchronous format. Some of the tips include eliminating the practice of responding within minutes, which is not practical for every industry, and carving out blocks…

How to Get Your Work Time Back

I love to read about how we waste time at work. I found the article below especially interesting because not only does it list common distractions at work, it also gives strategies on how to circumvent them. Some interesting facts from the survey by Udemy listed in the article: 16% of people stated they’re almost always distracted at work 54% of workers said they “aren’t performing as well as they should” because of workplace distractions 80% say a top distraction is talkative co-workers and 70% say office noise 60% of respondents blame meetings for low productivity My favorite tips from the article to stay focused are: Talk to people who are distracting you, and have an honest conversation with them Only check email at certain times of the day, so…

Technology is Coming

Technology is coming... Well, actually tech is already here. But it’s not too late to join the party! Every industry is different — some are already fully automated and completely reliant on technology, and others still use paper files! There is no need to compare a Commercial Real Estate firm to an investment management firm. However, that does not mean you should just be following trends in your industry. Instead, you have time to get a leg up on the competition! A large chunk of this blog has been dedicated to technology adoption and ways to automate in the business world. However, I feel that the article below puts it best on why a company should keep track of tech trends and integrate technology into their daily operations. Some of…