Newspaper article THE JOURNAL RECORD

Commentary: Commercial Real Estate and the iPad

Newspaper article THE JOURNAL RECORD

Commentary: Commercial Real Estate and the iPad

Article excerpt

Apple made quite a splash last week with the unveiling of their latest mobile computing device called the iPad. Reaction thus far has been mixed since Apple's announcement. One side of the debate feels the iPad will revolutionize personal computing and communications just as Apple's iPhone did. Others argue that the iPad is simply an overgrown iTouch and is certainly not worth the upgrade. It is still early for a debate especially since the iPad is not available for consumers.

When it comes to commercial real estate, the iPad could prove to be a very valuable tool for commercial brokers. By no means do I think the iPad will revolutionize the industry, but it will enhance some of the mobile communication and Internet tools that commercial brokers use in marketing their properties to potential buyers. I also think that commercial real estate professionals should not eliminate their current laptop or personal computer in favor of the iPad, but instead they should view the iPad as just another device to add to their growing arsenal of tech tools.

In looking at how the iPad could benefit commercial brokers, the most obvious way would be to use the device on-site when showing a potential buyer a property. For example, imagine you are showing a 70,000-square-foot office building to potential investors. As you are taking the clients on a tour of the building, you could use your iPad to give your clients immediate access to such pertinent information as profit and loss statement spreadsheets. You could also use the iPad to allow the clients to view information from the county assessor website about the property or view sales comparables that help in justifying the asking price. The device would also afford you a tool in looking up quick answers to questions about the building or the market in general the clients may have while you are on-site showing the property. …

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