Commercial real estate apps

Apple’s App Store recently surpassed 25 billion app downloads. How many of those were for commercial real estate? Not many, especially when compared to the number of residential real estate apps. But in commercial real estate, an industry where hustle pays o , an app’s ability to quickly supply answers can provide crucial momentum to keep a deal moving forward.
We asked CCIM members to discuss how they are using the current batch of commercial real estate apps, which includes listing, nancial, and demographics programs.
LoopNet Commercial Real Estate Search
Devices:iPad, iPhone, Android
iTunes rating: ★★★★
Android rating: ★★★
Price: free download, premium subscription required to access all features
Instant answers result in decisions instead of wavering and possibly not closing the deal,” says Robin Kesler, CCIM, commercial director at Re/Max Optima in Oviedo, Fla., who uses both CoStarGo and LoopNet’s app to get her answers.
For comps, tenant analysis, mortgage terms, and information about a property’s physical structure, Kesler uses CoStarGo. To view nearby listings, she typically uses LoopNet’s app. “CoStarGo’s strength is what happened in the past, while LoopNet shows you what is happening now,” Kesler says. Similar to CoStarGo, LoopNet’s app allows users to search for rental or sale properties near their current location or in a speci ed city or state. Results are plotted on a Google map, where users can modify the study area’s size or location. Tapping on a property displays its rental rate, broker contact information, and description.
Despite their convenience, apps aren’t ready to replace so ware that was designed for a computer. “CoStarGo is terri c because it helps solidify a decision while the decision maker is focusing on the property,” Kesler says. “But I generally use the Web platform for more in-depth analytics and to access quarterly reports.