Wednesday, May 4, 2011

Commercial Real Estate & Real Estate

Commercial Real Estate and residential real estate has one thing in common, they both are pertaining to properties. But that's where the similarities end in so far as dealing with the nature of the business, how the property is sold/bought, and how the property is marketed or listed.

When we were approaching the redesign of the Property Line website back in 2007 (launched 2008), the design team had to quickly familiarize itself with the nuances of the CRE world, doing so would help us create a user interface (UI) that could effectively assist and make the lives of our user base more productive and eschew the 'just another pretty-faced' website route. We wanted a tool—a useful one first and foremost—then the eye candy as icing. We have been able to achieve that lofty goal at the time of its release, but like everything else, things change, technologies improve and open up new avenues that were not available beforehand. With that said, as we move forward, the tech team—comprised of designers and programmers—is always gearing up for a revamp, but a revamp takes time and careful planning and that's where the feedback from our members come in. Recently we've made a few adjustments to address a suggestion we received via Twitter (yes, we actually reply and interact with our followers!): We now have included the property name in the subject line in addition to the listing ID for every email notification that sends out to an agent. Commercial real estate agents/brokers can now quickly glance through their email inboxes and know what the inquiry is about in reference to their listing.

We love it when we can address simple solutions that has an immediate impact in the way the website and its tools are used. And with Commercial Real Estate, the quest for effective UI design and feature sets is a never-ending task. Allow me end this post with a snippet from an interesting article:
The difference between commercial real estate and residential are found in the types of properties being purchased. Commercial refers to land or buildings, while residential refers to homes. Also a significant difference is commercial properties are ones that earn income. The types of property for purchase can be divided into four divisions; retail, office, industrial, and multifamily. (Continue reading "An Overview Of Buying Commercial Real Estate" via BusinessNews Express)

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