While computers have made it easier to do site selection from your office, a smartphone with the right commercial real estate app package gives you the best of both worlds. Instead of having to be stuck at your office to get access to the data that you need, you can be in the field at potential sites and still have access to all of the data that you need to support what you learn on-site. To be truly productive in site selection, you only need three apps:
Space Availability Application
CoStar's commercial real estate app is probably the best example of this type of application, although Loopnet and other companies offer similar ones. These tools let you search the universe of available spaces in a given area while you are there. they provide you with lease data, broker contract information, and anything else that you might need to quickly decide whether or not to cross a site off of your list. Most also offer map views to help you visualize where space is available. The ability to break out properties by age also lets you see where the new construction is occurring at a glance.
The problem with apps like CoStar or LoopNet are that they require relatively expensive subscriptions for you to be able to get maximum value from them. To help combat this problem and to potentially offer more comprehensive access to market data, some states and communities are creating a market-specific commercial real estate app that helps you find sites in the area. Some examples of this are the Access NC and YesVA apps for North Carolina and Virginia, respectively. Both are free and available for both Apple and Android devices.
Staying Connected
Site selection doesn't happen in a vacuum. To be productive in the field, you don't only need access to site information. You also need access to your company's data. Whether you accomplish this through a VPN connection, a private cloud application, or a public cloud tool like SkyDrive, Google Drive or Dropbox, being able to get to proposals, specifications, timelines, and everything else you need will make you more productive in the field.
Skype, FaceTime, and every other video conferencing program didn't start out as a commercial real estate app like GoTo Meeting or GlobalMeet. However, given the high quality of the cameras built-in to many smartphones and tablets and the high-speed 4G cellular service that is readily available throughout the country, your smartphone is a window into potential sites for people back at the office. Your team may not make a decision over a video conference, but the ability for more people to see the site before a decision gets made can help you to uncover potential issues or to get different perspectives on which site is best.
Installing and using a commercial real estate app or two will help you to get better data about what's available, do a better job of understanding each site, and better communicate with the home office. In addition to the ones identified here, which commercial real estate app do you find indispensable?
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