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  • Charles Wimbley

Drones in Commercial Real Estate

Drones! Drones! Drones! These days, you hear about them everywhere! These unique, mini flying machines have been written about in the media, used as cute gimmicks in commercials, and have even captured the imagination of a paranoid public as creepy spying devices. But in reality, drones, especially commercial drones, are so much more than a toy or flying apparatus – they are useful tools that provide an enormous amount of value to so many different industries. According to estimates, the drone industry will morph into a $127 billion-dollar economy within the next 10 years and provide over 100,000 new jobs. With the integration of advanced artificial intelligence (AI), GPS, barometers, Intel chips, and ultra-high definition cameras – drones are slowly becoming a useful airborne platform; especially in the commercial real estate (CRE) space. Here are five benefits that drones provide to the CRE industry:

1. Drone shots make your CRE listings stand out.

Drone videos and photographs provide a real opportunity for companies to stand out by embracing this new technology; thereby, distinguishing themselves from other competitors. Presently, drone related shots also lift the profile of the agent and company. In the not too distant future, drone video and photography in CRE listings will be required in order to compete.

2. Drone shots help prospective investors make better decisions.

Smart buyers and investors looking to acquire commercial real estate want to see every inch of the property space in order to identify its true potential. This is not easy to do; especially with large-scale, multi-story properties. Prospects from around the globe can now see aerial views of commercial real estate on their computers - in real-time - and better determine the full value of a particular property as well as the benefits of its surroundings.

3. Drone shots are an asset in construction.

Construction sites are not known for its efficiency. Every year, billions of dollars of materials are loss to mismanagement. Drones can collect data with a new level of accuracy that allows site management to better optimize tasks and resources with unprecedented degree of efficiency - which leads to significant cost savings. Drone shots can also provide up-to-date status of construction site progress - in various stages - for management.

4. Drone shots are effective for surveying.

Drones have also been extremely useful to surveyors in preparation of property reports and for managers, investors and owners. Today drones can accurately produced 2D and 3D maps - as well as orthomosaic models for property site analysis. These added benefits of having precision data presented in a 3D format for the CRE industry are endless.

5. Drone shots can provide traffic patterns and trends.

Drones not only effectively provide views of a property and its local surroundings, but it can also help buyers determine traffic patterns and major arteries at different times of the day. This is a huge benefit for the seller - and is critical when determining the true value of the commercial asset.

Overall, commercial drones are increasingly showing their value, advantage and convenience to the CRE space. Companies that embrace this burgeoning new technology as a go-to marketing tool will quickly set themselves apart from their competitors.

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