What are the Challenges of Commercial Real Estate?
If you asked the question, “What are problems in the real estate industry, especially in CRE?,” the answer would be data. Bad data, incomplete data, and a lack of data make current CRE data one of the biggest problems in commercial real estate. In this blog we are discussing the controversial real estate topics, tough real estate questions, and changes in the real estate industry as they pertain to data.
Commercial real estate (CRE) is a multi-trillion dollar industry. It encompasses agents, buyers, sellers, contractors, developers, landlords, and other professions. With so much money and so many people involved across the entire country, it makes sense that one of the hot topics in commercial real estate is commercial real estate data.
CRE data helps all of the people involved in commercial real estate make more informed strategic decisions. It helps answer questions like:
- Is now a good time to invest in real estate?
- What is a fair price for this property?
- What are the market trends in CRE?
- What factors affect commercial real estate and how?
There are plenty more questions that CRE data can help you answer, both big and small. However, what you might not realize is that CRE data is also an answer in and of itself. That’s right. If you asked the question, “What are problems in the real estate industry, especially in CRE?,” the answer would be data. Bad data, incomplete data, and a lack of data make current CRE data one of the biggest problems in commercial real estate.
That’s why in this blog we are discussing the controversial real estate topics, tough real estate questions, and changes in the real estate industry as they pertain to data.
What is the Problem with Current CRE Data?
One of the biggest challenges facing the real estate industry in 2022 is incorrect or incomplete data. In fact, around 40-50% of all commercial real estate data is inaccurate. For example, typical real estate data can be:
- Old or outdated, that doesn’t reflect the most up to date information such as recent developments
- Incomplete or missing key data points or only partially available from any one source
- Lacking context specific to one locality or geographic area
For all the help that CRE data can provide, if the data is bad to begin with, all of that help can potentially turn to harm. Imagine trying to make key decisions with faulty data. Imagine buying a strip mall without knowing what other retailers are nearby. Does the area even drive enough traffic to be profitable, or is that where storefronts go to die? With millions of jobs relying on commercial real estate and CRE data, it’s important to get it right.
Canyon Data has set out to remedy those issues and forge the future of commercial real estate data.
The Future of CRE Data
At Canyon Data, we provide data that is not accessible on any single platform or from any single source. Our proprietary process, using robotics, A.I., human collaboration, and local researchers, captures more extensive datasets than anyone else in the industry, all in one location.
What’s more we believe that the value of our commercial real estate data revolves around five pillars:
- Intelligent and premiere insights
- Local people and local information
- Unparalleled information
- Data you can trust
- Unprecedented efficiency
Let’s break down each one a little further.
Intelligent and Premiere Insights
With our dataset, users have access to every kind of demand driver needed to make decisions that are fully informed. Our data sets are updated constantly and detailed over time, providing you with value to make profit in the long-term.
Local People and Local Information
Our data process starts with a local boutique approach. We hire local researchers who are well versed in CRE appraisal. They go on to build lasting relationships within the CRE industry. We combine this deliberately local approach with our state of the art A.I. and robotics to create truly comprehensive and unparalleled datasets.
We are proud to say we are the first company to provide:
- business listings
- traffic maps
- up-to-date building approvals
- accurate occupancy data and rental rates
Together all of these variables and our proprietary process gives our partners the data-backed insights into both demand drives and supply pipelines in a side-by-side view. This helps them determine both current and future market value.
Data You Can Trust
Not just scraping together data, but actually verifying its accuracy. We utilize several different tactics to verify our data and update it monthly to provide a precise multi-point CRE rating.
The simple truth is that paying for multiple data sources and piecing together relevant information bit by bit is costly and inefficient. The datasets we provide are more exhaustive and more accessible, all for one low monthly subscription fee.
Canyon Data… Your Future Awaits
If you are ready to finally access the accurate and cutting edge commercial real estate data you need to make better decisions and better investments, you are ready to partner with us at Canyon Data. To see everything we provide that you are missing out on right now, check out our comparison chart. Still have questions? Contact us for more information. Ready to get started? Subscribe today!