Technology That Will Transform CRE Transactions

Jacobs: “There is a huge amount of latent demand for tools that remove many of the obstacles traditionally associated with CRE transactions.”

IRVINE, CA—Moving forward, much of real estate technology will be focused on allowing more control and transparency in transactions for buyers, sellers and brokers, Steve Jacobs, general manager of the commercial real estate division of Ten-X, tells GlobeSt.com. The firm recently released Offer Select 2.0, an enhanced version of its Offer Select technology launched in 2016, which closely mirrors the traditional commercial real estate transaction process, but streamlines the transaction with standardization and technology.

Offer Select 2.0 facilitates the process of investors and brokers buying and selling real estate online. The recently unveiled updates simplify the buying process by letting buyers upload their own letter of intent or submit their offer terms online and by allowing them to make offers prior to completing the certification process. New filtering functionality also allows investors to hone in on specific asset types, such as net-lease properties. Offer Select 2.0 also includes a completely redesigned property details page, which enables sellers to better showcase their assets and provide buyers with more data to evaluate investments.