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A real world look at 360 street view for CRE

Anyone that has followed some of my post knows that I love the way new technology is pushing commercial real estate.  A REAL case in point is Piedmont Properties based out of  Charlotte, North Carolina.  It seems that a couple of the boys at Piedmont have a couple of techy connections at Chasevision and they hatched a little experiment.

Let’s play with some toys?

Well, what do you get when you take Google Street View technology and apply it to a commercial real estate warehouse?  You get this!  Look at the instructions below the video.  Drop your cursor in the screen and play around. Fun, neat ,interesting?  So what?  I will tell you so what! Piedmont received an offer within a week from an out of town buyer…that’s WHAT!

What does this really do for CRE?

Does this kind of simple thinking really take that much?  What…maybe two beers and a basket of dill chips. I’m not suggesting that  Piedmont and Chasevision just threw this thing together. Yes, it took thought and planning and execution. What it really did was show the seller that he has contracted commercial real estate professionals.  Professionals that realize it’s 2010, and look to use what ever tools necessary to market,and sell a quality property.

Convergence?

I have seen a little bit of this kind of tech and cre merge lately.  It’s not enough.  From the conversations that I have had with several of the companies that have this and other technologies available, is that they are begging people to use it. 3-d mapping, street view, augmented reality,I-pad apps, geo-locating, mobile video. Conversations with the potential commercial real estate users bring out the standard, “It probably costs too much, no one looks at that kind of stuff, we are doing great with what we have.” comments.  REALLY???  You can say that with a straight face ?  Maybe I am leaning a little too hard.  I do know that there are some people trying to push.  What I think the commercial real estate market is guilty of is a limiting point of view towards the use of technology.  For the life of me I cannot figure out why?

Real Life

Two properties that are available for sale and lease in my area.  Inquiry for info.  Response…the owners will not give any info beyond the square footage and general layout until a offer and due diligence period is established.  You guessed it.  Both potential users…. Passed!  Go ahead limit your potential buyers, sellers,or users.  Companies like Piedmont and Chasevision are at the very least pushing to find the clients that look at  technology as a way to simply help create a transaction.  Thoughts?

Photo via Flickr: http://www.flickr.com/photos/pixelydixel/

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  • We’ve done something similar, and on client listing detail pages display a slide show of their images, a google map which defaults to a combined map/satellite view, but also has the option of Google Earth which has the 3d capabilities similar to what Duke’s writing about.
    Then we also display a Google Street View as an additional map (where it’s available).

    Cheers, Tom

  • Nice one, Duke. While GIS giants such as Esri and PBBI (MapInfo) will always have their place in CRE as necessary RESEARCH tools, an exciting, new menu of FREE services has emerged for property-specific MARKETING. Because many of these tools exist online, they are a natural fit to showcase properties within a corporate CRE website. There are a number of free online GIS (mapping) players (and layers!), but I am astounded by the daily advances in technology at Google (OK – no birdseye’s, but that is soon to change). More and more, I see CRE companies realizing that Google maps may also be used as a canvas/backdrop on which to display their properties and invite interactivity with potential tenants/buyers.

  • Dave – you are correct about the advances in online tools…it is amazing what is out there. We started looking at Google and figured there was a need for a very customized 360-video experience (as opposed to static and dated images). We are always looking for opportunties to demonstrate our vision.

  • Y’all ain’t seen nothing yet!

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