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What Is BIM? Why It Will Change Commercial Real Estate Forever!

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Building Information Modeling.

It is certainly not something that is entirely new or unknown in commercial real estate. Take a quick look at the video to get the basics of BIM.

Ok, so how will this change commercial real estate forever?

3-D Visualization:

1.Marketing inside outside upside and backwards. Think I-Pad and touring or….. maybe not touring.

2.All tours available anytime anywhere online.

3.How does the building look and compare to the structures it sits next to now?

4. What will the space look like for the potential tenant?

4. Possibilities are endless.

Data or Change Management:

1.What if you have a space that needs a build out? The data already exists and is…Oh No I’m not going to say it …. TRUE and ACCURATE.

2. The building will be able to access the data and adapt and create a $$$ scenario for both the tenant and owner.

3. Engineers,Contractors, Maintenance,Managers help keep the data…OH NO…TRUE and ACCURATE.

Building Simulation:

1. Yes it makes perfect sense to simulate what may happen before it is built.

2. The bigger and more compelling possibility is to use the same data set on existing buildings.

3.Creating a TRUE and ACCURATE Data Standard. Just for the record. I want to own the company that does this. Maybe I already do!

Data Management:

1.The data can and will be used during the entire life cycle of the structure

2.It has more value to the owner of that data than the actual structure itself. I want to own that company.Maybe I already do too!

Bigger Picture.

1. BIM technology and or the use of it and the data created equals low risk low cost high reward.

2. This is not just a software program that creates pretty pictures and helps contractors and architects get deals.

3. Everyone asks me what is “The Next Thing” for commercial real estate.

4. BIM changes commercial real estate forever.

5. It not only is the next thing for commercial real estate…it may be the last thing for a long long time.

 

Photo Credit:http://www.flickr.com/photos/atelier_pro/5594783493/

 

 

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  • I totally agree with you. BIM is going to affect practically every part of the industry.

    I think we can all agree that the data has value. Therefore, a building with BIM should be valued higher than an identical building without it. Appraisers will have to learn how to value software, security, the data, ease of access to it, and data applicability.

    I foresee investment proformas of the future will contain evaluations of BIM. And how long will it be before lending institutions will want an appraisal of the building’s BIM? Should BIM buildings get favorable lending rates over non-BIM buildings?

    It will also be interesting to see the effects of BIM on building insurers. I know insurers are interested in BIM in the design and construction phases but I wonder if they’ve started considering the effect throughout the rest of a building’s life. For example, if you can stress test various elements in the building’s utility services then you should be able to model the risk of failure over the building’s lifetime. Will insurers want access to the BIM data and will they give preferential rates for it?

    I’m particularly interested in the implications of BIM for occupiers. There’s much potential here.

    This issue is going to run and run.

    Donna Hopkins
    Anglo American Workplaces

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  • Frank Jutras

    First off, I am a visual person so I love when new concepts are presented in videos. I think your point is well-addressed and easy to understand because of the format it’s presented in – thanks for that! BIM is poised to be the next big thing in the building and managing of commercial property.

  • The next big thing in CRE is accurate, collaborative and low cost data from companies that don’t make you call a sales rep to and lock in to set up an account.

    Where’s the product, where’s the pricing page and where do I enter my credit card information?

    This is not a car dealership and it is 2012. Spot on with your airbnb comment in another post.

  • krystaelaine

    I’m interested in knowing more about how traffic analytics come into play with BIM. It seems like a great aggregation of so many different types of data, both in real time, as well as trends over time. Of course, I mention this for entirely self-serving purposes, as I work for a pedestrian and vehicle analytics company. Is there a place for this information in BIM to better allow CRE professionals to assess true value?

    Krysta Gahagen
    Motionloft

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  • Floored.com

    Thanks for pushing 3D visualization & data for CRE. You know where we stand on that 🙂

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