Commercial real estate deal volume is slowing with higher interest rates, and many deals are being paused or canceled. Document management can help smooth transactions to avoid unnecessary delays, thus increasing the chance of success in a shaky commercial real estate market.

Current Commercial Real Estate Challenges

Commercial real estate deal volume has been slowing, in no small part due to interest rate hikes, and the pandemic aftermath is not helping. Securing financing sources has become more difficult for many deals, and clients are often putting a kibosh on deals before fruition.

As a double whammy of sorts, the cost to borrow is increasing while commercial real estate prices for many types of assets, such as office buildings and warehouses, are dropping. Certainly, with the remote work revolution cemented into place during the COVID-19 pandemic, many workers may never be returning to the office, and businesses are enjoying the cost savings of less office overhead.

Thus, some in the CRE industry are predicting things won’t be getting better anytime soon, or at least for the next few years. Commercial real estate lawyers are now becoming creative to try to push deals through. These non-traditional deals can include:

• mezzanine loans combining debt with equity for lenders
• preferred equity commercial mortgage-backed securities (CMBS) 
• private label commercial mortgage-backed securities (CMBS) 

Commercial real estate agents, title companies, insurance agencies, and brokerage firms all need to be limber and flexible in order to be successful in this ever-changing and volatile environment.

How Can Document Management Help Commercial Real Estate Deals?

In this fluid environment, speed and efficiency can make a huge difference in your ability to close a deal. If negotiations are hung up because the right documents are taking too much time to be produced and delivered, you are running the risk of losing the sale. The difference between a Monday and Tuesday could be huge in today’s environment. One day, everything might look fine, but the next day, the market has crashed. 

Therefore, it behooves commercial real estate firms to have their act together as much as possible, to speed the buying and selling process as much as is feasible.

Improving business processes is an easy step to take to make sure that you’re ready for the next big commercial real estate deal. One area that should be prioritized for any commercial real estate firm, insurance agency, or title company is document management. 

Document management is all about having technology systems in place to manage files and electronic documents. It might include processes and systems to scan and paper documents and convert them to digital.

Commercial Real Estate Security and Compliance With Document Management

Two critical areas for commercial real estate are security and compliance. Meeting compliance regulations can cost time and money. Fortunately, document management services can automate much of the compliance process for you, speeding up the time it takes to complete deals, as well as reducing overall costs.

Of course, you need to keep your commercial real estate documents secure. Sending contracts over via insecure email is really not a good idea. With the right document management technology, your team can collaborate using secure systems that will reduce the likelihood of confidential information falling into the wrong hands.

Document Management for Commercial Real Estate

Do you want to be more successful with commercial real estate? Commercial real estate agents, title companies, insurance agencies, and brokerage firms can all benefit from document management solutions.

Blue Technologies is a leading office technology provider in Ohio. We offer a variety of customized document management and security solutions to reduce labor time and speed up inefficient processes. Our systems can help smooth commercial real estate transactions while helping you maintain compliance. We offer a free assessment so you can learn more about how document management can support your commercial real estate endeavors.

Don’t miss out on commercial real estate deals due to inefficiency. Contact a Blue Technologies consultant to learn more about how document management can help your real estate agency or firm today.