According to MordorIntelligence, the commercial real estate industry is expected to reach USD 87.57 billion, growing at a CAGR of 21.1% till 2028. But, with the post-COVID work-from-home culture extending, the net office absorption of commercial spaces remained low in the first two quarters of 2023. However, Q3 of 2023 has shown a sharp hike in office space absorption and is likely to grow in 2024 as 90% of companies say they’ll return to office by 2024 end.
The new return-to-office strategies include facilitating hybrid workers in clusters of multiple locations. Geographical limitations, lack of digital access to the realty network, and limited comp space make it difficult for a broker to find a singular sale, resale, and leasing solution.
An Indigenous Collaboration Created A Global Patent-Pending App
The available digital real estate and broker networking platforms levy hefty fees, restricting access to properties and clients across the country. Broker2Broker, a firm run by a group of seasoned real estate experts, collaborated with Appinventiv, a digital engineering leader, to create an innovative digital platform that lets brokers trade properties and negotiate deals directly. To stay competitive, brokers kept their comp data as isolated as possible. With collaborative, commission-free digital trades of sales, resales, and leasing opening up as an opportunity, the global commercial broker network can share their properties and clients while expanding their earning potential globally.
Solving A Complex Digital Puzzle To Facilitate Broker-To-Broker Trades
To build a transparent, secure, and globally accessible inter-broker trading platform, Broker2Broker’s vision needed a fully custom-built website and application that would become the go-to workstation for CRE brokers worldwide. Considering the big token size of transactions, Appinventiv invested heavily in the R&D and identification of the competitors to form a tight go-to-market strategy. The development process had to be completely discreet yet fast to gain first mover advantage.
Analyzing the potential, Appinventiv extended the app’s capabilities from a digital community to a complete Real Estate Management tool with a nominal subscription fee compared to the high-cost real estate software. The team of 1600+ tech experts also redirected the transactions to the website, saving 30% in in-app transaction commissions of Google and Apple’s app stores.
“After a thorough search and reference calls, we selected Appinventiv as our design and development partner. They took us all the way from concept to build and launch of iOS and Android apps on the app stores. Our commercial real estate industry expertise, plus their ability to design and build apps quickly and efficiently, has made for the perfect partnership. Appinventiv has positioned us to change how commercial real estate brokers get comps.” said Jeff Star, co-founder of Broker2Broker.
The platform is now live in its initial learning phase, and all the subscription fees are waived for early subscribers. The unique app has been sent for patent approval to the United States Patent and Trademark Office (USPTO). If this platform can help client-end and property-end brokers connect transparently, quickly, and safely, it will not only create an impressive earning opportunity but can scale up to impact the global commercial real estate market.
“Broker2Broker has the potential to revolutionize the commercial real estate industry and can benefit residential real estate if they choose to extend their services. Appinventiv is proud of this collaboration to build an innovative product that is now patent-pending to become the first-ever real-estate trade network worldwide,” said Sudeep Srivastava, co-founder of Appinventiv.
About Broker2Broker
Broker2Broker is a software company focused on creating products that allow commercial real estate brokers to create more value for their clients. The co-founders have years of experience in commercial real estate and software.
This story was first published on ANI
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