After 30 or so reviews on CRE App Review, here’s our top 5 must-have iPhone apps for CRE Investment Brokers:
1. Real Capital Analytics Transaction Search. By far the most exhaustive database of investment-grade commercial property sale comparables. This app allows you to carry $5 trillion of sale comps in your pocket. It even allows you to map comps surrounding a specific address, which is great when you’re in the field or on a property tour.
2. Real Estate Back of the Envelope. While it’s not Argus Valuation DCF, this app is by far the best mobile commercial real estate valuation application I’ve ever used. It is the only app I know of which is robust enough to satisfy the needs of experienced CRE financial analysts who build discounted cash flow models to derive IRR calcs on a regular basis.
3. Tie: DropBox or Box. A cloud-based document management tool is a must for investment sales professionals. Maintaining marketing and due diligence materials in a place where you can access them anytime, anywhere is key. If you’re in need of a solid business based cloud solution with lots of access controls, Box is the obvious program of choice. But if you are looking for a simple file sharing solution without all of the bells and whistles, Dropbox provides a great solution, too.
4. A 360 Panorama Tool. While not many investment brokers use Panos now, it has become increasingly popular for tech-savvy leasing agents (case-in-point: Greg Hoffmeister). This is an app which will set your deals apart for potential investors. There are several great alternatives, including TourWrist, Photosynth and 360 Panorama.
5. Geo Measure. Ever been on a tour and an investor asks, “How large is the vacant lot next door?” Using Geo Measure, you can immediately estimate how many acres a development site contains.