GIS technology, which is an online geographic location system, can be utilized to help the real estate industry make more informed decisions. This technology can be applied to analyze commercial properties, in order to hone in on properties that offer the best fit for clients. Through information sets, including demographics, aerial photography, traffic counts, foot traffic counts, shopping center usage, merchandise potential and competition influence, real estate firms can arm themselves with the proper information to make better decisions.
Geographic location has always been the driving force in real estate, now more then ever. In a world where everyone has an endless amount of information at their finger tips, it is more important than ever to offer consumers the most convenience and highest service possible. In order to stay relevant, businesses need to be able to have a location that offers them the highest rate of convenience towards their potential customers. These companies are now relying on commercial real estate firms to provide them with business locations that can help them achieve the most consumer interaction and traffic. In order to stay established as a valid competitor, commercial real estate firms need to utilize the advantages that GIS technology can bring.
On a more local scale, these technologies can be used by residential real estate firms. GIS can help real estate agents and clients to help map out neighborhood characteristics that fit their specific molds the best. Information such as neighborhood family demographics, walk ability scores, traffic counts and transportation scores can help in determining the best fit. Prior to the application of this technology, determining the best fit for a family was a much longer process that did not provide the same extent of information.