In the ever-evolving landscape of commercial real estate, technology continues to play a pivotal role in reshaping the industry. One significant aspect of this transformation is the increased transparency brought about by the ability to track commercial deed filings and construction permits. These technological advancements have revolutionized the way stakeholders in the real estate sector gain insights into who is actively financing and building projects, ultimately fostering a more transparent and informed marketplace.
Traditionally, accessing information about commercial real estate transactions and development projects was a cumbersome and time-consuming process. However, with the advent of technology-driven platforms and tools, real-time data on commercial deed filings, construction permits, and other public records have become readily available. This increased accessibility has significantly enhanced transparency, empowering stakeholders to make more informed decisions based on accurate and up-to-date information.Tracking commercial deed filings allows investors and developers to monitor property ownership transfers, sales transactions, and financing activities in real-time. By having insight into who is actively involved in financing projects, stakeholders can identify key players in the market, assess market trends, and make strategic investment decisions.
At Elrock, we use this information to automatically track closings and updates to loan parameters. Most brokers rely entirely on manual lender relations efforts to track the lending activity of the funds in their database. While this has been the standard for years, it's no longer a best practice due to the widespread availability of closing data online. Our database receives information from targeted tech integrations to keep systems current and to ensure that our clients are gaining access to the most up-to-date programs available. When a new closing is publicly posted, the details are exported from the data source and imported into our system, and the fund's parameters are immediately refined.
While this saves us valuable time, some companies are more discreet about their closings. To account for those firms, we have a team that regularly communicates with the key originators to manually input the necessary information into our system. The success of this process relies on a healthy balance between technological implementation and individualized expertise. This is just one of the areas in which our team is utilizing that balance to make the capital raise process more efficient.
Get in touch with our team to discuss your financing needs.
