Streamlining CRE Purchase and Sale Process

CRE is a legal term for Commercial Real Estate. It includes office space, warehouses, and retail space. CRE purchase and sale processes can be frustrating and time-consuming, with numerous documents to sign by lawyers, brokers, buyers, and sellers.

Wouldn’t it be much easier if the various parties could speak directly to each other? The CRE process would be transparent and less expensive for all parties. Below are some of how Blockchain technology can help streamline the CRE process.

1. Reduce the Time to Closing With Smart Contracts

When you go to a restaurant, you order food and then wait for it to arrive. You are also charged at the end of the meal for your food, whether or not you receive what you ordered. Smart contracts are used because they reduce paperwork and errors by providing an automated payment system that eliminates human interaction with the process.

2. Eliminate Paperwork and Errors

When you buy a home with a mortgage, you must sign many documents, such as the mortgage and the deed, to make legal promises. The use of smart contracts can reduce this paperwork and eliminate errors by having all agreements digitally recorded on the blockchain. It would enable all parties to easily see what exact terms have been made, eliminating much of the human error and conflicts arising during closing documentation.

3. Reduce Costs

Smart contracts reduce the time and money that each party spends on the transaction. For example, closing costs are often high. This sum can be reduced by having all parties sign off on a UI (user interface) agreement at the close of escrow, reducing the amount of paperwork required to close correctly.

4. Reduce Risk

Typically, there is a relatively large amount of risk in residential real estate transactions because of uncertainty regarding property values and financing. Smart contracts reduce this uncertainty by automating all agreements and providing a transparent system that allows all parties to see the exact terms each party is entering into. It reduces the chance of human error, such as misspeaking or overlooking an important detail.

Conclusion

The use of smart contracts can significantly reduce the time, money, and risk necessary for a CRE transaction. It can improve the quality and speed with which closings take place while reducing risks and paperwork. With this in mind, it is clear why Blockchain technology will continue to significantly impact CRE throughout the year and in years to come.

This article was originally published on Jack Nourafshan’s website.

Promoting Corporate Philanthropy

The world is full of people, but it’s also full of needs. Corporations are an integral part of meeting these needs by providing jobs and developing communities, but they can also make a difference in the lives of individuals through corporate philanthropy. Below are ways of promoting corporate philanthropy.

Get Out in the Community

One way to promote corporate philanthropy is by getting out in the community and making a difference. Participating in activities such as volunteering for children’s summer camps, food banks, or disaster relief allows corporations to build relationships with local charities and become more active members of their communities. This can be done by simply donating money, but lending hands-on support also has an impact because people can see firsthand how generous companies are with time and funds. Getting involved helps meet the needs of the disadvantaged within the community. It allows corporations to interact more directly with customers, creating a closer relationship that could prove beneficial down the road.

Give more than money

Companies should not only be active in the community and give money but also time and resources. As mentioned above, donating resources such as food and clothes to local communities demonstrates a corporation’s generosity and commitment to their community.

By giving back to the community through more than financial means, companies can make an even bigger difference by helping less fortunate members of society, thus promoting corporate philanthropy.

Understand your audience

While it is always beneficial to give back to the community, companies should understand who they are giving to. This means understanding age groups and what certain organizations specialize in. For example, donating food to an organization that deals with children’s homes would be ideal because it provides for people who need it most (children) rather than simply donating food to a community center.

Level social media strategically

Providing services for those who need them the most is just as beneficial as simply donating to a cause, and society will usually see this and acknowledge it. Using social media to promote companies’ philanthropic efforts helps create a good reputation and can be used as an incentive for people to support their company. Companies should consider sharing before and after photos of people who have received donations, along with information on the charities they are supporting. This encourages other businesses to participate in corporate philanthropy and help generate an audience for these social media accounts.

Employee involvement

As helpful as it can be to have a company’s support, it does even more for people when employees get involved. Employees are the ones who work with organizations on a daily basis and are in the best position to endorse what they do. Employee volunteer days allow companies to share their efforts with other businesses while helping improve morale by getting employees involved in their communities. Showing employees that their company is doing good for others also allows corporations to develop a sense of pride within the company. Using social media to post about employee volunteer days or simply sharing stories on what they have done creates an environment where people are happy to work at the organization.

This article was originally published on Jack Nourafshan’s website.

Is Pivoting a Sound Business Strategy

Introduction

Pivoting means changing the fundamental nature of what you do to meet new challenges or take advantage of new opportunities. In other words, pivoting is a change in a company’s fundamental strategy.

Is Pivoting a Sound Business Strategy?

Pivoting is a sound business strategy; it depends on the situation. Business demands can change fast, and you may find yourself in a situation where your goal is no longer the best long-term solution. In that case, you need to look for opportunities that are more aligned with your core strengths.

How To Execute A Successful Business Pivot

1. Evaluate all your options

Truly successful pivots are seldom about doing something new. They’re about doing something better. If a pivot involves starting from scratch, make sure there is a strong reason.

2. Pick the best option that allows you to leverage your strengths

Pick the option that is likely to be most likely to multiply your resources and achieve your goals more effectively than you could have done otherwise.

3. Look for opportunities to profit from the change

For example, if an opportunity arises for you to earn higher margins by offering a lower-cost product or service, opportunities are everywhere, even if they are not immediately apparent.

To read the rest of this article visit Jack Nourafshan’s blog.

How AI Has Changed Business

Artificial intelligence has been around for a long time, but it has only recently started to make an impact in the business world. AI has changed the way we do things and opened up new opportunities for businesses of all sizes. This article will discuss how AI has changed the way we do business and some of the benefits it offers. We will also look at some of the challenges of implementing AI in your industry.

1) Increased Efficiency

One of the most significant benefits of AI is that it can help increase efficiency in your business. AI can automate tasks and processes, which can save time and money. For example, chatbots can handle customer inquiries, which can free up employees’ time to focus on other tasks. Additionally, AI can be used to optimize processes, such as supply chain management, which can help to improve efficiency and reduce costs.

2) Improved Decision Making

AI can also help to improve decision-making in your business. With AI, you can access large amounts of data that can be used to make informed decisions. Additionally, AI can help automate the analysis of data, speeding up the decision-making process. This can be particularly useful for businesses looking to make quick decisions in a fast-paced environment.

3) Enhanced Customer Service

AI can also be used to enhance customer service in your business. With AI, businesses can provide a better customer experience by automating tasks such as responding to queries and providing support. Additionally, AI can personalize the customer experience by understanding their needs and preferences. This can help improve customer loyalty and encourage them to return to your business in the future.

4) New Opportunities

AI can also help businesses to explore new opportunities. With AI, businesses can analyze data to identify trends and patterns that may not be visible otherwise. Additionally, AI can be used to create new products and services that meet customers’ needs. This can help businesses stay competitive and maintain a leading position in their industry.

Although AI offers some benefits, there are also some challenges that businesses need to consider. One of the biggest challenges is ensuring that AI algorithms are bias-free. Additionally, businesses need to ensure that data is properly managed and protected to avoid privacy breaches. Another challenge is ensuring that AI applications can handle unexpected situations.

In conclusion, AI offers several benefits for businesses of all sizes. It can help increase efficiency, improve decision-making, and enhance customer service. Additionally, it can help enterprises to explore new opportunities and stay competitive in their industry. Although some challenges need to be considered, the benefits of AI far outweigh them. So if you’re looking to improve your business, AI is a technology that you should consider.

This article was originally posted on Jack Nourafshan’s blog.

How To Maintain Professional Partnerships in Business

Maintaining good business relationships is key to the success of any company. Strong partnerships with other businesses can lead to new opportunities, increased sales, and a better reputation in the community. However, it can be tricky for businesses to maintain these professional relationships while still protecting their interests.

Working for a Common Goal

When both parties are working towards the same goal, it allows for better communication and cooperation, which leads to a more successful partnership. A common goal is a critical element in maintaining a successful business partnership. It gives both parties a reason to work together and helps bring all the various elements of the business into alignment. When both partners have a common goal, it allows them to use their strengths and the benefits they offer the other party more effectively.

Keep Communication Open and Honest

It is important to keep communication open and honest to maintain these partnerships. It will help ensure that both parties are on the same page and that any misunderstandings can get cleared up quickly. Partners can build trust and avoid any damaging conflicts by keeping communication open and honest. Besides, setting up a schedule to discuss business updates and communicate will ensure that both parties get informed on the status of their project.

Respect Each Other’s Time

Maintaining professional partnerships in business takes a lot of time and effort. It’s essential to respect each other’s time to ensure that both parties get the most out of the relationship. It means being punctual for meetings, promptly returning emails and phone calls, and not wasting the other person’s time with pointless conversations or requests. By respecting each other’s time, both parties can ensure that they make the most of their working relationship.

Learn from Each other’s Mistakes

It is a common opinion that business partnerships are hard to maintain and even break up. The truth of the matter is that partners can learn from each other’s mistakes which will help them stay on track, as long as they work together. Mistakes happen when partners least expect it; however, if two people make that same mistake simultaneously, they can talk out their problems and possibly develop a solution.

Bottom Line

While it can be tough to maintain professional partnerships in business, there are some things partners can do that will help. First, make sure both parties understand the goals for the partnership each party has set out for themselves before entering into a relationship. It is also important to have open communication about what’s happening inside and outside of work to avoid misunderstandings.

This article was originally published on Jack Nourafshan’s blog.