What type of application does GIS have if you work in CRE?
I have open space in my class schedule and am debating taking a GIS class. What type of usefulness if any could this have if I work in CRE development or acquisitions after undergrad.
[{"id": "enr6jkz", "text": "I take it that\u2019s mapping right? Being able to navigate a GIS for zoning info, parcel descriptions, tax info etc can be useful when doing due diligence on a potential acquisition.", "replies": [{"id": "enr8aeu", "text": "Yes you are correct", "replies": [{"id": "enr8h1a", "text": "Great skill to mention in an interview but I wouldn\u2019t expect it to make or break getting a job", "replies": [], "depth": 3}], "depth": 2}, {"id": "entsp94", "text": "Valuation and Advisory I.e. commercial appraisals. It\u2019s in every report", "replies": [{"id": "entz2q2", "text": "Valuation and advisory, too. Every single report.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "enr76sz", "text": "Also helps out if you have a property you are selling and want to highlight major local retailers, roadyways, traffic counts, etc on a map.", "replies": [{"id": "enr8bzg", "text": "Thanks for the info", "replies": [], "depth": 2}], "depth": 1}, {"id": "enr7hvr", "text": "It\u2019s helpful on the office side for evaluating drive time analysis and heat mapping for where the optimal location might be for a company. We do this often typically based around employee zip codes.", "replies": [{"id": "enr8cxp", "text": "Appreciate the info", "replies": [{"id": "ens8mil", "text": "Any time!", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "enra1b6", "text": "Retail leasing and investment sales checking in.\n\nWe lean on our GIS team to produce void analysis studies showing us what tenants are not in the market, how far they are away from our new listings, etc. \n\nAlso helpful with heat maps, transportation/shipping routes, etc.", "replies": [{"id": "ensi1mu", "text": "Costar is launching this feature though and there\u2019s already a few platforms on the market that make all these things easy as pie to do?\n\nWho are you with that you have an entire department for something anyone can do after an afternoon of training.", "replies": [{"id": "enu176u", "text": "Costars solution relies on costar data though which can be a mess sometimes.", "replies": [{"id": "enu1efk", "text": "Oh ok, what data do you rely on?", "replies": [{"id": "enu1rtb", "text": "RCA for sales and ESRI BAO for demos. Costar definitely has its place but there are enough errors that I always have to double check sales comps with the county GIS sites.", "replies": [], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "enrhzot", "text": "As others have said: \n\nVoid/Gap analysis, customer demographic analysis for new locations, traffic counts, putting everything into a pretty picture...\n\nOn the user (tenant/buyer) rep side, I would say about 1 in 3 clients goes absolutely nuts for a well-made map. I would think the ability to use GIS to determine the optimal placement for a new development would be really, really useful. \n\nBut I've never taken a university GIS course, so I have no idea how applicable it is to business. Plenty of people with Geography degrees wind up in commercial real estate in some capacity, and most of the value in a Geo. degree is in the GIS training, so there's probably something to it.", "replies": [], "depth": 1}, {"id": "ens8f8x", "text": "Not sure you need a class on it, I bet most are just self taught messing around on it. \n\nTo answer your question though, I use the GIS on almost every deal I do for one purpose or another.", "replies": [], "depth": 1}, {"id": "ent9w41", "text": "Can you take an ARGUS class? May be more beneficial.  GIS is very useful for creating trade area maps etc. but like most said here there are many applications that make if very easy.", "replies": [{"id": "entjlcq", "text": "I would if they offered it. I just had free space and was wondering if I would ever use it.", "replies": [{"id": "entjtej", "text": "It definitely wouldn't hurt!", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "env9tvg", "text": "GIS is huge in appraisal, (I am a commercial appraiser). But if I were you I'd look at any finance, excel modeling, or other RE course. Not sure what the extent of GIS is in other firms large or small, I know CBRE has a bitchin GIS 4D contraption or something but honestly its mostly for research and used in the software development and systems use. But I could be off there just my experience.", "replies": [], "depth": 1}, {"id": "envd2mw", "text": "GIS is a very valuable tool that can be attractive to employers. I did the minimum to get by in my graduate GIS course and regret. Definitely a skill that can set you apart and help you in a number of fields.", "replies": [{"id": "envfzoi", "text": "What fields in particular do you think it is applicable?", "replies": [{"id": "enx43xt", "text": "Planning, development, possibly brokerage but would be a good skill set for you to have. Probably one of the few skills you will learn in school that can actually translate to the professional world.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}]