CRE technology seems to be changing almost every day. From mergers and acquisitions to new startups hitting the market, it can be tough to keep track of all the major players and what each of them actually does. That is what drove us to put together this helpful guide defining best of breed technology for CRE professionals. Each of these companies have made their mark on CRE in a different way but all of them share REthink CRE’s goal of helping brokers close more deals in less time.
In case you hadn’t heard, VTS and Hightower announced a $300 million dollar merger just a few days after Thanksgiving. Both of these cloud-based portfolio and leasing management platforms have seen huge growth over the last couple of years and combined the best feature subsets from both platforms under one hood. Brokerages that manage large databases of properties and deals have found significant value in consolidating all of this data into one tool.
This Chicago-based marketing platform was developed especially for CRE. It provides all the tools you need to produce and publish professional, customized marketing content with a minimum investment of time. The site makes email marketing a breeze, and allows you to incorporate informative maps and demographic details without ever leaving the site. The real advantage Buildout brings to the table is the ability to enter information once and immediately update marketing emails, collateral, and even some third party listing sites.
Similar to Buildout, Property Capsule makes it easy to enter and update listing information for each of your properties all in one place with the added advantage of automatically pulling in stats and research about that listing. From microsites to print collateral, this platform eliminates a lot of the “busy work” that can slow brokers down. Their promise to help brokers “close more deals in less time” is admirable, and certainly a mission REthink CRE can get behind.
RealMassive is an open and connected Commercial Real Estate marketplace that delivers access, exposure and insights to professionals looking to modernize the industry. Listings on RealMassive are thorough, yet are presented in a slick, professional user interface and include nearly five billion square feet of office, industrial, and retail space. RealMassive helps professionals streamline their marketing efforts while gaining critical insight into the performance of their assets. Users gain access to accurate listings through intuitive market research, property analytics, and client collaboration tools.
This platform allows brokers to search thousands of commercial office properties by size, location, and price in almost every major market in the US. Listings include high quality photos as well as all the basic information a tenant would want to know about a space. 42Floors also includes listings for brokers that can be searched by market. This can be a great resource for newer brokers who are still working to grow their client base.
Data and Analytics
CompStak offers thousands of comps for office, retail, and industrial leases. The site is completely free, and relies on a crowdsourcing approach. Users exchange comps for credits, which can then be used to get access to comps they need. Uploading comps is anonymous, and the CompStak analysts diligently verify listings to ensure they are current and accurate.
This is a market intelligence platform that helps CRE professionals close more deals by providing convenient access to internal and external data. REscour integrates both public and proprietary data from a variety of sources into one centralized database that is easy for brokers to access. Larger brokerages that heavily invest in proprietary research and maintain large databases of properties could find a resource like this invaluable.
If your brokerage doesn’t have the luxury of a high volume of inbound leads, a platform like Reonomy can be a powerful solution. Instead of just providing information about what company owns a certain property, Reonomy gives information on the individuals that are the actual decision makers for that property. New brokers who are still building their client base should take a hard look at a powerful prospecting tool like this one.
What sets ProspectNow apart from other prospecting platforms is the predictive analytics it applies to the data it manages. Because of the massive volume of data ProspectNow has access too, they are able to help brokers find properties before they officially hit the market. Getting a head-start on the competition could be a huge advantage for brokers who are hungry to find new business. This is a great example of “big data” being leveraged in CRE in a practical way to help brokerages close more deals.
There is a lot to be said about how to figure out which technologies your brokerage needs and how to implement them. But as you weave your way through the process of modernizing your brokerage’s toolkit be sure to never lose sight of your ultimate goal: finding platforms that help your brokers close more deals.
REthink is ready to help you take the first step in modernizing your CRE technology, click here to start the conversation.