How Rethink Can Help You Deliver a Better Client Experience
Have you ever wondered why some brokers have more clients than they know what to do with, while others are scraping and clawing to put together any deal they can find?
The difference is the client experience.
When a broker offers a higher level of service and insight than their competition, they develop a loyal client base that leads to repeat business and referrals.
So, how do you offer that level of service and insight?
Fortunately, Rethink — the dealmaking platform purpose-built for commercial real estate — can help.
In fact, Enterprisetechsuccess recently included Rethink in their Top 20 CX Solution Providers 2020 list.
Below, we’ll cover how Rethink can help you offer a client experience that has people clamoring to work with you.
1. Keep key tasks from falling through the cracks
When it comes to how Rethink helps his firm provide a better client experience, Jason Crimmins, President of The Blau & Berg Company, stated it simply:
“Nothing falls through the cracks,” he explained. “That’s incredibly important.”
Rethink keeps users on track with Action Plans that identify who’s responsible for certain tasks and how they’re progressing.
“I’m using the Action Plans so I know what’s next and what I need to do,” said Ralph Balber, President of ALO Property Group. “I get reminders that say, ‘Hey, Ralph. You have to make this call,’ or ‘Hey, you need to send this email out.’”
2. Increase your market expertise
One of the best ways to improve the client experience is to increase your market expertise.
When you understand the personalities and trends in your market, you can help your clients navigate potential pitfalls and identify the perfect deal.
Rethink helps users like Chloe Strada, head of the strategic advisory program at Cushman & Wakefield – Tampa’s Self-Storage Group, more easily identify how the market is behaving.
“Because we’re tracking our deals from the time they’re a proposal to the closing, we’ve been able to see what our list price to close price ratios are, which types of deals are sitting on the market for long periods, and how cap rates change,” she said.
Rethink also helps Chloe and her team manage difficult conversations that sometimes arise when clients have a difference of opinion on price.
“Sometimes, people have unrealistic pricing expectations,” she explained. “When we can come to them and back up our recommendations or underwriting with proof from our own deals — rather than some third-party self-storage report — it improves our credibility.”
3. Track critical client information
Tracking the right information is key to providing a high-level client experience.
You need to know how you’ve worked with your clients in the past, what you’ve worked with them on, their likes and dislikes, and most importantly, their requirements.
But when you rely on outdated tools like Excel, it’s difficult to keep up with everything.
“If you’re tracking information on a spreadsheet, you’re not going to be able to find or remember that information later,” said Keanan Halla, Director of Information Systems at Trinity REIS. “If you only have one or two clients, you can do it, but if you want to be successful, you need to be able to quickly view your client’s record, see what properties they own, and what you’ve worked with them on in the past.”
Fortunately, Rethink offers a centralized database to track, store, and easily access the information you need to provide an incredible client experience.
“Rethink allows our brokers to better serve their clients. It allows them to keep all their notes and property/client information together in one place,” said Susan Rich, Executive Administrator and Marketing/Graphics Manager at NAI Glickman Kovago and Jacobs. “It also allows the company leadership the ability to track the status of each listing or deal.”
And Rethink’s solution is scalable, so you can continue to provide world-class service as your firm grows and deal volume increases.
“We’re working on more than 75 deals at a time between proposals, listings, and deals we have under contract,” said Chloe Strada of Cushman & Wakefield — Tampa. “There’s no way we could keep track of everything we’re doing without Rethink. There’s just no way.”
4. Stay organized and productive
When your firm is disorganized, brokers and staff have to scramble to get their work done, preventing them from giving the client experience the attention it deserves.
Fortunately, Rethink keeps your firm organized and automates key workflows so users can focus their time and attention on wowing clients.
“The life of a broker is pretty hectic, so it’s important that they have the right tools to track everything and finish a deal easily,” said Luke Majewski, sales team coordinator at WCRE. “Rethink provides easy access for our brokers to have all the information they need for their clients. It helps streamline the process of tracking deals, getting deals done, monitoring where the process is, and what needs to be done next so you’re not scrambling to figure it out.”
And according to Nathaniel Korn, President of IMAIM CAPITAL, having that extra time translates to a better client experience.
“Using Rethink allows us to be more productive and efficient, and naturally, that spills over to our providing better service,” he explained. “We have more information and better answers.
“For example, with tenants, we provide better service because we document issues and respond faster, and the information in the system allows us to communicate more effectively and provide a better solution,” Nathaniel added. “From an investor standpoint, Rethink allows us to provide operational metrics and transparency on the business.”