You’ve probably heard the saying “People are the most important asset of any company.” Sure, that’s something everyone can agree on. When a team works together, great results can occur. In CRE, that means deals get done faster and easier.
Today, there are many moving pieces in a CRE deal. While Fortune 500 companies may be creating unique spaces featuring everything from coffee bars to tiki bars to bring people together, reality is that people are on the move.
How can your organization build a team that uses technology to collaborate and accomplish great things – even when everyone may not be in the same place at the same time?
Use a company CRM
Brokers are sometimes hesitant to share information in a CRM because they feel a sense of ownership over their relationships, but the benefits of centralized information almost always outweigh the risks. From the firm’s perspective, it allows management to view pipelines and understand progress on both an individual and a company level. That allows them to forecast more accurately and make better business decisions.
From the broker’s perspective, sharing information gives you a more robust database and understanding of the market to work from. You have more comps, more potential contacts and more property information—all of which allows you to provide more value to your clients.
Not convinced? Most CRM software allows you to set permissions on who can see and edit which section, so it’s possible to reap the benefits of a centralized system while protecting some of your most valuable data. For example, a coworker can see that you have a relationship with someone they are pursuing, but they can’t see your notes on that relationship without reaching out to you first.
Lease transaction team collaboration
As an owner or developer of commercial real estate, you are constantly issuing lease proposals for the leasing of existing projects or for build-to-suite development. When working with colleagues on getting a deal done, sharing information is a necessity. Using a lease transaction management tool can help your team standardize, manage, and automate the proposal and counter-proposal process.
3 ways technology can help teams collaborate on CRE deals
1. Collaboration naturally creates accountability. Everyone can get reporting instantly on their dashboard, brokers and management alike. Spend less time reporting while gaining greater insight into deal metrics for everyone.
2. Collaboration helps us be more productive. Teams of brokers, owners, and tenants can work simultaneously on deals, all with constant admin support. Collaboration get your CRE deals to the finish line faster by maximizing collaboration while minimizing delays and redundant data.
3. Collaboration shows how much you value clients. Keeping external clients up to speed has never been easier. Using a lease management tool like ProNet gives the team direct, instant access to collaborate on proposals/offers, with instant dashboard metrics into any activity relevant to their project. Form tighter relationships with your clients without bogging your team down with reporting.
When teams use technology to collaborate, they can reduce the volume of paperwork and manual processing involved in leasing and sales transactions. Deals get done faster. Everyone’s happy. High five team!
Ready to see how your team can be more efficient, effective and productive with a collaborative tool such as ProNet? Schedule a demo today!