While I have been developing MYRETA for our CRE industry, I really take a lot of time to be sure the platform will perform as you need it to. One of the areas that I focused on early in the process and continue to get feedback on is the indirect market of your properties.
No matter if you think everything is correct and up-to-date, how do you know unless you can see the data? So where do you go to check your available space to lease, the deals you are selling or if the debt and/or equity campaigns you are marketing are right? I know when I owned properties, I made sure everything was exact before I left for home every day.
What I have learned while questioning the tenant reps, tenants, buyers, lenders and equity sources is that they continue to look for deals after hours and if your deals aren’t in the different services you use or if the information is wrong when they do their search, you are OUT, and you don’t even know you lost a deal!
Here is an example. Let’s say Ms. Big tells Mr. Medium to pull data for a meeting she forgot they had the following morning and then has to leave the office. Mr. Medium then goes down and tells Mr. Little the same thing and then leaves as well. That leaves Mr. Little to pull the information needed, get it in order and have it ready to be bound the following morning for the meeting.
Mr. Little pops open several databases looking for six or so deals that match the criteria he heard from Mr. Medium and from Ms. Big. He finishes the search and then he goes home. Now I know that some of you are saying, that’s not how it works here. I am Ms. Big, Mr. Medium, Mr. Little and the binder of the book!!!!
Anyway, I think you get the idea. If you are marketing what they are searching for and your information is either incorrect or hasn’t been posted, you just lost a deal that you will never know about!
Shouldn’t you be able to go to one place to see what is at all of the different services and your website? I think so. Otherwise your information may be different in different places. You should be able to put the data in once and know it will be pushed to all of the services immediately, including your website!
Email me if you want to get started doing this. MYRETA already has multiple firms using this feature. BTW, it is FREE!!! You put in data for free and others can see it for free and contact you.
Photo Credit: clipartpanda.com “Such a Vivid Imagination”