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Hayim Mizrachi Uses RealNex to Streamline CRE Tasks
In our continued effort to better understand the needs of our clients, we sat down recently with Hayim Mizrachi, President of the MDL Group, a Las Vegas CRE Brokerage and Property Management Service. Our talk focused on Mizrachi’s take on CRE tech tools and what he sees as their most significant benefits.
The MDL Group offers a wide range of services to institutional and private investors, property owners, sellers and tenants on a local, regional and national level. Some of these include tenant prospecting and retention, marketing, rental rate analysis, lease negotiations, buyer and seller representation, and site selection, among others. The company’s services cover a lot of ground, and they need tech tools that can come along for the ride.
Ideally, these tools include features created especially for CRE. Mizrachi notes that this type of platform has become a hot topic in the industry in the last year or two:
“The biggest recent change I see for tech in CRE becomes apparent at industry conferences. For some time there have been panel discussions on various tech platforms, but in the last 12-18 months, those panels are no longer about using LinkedIn or Facebook. Instead, they are now talking about CRE-specific solutions.”
His comments hit on an important point. In 2014, $605 million was invested in startups focused on developing platforms and apps specifically designed for the real estate industry. That’s up from $241 million the year before. The last quarter of 2014 set a record: 32 real estate tech companies raised nearly $300 million in that period.
Technology for CRE can address a multitude of tasks and challenges, including property management, research and analytics, listing services, mobile applications, and lending.
The fact that there are so many disparate concerns in the CRE business was what led Mizrachi to adopt RealNex. He knew his business needed a CRM, but wanted a solution that could cover the entire office, to “make the whole greater than the parts.”
Being able to work in many different areas via one platform is key to streamlining your work, according to Mizrachi. He recalled that before adopting RealNex, the company was using separate tools for different tasks:
“Before RealNex pulled these companies together there were separate log-ins and passwords. The data was all separate. Now I can be working in the CRM, pull up a rent roll, publish a listing all from the same place. And the value is exceptional. This has really streamlined my business.”
Another benefit of an “all-in-one” solution like RealNex, according to Mizrachi, is cost savings:
“Where RealNex has done a great job is that it delivers a complete solution at a great price. You have to have a CRM, you have to have software to do analysis, you have to have a listing site, and RealNex has those tools in one spot and for a great price – you are saved from paying separate subscription fees.”
Technology tools built specifically for CRE that integrate a range of tasks and services AND provide added value –these seem to be what the industry needs. We’re glad to know we’re on the right track.