On September 23, 1962, TV viewers of all ages journeyed to the futuristic Orbit City. Here, they met one of the most legendary families in TV history, The Jetsons. Viewers were given a glimpse at the charming possibilities of tomorrow, like floating buildings and flying cars, and some groovy inventions that actually exist today, like smartwatches, video chatting, and 3-D printing.
Though the show only aired for one season, The Jetsons still remains an iconic symbol of our vision of a dreamlike future and the technology that comes along with it.
Compared to the day we got to “Meet George Jetson,” technology has rapidly advanced and left its impact on our processes and business practices. Take the commercial real estate industry, for example – sure, our buildings don’t float, and we can’t fly to work, but advancements like digital signatures and “smart” buildings have transformed our interactions and business cycles.
For brokers, these advances have allowed for a more proactive approach to client relationships. So, fire up your jetpack and join us as we discuss the future of consultative brokerage and the tech tools that help make it possible.
Consultative Brokerage
Before we jump into the technology, lets discuss the mindset that is consultative brokerage. The way I like to think about it is like this: The reason that organizations look to brokers for help when it comes to things like finding space and negotiating leases is similar to why people go to the dentist or get their car worked on by a mechanic – they are experts in their field and possess specialized skills that they earned through years of school and work experience. Sure, I know how to brush my teeth and there are few things I can do to take care of my car at home, but at the end of the day my knowledge is limited.
It’s important for brokers to cultivate relationships with guidance in mind. Just like with mechanics or doctors, the relationships are constant. As the broker, you get to be a strategic member of an organization’s team with the help of corporate services.
Corporate Services and Technology
We’ve discussed the shift towards corporate services, but what exactly does that look like? The base of corporate services is sophisticated and collaborative technology. For brokers, CRE software is a home base – it allows you to track your own personal market research and projects, while also providing a platform for individual customer portals. The customer portals cover features like:
- Lease Administration
- ASC 842/IFRS 16 Lease Accounting
- Critical Date & Options Management
- Dashboard & graphic analytics with mapping
- Centralized & Available Document Management
- Timely and detailed reports
Just like it makes sense for your mechanic to have access to the maintenance history of your car, it’s pretty handy for a broker to get a full picture of their client’s real estate. So, the next time an option notice date arrives, or a client is looking to expand, the history is right there organized and ready for the broker to use their expertise to analyze the next move.
A Checklist for Getting Started
- Establish a committed corporate services team with specialized skills in the areas of lease abstracting, finance and technology. Additionally, consider expanding your team to include industry specific specialists.
- Develop a written process & set of core services in tandem with corporate users.
- Attend educational events or trainings that will keep you up to speed and in line with the industry.
- Ex. ASC 842/IFRS 16 compliance courses
- Establish your brand as a resource by publishing and sharing helpful content
- Ebooks
- Guides
- Videos
- Partner with necessary technology vendors, like Quarem. Our cloud-based platform supports collaboration and offers expert lease administration, deal & project management, FF&E tracking, detailed reporting, custom critical date reminders, and secure document management.
Ready to take the next steps with customer portals? Schedule a live demo of the software with a member of the Quarem team today.
