Commercial real estate professionals are a lot like handymen in that they always need to have the right tools accessible to do their jobs properly. Instead of a wrench or hammer, however, they might use tools like market data or critical date reminders. CRE brokers, in particular, can benefit from an arsenal of tools, with all of the properties and people they have to manage.
Let’s discuss what resources every CRE pro needs in his or her toolbox.
1. Accurate, Real-Time Market Data
Brokers are the eyes and ears of the market, and all that knowledge can serve a purpose beyond the peak of a deal. Having a tool that allows you to store and track your own personal market data means you can make more informed decisions and act quickly when needed. Additionally, it saves you from having to bounce between multiple systems at once.
2. Task Management
As a broker, you’re constantly prioritizing and juggling responsibilities. In addition to your own responsibilities, you have to think about individuals on your team and the tasks you both have to complete every day. Did you know that there are CRE tools that can help with this? With Quarem, for example, one of the many features you enjoy is a project summary portal, which lets you manage all types of activities, compare time and budget to projections and track key updates and milestones. If you’re overwhelmed by details or long email threads, this tool is a life-saver.
3. Critical Date Reminders
Automated critical date notifications = opportunity. There’s so much activity that happens beyond the initial deal, like renewals, expansions, and expirations. Staying on top of those dates will help you provide excellent service for your clients and saves you from constantly searching for new leads. Bonus points – you can use them to keep track of your own daily schedule.
4. Document Management
If you were a CRE agent, you might be able to get by with spreadsheets or physical files for your properties, but as a broker that task is a large one. With all of the properties, dates, team members and assets you have to think about, it helps to have a CRE tool that neatly stores, organizes and secures your documents. They should also be accessible from any device.
5. Reporting Software
There’s a lot of paperwork involved with being a broker. Space plans, proposals, and leases are just some of the many documents that move in and out of your inbox on a daily basis. Keeping them all organized can quickly become a tricky task. Having one place to securely store and organize your documents by lease, property, or client is a game changer. Some systems, Quarem being one of them, will even let you implement strict access controls with time/date/author stamping.
Quarem can provide all of these tools and more. If you’re interested in adding these to your portfolio’s arsenal, request a demo of Quarem today.