There are so many programs, services, and apps aimed at commercial real estate brokers that it’s hard to know which are useful and which aren’t. Thankfully, we have compiled a list of 10 technologies that will give you an edge as a commercial real estate broker. These apps have been proven to work for many brokers, however, it’s best to try them and find what suits your working style.
10. Visual Lease
Visual Lease may be the most innovative and unusual program on this list. It is designed to facilitate the management of multiple leases for brokers and portfolio managers. It is best suited for extremely large portfolios, and most who use it have dozens of properties to manage. It lets you know exactly what you need to do and when for each lease that you have. Visit Visual Lease Website.
9. Lease Matrix
Lease Matrix is a program dedicated to analyzing leases. Many brokers have tried and discarded multiple lease analysis applications due to the evolving nature of commercial leases and the questionable effectiveness of most analyzing programs. However, Lease Matrix is the best in the business. Its web-based platform means that all of your data is saved in the cloud and the program can be updated quickly and easily. Visit Lease Matrix Website.
8. The News Funnel
This website is a little bit different than other sites and programs on this list. The News Funnel is a news aggregator for all real estate. You can filter the results by “commercial” if you so choose. Staying on top of everything that is happening in this fast-moving industry is always a challenge, but The News Funnel makes it considerably easier. True to its name, it funnels news from thousands and thousands of sources into your custom-fit news feed. See the News Funnel Website.
LandVision is often compared to Google Maps, and it’s easy to see why. It has extensive aerial maps tailored to commercial brokers of all specialties. It’s easy to view property info and find properties with the user-friendly interface. Many brokers use LandVision for presentations and site selection. Visit LandVision Website.
LoopNet is the most popular site in the industry, and any such list would be incomplete without it. It has more traffic, a greater number of members, and covers more areas than any other listing company. Every broker needs to have their listings on this site, or they will be losing a great deal of visibility. More consumers search commercial listings with LoopNet than with any other listing service, and this does not look to change in the near future as LoopNet has only grown in popularity. Visit Loopnet Website.
ProposalNet is geared towards brokers that specialize in tenant representation. It is a representation management software program based in the cloud. It manages and automates the tenant rep transaction process and saves related data in well-organized and clearly labeled file storage system in the cloud. As with all data saved in the cloud, it is available anytime, anywhere with any device. This convenience is why many of the programs on this list are cloud-based. Visit ProposalNet Website.
Apto is the go-to CRM for most brokers in this corner of the market, and it’s easy to see why. It is known for being a cloud-based platform and for being quite versatile. It was designed by people who formerly worked in commercial real estate, which explains its intuitive user interface. Most CRMs are fairly difficult to use, even if you’re experienced with this sort of software. This is not the case with Apto. It is known for its ergonomics, and it definitely lives up to this reputation. Visit Apto Website.
Compstak is unique amongst marketing software in that it uses a crowdsourced system. It is commonly utilized by managers, brokers, and investors. Compstak provides lease and transaction data that can give the broker the upper hand in negotiations. As with the healthcare data provided by Revista, the data on tap from Compstak was traditionally quite hard to find. Now, it’s as easy as a few clicks of a mouse. Visit Compstak Website.
Revista is targeted towards the healthcare real estate sector, but if you’re a commercial broker it’s almost a guarantee that you’ll have a healthcare client from time to time. Revista provides data, networking opportunities, and industry info aimed specifically at healthcare. This sort of info was notoriously difficult to find before Revista came onto the scene. Now, it is as easy to find as any other information. This is especially vital considering the increasing percentage of the commercial market that healthcare comprises. Visit Revista Website.
The Costar group is the leading provider of analytics and information in commercial real estate. If you’re a commercial broker, you no doubt already know about this firm. However, it is easy to take them for granted and assume they’re overrated. Don’t make this mistake. Visit CoStar Website.
Honorable Mention: DocuSign
DocuSign allows for fast and secure electronic signatures. Storing and sending documents are a breeze as they can be transferred through the app or through email. With specific plans for commercial real estate brokers, documents can be easily customized for your business. Visit the official DocuSign.
So, I’m Set for Life With These Programs, Right?
There is a huge amount of amazing technology available for real estate brokers in this day and age. This dynamic has its positives and negatives. It means that brokers must work very hard to stay on top of the changing industry. However, it also means that brokers have tools at their disposal that no one could have even thought of 10 years ago. No one knows what the commercial industry will look like in 10 years, but it will certainly be very different than the industry today.