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QUIZ: How Tech Savvy Is Your Brokerage?

New York Technology
New York Tech
February 28, 2017 Apto Lindsey Benfield, Bisnow

How modernized is your company on a scale of 1-10? Are you up to 2017 tech, or are you stuck in the 80s? Take our quiz to find out!

1

How do you manage customer relationships and keep track of contacts?

Notes on my smartphone
Dedicated contact management software
Pen and paper and the occasional Excel spreadsheet

YOU'RE CORRECT!

While many commercial real estate brokers still use spreadsheets or old-fashioned pen and paper to manage customer relationships, it is one of the least efficient methods for doing so (aside from keeping a handwritten chart!). As your client base expands and your business with it, software specifically designed for keeping track of properties, clients and prospects — and the relationships between them — can make the difference between being an old-fashioned brokerage and one on the leading edge. And who do you think your clients would want to do business with?

YOU'RE WRONG!

While many commercial real estate brokers still use spreadsheets or old-fashioned pen and paper to manage customer relationships, it is one of the least efficient methods for doing so (aside from keeping a handwritten chart!). As your client base expands and your business with it, software specifically designed for keeping track of properties, clients and prospects — and the relationships between them — can make the difference between being an old-fashioned brokerage and one on the leading edge. And who do you think your clients would want to do business with?

2

How do you research your market and manage your data sources?

Online research tools and data aggregation platforms
Physical pen and paper
I don't do any research.

YOU'RE CORRECT!

There are plenty of data aggregators, research tools and websites out there. And a good thing, too, because there's a lot of expertise needed to succeed in any given market: intel on new construction and developments, sales and lease comps, vacancy data, etc. You can start with the basics — Xceligent, CoStar, Realquest — and then find more specialized information from there. Check a few of them out here!

YOU'RE WRONG!

There are plenty of data aggregators, research tools and websites out there. And a good thing, too, because there's a lot of expertise needed to succeed in any given market: intel on new construction and developments, sales and lease comps, vacancy data, etc. You can start with the basics — Xceligent, CoStar, Realquest — and then find more specialized information from there. Check a few of them out here!

3

What does your marketing platform help you do?

Targeted email marketing
Cold calling, social media and targeted email marketing
I don't have one.

YOU'RE CORRECT!

Email campaigns and cold calling are still effective methods of maintaining clients and reaching prospects, but it is not enough to simply bombard recipients with random email blasts. Services such as Mailchimp and Buildout (which is specific to commercial real estate) allow you to seamlessly blend the daily operations of your practice with targeted, personalized and comprehensive email campaigns aimed at qualified buyers. Paired with an effective social media strategy — keeping a regular blog and posting digestible news bites through daily tweets and LinkedIn posts — email can boost your brand and help strengthen bonds with clients.

YOU'RE WRONG!

Email campaigns and cold calling are still effective methods of maintaining clients and reaching prospects, but it is not enough to simply bombard recipients with random email blasts. Services such as Mailchimp and Buildout (which is specific to commercial real estate) allow you to seamlessly blend the daily operations of your practice with targeted, personalized and comprehensive email campaigns aimed at qualified buyers. Paired with an effective social media strategy — keeping a regular blog and posting digestible news bites through daily tweets and LinkedIn posts — email can boost your brand and help strengthen bonds with clients.

4

How do you organize and manage your documents?

Hard drive storage
Paper archiving
Cloud storage

YOU'RE CORRECT!

The days of editing and emailing important documents back and forth are long gone. Isn’t it better to be able to review, update and approve documents live, without having to send a new email each time you make an edit? Tools such as Google Drive and Dropbox are perfect not only for securely saving documents but also because they allow multiple people to make changes live. Looking for something a little more specialized? Check out virtual data rooms specifically crafted for CRE here .

YOU'RE WRONG!

The days of editing and emailing important documents back and forth are long gone. Isn’t it better to be able to review, update and approve documents live, without having to send a new email each time you make an edit? Tools such as Google Drive and Dropbox are perfect not only for securely saving documents but also because they allow multiple people to make changes live. Looking for something a little more specialized? Check out virtual data rooms specifically crafted for CRE here .

5

How do you manage your invoices and accounting?

Calculators and prayers
Dedicated CRM platforms with accounting functionality
Notebooks and filing cabinets

YOU'RE CORRECT!

The more sophisticated the account system — and the more tailored it is to commercial real estate — the happier the company and its brokers. Some CRM platforms, such as Apto, even arrive with accounting functionality built in, helping brokers streamline their operations into one convenient, secure and easily accessible virtual location.

To learn more about this Bisnow content partner, click here.

YOU'RE WRONG!

The more sophisticated the account system — and the more tailored it is to commercial real estate — the happier the company and its brokers. Some CRM platforms, such as Apto, even arrive with accounting functionality built in, helping brokers streamline their operations into one convenient, secure and easily accessible virtual location.

To learn more about this Bisnow content partner, click here.

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Contact Lindsey Benfield at lindsey.benfield@bisnow.com