Collaboration in CRE: How Technology is Empowering Collaboration Like Never Before
Turner Levison | June 1, 2017
Collaboration in the commercial real estate sector has always been important, but it hasn’t always been the easiest thing to accomplish.
In some cases, there were brokers who just weren’t sure what they wanted to use to keep track of everything. In other cases, there were brokers who were using pieces of technology to track their sales and leases, but who weren’t able to do everything they wanted in one place.
Both of those issues led to frustration and also to important pieces of information falling through the cracks, so agents and clients didn’t always get what they needed.
Why Is Collaboration So Important?
When real estate is selling or being leased, sometimes things move fast. Agents can be very busy working with a number of clients at once, and with that in mind it’s important to remember that everything has to be kept on file, in order, and advancing so closings happen when they are supposed to.
Brokers need a proper commission plan for every agent, and they also need a commission platform they can use to keep all of that information accurate and updated. Not every agent is getting the same deal, and that’s true of clients, as well. Collaboration is the key to a successful brokerage.
How Has It Worked In the Past?
In the past, there have been several issues with collaboration. Most notably, there hasn’t been enough of it.
This came from brokers who didn’t have the technology they needed, and from outdated platforms that weren’t able to handle the workload.
When only part of the equation can be addressed on one platform, and other parts of the equation are placed elsewhere, brokers, agents, and clients can easily end up with serious problems. There’s no room for things to get overlooked during a commercial real estate transaction, but that can and does happen when technology isn’t used properly and efficiently.
What Does Technology Have to Offer?
The biggest benefit technology has to offer today is the commission management platform. With it, accounting needs and commission structure concerns can all be handled in one place, along with a lot of other communication and important information. The more a broker uses this type of platform, the more they will see the benefits of it over and above what other types of platforms were able to offer in the past.
In short, it’s simply a much better and more comprehensive choice that wouldn’t have been possible without technology, and that is quickly becoming the future of commercial real estate.
With a commission management platform like Commissiontrac, you can have all your accounting and commission structure information together in one place, so you’re better able to track and plan everything for all of the agents that work for you. That also helps you keep your clients in the loop during their transactions, which is a very important way to help ensure current and future success.