How All CRE Professionals Can Benefit From An Extranet

Commercial Real Estate extranet

How All CRE Professionals Can Benefit From An Extranet

With so much competition in the commercial real estate industry, it’s important to stand out and differentiate yourself. When you’re speaking with a potential new client, or doing a listing presentation, you should include information that many other brokers won’t think to talk about. That’s where our commercial real estate software can help.

The Typical Listing Presentation

During a listing presentation, all decent commercial real estate professionals talk about how they are going to market the property using a variety of available resources, post a sign on the property and send postcards and email campaigns. They might discuss their plan to use professional photographers – maybe even drones – to take beautiful photos of the property for all of the marketing materials. You might have even caught yourself saying the exact same things during your last listing presentation. The truth is that most commercial real estate brokers are saying the same things at almost every listing presentation.

These aren’t bad things to discuss; in fact they are necessary and should be talked about. But the reality is that almost every broker does and says the same thing when they are speaking with a potential client and trying to get a new listing. That being said, you need to offer more than your competition to win a listing in today’s competitive market.

Stand Out With An Extranet

If you’re thinking “what’s an extranet?”, let me explain. An extranet is a private network that uses internet technology to securely share information with authorized people outside of your company; such as a client. You choose who you give access to and what information they can see. You can differentiate yourself and close your next listing presentation by letting the prospective clients know you are going to use an extranet to manage their project and everything associated with it, such as activities, documentation, emails, prospects, etc. Let them know that you will provide them with a login so they can access their property information and everything related to it whenever they want to see the latest update. Clients love this because they can access real-time information, 24 hours a day, without having to wait on you to send them a report. You will love this because it saves you a ton of time! It’s a win-win for both you and your client.

The Benefits of An Extranet

An extranet will add value to the brokerage services that you are providing to your clients, and help you communicate and collaborate more effectively with them. Some of the benefits of an extranet are:

    • Increased productivity. As you automate processes that were traditionally done manually some bottlenecks will most likely disappear increasing your company’s productivity. Important information won’t get lost on a sticky note or buried in an e-mail inbox. As busy as you are, you won’t miss or forget key events.
    • Flexibility. When you use an extranet to make information available to other team members and clients, everyone can access the deal information when and where it’s most convenient. This 24/7 access can free you from unnecessary meetings and games of phone tag. An extranet can allow you to provide information outside of regular business hours.
    • Timely and accurate information. On an extranet you can instantly change, edit, and update information in real-time compared to traditional paper-based deal management.
    • Build customer loyalty. Extranets make accessing data easier for your clients. The more you make timely, accurate information available to your client, the more likely you will keep them as clients.

Using an extranet does not guarantee you will win the listing presentation, but it certainly will help differentiate you from your competition. As your clients are becoming more sophisticated in their use of technology, you might find they start to demand this type of access and reporting features.

The ClientLook Extranet

Win more assignments by offering a whole new level of service with ClientLook’s version of an extranet designed specifically for commercial real estate professionals. Use Clientlook CRM to send your clients a traditional marketing report or go high-tech by offering access to a fully integrated collaborative war room. You’ll offer something for everyone. See how our software can help you win more deals and impress your clients by scheduling an overview or signup for a free trial.

About the Author

Keith Rudnick

Keith Rudnick - Professional Services Manager, ClientLook, Ltd.

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