There’s an expression, too many irons in the fire, that starkly illustrates the potential pitfalls of juggling multiple properties and assets. It’s an old blacksmithing phrase, trying to heat too many irons at once will cool the fire. The beauty of asset management is that it automates your irons, letting the fire stay hot.

The benefits of using a CRE Asset Management software is the ability to optimize your success and power your organization, big or small. Offerings like a single portal that streamlines your business just make business simpler and easier.

Here’s six quick reasons to onboard your business with Asset Management Software.

Discover

Sourcing assets is a big part of creating a healthy sales flow and the truth is, a lot of the research and indexing can be automated using national listing databases. An asset management platform should be a full cycle service, from finding to finalizing.

• Research – access to information from external companies and organizations in addition to national listings and publications.
• Connect – Locate and prioritize contact information inclusive of deal preferences and asset history.
• Reach – sync with your target buyers, tenants, lenders, and property managers through your asset platform. All in one place!

A big part of discovery is engagement; locating an asset is key but engagement is the foundation for retention. Which assets should you engage? This is where evaluation comes in.

Cost Evaluation

Metrics matter. One of the most measurable advantages to an inclusive platform is the ability to track asset performance and make projections and correlations regarding cost and market value.

When determining leasing agreements and transactions, key performance indicators are indispensable as validation for financial decisions. Bonus? These KPIs can be used across marketing campaigns and sales.

Recording assets is also usually a regulatory compliance necessity making the accumulation and organization of your critical metrics and analysis data a standard business practice. Why not make it easy?

Documentation Management

This topic is two-fold.

1. Managing commercial real estate transactional documentation; leasing agreements, contracts, verifications, and preferences is made easier from a centralized hub that is accessible across devices, and across town from the office.
2. Marketing Materials. Marketing is collaborative so team management is getting bundles into this point as well and that means having the ability to delegate but also to track your team’s efforts. Look for a management platform that:

• Can handle multiple user accounts with varying permissions
• Assign and track tasks
• Generate templates for branding synchronicity
• Launch and manage email campaigns and social media

Documentation needs vary from your site and marketing content to your legal language and email templates, and not all documentation is created equal. Prioritizing materials from correspondence to reporting is easier within a connected hub.

Track Asset Activity

Tracking extends beyond analytics into organization. Tools like the option to create independent deal websites help to manage a single property’s documents, sales trajectory, rent roll management, and targeted marketing efforts. Take it one step further with embedding options to highlight individual properties on the most trafficked pages of your site.

On the back end, combine your property information including site plans with metrics and funnel your singular assets, (or grouped) into customizable reporting for full transparency to your clients, stakeholders, partners and investors.

Data Maintenance

Data management is all about your internal systems, including regular audits of your data, analytics, and asset database. An advantage to using a cloud-based management platform is a lot of the backend maintenance is done for you via regular updates and the benefit of an experienced body supporting your technical presence.

Also, make sure your asset management solution comes standard with easy to navigate dashboards that make it easy to reference data quickly and easily. Your asset management software should simplify your efforts and your team’s efforts.

Generate Revenue

Last on the list but likely first on your mind, generating revenue. An asset management platform can greatly influence growth by intuitively generating projections based on your collected data and analytics.

In a few easy steps, enter an address and generate deal portals, reports, and marketing templates. Interpret market trends based on widespread research and access to larger pools of data, and develop a trackable portfolio that supports the development of your enterprise.

What Do You Think?

CRE Asset Management platforms are constantly evolving based on the needs of the market, (yet another reason to go cloud-based instead of relying on independent legacy software). As national directories expand and commercial needs evolve, what do you want to see out of your asset management platform?

Growth doesn’t just apply to business expansion and revenue generation, it applies to your software solutions as well. At RealDash, we create interactive platforms to support the building of your business from your websites to your brochures. Reach out to us to schedule a demo and give yourself a competitive edge with a software solution that evolves with your needs.