Market, manage, grow, repeat. Managing your asset is a strategic undertaking requiring a solid sense of timing, attention to data, and keen observation skills. In a marketplace where the marketplace is often National – or at least fueled by National databases – portfolio management can be a daunting task.

The secret is to centralize your resources so you can expand outward with stability. Let’s get to know three main facets of effective portfolio management.

Control Your Resources

The goal is to be selective with your priorities in a way that doesn’t diminish your bottom line. This list includes your projects, properties, tenants, clients, property managers, and third-party vendors – effectively all of the human and binary resources required to maintain and operate your portfolio with the goal of optimising your returns.

Manage Contacts

Manage your CRM and contacts with purpose. This means embracing machine learning based automation that “learns” based on your communications and works to organize and manage your connections.

Embed Your Portfolio

Creating designated property pages goes a long way in consolidating information and documents, and giving prospective clients a portal to access everything they need to know. A broader approach is to embed your portfolio assets on your main website for easy access.

Audit

You wouldn’t be doing your due diligence as a company without auditing your site actions and client interactions. Auditing teaches you efficiency by providing data on your performance. Find a resource that can audit by date, time, and action in an easily referenced format. Auditing is also an advantage when managing teams and monitoring productivity without the unfriendly imposition of keystroke tracking. It can also give you valuable insight into client activity on your site.

Electronic Documents and Submissions

The elements making up your digital footprint are probably some of your most sacred resources, and definitely some of your most useful. When it comes to managing your portfolio, documentation takes center stage.

Electronic Submissions

We mentioned before that there are advantages to creating individual property or deal websites. This is why, ease of document submission. There is no point to having a platform to “manage your portfolio” if that platform cannot also be used to generate growth. Signing documents securely, submitting and receiving forms, and organization are all must-haves.

Dropbox Advantage

Versatility in communication is also a staple of portfolio management and a document repository is not only needed to facilitate the exchange of information, but to ensure that ease of information exists. There are many excuses for not following up, completing documents, or updating processes – you don’t want to create any scapegoats in the transfer of documents.

Data Security

Data security is a more modern topic in relation to portfolio management and it comes with a few other supportive words like; encryption and backups. This is becoming a bigger topic both with individuals and companies as more and more of our business is conducted online and remotely. This is definitely not an area where you want to cut corners.

Enterprise Solutions

The reason portfolio management exists is to generate growth in a predictable and manageable way. Eventually, you will get to a point where Enterprise solutions become a necessity. Here’s what that entails:

Domain Mapping

Think of domain mapping in terms of teleportation. Maybe it sounds a little futuristic but essentially domain mapping is like a controlled directory which allows you to point domains, subsites, and subfolders to your main hosting account and it lets you easily conduct visitors from one site to another; say between an individual property site, to a deal portal, to your main portfolio page.

Branding

From your marketing materials to your web presence, we all know the power of effective branding. Taking it a step further, let us introduce you to the concepts of white labeling and brand matching. White labeling is the process of using your own marketing on other products or assets, and brand matching is a compatibility makeover that ensures your templates, logo, mission statement, and digital presence are all aligned and clearly conveying your purpose.

Branding plays a lot into portfolio management because quality branding builds trust and establishes your company in your client’s memory. Positive association is very powerful when determining who you want to do business with.

Company Management

The trend when discussing portfolio management is pay attention to the details, and use data to improve performance. The same practice applies to the management of your team and day-to-day operations. We’re including team management in this post because your internal interactions and practices have a major influence on your external outputs.

Team compatibility and communication is the main point we want to bring up. We mentioned earlier that ease of access with documents and multiple channels of communication were necessary for asset management and growth. The same is true for the health of your team and for the important tasks they perform:

• Reporting
• Emailing
• Sales
• Leasing
• Property management
• Database management
• Marketing

There are many moving parts and small, intricate pieces that must come together to control and grow a portfolio. Coming back to our first point, centralizing your operations and focusing your intentions gives you a clear point to grow from.

Have questions about portfolio management? Reach out today to learn more or schedule a RealDash demo!