2012 is here!
2011 was a roller coaster year. It was better than 2010 but it wasn’t as great as everyone predicted. That is okay, better is good. As we start out this new year, I have found myself discussing commercial real estate tools a lot with other professionals in the industry. I guess people ask me because I am a CCIM Instructor and have an Electrical Engineering degree from Purdue University. Until now, I hadn’t given it any thought but I figured it would be a good topic for this blog.
I have three applications that are critical to my daily business. I think that they would be a great place to start. I will follow-up later with more tools that will help you out.
Let’s start with Site To Do Business or STDB.
STDB is an online demographic tool offered by CCIM Technologies, Inc. This company is the wholly owned for-profit subsidiary of the CCIM Institute. It is a market analysis tool that provides up-to-date information on demographics, psychographics, aerials, flood plains, traffic counts, business lists, mapping tools and information charting. I use this tool everyday and it is a mandatory staple of my business arsenal. My course, “How To Increase Your Fees Through Market Analysis‘ uses STDB to demonstrates practical applications of Market Analysis through case studies.
PlanEASE is another application that I am thoroughly in love with.
PlanEASE is an investment analysis software program. What I like most about it is that it was developed by CCIMs and follows extremely close to the CCIM investment analysis method. As a CCIM Senior Instructor, that is important to me. The application is modular and allows for the analysis of every type of real estate that is out there. Office, multifamily, retail, land or industrial. It allows for acquisition, development, disposition, leasing or lot sales. It provides excellent reporting that allows for visual and numerical display of your information. When I was in development, I received rave review of my development packages from my lenders. They stated that they rarely see clear and informative packages as they saw with mine. My packages were developed from PlanEASE reports. My course, “How To Increase Your Fees Through Investment Analysis with PlanEASE’ uses case studies to show how to analyse deals with PlanEASE.
REA is another mainstay for my business.
REA stands for Real Estate Assistant. REA is a Customer Relationship Management (CRM) product for commercial real estate. The power of REA comes two-fold. First, it allows tracking of both people and proprieties and the connections between them. Second, it allows multiple users to work with it at the same time and keeps the data up-to-date for all users. Laura can make a change at her desk and Alex will see them immediately on his. This allows for users to be located in multiple offices, locations, states or countries. The program allows you to track the leads of a particular property and prepare reports based on all the activities as well. REA is how we keep track of our revenue.
These applications are just the “tip of the iceberg” of technology that is available. Next week, I will talk about some other programs that will help you improve your business.
- CCIM Technologies Announces Strategic Partnership with AuctionPoint (prweb.com)
- Funds investing in commercial real estate have good year (usatoday.com)