The commercial real estate industry, whether you are on the tenant rep, landlord rep or investment sales side, effective deal management is key to your success. And in today’s reality, the success of your CRE deal-making hinges on whether you have a solution that keeps you organized, helps prioritize leads, and tracks every stage of a CRE transaction.
That’s where AscendixRE comes in. Built specifically for commercial real estate, AscendixRE is a comprehensive deal management platform, with a strong CRM component, dynamic deal pipeline, centralized communication, and enhanced collaboration tools. In this blog post, we’ll explore the challenges brokers face with deal-making and how AscendixRE helps overcome those with its commercial real estate deal management toolset.
Every real estate deal is a small ecosystem that contains unique and valuable data. Due to its complexity, brokers often face the following challenges:
Let’s briefly run through each challenge.
Scattered data is the #1 headache that many CRE brokers complain about. Deal-related information is often spread across multiple tools and systems (like Excel, generic CRMs, project management systems, G Suite, etc.), making it hard to maintain a unified view of progress. This lack of centralization can lead to miscommunication between brokers, clients, and stakeholders, delaying deals and introducing costly errors. The impact on deal progress is significant, making it an urgent issue to address.
“ Before implementing Ascendix, I had to create different Excel reports for Tom so he could make projections and business decisions for the firm. It took too much time to gather the specific data from scattered systems. ”
Time-consuming manual processes also drain productivity. Manual spreadsheets update, sorting through email threads, or tracking of deal stages sounds very labor intensive and prone to human error, taking team members away from cultivating new relationships and finding new opportunities. Also, since there’s no automation, deadlines and real estate deal updates can slip through the cracks.
“ Before switching to AscendixRE CRM, our company used a homemade matrix in Excel spreadsheets and notepads for tracking inquiries. We filled out information about the various prospects and then used a color-coding system of red, yellow, and green based on how likely prospects were to proceed and how often our brokers should follow up. Excel spreadsheets and notepads worked for a while but it’s not a system the team could scale on. ”
Another common hurdle is the lack of access to real-time insights. To make informed CRE decisions, brokers require immediate access to deal statuses, financial metrics, various reports, property-related documents, etc. The absence of these real-time insights often slows down the workflows and leads to missed opportunities.
Managing multiple deals at once is another challenge that brokers try to overcome. Due to the increased number of portfolios, brokers often feel distracted about finding the proper information on time and tracking multiple deals simultaneously. Without a central system in place, the risk of losing vital information like deadlines or client preferences is high, leading to disorientation and slow CRE brokerage services.
Poor real estate deal management not only affects individual brokers but also hinders team collaboration. The lack of proper information about real estate deals makes smooth data exchange within a team impossible. This issue becomes even more urgent when a team member is absent and asks for your help, as poor deal management can lead to intense headaches.
Industry-tailored solutions like AscendixRE CRM are designed to address real estate deal management challenges head-on, arming brokers with purpose-built functionality.
So, how exactly does AscendixRE help?
Implementing a core CRM system into your business workflows can painlessly solve the problem of scattered data. AscendixRE CRM enables teams to track deal progress in real-time, link related entities like Listings or Availability, and streamline reporting. With its customizable dashboards and integrated tools, AscendixRE eliminates scattered data and improves visibility across all your deals (closed, ongoing, and potential).
“ The platform has helped us consolidate our contacts, accounts, deals, and capital sources into one place. This has increased efficiency and minimized hassle. The brokers and analysts are able to find the information they need in a few quick clicks. Every commercial real estate company should be using this platform. We could not be more thankful, and we are so excited that we made the right choice with AscendixRE. ”
Elimination of manual processes isn’t a buzzword. AscendixRE’ users have proven track records of increased efficiency due to automated data entry for real estate deal tracking. It makes special sense with the AI data entry customization that can be introduced as an add-on for AscendixRE CRM. With AI functionality users can extract data from any PDFs, images, or paper document scans and input it into the corresponding fields in the system.
However, if you’re not convinced by the benefits of automated solutions and AI, check our comparison table “Manual vs. Automated Data Entry.”
Managing multiple deals means keeping tabs with numerous deadlines and follow-ups. AscendixRE CRM offers automated alerts and reminders, minimizing the risk of missed deadlines and prompting timely actions. Brandon Vandermyde, Senior Vice President of NAI Excel, proves that:
“ AscendixRE has given me the ability to create follow-up reminders to reach out to former clients, which has been invaluable. I have been able to use that same dashboard to let me know which deals I have not been paid for. It reminds me every time I pull up my dashboards, which means I don’t let my hard-earned commissions slip through the cracks by forgetting to follow up with landlords who still owe. ”
AscendixRE’s real estate deal pipeline dashboards offer a visual representation of how deals progress through each stage. Brokers can see totals for each deal and the overall pipeline, as well as get potential revenues based on the current pipeline. Data is securely protected and cannot be shared without permission.
Advanced Dashboards for Deal Management | AscendixRE CRM
AscendixRE is fully cloud based which ensures that brokers have access to tools and data anytime, anywhere. Another highlight is that AscendixRE users can access their commercial real estate deals from their mobile screens which adds to the flexibility and user friendliness of the platform.
Cloud-Based Accessibility and Mobile App
AscendixRE users can leverage the expertise of Ascendix’s in-house support and AI development team to implement certain AI features as professional services. These add-ons, available for an additional fee, include features like document abstraction, automated data entry, an intelligent AI assistant, and more. The AI assistant, for example, can listen, understand commands, and initiate actions in the system. For example, it would be able to:
Schedule a call with our sales team to discuss how your brokerage can benefit from implementing AI functionality.
AscendixRE CRM is a trustworthy partner in deal management for all CRE experts. With AscendixRE, you can improve team-wide transparency and collaboration and make sure you’re making the right moves at the right time. Track all deal-related activities in one place.
AscendixRE is a trusted, reliable, and secure CRM solution with powerful real estate deal management features supported by an in-house Concierge Team.
If you’d like to explore how AscendixRE CRM can be configured to your specifications, feel free to contact us.
Kateryna creates engaging content about Salesforce consulting, Ascendix products, and CRM best practices for the commercial real estate industry and legal services. Her articles provide readers with relevant data, stats, business tricks and overviews of new industry trends and CRM updates.
(7 votes, average: 4.90 out of 5)
Loading...Explore how can you use AscendixRE CRM in your brokerage