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BUSINESS SOLUTIONS
Dynamic CRM Options for a New Era
Robert Teel
Senior Vice President of Global Solutions
Yardi®
In line with everything else in commercial real estate, customer to anybody who needs it to complete a deal. Mobile access to
relationship management (CRM) has grown in scope, com- operational and financial data lets leasing agents finalize lease
plexity and importance in recent years. CRM is a multifaceted terms with potential clients onsite without returning to the office.
function that touches virtually every participant in the leasing cy- And fingertip access to comprehensive leasing information
cle, including leasing agents, asset
managers and third-party brokers gives brokers full visibility into
who manage a multitude of deal all leasing activities including
events ranging from upcoming the deal pipeline, vacancies and
lease expirations to marketing renewals. Integrating financial
campaigns. Everybody has a stake information into the CRM process
in minimizing lead-to-lease cycle allows sufficiently mature deals to
time and enhancing their ability be included in budget forecasts,
to do as much as possible in the along with the impact of those
time they have. deals once they’re completed.
In today’s business environ- This approach has been proven
ment, mobility is a competitive to increase revenue and minimize
opportunity for a commer- turnover times by shortening
cial property owner or REIT. leasing cycle times, revealing new
Everybody—leasing agents, bro- leasing opportunities, reducing
kers, tenants, prospects—oper- vacancies, and enhancing trans-
ates in an increasingly mobile world. The challenge in this milieu parency. For example, if you rent
is how to make the complexities of CRM more manageable and, an average 2,500 square feet at $37 per square foot, shortening
in the process, uncover new opportunities to grow revenue and the leasing cycle by three weeks for one lease would accelerate
portfolio value. $5,336.54 of additional rental revenue on that lease.
The leasing process is further shortened because information
In response, many commercial real estate companies are entered through an integrated CRM system doesn’t need to be
leveraging new CRM technology that makes real-time data about reentered into the property management system. And with no
available space, existing leases, encumbrances, budget, prior need to rush to the office, agents and brokers have more one-
rent, market rent and other strategic data points easily accessible on-one interaction in the field with tenants and prospects. This
through integration with their core property management and facilitates deal closures and establishes the foundation for a solid
accounting platform. This approach can shorten the leasing cycle relationship with a new tenant.
by tracking leasing throughout the process, from first contact to
final signing, and providing equal access to key information for Client Case Study
leasing teams, property managers and asset managers. Pyramid Management Group LLC, a Syracuse, NY-based manager
of retail-based, tourist and entertainment destinations, made
Complete Mobility its newly installed mobile CRM system a change agent across
Automated, fully mobile solutions can help leasing agents and its entire workforce by instituting it as the primary source of key
brokers quickly and accurately identify revenue opportunities by data for the company’s leasing agents. “Our previous technology
combining contact and prospect management with portfolio platform was homegrown and antiquated. There was no way to
health analytics. All pertinent information—including lease capture all the emails and documentation involved in one deal,
and lead tracking records, rent rolls, financial reports, property never mind all deals. We sought to replace multiple systems with
management data, contacts and correspondence—is available one system capable of capturing all information and tracking
8 Realcomm
