Busy real estate investment teams need to be able to log, manage, and accept or reject introductions quicker than ever before – if they want to be at the front of the queue for the best deals on the market.
Technology can empower you to achieve your goals quicker and more efficiently. Let’s look at how Coyote Software helps in this instance.
Logging all opportunities
We aren’t suggesting that you only record the deals you’re going to pursue – logging every single opportunity is key to improving transactional success.
Whilst not every introduction that comes across your desk will match your current investment objectives, every introduction does contain valuable pricing and tenancy data that will support future investment decisions.
When a new introduction comes in via email, phone, text, or verbal communication – you only need to give yourself 30 seconds or so to log it in Coyote. The deal data is captured in a structured format for your team to make use of instantly.
For example, a colleague in acquisitions could run a search of all the retail assets the team have been introduced to in the last year to quickly validate underwriting assumptions for a potential investment.
RELATED READING: Coyote PLUS – Data Management Services.
Managing your pipeline
Coyote’s easy-to-use dashboard can make managing your deal pipeline quicker and more accurate than ever. To start, simply filter all the assets you’ve ever logged in Coyote by ‘Introduction Date’ to view just those that have come in since your last pipeline meeting.
With an extensive set of search filters, you’re able to slice and dice your data in a way that’s near on impossible to replicate when working across multiple spreadsheets of information.
Perhaps you’re looking to review all the intros that have come in for a particular asset class located within a specified radius or boundary – that’s quickly done in just a few clicks.
Accept or reject those deals
Imagine it’s Monday morning, and the team are gathering for your weekly pipeline meeting. Using Coyote, you’re able to bring all your recent introductions up on the large screen for all to see, and inline editing allows you to quickly go through and accept or reject the potential deals line-by-line.
With a live view of the best deals on the market, it’s a great team collaboration tool that helps to streamline your deal review process.
When you reject a deal, for any reason, the information associated with that introduction doesn’t get thrown out. That valuable data is retained, ready to play a crucial role in understanding future transactions.
For example, you might get introduced to a single industrial asset multiple times across a two-year period: If you rejected the introduction the first two times, why would you accept it on the third?
A quick glance at your previous rejection reasons could shed some light on this. Perhaps the calibre of occupiers has improved since you last looked at it, or maybe the units are picking up a higher rent than before.
By logging, managing, and running your deal pipeline within one platform, you create a 360 view of your real estate data – visible to everybody in your team.
You can streamline and collaborate on key opportunities by centralising your deal pipeline, ultimately enabling your business to manage more deals.