Radio Header

Get Adobe Flash player

"Commercial CyberSpace Tips!"


Attend This Session

Jerry Anderson Photo
10/6/00 Interview with Jerry Anderson

Coldwell Banker Commercial
6 Sylvan Way
Parsippany, NJ 07054
Biography

Print Print this handout

Impact of Technology on Real Estate

  1. The electronic age has transformed how real estate business is done by enhancing the ability to get information, to market properties and to communicate with people.
  2. Coldwell Banker Commercial has 380 offices in 28 countries and nearly 3,000 sales associates; technology allows the company to meet the varying needs of its diverse professional community.
Crux of the Technological Transformation

  1. Traditionally, commercial Realtors have closely guarded their information; the commercial industry is becoming aware of the importance of directing people to the information they need to make decisions prior to meeting with the real estate professional.
  2. The kind of information that needs to be shared includes property searches, property information, economic development information, vacancy factors and more.
Practical Strategies to Stay Ahead of the Pack

  1. An agent must be findable by the public people want to locate what they are after quickly; begin by making your web site address part of your traditional marketing (every printed piece you distribute); use tips from the Society's DealMaking Wizard Disk.
  2. Internet technology is a valuable tool; wrap your business model for providing services around this tool Anderson recommends a high-speed access line. 3. Clients no longer need agents just for information; what clients don't get from the Internet is wisdom focus on the role of educating, guiding, evaluating and providing creative solutions for clients.
Components of Coldwell Banker's Internet Capability

  1. The Internet provides the ability to get information from all sources.
  2. CB Net is an Intranet, or communications network, linking all Coldwell Banker offices; through it, local offices can easily access all the benefits that the franchiser has to offer.
  3. Instant Client Access is a proprietary extranet through which Coldwell Banker corporate clients can monitor the status of any and all transaction Coldwell Banker Commercial is handling for them.
How Instant Communication Works for the Agent

  1. Coldwell Banker Commercial's parent company is Cendant, which also owns 9 hotel brands with 6,000 franchisees; Coldwell Banker Commercial has a strong hospitality brokerage group‹an email group that any Coldwell Banker Commercial office can access.
  2. When a Florida Coldwell Banker Commercial office got a new listing for a property with potential to be converted to a brand, an instant message was sent to the hospitality group, which immediately forwarded it to the preferred clients of the hotel franchisees via list server.
  3. The instant, broad exposure to qualified buyers resulted in the property being under contract in one day‹no marketing brochure was ever created.
  4. By knowing how to communicate with the right contacts, an agent not only saves time but also is spared having to know the details of a specialized aspect of the market; the power of communication has risen from 10% importance in the old days to 80-90% importance today.
Tips for a Good Commercial Web Site

  1. Your site must provide the ability to find information about properties quickly; Coldwell Banker Commercial is partnering with LoopNet for this purpose.
  2. Go beyond just an electronic brochure; your web site needs to be dynamic‹for example, update local market information, transactions, news releases and advice on buying investment properties.
  3. Consider sharing information that traditionally has been kept confidential within your company; e.g., Coldwell Banker Commercial now posts questions to ask when leasing space or buying, questions that were once reserved for interview situations.
  4. The key to a successful site that attracts prospects is to add value for the public; Internet capabilities are a great equalizer that allow even single practitioners to compete with large operations.
Making Effective Use of Other Sites

  1. Other sites besides LoopNet that come up prominently on search engines under commercial real estate are worth exploring and utilizing; they include RealtyIQ, PropertyFirst and CoStar Group.
  2. Coldwell Banker Commercial uses the portal concept on its Intranet and organizes the best of what is available on the Internet for agents by creating links; among the tools linked is Reapplications.com from the Jamison Group.
  3. Real Capital Markets is a new e-solution for institutional real estate; an agent can put up an entire due-diligence package on a property for only $5,000; you give your clients a pass code to download it for printing.
  4. Other valuable business sites are Site to Do Business at CCIM.com and Recyber.com.
Personal Favorites

  1. The latest software for your PalmPilot can be downloaded from Palm.com; QuickBrowse delivers the newspapers of your choice to you every morning online.
  2. Worldtimeserver.com shows time worldwide; Dimension 4 keeps your computer in sync with Greenwich Mean Time.
  3. Pikenet.com offers succinct news of the real estate industry.
Vision for Commercial Real Estate

  1. To avoid information overload, Internet users with high speed access will go directly to what they are looking for and demand that it be found in one place aim to make your site a resource that meets their needs.
  2. Relationships with prospects, clients and fellow pros will be increasingly important and can be built through Internet connectivity; people work with you because they trust you and because you make or save them money.
Contact Information for Jerry Anderson:

(v) 973-496-5186
(f) 973-496-5316
(e) jdanderson@coldwellbanker.com
(w)www.coldwellbankercommercial.com


Real Estate Sites & Tools in this Briefing:

Coldwell Banker Commercial

Prominent commercial RE:
Loopnet
realtyiq.com
propertyfirst.com
costargroup.com

Commercial tools:
reapplications.com

Site to Do Business on
ccim.com
REcyber.com

Real Capital Markets:
rcm1.com

Personally helpful sites:
palm.com
worldtimesaver.com

Greenwich Mean Time:
www.zdnet.com

Newspaper deliveries online:
quickbrowse.com

Industry information:
pikenet.com