Commercial Real Estate Pipeline Management: Tips for Deal Success
In a competitive commercial real estate market, timing is everything. Poor real estate pipeline management increases the risk of missed deadlines — if not lost deals. More importantly, you may miss out on securing advantageous lease terms or fail to identify cost-saving opportunities, which can be very costly down the line.
Without a clear understanding of your commercial real estate lease portfolio, scrambling to manage unexpected vacancies or lease terminations will be the least of your worries. It could stall future expansion efforts altogether and add unnecessary pressure to everyone’s workloads under an already strained budget. The answer to this commercial deal success is pipeline visibility and clarity in your deal stages and property details. Enter your commercial real estate pipeline management strategy.
What Is Real Estate Pipeline Management?
Commercial real estate pipeline management is a strategy that helps transaction managers and brokers outline their sales deal stages and deal data in ways that facilitate efficiency. A real estate CRM built for your deal pipeline helps you navigate, prioritize, and take action on commercial deals more efficiently. Successful real estate pipeline management starts with a deal CRM system that acts as your source of truth, ultimately enabling both commercial tenants and their tenant representative brokers to have clear client communication, customer interactions, and task management processes as they relate to deal flow and deal pipeline stages. Real-time data prepares commercial tenants to make better real estate transactions and strategic investment decisions for their businesses.
The answer to these potential deal pipeline woes can often be summed up in a single word: centralization. Centralizing your real estate deal pipeline provides a comprehensive view of the market. It also bolsters the integrity of commercial lease data, which allows you to better plan upcoming budgets and improve your negotiation power. Executing your real estate strategy is no longer a question mark. You can optimize your lease portfolio investments and continue expanding in strategic ways.
Investing in the Right Real Estate Pipeline Software
Occupier’s transaction management software doubles as your commercial real estate pipeline software. The platform enables greater collaboration between tenant rep brokers and your real estate team by consolidating your portfolio, deal pipeline, and contact data into one cloud software. It also centralizes all the necessary information in one place. Everyone’s working off a single source of truth, which can offer the following benefits:
1. Easier access to your commercial lease data.
Centralizing your commercial real estate deal pipeline improves the accessibility of your commercial lease data. This data can include everything from rent financials, square footages, clauses, and lease expirations — all of which can help you make more informed decisions about real estate expansion and budget planning. Real estate professionals will appreciate the visibility into all their lease data, any important tasks, and lease expiration dates or upcoming renewals.
2. Improved negotiation power.
Commercial lease data can do more than help you keep tabs on your real estate lease portfolio. It can provide a clearer picture of the commercial real estate market. This puts you in a much better position to negotiate lease terms and rent prices, helping you close the best possible deals and optimize your real estate growth in an effort to scale more efficiently. Real-time reports from Occupier allow you to review comps and proposals in your deal pipeline sales process to better negotiate and analyze your real estate team’s performance.
3. Streamlined communication.
It’s no secret that there are numerous stakeholders in the commercial deal process. By centralizing your deal pipeline, you help keep tenant rep brokers, attorneys, and your real estate team aligned on your business objectives. With everyone always in the know, task management and deal acceleration become that much easier. The real estate deal sales funnel is nuanced and unique for every organization. With Ocupier, your team can customize deal stages and build out a standardized sales process that makes sense for your real estate deal team.
Enabling Proper Real Estate Pipeline Management
Centralizing your deal pipeline simply provides you with a more holistic view of your business. This, in turn, allows for proper real estate pipeline management that goes beyond unexpected expenses, potential overpayments, or missed renewals. You and your real estate team can make data-driven decisions, which tend to be more strategic in nature. You’re always working off the most current data, which affords you the opportunity to be more nimble and agile with how your business expands — even during economic uncertainties.
Just consider how quickly your team could react if they were always appraised of deal pipeline activity, especially with automated reporting. That activity can be delivered to all the necessary stakeholders, relieving your real estate team of the task of compiling pipeline reports. Instead, they can focus their attention on higher-value activities. New vertical research, for one, could be of great benefit to your expansion efforts. It’s all about improving commercial lease data accessibility — that and building a communication channel that enables greater collaboration among your team, both internal and external.
With Occupier’s transaction management software, that’s exactly what you can expect. All the information needed to be more strategic with your expansion efforts is easily accessible in moments. In fact, the platform helps you build efficiencies around the evaluation of new and potential deals. You and your real estate team can walk into any negotiation with the confidence that these are the terms that make the most sense with your operations and budget.
If you’d like to learn more about our software, please contact us today. A member of our team would be more than happy to discuss your business and expansion goals to help you find a solution that best suits your needs.