Towards a digital future for your construction company

| July 5, 2019

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This white paper discusses where the construction industry is today, the innovations that are already available and how to approach the digital transformation of your construction company in practical terms.

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Triovest

Triovest is a fully integrated commercial real estate advisory and capital firm with over $9 billion in assets under management and $4 billion in development. Triovest has a 25 year history of helping our clients realize the potential of strategic real estate investment – through acquisition, development and redevelopment, leasing and negotiation, and well-timed dispositions. Our approach to commercial real estate investment and management is to continually seek opportunities to improve and enhance properties to achieve their full potential.

OTHER ARTICLES

Complete Guide to Real Estate Scripts in 2020

Article | February 25, 2020

There is a huge chance that you heard the word “scripts” thousands of times. It’s like a real estate urban legend that newbie real estate agents hear about all the time. Everyone has an opinion about it and no one can agree on it. Some say scripts are just a shallow representation of a natural conversation between the real estate agent and the client. Others claim that it’s a very helpful tool—especially for a less experienced real estate agent—and scripts may help them overcome many unexpected situations. Well, we think there is a grain of truth in both of these statements and we should examine the scripts case more carefully. So, why are real estate agents so confused about scripts? Here is the thing. Many real estate agents go through the different conventions, purchase ready scripts and use them without changing even a word. So, in the end, you have tons of real estate agents starting their calls using the exact same words.

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How Real Estate Agents Can Master the Lead Nurturing Basics

Article | June 3, 2021

Is your real estate business set up for long-term success or do you hop from transaction to transaction, seeking clients who are ready to buy or sell immediately? Buyers and sellers who are ready to act now are great, but they’re just the bottom of a well-thought-out lead funnel. Most leads you receive could be anywhere from three months to a year or two away from making their transaction. If you plan to still be in real estate when the time comes, those leads could be incredibly valuable. Understanding Lead Nurturing One of the biggest decisions people will make in their life is whether or not to purchase a home. Most people will want to do some research and find out what exactly a real estate transaction entails before they become serious. As the first professional they talk to, you’re in a great position to close the sale…if you’re willing to work within their timeframe.

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What is BIM and How Is It Changing the World of CRE?

Article | April 11, 2020

The construction industry has been slow to evolve, especially in the realm of commercial real estate (CRE). In many ways, the construction process is not dissimilar from how it was when the first skyscrapers were built. However, as technology begins to change various parts of the industry, especially how all stakeholders communicate, building information modeling (BIM) is playing a larger role. BIM stands for building information modeling, and it's essentially a way to create as detailed a model of a potential building as possible so that architects, developers, and construction managers can collaborate and answer questions before and during the construction process. The benefit of this is that all parties can share information and potentially avoid costly mistakes.

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Revitalizing Multifamily Communities with Impactful Resident Services

Article | September 15, 2021

Impactful service-enriched housing programs and onsite supportive services build a foundation for serving the unique needs of a rental community’s tenant base. Quality services that address the individual concerns of each resident help eliminate the challenges that force turnover and increased expenses for property managers. Service-enriched housing includes the incorporation of programs and services within a community that advances the social and economic skill set of tenants. Meeting net operating income (NOI) and covering debt service obligations are key performance indicators for property managers. Tenants must be valued because they are crucial to improving the financial performance of a community or property. Without support in discovering a realistic path to self-sufficiency, these improvements made will not promote the stabilization of a tenant population. The key outcome for a community through the implementation of service-enriched housing programs is internal revitalization. Tenants benefit socially and economically from services that support access to job readiness, education and financial growth. During this time of economic instability, our resident services coordinators help remove barriers that plague many living in rental housing communities. Through its partnership with Esusu, Rainbow has alleviated tenants’ significant economic hardship by bridging default payments with no-interest loans. Tenants can use the company’s rent reporting platform, which sends on-time rental payment data to the three major credit bureaus – allowing them to build and develop their credit scores. Prioritizing tenant empowerment offers tangible and intangible changes in a property, leading to increased financial performance and improved tenant retention. It also reduces turnover costs for property management such as flooring, paint and reletting fees. Free programs and services also improve the marketability of a property to prospective tenants. Rainbow communities have seen a reduction in community vandalism since the implementation of youth enrichment programs that keep children engaged and supported in their education. Quality service-enriched housing programs, such as those offered by Rainbow Housing Assistance Corporation, provide direct access to resources that support the needs of physically and mentally disabled individuals, veterans, chronically homeless, single-parent households, families and seniors. Additionally, this type of outreach attracts the interest of local city, state and federal agencies as it helps stabilize the most vulnerable communities, cutting city and government expenses on a number of levels. This type of approval can even lead to further funding and support for initiatives that will enrich the future of affordable housing services. Key programs and resources address life skills, financial intelligence, education, employment, youth and senior programs, resources to eliminate emergency situations, and social development in a multifamily community. The implementation of a professional, service-enriched housing program with onsite staff ensures that these offerings are tailored to each community and primed for longevity. A stable tenant base will determine the solvency of a community and reposition the financial performance of an asset.

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Spotlight

Triovest

Triovest is a fully integrated commercial real estate advisory and capital firm with over $9 billion in assets under management and $4 billion in development. Triovest has a 25 year history of helping our clients realize the potential of strategic real estate investment – through acquisition, development and redevelopment, leasing and negotiation, and well-timed dispositions. Our approach to commercial real estate investment and management is to continually seek opportunities to improve and enhance properties to achieve their full potential.

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