Real Estate Advice, Asset Management
Article | May 9, 2023
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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Real Estate Technology, Asset Management
Article | June 15, 2023
As a realtor, what’s your marketing strategy for getting ahead of the competition? Research shows that over half of all home buyers look for their next home through the internet. And that’s not all, only around 34% approach a real estate agent for help. Unless your clients are able to find you the next time they do an online search, you will be left behind! Here are eight marketing ideas in Real Estate that can help you create a marketing strategy to expand your client list in 2020.
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Real Estate Investment, Asset Management
Article | May 5, 2023
Commercial real estate events assist professionals in enhancing asset management by gaining valuable insights, adopting advanced technologies and effectively navigating current industry landscape.
Commercial Real Estate asset management is dynamic, complex, and constantly evolving. To constantly change with the latest trends and technologies, professionals need access to the best resources and experts. However, staying informed and up-to-date can be challenging, particularly for those new to the industry or having difficulty managing the business. Attending conferences and trade shows can be incredibly valuable and help overcome the challenges of managing assets in real estate. The events from May 2023 to January 2024 provide a unique opportunity to learn about emerging technology, sustainability and climate technology, and property and investment tips. In addition, by participating in workshops and attending conferences led by top experts and networking with industry leaders, one can navigate the current scenarios and gain valuable insights to better manage their commercial real estate assets.
10 Upcoming Commercial Real Estate Asset Management Events
1. Realcomm | IBcon 2023: Past, Present and Future of Real Estate Technology
June 13-15, 2023 | Las Vegas (USA)
Realcomm and IBcon 2023 have formed a prominent group of commercial real estate executives and intelligent buildings experts worldwide to serve on their advisory councils to provide exceptional education on the most important issues affecting the commercial and corporate real estate industries. The event's agenda will cover various themes: intelligent buildings, smart workplaces, digital transformation, sustainability, cybersecurity, and more. It is a once-in-a-lifetime opportunity for real estate and asset management professionals to learn from the foremost experts in their field, expand their knowledge and network, and advance their professional development.
2. MRI Ascend 2023
October 24-27, 2023 | Chicago (Illinois)
The MRI Ascend 2023 conference for all real estate professionals seeking to stay abreast of the latest industry insights and master MRI's product offerings. This event presents an exclusive opportunity for attendees to learn from prominent industry leaders, earn valuable CPE credits, and gain insights about the industry's current scenario and trends. In addition, the conference gives a platform to engage with other MRI users, real estate experts, and MRI's partner ecosystem members, including numerous sponsors, in various networking opportunities. The conference's agenda comprises informative sessions, expert-led workshops, and engaging panel discussions, providing attendees with a comprehensive understanding of the real estate technology trends.
3. REAL PropTech Conference 2023
September 7-8, 2023 | Frankfurt am Main (Deutschland)
The REAL PropTech Conference is a highly anticipated event for the real estate and construction industry, offering an overview of GreenTech, ConTech, and PropTech to C-suite representatives, decision-makers, and industry experts. Property managers, portfolio managers and other executives in the industry can gain cross-industry insights, engage with experts, and explore solutions to industry challenges. The conference will offer intensive, creative topics featuring agile methods in a confidential setting, allowing for a unique learning experience. Additionally, a hackathon will enable participants to develop practical and innovative solutions and win prize money of 5,000 euros. This event will be a valuable experience for industry professionals seeking to stay up-to-date with the latest trends and drive the industry forward.
4. Inman Connect New York 2024
January 23-25 2024 | Hilton (New York)
Real estate professionals looking to enhance their knowledge, build relationships, and grow their businesses can benefit from attending the upcoming Inman Connect New York event. The three-day conference brings together top agents, brokers, executives, proptech, and financial professionals to share insights, insider guidance, and trends to navigate the current market. With over 75 engaging sessions featuring 250 expert speakers and countless networking opportunities, attendees can gain valuable advice and build essential relationships with peers and industry leaders. In addition, Inman Connect New York offers an immersive experience with crucial newsmakers, visionaries, and trendsetters, providing critical insights and advice to help professionals take their businesses to the next level.
5. I.CON East 2023
June 7-8, 2023 | New Jersey (USA)
I.CON Is one of the largest events in New Jersey focused on developing, operating, and expanding industrial real estate. As an industrial real estate professional, attending this premier conference offers a unique opportunity to stay up-to-date on the latest trends and technologies in real estate asset management and industrial development from top industry leaders. Additionally, the event provides a platform to network with like-minded professionals in a vibrant and enthusiastic environment. Attending the event will help with investment management solutions for real estate investors. The event features a range of activities, including a happy hour with exhibitors and a keynote speech on 'The Future of Economic Growth: Identifying Emerging Opportunities and Risks.' Keynote speakers include Matt Brady from Ware Malcomb, Luke Corsbie from PE, PLS, Frank Di Roma from OAA, James Geshwiler from Catalyze, Nicolette Jaze from Galvanize Climate Solutions, and Madeline O'Donnell from Principal Real Estate Investor, among other well-known speakers.
6. Future of Digital Asset Management Summit
October 18, 2023 | London (United Kingdom)
The Future of Digital Asset Management for Businesses is a highly informative event focusing on essential solutions for real estate professionals seeking to streamline their digital asset management processes. This event brings together experienced experts from international brands to share their insights and knowledge on the software systems that can enhance campaign productivity and ensure brand consistency. In addition, attendees will comprehensively understand digital asset management, digital delivery, data analytics, security, and more. This event is designed for CXOs, VPs, Directors, Managers, and professionals from various domains, such as asset management, digital technology, IT, business development, and more. The event's key speakers are from leading companies such as Tesco, Nordia, ExxonMobil, Atkins, and Ashley.
7. Expo Real
October 4-6, 2023 | Munich (Germany)
Expo Real is an international trade fair dedicated to property and investment, attracting professionals worldwide from the entire real estate industry. Held annually for three days in Munich every October since 1998, it is one of the most significant events of its kind in Europe. Expo Real provides the perfect platform for networking and sharing the latest real estate insights with fellow professionals meaningfully. The event will allow one to discover the latest trends in property and investment, attend panel discussions, and connect with like-minded individuals worldwide. Renowned industry experts will share their insights on current and future trends in the real estate market. The event will feature over 500 speakers from various sectors of the real estate industry, including leading investors, developers, operators, and service providers.
8. Canada PropTech Show 2023
August 22-23, 2023 | Toronto (Canada)
The Canada PropTech Show is a two-day event that includes an exhibition, networking sessions, and awards, providing an ideal platform for PropTech companies, real estate owners, investors, service providers, startups, and other players in the real estate ecosystem to engage in productive discussions, share ideas, and build partnerships. The real estate conference will cover topics such as smart buildings, AI, blockchain, virtual and augmented reality, and IoT. Through these sessions, attendees will gain valuable insights into how technology transforms the real estate industry and discover ways to leverage technology to drive their businesses forward. By attending the event, real estate professionals can gain a competitive advantage, forge new business relationships, and discover new opportunities for growth and success.
9. Mortgage Star Conference
July 10, 2023 | Orleans (Los Angeles)
The Mortgage Star Conference is a tailored event designed to empower and support successful women in the real estate industry. This immersive conference offers a unique opportunity for real estate professionals to enhance their skills, network with like-minded industry professionals, and gain valuable insights to achieve superior results. With esteemed speakers such as Olympic Medalist Amanda Beard, SVP Operations at Angel Oak Mortgage Solutions Alysse Prosnick, and Managing Editor at Mortgage Women Magazine Kelly Hendricks, attendees can learn from industry leaders and share experiences in an environment that fosters lifelong connections. This conference will help to sharpen abilities, build relationships, and enhance business in the mortgage industry.
10. Digital Mortgage 2023
September 26-28, 2023 | Wynn (Las Vegas)
Digital Mortgage 2023 is a leading event that assists businesses in transforming the mortgage industry by providing actionable insights and effective networking opportunities for industry professionals. The real estate leaders and managers will be able to connect with the mortgage community and collaborate to address the industry's digital evolution by attending this event. In addition, participants will learn how to prioritize personalization in mortgage portfolio management and how data contributes to a more personalized customer lending experience.
Conclusion
The real estate industry faces several challenges, including adapting to technological advancements, changing consumer demands, and environmental concerns. These challenges make it difficult for professionals to stay competitive and profitable. However, attending industry conferences can help professionals gain a futuristic approach to tackling these challenges. The events provide access to experts and valuable insights into commercial real estate new trends, technologies, and sustainability practices that can help businesses stay ahead of the competition. Additionally, networking opportunities at these conferences can help real estate professionals build essential relationships to develop their portfolio performance further and manage real estate assets.
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Real Estate Technology
Article | July 25, 2022
Real estate technology has revolutionized the real estate business. Most real estate developers today use technology to meet the needs of customers who are becoming more knowledgeable, give them the best service possible, and remain competitive.
Real estate agents are turning to Customer Relationship Management (CRM) software to manage all communication and interactions with customers and prospects and improve operational efficiencies.
What is a real estate CRM? A quick glance
A CRM system for real estate is a system that helps manage all communications with leads and clients. It functions as an online database, allowing you to manage your contacts while saving time and effort on manual data entry. Email and text messaging, lead tracking tools, and click-to-call capabilities are some of the key features you will find in the top real estate CRM.
A productive realtor must multitask, including keeping the database of clients, locating properties, communicating with clients, using websites and social media platforms to advertise and communicate with new clients, etc. This is where a CRM software plays a critical role because time is money and CRM software allows saving a considerable amount of time, minimizes effort and resources by sales automation, inventory management, automating contacts, managing customer interactions, and performing other data operations.
Before selecting a comprehensive CRM solution for your real estate business, you should consider a few key aspects and features
Sales process automation
Manage your sales pipeline with end-to-end sales automation features that let your sales team focus on tasks that bring in more money while routine tasks are automated.
Inventory Management Platform
A cloud-based dedicated digital inventory management can let you remotely manage vast quantities of inventory across various projects, buildings, floors, and units. You can use the automation feature to organize and sort a large amount of real estate inventory, as well as to ensure that inventory is selected based on the buyer persona and criteria.
List management
Your CRM should allow you to personalize your data in order to generate lists based on transactions, dates, offers, events, and incentives
Automate tasks and workflow
Realtors must be able to quickly respond to property queries without having to browse through their inboxes. Once a client interacts with an agent, the system initiates real-time push alerts, sends follow-up emails or texts, manages calendars, and enables the customer to select other preferred contact channels
Post sales automation
Using CRM, the sales team could maintain customized payment schedules based on projects, send automated payment reminders, handle inventory payments, create and share documents online relating to bookings.
Seamless cross-platform accessibility
The CRM software must provide cloud access in addition to phone, desktop, and any smart device. Compatibility with other platforms — compatibility with products like as Microsoft Office and Google Docs is of tremendous assistance, so include it to your list of must-haves. In addition, ensure that the system is user-friendly for individuals who may lack technological expertise.
Feedback and reporting
The core of your company's success is gathering client feedback. A software that provides insights into your data through centralized reporting and real-time client feedback is ideal for making quick decisions that help you improve sales and boost customer engagement and retention
Scalability
Scalability is another factor to consider; will you have the flexibility to simply add users as your business grows? You need a CRM platform that is versatile and reliable, able to handle ever-growing business operational efficiencies and not suffer from regular system downtimes, lags and data losses.
Conclusion
Whether you are a seasoned realtor or a newcomer, investing in CRM software that provides you with a variety of options for time-and cost-efficient customer data management has become critical. Despite the wide variety of CRM options available on the market, the most important thing is to find the one that is best suited to your specific real estate needs. Once you know what you want, you'll be able to make better decisions about your real estate business.
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