Brokers are the lifeblood of commercial real estate. Period. Unfortunately, most technology companies don’t understand this…..
Over the past year, we have noticed an increased amount of new technology in CRE centered around online search that is trying to disrupt the current brokerage process. However, hardly any new technology has been created that improves the process for brokers. Again, the new technology in CRE is focused on search and seemingly not focused on making great tools for brokers. As a result of this, commercial real estate brokerage is constantly being referred to as an “old” and “antiquated” industry with a very outdated process. Combine the currently overpriced CRE technology/software pricing models with the outdated technology for brokers, and let’s face it, brokers are getting the raw end of the deal.
We believe that brokers are not only the key to making CRE deals happen, they are also the key to the data that is being created within CRE. Property owners recognized the value of a broker and pay them well for the service they provide when a deal is done. However, under the current technology structure, brokers create commercial real estate data, give it to technology companies for free, and then are overcharged for access to the collective data. Again, we believe that the brokers are the lifeblood to the commercial real estate industry. The owners recognize it, the tenants that hire brokers recognize it, but most real estate technologies firms do not. Those that know CRE well understand that it is a relationship business, and probably always will be. This knowledge comes from 40 years of combined CRE experience from Ten Eight’s founders. So, what does this mean for CRE technology? We think it means that the best way to integrate a tool into the industry is to give it away for free, so that you can have access to the relationships, data, and feedback created by the brokerage firms. That’s a change in the current model. Disruptive? Perhaps. The right thing to do? Ten Eight thinks so…
So, starting today, Ten Eight’s Pro Account is going to be free for all brokers. We realize that we don’t have a company that is worth a dime without the brokers’ support and adoption of our product and products to come. So, due to a change in our funding strategy, we now have the ability to do what we wanted to do from the onset of our launch. We’re going to provide Ten Eight’s Pro Account for free exclusively to brokers. Use it, and tell your broker friends about it. The data derived from all of the tours will be a great resource for brokers, and it is going to be free for us to share with our clients and also within our brokerage firms. So, if you want Ten Eight for free, and you are a BROKER, just click on the link that says “FREE FOR BROKERS” on our home page. Or, you can give me a call at (404-312-2053) and I will give you a promo code over the phone. Also, here is Ten Eight Promo Video as well if you wish to learn more.
Finally, there is CRE technology firm that is willing to embrace the brokerage community and focus on disrupting the time consuming and outdated technologies that currently exists, rather than trying to disrupt the industry as a whole. Let’s make great tools and close more deals together!