The challenges posed by COVID-19 are different from any challenges the commercial real estate industry has faced in the past. With the rapid development of the situation, a wide range of shopping centre landlords are dealing with the impact of the pandemic on their business operations and the shift to remote work.
That is why we want to show the importance of data today. We can distinguish different types that are part of the specialty leasing process.
Commercial Real estate data
When we talk about commercial data, the most important thing is to use the information in a strategic way. A report made by VTS gives takeaways that will help frame the state of commercial real estate data today:
- Only 17% of landlords say their asset data is organized and up to date: One of the first clear themes is that asset data isn’t up to par for the majority of owners in the industry.
- Only 12% of landlords are sure they can quickly draw insights from their leasing and asset data, and act accordingly: The importance of having all data in one place and only one click away is something that can be easily seen firsthand. However, a lot of our new clients don’t know how to handle it.
- Just 37% of landlords know the causes of lost deals perfectly well: Tenants find actual manual processes tedious and, instead, they prefer digital online booking.
Source: VTS
Asset data
Asset data involves some basic facts, and you should be able to find, filter and analyze it to evaluate the performance. These facts include:
- Type of asset
- Quantity of spaces
- Type of spaces
- City and country
With BAC, you can quickly make specific reports, analyze performance and look for available spaces within the assets.
Specialty leasing data
Much data should be quickly found on the platform, as it is basic data for every asset manager and specialty leasing director. These include:
- Requests
- Bookings
- Invoices
- Performance
This information allows you to immediately extract different reports, which is especially useful in times of crisis as it is part of the actionable and appropriate industry data.
Space data
Every aspect in each space is critical to understand which type of space performs best and provides prospective tenants with accurate information.
Besides, the availability status enables the potential and existing tenants to quickly filter spaces and see only those that are available. It also helps ensure that the space is found on the inventory and that the the specialty leasing team does not lose much time.
Tenant data
This includes all the information related to tenants, where you can see each user registered under the same brand. The name of the brand, its country, sector and even the rating of its past bookings are also available. Moreover, you can make a report on the performance of each of them in the past bookings.
How to take advantage of data
Research on asset, lease, space, and tenant data is a key element that will help you to improve your understanding and make smarter decisions. You will keep everything trackable in order to identify areas for improvement, and formulate strategies and goals with the aim of improving your performance.
Would you like to learn more? Request a demo in Book A Corner at right away!
