5 Biggest Problems with Today’s Commercial Real Estate Tools
Today’s PropTech platforms come with their share of problems. Find solutions with Dottid.
Picture this: you’re about to close a huge deal with a new investor. After you send a few final reports to their office, they’re ready to sign on the dotted line. One big problem: those reports live on three different platforms—one for leasing, one for accounting, and one for project management. As you close your leasing software and boot up your accounting program, your computer freezes, and you’ve got to start all over again.
In an industry built on relationships, sticking to deadlines and providing timely information can be the difference between closing a deal and losing the trust of a valued partner. When you rely on disparate data from platforms that weren’t built to work together, your timelines increase and the data presentation is inconsistent.
These are just a few of the pitfalls of today’s PropTech—and the things Dottid solves with our first-of-its-kind integrated commercial real estate platform. We’re uncovering 5 of the biggest problems with commercial real estate tools and how we can move CRE into the next era of PropTech.
Specialized Platforms Overload Systems
You likely have a platform—including commercial real estate listing platforms—bookmarked for any task you complete daily—sending emails, entering financial transactions, managing occupancy, connecting with your team, and so many more. Also likely? You can’t work in all of them without your device slowing or crashing altogether. Dottid’s integrations allow users to bring team management, leasing and finances, and marketing together in one place—saving you the headache of closing out all your other works in progress.
Incompatible Formats Create Extra Work
When you use one system for leasing and another for capital expenses and bookkeeping, creating unified reports is a hassle. Leasing managers spend so much time simplifying, combining, and reformatting data from disparate reports to send to owners and investors—wasting valuable hours and resources. Dottid’s Asset OS CRE platform creates data visibility from all aspects of your portfolio to enable your whole team to make data-driven decisions and end wasted days of complicated data merges.
Lack of Integration Leads to Missed Opportunities
When financial managers, leasing agents, owners, and marketers use different platforms and collect different data, there’s no way to aggregate insights. Marketers can’t capitalize on positive tenant experiences, owners and property managers choose capital expense projects without full property analytics, and bookkeepers don’t have access to relevant tenant information.
Dottid changes all this by optimizing data visibility for all parties involved in asset management—from deals and tenant experience to ROI and project management. With all the right eyes on your data and analytics, spotting trends and opportunities is easier than ever.Untracked Insights Lead to More Lost or Dormant Deals
Losing a deal doesn’t have to be a total loss. In traditional commercial real estate investing platforms, the parties in communication know why a deal may have failed, but the buck stops there. One feature among the best commercial real estate investing tools is advanced tracking.
Dottid offers a feature for tracking insights on deals that fall through, allowing building owners and managers to take effective action to improve their properties. Dormant deals won’t fall through the cracks, either, thanks to a dedicated space in your Deal Overview. Read more about Dottid’s featuresAbsence of Team Management Creates Confusion
Leasing and management platforms across all types of real estate lack the infrastructure for team and task management—leading to the inevitable missing call log or untracked activity. Calling a tenant with a repeat question or re-running and resending ownership reports wastes valuable time and reduces trust among tenants, investors, and anyone else involved in the process.
Dottid’s solve? Team workflow and task management in-platform. Messaging, mentions, tasks, approvals, and building/tenant notes are all at your fingertips. Access anything from negotiation history to team members’ to-do lists right on your Dottid Launchpad.
With focus on people, processes, and platforms, Dottid is enabling commercial real estate teams to move into a new age of PropTech—one that integrates every aspect of CRE into a single easy-to-use piece of technology. Commercial real estate will always be a highly interpersonal industry, and we create technology that reflects the people doing the work. If you’re ready to experience the next generation of CRE tools, schedule a demo today and learn why Dottid is the best CRE platform for you.