New features will help brokers and sellers monitor and manage listings, all while streamlining CRE transactions on the platform
IRVINE and SILICON VALLEY, CALIF. (April 18, 2018) – Ten-X Commercial, the nation’s leading online and only end-to-end transaction platform for commercial real estate, today unveiled a new online dashboard which provides unparalleled transparency into buyer interest and activity for all properties currently on the platform. The enhanced dashboard gives brokers and sellers unprecedented real-time visibility into investor interest in their properties and further streamlines the transaction process.
Leveraging proprietary Ten-X transaction data and algorithms, the new dashboard aggregates and automates deal flow and intelligence into a single location, giving brokers and sellers a bird’s-eye view of activity and key information on each property in real-time. Users can also drill down for deeper insight into the status of each property to make informed decisions throughout the transaction process. For example, brokers and sellers will be able to explore each property’s marketing traction and reach, as well as the number of potential buyers who have viewed the property details page and accessed the due diligence vault. The dashboard will also include details on buyers who have signed the confidentiality agreement and made offers on a property, including detailed information about each offer.
“The primary goal of Ten-X Commercial is to lead the digital transformation that moves commercial real estate transactions online, and the powerful capabilities included in this new release will help further that mission,” said Maureen Waters, Chief Commercial Officer of Ten-X Commercial. “A growing number of CRE brokers are turning to Ten-X Commercial because of our global reach to unknown buyers, 72 percent of which are unknown to the listing broker, and the certainty of close when using our online platform. Our new dashboard provides an unprecedented level of transparency into investor interest and activity for each property, giving brokers and sellers greater control than traditional transaction methods. As we evolve and scale our platform, we are committed to providing an enhanced user experience that will drive the continued adoption of Ten-X Commercial in the years ahead.”
A key feature of the new dashboard is a map view driven by Google Maps™ that geographically breaks down buyer interest in each property. Looking at the map view, brokers and sellers can see the reach of Ten-X’s global investor database of qualified buyers based on location. The new dashboard also provides automated reporting and insight into trends such as whether or not potential buyer interest is increasing or waning, and to what extent Ten-X’s various marketing efforts are driving page views and property offers. This level of transparency will benefit sellers and brokers when managing their properties and will help deal teams to make more informed decisions about whether to pivot the strategy for a particular property.
“We’re constantly soliciting feedback from our customers to help us iterate and expand on our platform so that we can further streamline the transaction process. The features included in the new dashboard release are a direct result of discussions with sellers and brokers,” added Lawrence Yuan, chief technology officer of Ten-X Commercial. “The real-time data insights in our new dashboard further empower brokers and sellers to make more informed decisions when transacting their properties on our platform. With both desktop and mobile functionality, our new dashboard will enable users to quickly scan through their pipeline of properties in one place, and then drill down into specifics throughout the entire transaction process.”
This dashboard release is the latest in a series of initiatives and partnerships Ten-X Commercial has recently announced to provide greater value to CRE brokers. In August 2017, Ten-X announced a partnership with Money360, a technology-enabled direct lender, to offer financing for properties available on the Ten-X Commercial platform. The Money360 partnership was implemented to give prospective buyers assurance that they would be able to secure the necessary financing to close on deals, thereby increasing the size of the investor pool. Ten-X Commercial also released “Offer Select 2.0” in May 2017, a vastly improved iteration of its flagship non-auction transaction solution.
About Ten-X Commercial
Ten-X Commercial is the nation’s leading online, end-to-end transaction platform for commercial real estate. Since 2009, the company has sold $18 billion in commercial real estate. The company blends data-driven technology with industry expertise to accelerate close rates and streamline the entire transaction process. Ten-X Commercial and its parent company, Ten-X, are headquartered in Irvine and Silicon Valley, Calif., with offices in key markets nationwide. Investors in the company include Thomas H. Lee Partners, L.P., CapitalG (formerly Google Capital) and Stone Point Capital.