When you're talking about commercial real estate data, you could be talking about the address or square footage of a property, a listing, a client's phone number, assorted financial metrics, ownership details, the number of cold calls you made last week, or even a prospect's favorite football team.
It's the foundation of your business, and if you use it right, you have access to a world of intelligence and opportunities—and can provide thoughtful guidance to clients at a moment’s notice. It’s tempting to think of this data as yours and only yours—but what do you lose when you keep all of this data to yourself?
We know brokers who are ferociously protective of their data—as well as their relationships—and we know some teams that are so competitive they'll steal leads right out from under each other.
And in a way, we get that instinct to turn inward. It can feel like you're laying all your cards on the table when you share hard-earned intel with people who may not understand what it took for you to get it in the first place—and who may run off with it the moment your back is turned.
But at the same time that some brokers are turning inward, others are turning that thinking right on its head. They’re discovering that when they open up and work together, they’re able to attract even more success for themselves, their team, and ultimately their business.
If you still haven’t made the leap towards full data transparency, consider the impact it can have on your team’s overall success. It may feel risky, but it can lead to unexpected benefits that far outweigh any fears you may have.Whether you work on a small or large broker team, or for a small or large brokerage, here’s how sharing data can make you all even stronger:
Be more useful to your clients
In the end, everything comes down to this simple question: how well are you serving your clients? You know how valuable relationships are, and how difficult they can be to build. Why not give your team access to the big picture—the deals, relationships, and opportunities around town—so that each of you can use what the other knows to serve everyone’s clients better? You’re only as good as the information you have available in that moment, and sharing it can make each team member exponentially better.
Empower your team
You may have started out on your own, but chances are that as your successes have grown, so has your team. The most robust broker teams don’t only have associate, junior, and senior brokers, they have an entire operations team that makes deals happen. All of these people—from the research manager and analyst to the marketing director and transaction coordinator—depend on good data to do their jobs well. The more information they have, and the better organized and more accessible it is, the better they can serve your business.
Get more done with less effort
More people sharing data means that you don’t have to double up on work that someone else has already done: you can work together to fill in gaps in your knowledge and keep what you know in a pool shared by all. Use technology to keep all of that information streamlined in an easy to access format. More people contributing to—and double-checking—the same information means you can cover more ground, eliminate inconsistencies, and get more of your time back to focus on the important stuff.
Sharing data across a team or brokerage can be a powerful way to boost everyone’s productivity, but you need a system to store and organize this data so you can put it to work. Go ahead and get a demo of Apto so you can take the first steps toward more powerful collaboration.