Recently, we at NAI Pleasant Valley have been sharing some of our top commercial real estate (CRE)-related technology tools in a series of blogs – the kinds of tools that help us perform at the top of our game. This series is about sharing best practices and fit-for-purpose tools, but, please note, this is NOT a paid or sponsored blog. We are motivated only by sharing information with our network.
This is our fourth blog in the series, and here we will be looking at VTS – a platform built specifically for commercial real estate (CRE) leasing and asset management. Read below to see why we love them, and you can explore them directly at www.vts.com/.
What is VTS?
VTS was founded by real estate professionals for real estate professionals because – they say on the website – “they have experienced the challenges facing today’s landlords and brokers first-hand” and want to “empower commercial real estate professionals to work smarter not harder”. Sounds good to us! And to loads of others, apparently, as VTS platform is used to manage some 12 billion square feet.
Additionally, with so many users and properties on the platform, this cloud-based provider is also a data and insights producer, releasing a monthly Office Demand Index. CEO of VTS Nick Romito recently spoke to BisNow’s Make Yourself at Home podcast about his optimism for a return to the office.
According to Romito, based on conversations with some 25 CEOs: “… 95% of folks are going to say, ‘It is mandatory you’re in the office in September.’ Is it three full days or four? No one’s doing less than three that I can see.”
Of course, our main concern is the platform itself which is really a multi-tasker with three main components: lease, data, and market. The former (VTS lease) is the workhorse including online deal execution and tenant management, and the latter (VTS market) is all about marketing CRE in a digital-first world. VTS data is probably self-explanatory, offering real-time market data, and fascinating forward-looking data.
Their target market is, thus, just about the whole CRE value chain: tenant reps, brokers, and landlords.
Although it isn’t their core offering, we also like the active blog that VTS runs which includes company news and their thought leadership-style content. Recent posts that we found interesting include a look at medical offices, retail’s recovery, and market predictions.
What is your top commercial real estate tech? What do you use to track deals and stay on top of leasing? Share your tips with us here.