Over the past year there has been an explosion of new companies, products and capital betting on the technology evolution in the Commercial Real Estate industry.
For a company that has been in the game for 8 years, arguably well before the market was ready for these technology products or this pace of change, there is no team more excited about the industry’s newfound focus on tech than our team at REthink CRM.
But while most technology companies (startups) in the CRE space have spent the last year looking forward, we’ve invested a considerable amount of time reflecting on our past. Over the last 12 months we’ve taken a hard look at every inch of our business to clearly understand where we’ve succeeded and more importantly, where we could improve.
Our mission is to be THE market leader in real estate business software…and to get there we knew that we had to make significant changes and difficult decisions to prepare our business for long-term success. Over the last year we refocused our team on growth. We took a hard look at clients and partners who were no longer aligned with our core long-term vision. We reorganized the company to remove unnecessary layers between people and teams and to foster collaboration and agility.
During this journey we also hired some incredibly smart people from the Commercial Real Estate industry to help us better understand our clients’ needs. We shifted focus to product development, launching major upgrades to our products, including the rebirth of REthink CRE in May. We re-architected our sales and our services strategy. We strengthened our partnership with Salesforce and formed new alliances with other leaders in the CRE tech arena. And we raised capital for the first time in our company’s history, adding a roster of world class advisors to our team.
Looking back on the past year, what we are most proud of is the rebirth of REthink CRE, our CRM (Customer Relationship Management) and Deal Management solution built on Salesforce for Investment Sales and Commercial Leasing brokers and their supporting teams. While we had an existing CRE CRM product, one of the first to hit the market a few years back, we had fallen behind in recent years. As the CRE tech ecosystem started to expand with new companies and fresh capital, our pace of innovation stalled. We had been an early mover in our market and we got comfortable.
We needed to reset.
With REthink CRE we went back to the drawing board. We spent countless hours listening to our clients, studying the CRE tech landscape, and dissecting every REthink Commercial Real Estate product / client we had ever built / onboarded. We collaborated with our sales and services teams to better understand our clients’ and prospective clients’ needs.
After 3 months of discovery and 6 months of building, we officially launched REthink CRE on May 16th and we’ve been humbled by the positive reception. Our goal is to make Commercial brokers more effective and efficient in their roles. We’ve built a CRM database to track people, companies, properties & spaces and deals in an intuitive manner that aligns with industry best practices. We’ve formed integration partnerships with leading data sources to limit manual data entry. We’ve built a deal management solution to help guide brokers through each stage of the transaction lifecycle, from prospecting to close. And we’ve built a comprehensive reporting engine to provide brokers, management and other departments a new perspective on their business, performance and health. And this is just the beginning…
Over the past year we’ve invested heavily in our team, our business, and most importantly in our clients. We’ve adopted a client-first approach, a philosophy that was ingrained in me during my time in the financial services industry. We are obsessively focused on ensuring our clients’ success with our products and we strive to exceed expectations in every experience our clients share with our team.
After a year of transition we are healthy, hungry, growing and completely dedicated to winning with our clients.
Thank you to everyone who has lent a hand, shared perspectives and invested in our success! You know who you are and we are forever grateful.
It’s been quite the year…but if you talk to anyone on our team, they’ll proudly tell you that we are just getting started!
CEO, REthink CRM