Consorto® has launched an automated Deal Flow communications process – the first of its kind in the European commercial real estate sector.
Deal Flow speeds up data access and property selection and also improves deal management for commercial property buyers and sellers on Consorto.com.
The CRE sector has generally been slower than others to adopt proptech solutions, but COVID-19 has enabled the industry to embrace automated solutions, says Consorto® Chief Executive, Philip Verzun.
Excited about Deal Flow potential
“Other industries have forged ahead with automated solutions, but the commercial property sector has tended to lag. That is why we are excited about the potential of Deal Flow, which speeds up online data exchange between buyers and sellers and aids property selection decisions.
“Deal Flow has been 10-months in the making – so you can see the kind of work that has gone into the process.”
Through Deal Flow users can:
- Find answers through a quick Q&A using pre-selected questions
- Confirm further interest or cancel
- Unlock off-market listing details with instant digital signature
Cross-border CRE buyers in Europe often have to overcome obstacles, including different regulations between countries, language barriers and navigating numerous websites. But Deal Flow makes the process easier, along with the like-for-like listings data on Consorto®.
Deal Flow is available free of charge to Consorto® registered users.
Just getting started
Philip Verzun says automation will eventually improve the entire system. “This is phase one of Deal Flow, so we are just getting started with automating the initial part of the process. We are working towards the day when the entire commercial property transaction can be made digitally, but we are still some way away from this in Europe.”
Consorto® registered users click the Proceed with Deal Flow button on their chosen listing to begin the process.
Sellers see questions buyers have asked from a pre-populated list and provide quick answers, which are automatically relayed. Both parties are kept informed of progress.
Previously, all this work was done manually and took considerable time and effort. Now, it can all be done at the click of a button, 24-hours a day.
Once the questions are answered, investors can proceed with the deal or end their interest.
Buyers can also use Deal Flow to digitally sign an NDA and access hidden information on Consorto® Private Deals.
ENDS
September 2020
Press information: For more details, please contact Consorto CEO, Philip Verzun, on +31 6 47875175 or email philip@consorto.com
