Although initially resistant to the new VTS technology, Mark Pateman and his team at Cushman & Wakefield Palm Beach have come to view VTS as an integral part of their daily work life. The team now spends less time focused on reporting and more time focused on strategically advising clients.
If you’ve recently leased space in Florida’s Palm Beach County, there’s a good chance you worked with Mark Pateman or his team at Cushman & Wakefield. The lawyer-turned-owner-turned-broker has developed a well-deserved positive reputation in the sunny market.
But, for nearly a decade, Mark managed his business primarily by emailing around spreadsheets and tables based on different owner’s requirements for reporting and updates. He explained, “it was really cumbersome. It required constant phone conversations, numerous revisions, and face-to-face meetings. It obviously wasn’t the optimal way to do business.”
The frustration grew each year as the business grew. “We started in Palm Beach County with a very small agency footprint,” said Mark, “and over the course of now 10 plus years, we’ve built almost 5 million square feet of landlord office agency and now work with 22 different owners.”
Maintaining different reports and continuous communication with 22 different owners was starting to wear Mark and his team down. That is, until he found VTS.
Truthfully, Mark’s relationship with VTS wasn’t harmonious at first. “When one of my owners asked me to start using VTS, I was extremely reluctant,” he explained. “I thought it was just another place to input data.”
But, then the team started using the platform and decided to go all in. Uploading all of the assets in the system, “it became clear that this software was actually going to help us,” said Mark.
The most immediate benefit to the Cushman & Wakefield Palm Beach team has been the time savings. “It has saved us hours of reporting,” said Mark. “From three or four hours a day to three or four hours a month.” The ability for the team to input data in real-time means they always have the right data on-hand, so they have fewer calls and don’t need to collate the data at the end of the month.
“Our monthly reporting takes two to three hours with a couple of mouse clicks to create a PDF report that the landlords now happily adopt because it is far superior from a deliverable and aesthetic perspective than anything we created in the past,” said Mark.
But, the time saving is only the tip of the benefits iceberg in Mark’s eyes. “As brokers, we're really producers and I think that the extra time allows us to be more thoughtful with what we produce and how we push deals along.” He continued, “So rather than just being a reactive broker trying to keep people happy, we can really wear our asset manager and owner hats and think through problems like an owner. VTS is always up on our screens.”
The extra time and structured data has allowed the Cushman & Wakefield Palm Beach team “take a much more data-driven approach to our leasing,” said Mark. “This is how leasing will be done from now on.”