New VTS Demand Match feature developed specifically for Central London Agents will enable agents to automate the process of matching tenant requirements to a single space, building or multiple instructions they manage based on size, location, and price – ultimately decreasing deal cycle time and increasing conversion.
26 September 2018, London: VTS, the leading leasing and asset management platform for the global commercial real estate industry, today announced the significant expansion of its Tenant Requirement capabilities with the launch of a new feature specifically for the London market – Demand Match. Demand Match has been developed in response to the needs of agents in Central London and enables them to engage and respond to new tenant requirements faster, significantly accelerating deal velocity and saving agents time.
Demand Match completely removes the manual work currently required to sort through and respond to the hundreds of daily emails containing tenant requirements. The feature automatically translates live market requirements from third-party databases and notifies the agent if there is a match to any availability they are managing, while at the same time allowing them to share marketing materials faster, track demand and collaborate in real time directly with their teams.
Once VTS reveals a tenant requirement match, agents will receive a push notification allowing them to filter through the noise of daily emails and respond to leads faster. The agent can easily share property marketing collateral, such as property flyers and floor plans, directly from their mobile device or desktop.
With requirements being fed directly into the agents’ VTS deal pipeline, he or she also benefits from direct visibility into how the requirement is progressing through the deal process. Additionally, agents can easily view and manage which requirements have received marketing materials and track all Tenant Requirement activity in one place.
VTS technology is used by more than 350 Central London agents tracking in excess of 3,500 available spaces on behalf of major landlord clients. Firms such as Cushman and Wakefield, Knight Frank and GVA have helped develop Demand Match and were participants in its beta trial.
Ian McCarter, Head of West End Agency, Knight Frank, said: “As an effective central leasing management platform, VTS is already helping our Central London leasing business to streamline our data flow and internal processes, as well as enable us to continue to provide best-in-class service to our landlord clients.
“VTS’ Demand Match functionality will take our efficiency to a whole new level by enabling us to quickly identify and respond to new opportunities, at the same time as reducing the number of hours dedicated to meeting this purpose.
“What’s really different is that the new capability is seamlessly integrated with Knight Frank’s wider deal pipeline in VTS, meaning our agents can immediately see which availabilities match any tenant requirement. Overall, this will allow us to ensure that our landlords’ availabilities are in front of potential tenants far sooner and speed up the end-to-end deal process – a win for everyone.”
Ryan Masiello, Chief Strategy Officer at VTS, commented: “Put simply, time kills deals. Central London agents have long been frustrated with the hours of time lost daily spent sifting through and responding to hundreds of individual tenant requirement emails.
“By automating this process, VTS will free up agents’ time so that they can focus on closing deals and helping landlords understand the market and tenants better.
“The London property market is feeling the effect of these uncertain economic times and technology has a role to play in weathering the storm by boosting efficiency and speeding up the deal cycle. VTS is dedicated to helping our London customers excel, and efficiency is critical to getting good deals done in volatile markets. VTS Demand Match is a key tool for agents to ensure that the right tenants are seeing their spaces first.”
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VTS is the commercial real estate industry’s leading leasing and asset management platform. Landlords use VTS to maximise portfolio performance by transforming their leasing and asset management process, enabling them to acquire the right tenants faster, sign the right deals at the best economics, and optimise the renewal process – reducing costly void. Agents can manage their deal pipeline and get tenants into empty spaces faster, collaborate across teams and work easily with their landlord clients on the VTS platform.
The VTS platform manages over 8 billion square feet, boasting an impressive client roster that includes top names such as The Crown Estate, Landsec, Aberdeen Investment Management, Blackstone, JLL, CBRE, and Knight Frank.