How can I be at the front of the queue when it’s time to start buying again?
While none of us know how long it will be before the world returns to “normal”, we know that the time will eventually come and that those best prepared will be the ones best positioned for a flying start.
For acquisition teams, this means being able to buy commercial property again, but with the industry at a standstill, investment managers need to ensure they are at the front of the queue when the market opens once again.
For many, identifying the best opportunities will come down to the efficiency of the transaction process.
It’s no secret that commercial transactions are often frustratingly slow and fraught with obstacles, leading to countless late nights in the office, headaches, and the inevitable last-minute changes.
Being slow to react to a fast-changing market can lead to missed opportunities, so where do you begin to address this issue?
Preparation is key
The first stage in the process is to carry out the vital research to help you determine whether a potential transaction is a good one to put forward or not. This often involves trawling through multiple sources of data that you have gathered, to weigh up the various risk and advantage factors relating to a deal.
Next, this initial research needs compiling into a report for your investors or management committee, in pursuit of a decision to accept or decline the proposal.
If declined, the (valuable) research is often filed away, never to be seen again.
If approved, the next stage of the process begins, and a variety of stakeholders join the process; from legal teams, client’s lawyers, investors, sellers, finance teams, and so on.
In summary, the deal review process is very heavy on internal resources, and often there’s a lot of valuable research that is forgotten and never resurfaced.
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How does Coyote help?
Coyote has been developed to log and track the entire transaction process, from initial research through to completion; making the process faster, easier, and more efficient to manage. You can add relevant information, documents and notes to the opportunities that you log and run customized reports instantly.
The research and information attached to those opportunities which aren’t progressed is saved and catalogued, meaning Coyote helps you to build your own unique database of past introductions.
The Coyote platform provides you with the ability to track every single opportunity that has ever crossed your desk.
Throughout the due diligence process, we provide contextually relevant third-party data at the point you need it. For example, see live deal comparables from Radius Data Exchange in relation to the asset you are viewing, plus market research and insights from Infabode, and Land Registry information, without having to search for it.
Essentially, Coyote enables you to log all commercial opportunities efficiently, both approved and declined. It speeds up your due diligence process, enabling you to review deals faster – based on more insightful analysis, and ultimately speed up investment decisions.
In this Forbes Real Estate Council piece, Coyote Software CEO Oli Farago discusses what commercial real estate companies need to be doing to attract the best talent in the industry.
Read this piece on what it means to have "clean" data and why the quality of your commercial real estate data matters – not just the quantity.
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