Your Brain on Sleep

About The Sundance Company
Established in 1976, The Sundance Company has the experience to help you with your commercial real estate needs throughout the Boise Valley. If your requirements include property management, leasing, real estate development, project planning, construction or space planning then look to us. The Sundance Company has more than 1.5 million square feet of office and industrial space available in prime locations in the Boise metropolitan area. More information is available at www.sundanceco.com or 208.322.7300.

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5 Ideas for Automating Your Day

As a CRE professional, you’ve got enough to do in your day without having to do it over and over and over again. You know what we mean: from re-typing the same exact thing a zillion times to sending twenty emails to schedule one simple meeting.

Today, we’re simplifying your life with these five must-try tips for automating your day. Here’s how to free up more time for better things, starting right now:

  1. Never write it more than once.

Whether it’s an email or a proposal, you shouldn’t have to write out the same thing more than once. We recommend using a text expander like TypeIt4Me or Phrase Express to paste a full block of text into whatever you’re working on, all with a couple of keystrokes. So, for example, if you usually write something like: “Let’s schedule a call to go over this listing,” now you can type something like: “lets” and it’ll paste all of that in for you, saving you the extra keystrokes. Or if you tend to send the same listing info over and over to different people, you can name it “Listing 1” in your text expander and simply type that to put a whole block of text into your email or document. You choose the long text phrases or paragraphs you tend to reuse, assign them a shortcut, and let the text expander do the rest for you.

  1. Make marketing a little more automatic.

We love the simple genius behind Buildout: enter your listing info once and see it spread seamlessly across your website, proposals, marketing materials, and even emails. And now you can make the most of Apto’s integration with Buildout to make marketing even easier. You can create properties and listings in Apto and then publish them to Buildout with a single click. Everything—from your property images to relevant text fields—is copied over. You can then change your listing in Apto without having to do double the work in Buildout, because it’s all automatically updated each night.

  1. Don’t make the extra trip if you don’t have to.

Site visits and tours can suck up a lot of your time—and a lot of the time, they don’t pan out. So if you can give people more info about a property up front, you’ll end up with a smaller group of higher-quality prospects who are genuinely interested in seeing the real thing in person. Consider using time-savers like 3D tours to offer prospective buyers or renters a tour of the property without having to get into your car each and every time someone wants to check it out. Take a look at Matterport andGet3DTours for a glimpse of what’s possible.

  1. Simplify scheduling.

How many times has one simple question—like “When’s a good time to meet?”—turned into a 20-email back-and-forth exchange? Probably more times than you’d care to count. Cut down on all the back and forth with a simple scheduling tool that makes it simple for clients and prospects to book time with you online. Tools likeYoucanbook.me, Calendly and Assistant.to can do everything from sync with your calendar to send automatic follow-ups, giving you your time back.

  1. Get it signed and be done with it.

Tracking down signatures shouldn’t be so hard. With services like DocuSign, you can get everyone’s legally-binding signature in a matter of hours, without shuffling papers back and forth. Just upload and send the contracts, agreements, and documents you need signed. People can access and send them back to you from their computer, tablet, or smartphone, so it makes things easy from start to finish.

This article originally appeared on the Apto Commercial Real Estate blog.

About The Sundance Company
Established in 1976, The Sundance Company has the experience to help you with your commercial real estate needs throughout the Boise Valley. If your requirements include property management, leasing, real estate development, project planning, construction or space planning then look to us. The Sundance Company has more than 1.5 million square feet of office and industrial space available in prime locations in the Boise metropolitan area. More information is available at www.sundanceco.com or 208.322.7300.

Categories: Uncategorized

10 Sleep Relaxation Techniques You Need to Try

About The Sundance Company
Established in 1976, The Sundance Company has the experience to help you with your commercial real estate needs throughout the Boise Valley. If your requirements include property management, leasing, real estate development, project planning, construction or space planning then look to us. The Sundance Company has more than 1.5 million square feet of office and industrial space available in prime locations in the Boise metropolitan area. More information is available at www.sundanceco.com or 208.322.7300.

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Using Agile to Increase Productivity in CRE

“Now agile methodologies—which involve new values, principles, practices, and benefits and are a radical alternative to command-and-control-style management—are spreading across a broad range of industries and functions and even into the C-suite.” – “Embracing Agile” by Darrell K. Rigby, Jeff Sutherland, Hirotaka Takeuchi. Harvard Business Review, May 2016

Agile is by far the most commonly used methodology for software companies. But why? It’s not something that’s specifically for software companies. Anyone can use Agile.

In the 2017 global survey  “The State of Scrum,” executives from the Forbes Technology Council cited the benefits of Agile as:

  • Faster feedback
  • Ability to adapt to change
  • Problems identified early
  • Flexible prioritization
  • Team purpose

Sounds helpful, right? And if you read any business press or newspaper (Harvard Business Review, Forbes, New York Times) you’ll find articles discussing Agile outside of engineering and IT.

Which got us thinking…can Agile work for CRE? We’ve examined how brokers can be more efficient with different productivity and prioritization frameworks, so we wanted to dig into one in particular.

What is Agile?

The Agile Manifesto was created in 2001 by seventeen technical experts who simply wanted to find a better, and more humane, way to build complex software systems.

At its core, Agile is a mindset. Agile is a way of thinking that influences attitude, culture, and leadership styles. This mindset is described by four values:

  • Individuals and Interactions over processes and tools
  • Working Software over comprehensive documentation
  • Customer Collaboration over contract negotiation
  • Responding to Change over following a plan

The values are underpinned by the 12 principles, from flexibility in changing working requirements to simplicity and efficiency.

In the CRE industry, you can think of the “deliverable” unit of value as a deal. Development of that value involves prospecting, nurturing relationships, and building expertise as a trusted advisor in speciality market segments. When you frame your work around those concepts, the Agile values and principles suddenly apply easily to CRE brokers.

Think about it through this lens:

  • Individuals, relationships, and interactions over processes and tools
  • Working deals over comprehensive documentation and paperwork
  • Customer collaboration over contract negotiation
  • Responding to change over following a fixed plan (especially in the contract phase when dates and deadlines become very important. If you miss a key date it can be costly and even void the contract.)

 

4 suggested Agile practices for CRE

Here are some common Agile practices that already translate well to the commercial real estate industry. If you don’t already do these, consider giving them a try!

1.Daily stand-ups (aka daily scrum)It’s common for broker teams to have meetings to sync up. Think of the Monday morning powwows that review all deals in flight, the backlog of future work, and what has closed. If you don’t already do this, think of how easy and helpful it would be to meet for 15 minutes to determine who is doing what.

Note that these are called “stand-ups” because the meetings aren’t held in a conference room where everyone sits around a table. Physically standing during the meeting helps things move more quickly. They shouldn’t be overly formal, but are meant to keep everyone on the same page and moving forward with their work.

  1. Cross-functional teams
    Agile software teams always include the skill sets and expertise required for the team to deliver on work. Similarly, broker teams can include a mix of senior and junior brokers, admin support, researchers, and marketing. (If you haven’t hired a team yet, you can read more on hiring a junior broker or building out a larger team.)
  2. Retrospectives
    Teams should regularly meet to talk about how to improve. Agile teams employ the concept of Kaizen or “continuous improvement” in their working lives. Try taking a Friday afternoon to regroup and talk about “pluses” and “deltas” from the week—or what should be changed and what could be improved for next time.
    4. Tracking work on boards
    Our previous post described KANBAN boards and work tracking. CRE teams often have Deal Boards, which may be physical sticky notes on a wall, a spreadsheet, or a CRE deal tracking tool. In using KANBAN, Agile teams will have daily stand-ups by the actual board and will review and move tasks that way.

Other companies and teams using Agile

Agile has been widely adopted outside of product development to different organizational departments and into different business sectors. National Public Radio uses Agile methods to create new programming. John Deere designs and develops new machines using Agile. Saab uses Agile to produce new fighter jets. Other companies use them in marketing, human resources, and sales. Mission Bell Winery uses agile techniques for everything from wine production to warehousing to running its senior leadership group.

If it works for them, it could work for you! Let us know in the comments if you put any of this into practice on your team.

This article originally appeared on the Apto Commercial Real Estate blog.

About The Sundance Company
Established in 1976, The Sundance Company has the experience to help you with your commercial real estate needs throughout the Boise Valley. If your requirements include property management, leasing, real estate development, project planning, construction or space planning then look to us. The Sundance Company has more than 1.5 million square feet of office and industrial space available in prime locations in the Boise metropolitan area. More information is available at www.sundanceco.com or 208.322.7300.

Categories: Uncategorized

The Evolution of Communication

About The Sundance Company
Established in 1976, The Sundance Company has the experience to help you with your commercial real estate needs throughout the Boise Valley. If your requirements include property management, leasing, real estate development, project planning, construction or space planning then look to us. The Sundance Company has more than 1.5 million square feet of office and industrial space available in prime locations in the Boise metropolitan area. More information is available at www.sundanceco.com or 208.322.7300.

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In the Flexible Space Market, One Size Does Not Fit All

When the co-working concept was first introduced, it was to the advantage of the growing number of startups that were giving rise to NYC’s Silicon Alley, as those spaces served as much-needed incubators for the companies that had yet to graduate to independently leased offices. The success of companies in this line—most notably WeWork—helped to launch the concept of what we know today to be the sharing economy, which has given us such iconic brands as Uber, Airbnb and Rent the Runway, among an ever-growing list of others spanning dozens of business lines.

In the office market specifically, the sharing economy has resulted in the proliferation of what is known as the flexible space market—offices and meeting rooms meant for short-term use by individuals and companies alike. The flexible space market can be broken down into three primary segments, each offering a different product and value depending on the building and the clientele being targeted.

“When I’m looking to bring flex space into a building, my top priority is to determine which operator makes the most strategic sense, in terms of the amount of space needed and how it will be used—not every operator makes sense for every building,” said Michael Rudin, senior vice president of Rudin Management, which has worked with a number of flexible space providers, from WeWork to Breather. “When we’re introducing flexible spaces, we want them to be used by our tenants as well as others. It’s of the utmost importance to evaluate the existing tenant mix and long-term vision for the building, so we can ensure the operator we sign on is a fit for the most logical use of the space.”

Providers have also noticed a paradigm shift among office landlords. “Recently, we’ve seen landlords starting to view flexible workspace differently, as a way to attract new tenants and capture different users,” said Hank Jonap, director of real estate at Breather. “Tenants, meanwhile, are listening to employees and adjusting to today’s needs—they understand the that flexible space provides a convenient option and an overall space solution for today’s workforce.”

So, what is it that the various flexible space models offer? And, how can landlords and clients determine which is the best fit for them?

Co-Working: For the Young (Company) at Heart

The co-working model offers freelancers and startups the opportunity to share large spaces with a number of other companies with the goal of fostering a collaborative, creative and vibrant environment conducive to long-term growth. Champions of this model include the likes of WeWork, Regus and Knotel, which places a particular emphasis on providing companies with headquarters spaces.

These companies lease large floor plates and tend to be best suited to young companies that have not yet matured (or hired enough staff) to fill an expensive office. Typically rented on a monthly basis, co-working spaces are viewed as a long-term space solution. While this is the norm, it should be noted that there are exceptions to the co-working rules as more and more enterprise clients look to co-working space solutions for their business. This occurred most notably late last year in WeWork’s landmark deal with IBM to manage the tech giant’s 70,000-square-foot space at 88 University Place.

The primary advantage for landlords is that the co-working sector is one of few that is still hungrily leasing huge office blocks, making these operators the perfect fit for buildings where there is a lot of contiguous space available. On the flip side, these spaces have a high impact on building resources, including utility usage and foot traffic.

For co-working clients, these spaces can offer a great place to establish a footprint for growth that fosters a sense collaboration and camaraderie with other companies and offers well-designed spaces that would otherwise be out of budget. The disadvantage is that it can be hard to find quiet spaces to focus, as by nature co-working spaces are louder, more bustling environments than the typical office.

Offsite Meeting Room Providers: When You Need a Flexible Change of Scenery

The real estate industry took note of the offsite model in 2017, elevating the level of space and options available to companies looking for dedicated space to host team brainstorms, client meetings, small events, focused individual work, product sprints and spillover space. The leading operator in this space is Breather, which in 2017 saw more than 200,000 square feet added, taking its portfolio to 500-plus distributed meeting rooms across its 10 markets.These providers offer truly short-term solutions, secured and paid for on an as-needed basis, for durations ranging from one hour to a few weeks to several months. Breather notes that the sweet spot—so far, at least—is around one to two days at a time but continues to expand its product offerings.

While specialization in offsites is a more recent invention, the concept of hosting meetings outside of the usual office environment isn’t a new one. In the past, companies relied heavily on hotel conference rooms and restaurants to serve this function. But what the founders of Breather noted was that these spaces tended to be dark, outdated and lacking in consistency from one property to the next. Offsite operators were founded in answer to both the bustling co-working model and the outdated conference room options—providing a well-designed, quiet, tech-enabled space to focus that is completely private.

These providers lease smaller floor plates than their co-working counterparts, focusing on identifying niche areas in buildings where they can elevate the landlord’s offering in a low-impact way—serving as a building amenity that also provides revenue.

“While there is an audience for each flex space offering, what makes Breather stand out is our hands-on approach, our design and management of each space, which allows us to provide a consistent experience for our clients on a global level,” explains Jonap.

Peer-to-Peer: Making Use of Excess Space

The final piece of the flexible space puzzle has provided welcomed assistance to companies with excess space looking to offset their real estate costs. Peer-to-peer operators like LiquidSpace have, in a sense, become the Airbnbs of the office market.

As companies increasingly seek to consolidate space, and as the remote workforce continues to grow, firms are often left with unused space that can easily be monetized to help counterbalance overhead costs. These models allow companies to place their unused space on a centralized site, which individuals and companies can rent on an as-needed basis. Price points for these spaces tend to be lower than other options, though the quality of spaces being offered will vary widely, as will the level of privacy available.

“Each model has a place in the market, as this is not a winner-take-all industry. Companies can really take advantage of the flexibility to find what best suits their needs,” said Rudin.

Jonap agrees, noting that “by offering companies the chance to tailor their spaces to their needs, not just physically but through agreements which offer long term-flexibility without long-term commitment, Breather has created a truly flexible, space-as-a-service option for evolving companies, the value of which cannot be overstated.”

This article originally appeared on the Commercial Observer website.

 

About The Sundance Company
Established in 1976, The Sundance Company has the experience to help you with your commercial real estate needs throughout the Boise Valley. If your requirements include property management, leasing, real estate development, project planning, construction or space planning then look to us. The Sundance Company has more than 1.5 million square feet of office and industrial space available in prime locations in the Boise metropolitan area. More information is available at www.sundanceco.com or 208.322.7300.

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7 Techniques to Remember Anything

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About The Sundance Company
Established in 1976, The Sundance Company has the experience to help you with your commercial real estate needs throughout the Boise Valley. If your requirements include property management, leasing, real estate development, project planning, construction or space planning then look to us. The Sundance Company has more than 1.5 million square feet of office and industrial space available in prime locations in the Boise metropolitan area. More information is available at www.sundanceco.com or 208.322.7300.

Categories: Uncategorized