The Most Important Tech Tool, Now and Forever

It’s not a trick.  There really is only one tech tool you can’t do without.  It’s your brain. Why is your brain the most important tool?  Because it’s the only tool that can make sense of pertinent incoming data about how you do your best work to serve your clients and then enable you to use that data to create and automate meaningful processes.  Nothing works like the brain when it comes to specifically handling your world.  Nothing.

Many of you could be running your company or department with more focus on the power of technology and how it positions you to compete better, but technology has to come out of the back room.  It’s your technology that should enable you to give better customer service than anyone else.  It’s your technology that gives you the speed to make things work smoother and with greater accuracy.  So why should all of this stay in the background?  Frankly, it shouldn’t.  Please, please don’t say; “Oh I’m just not technical,” or “I just don’t get it,” or “I leave that to someone else.”  If you’re going to be in commercial real estate, you need to use your brain when it comes to technology.

As I’m out meeting and speaking with people in the commercial real estate industry, I’m frequently asked why/how we got involved in technology.  For me the quick answer is easy.  Commercial real estate is hard to describe without photos, and before the Internet, sharing images was a challenge.  So that was our start nearly 15 years ago.. we built software that put photos with text to describe real estate better and faster.  That simple idea combined with a roadmap for how to accomplish it, launched our company into technology.

In talking to people, I think there are two main reasons they say things like, “Oh, I just don’t understand all that tech stuff.”  First, they somehow believe it makes them sound more personable and strategic, (because after all, we all know anyone who likes technology is boring and is relegated to the bottom of the flowchart in most companies).  Or secondly, because they don’t understand it, it’s a little frightening, and they don’t want anyone to know they have fear of anything.  Because I like people and technology, I typically brush past these types of statements looking to see what’s behind them.  Only then can I assess if someone just wants some insight.  If so, I give it.  If someone wants help getting something done, I do it.

So what if you are one of those who want to take advantage of the best tech tool around and you’re willing to invest in the equipment to participate?   You’re the type that is smart enough to put that good old gray matter that is yours and yours alone to work.  Here are a couple of tips to get you started.

1.    Talk to people who do what you do, examine what you like about what they’re doing – those “tech” things that help them successful – and mimic how they did it.

2.    Focus all your efforts on how to make things better for your customer.  Even if its internal operations you’re automating, make sure everything comes down to an improvement for those you serve.

3.    Map out the whole process, a sort of customer workflow.  A good way to do this is by starting at the beginning and examining the process from prospecting to client satisfaction.  You need to identify the problem and what you do to solve it and how to make that process easier.  Draw the process.  Don’t’ type it out.  Using a whiteboard is okay, using pencils is okay, but you’ll get bonus points if you use crayons with lots of color.  You’re looking for a map with lots of arrows and lines going in lots of different directions.

4.    Once this is done, make circles around the areas that take place using technology you don’t fully control and/or understand.  Make X’s through things you can eliminate by automating.

5.    Make circles in a different color around all the parts of the workflow that you fully control (your website, your virtual office, email, your blog, and so on).

6.    With the drawing complete, you can map the direction you want to go and start to plan for getting the help you need along the way.  Just keep thinking about your clients.  Think about the value you can bring to them.  Let that guide all your decisions.  If you implement the correct technologies, it will be fairly seamless to those who utilize it.  And remember, just because the technology you implement is in the background doesn’t mean it’s not adding immense value.  Trust your brain.

We have one filter that we use in our company – Streamlining Commercial Real Estate.  We use it as our tag line so it stays in the forefront of everything we do.  People in commercial real estate make money when something is completed.  Whether it’s a sale that closes, a lease that is consummated, a loan that is booked, a market study or appraisal that’s delivered, a new user successfully moves into space or any multitude of processes.  Until the process is complete, the money doesn’t hit the bank.  Streamlining how that process works puts money in the bank faster, and I don’t need to tell most of you, the sooner the money goes in the more value it has.  It is the best indicator that we’re doing a good job serving our customers.

Downtown Camels and…

By:  Jeff Hicks, President, The Dohring Group

It’s definitely hot enough for dromedaries, (camels), but I am really talking about CAMLS, a proposed $20 million Center for Advanced Medical Learning and Simulation office building by USF, adjacent to the Fort Brooke parking garage and Hyatt in downtown.  The purchase of the site is anticipated to close in November 2010, at $65 per square foot, with the only concession by the City as the seller being $150,000 of environmental remediation.  Construction work, hotel deal, ongoing supporting services to the doctors and staff?  Sounds like opportunity to me.

New parking meter kiosks in downtown  were just approved.  About 1,000 meters will be replaced by 146 multi-space kiosk meters.  The convenience of credit and debit cards in addition to coins is a big plus for downtown visitors.  Local businesses have often complained about the “old-school, have a pocket full of quarters” meters.  If St. Pete can vote to get rid of their ugly, inverted Pier pyramid building, Tampa can also respond with some positive changes.  Word has it St. Pete may follow suit on the meters.

Brick huggers and private property owner Doran Jason have historically banged heads in a non-productive dance regarding the Kress block. It looks like the City is stepping in as the responsible parent to attempt to negotiate a settlement that promotes the best outcome for all parties.  The property owner has missed two real estate cycles in the past 20 years and the City hopes to change the Development Order to facilitate something actually happening to this blighted block.  Otherwise, we can walk past the Kress building and say the same thing we have for the past two decades, “When is somebody going to do something with that building?”.  By the way, the two derelict buildings that flank the middle Kress building are not worth saving (think St. Pete Pier), but there’s a way to memorialize and pay respect to their historical significance.

Downtown Tampa is taking continued positive steps in the right direction.  If you have not been downtown lately or you work downtown but drive in and never leave your high-rise, you might be surprised.  There are lots of nice restaurants, a riverside pavilion bar next to  the Convention Center, bike rentals, public art, boat rides, a beautiful museum and park – Curtis Hixon, casual yet trendy waterfront café-SoNo and people walking dogs.  Yes, there are lots of people actually living downtown.  One new sign of businesses taking up the charge to support the new climate is Fresh…a new restaurant concept offering cereals and Panini’s.   So get outside, come downtown, be a camel and walk around, but forget the quarters.

Where are We?

Ok, what do we know?  We know that more and more people want to live and work in urban spaces.

Consider this from ULI/PWC Emerging Trends in Real Estate…

“Next-generation projects will orient to infill, urbanizing suburbs, and transit-oriented development. Smaller housing units -  close to mass transit, work, and 24-hour amenities – gain favor over large houses on big lots at the suburban edge. People will continue to seek greater convenience and want to reduce energy expenses. Shorter commutes and smaller heating bills make up for higher infill real estate costs.”

What this tells us is that cities have better than average prospects for emerging from this real estate recession.  And guess what?  It’s not the big things that are going to occur, it’s the small; small, but important changes and small businesses.  Small business is the backbone of Florida’s economy and it’s the backbone of its downtowns too.

I won’t lie to you…I’m biased. I’m passionate about downtown Tampa because this is our home territory.  While we know other Florida urban locations well, we really know Tampa’s urban areas and that includes Westshore, Ybor City, South Tampa, West Tampa, Channelside and yes, even East Tampa…by all accounts the most difficult urban area, but one that offers a lot of opportunity.

All of these areas will benefit as we improve our transportation and think multi-modal.  It’s especially important in the downtown sector where you want to go from block to block, and many times find it a little too far “off the GRID” to walk and too much trouble to pull your car out of the garage or daily parking spot.

We’re going to use this column space to talk about things you tell us are important.  And as we embark on this we’ll be talking a lot about perspectives, truths and myths.  Let me start with the big one….one that happens to be a myth.  The myth that parking is a huge problem.  While it is a problem because it is clearly not as convenient as some suburban locations, there is generally enough of it and the convenience is improving.

To start with, let’s look at public parking.  The city has 3,000 metered spaces, 11,500 off-street spaces and 9 parking garages.  The City is expected to roll out “smart meters” this year for street parking.  You’ll be able to still use coins, but most importantly you’ll be able to use debit and credit cards.  We’re hoping they manage to also offer a pay-by-phone option which would allow a driver (you’d need to be signed up for the program) to pay to park by calling a toll-free number, entering the location and desired time, and the parking cost will be charged to the credit card on file.  Under this type of system, drivers could choose to set up text message alerts when time is winding down, or call from any phone to add meter time.  Now that’s cool.  And even if the “pay by phone” isn’t a part of the ultimate plan, the more rudimentary smart meters are coming and coming soon.  So, how’s that for dispelling a myth?  Since you may not be a regular urbanite, we’ll keep you posted on the rollout date.

So, how do you see downtown Tampa?  What are your thoughts about the trends in urban neighborhoods?  Let us know what is on your mind and we’ll start the discussion right here!

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