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Site Feature:Principals Market

I am always on the lookout for new, fresh and innovative ideas for commercial real estate and recently explored a new site, Principals Market (http://principalsmarket.com) | The Marketplace for Commercial Real Estate.  They added some additional features to the site this week with more forthcoming shortly. Please take a look at the site and post your comments.

What is Principles Market?

Principals Market is the Marketplace for Commercial Real Estate (CRE), providing a unique and simple platform for members to market needs, services, experience and opportunities to industry colleagues. Principals Market directly connects Principals, capital providers and industry-related professionals in one central Commercial Real Estate Marketplace.

What makes your product special?

Principals Market saves time, increases efficiency and productivity and accelerates deal flow.  Our site uses proprietary tools including “The Wall,” whereby members create Wall Posts to market and promote their needs, services, experience and opportunities. Wall Posts are categorized and simple to create and find. Posts consist of available properties, capital needs or abilities, industry reports, PR announcements, investment criteria and more. Members can search for Wall Posts of interest defined by simple search options.  Member Profile pages are also unique in that they are industry specific and include select CRE ʻMarket Cardʼ information. Finding desired industry professional specialties – Principals, capital providers, brokers or various service professionals – are easy to find and lead to more productive CRE connections.  We also introduced this week, ʻMarket Buzzʼ @PrincipalsMkt. Market Buzz delivers real time commercial real estate news to our Members home page through our Twitter profile and includes only relevant industry information and opportunity; allowing our members to focus on business development and deal flow while staying in the know. Lastly, our site is free to join.  We do not charge members for content or connectivity.  Members can post their available property, investment criteria, PR announcements, etc without restriction.  Members wanting to use some of our additional productivity tools may upgrade to a Premier account for a low monthly fee.  These time saving features include customizing ‘Market Watch,’ whereby members can save their Wall Posts or Member Profile searches so that future Posts or Profiles matching their search criteria will be delivered to them.

What are some examples of real world use?

We have numerous examples but a poignant one would be a Wall Post by a Holiday Fenoglio Fowler (HFF) investment sales team in Dallas. These CRE professionals posted an ʻAnnouncementʼ on The Wall regarding a new listing they had secured that included over three million square feet of industrial product in Texas that would be put on the market for sale. This PR announcement was a prelude to the investment offering they would later post on The Wall and distribute to HFF clients. As a result, a California based Principal who had recently closed on a large multi-state industrial transaction saw HFFʼs Wall Post and connected with the HFF professionals through Principals Market. The Principal became a registered client of HFF for new opportunities and pursued the portfolio in the process. This relationship was cultivated through the Principals Market platform and was simple and effective to execute. By creating one central Commercial Real Estate Marketplace, Principals Market provides the ability to expand industry relationships and opportunities increasing productivity and deal flow.

How does your product compare to it’s competition?

The commercial real estate industry is vast and varied with fragmented connectivity for a relationship driven business. The means of communication has historically been highly inefficient and generally reliant on existing relationships for expansion of new business. Previous solutions to create a central marketplace have generally been through numerous networking ‘Groups,’ that are frequently redundant and fail to yield productive results.  Industry research concluded that many commercial real estate professionals become overwhelmed by the clutter of Groups correspondence and often remove themselves from group memberships to reduce the redundancy of communication and lack of return on investment.  Principals Market was created out of frustration with the existing status quo.  A successful commercial real estate enterprise is based on industry relationships and knowledge of opportunity.  Principals Market provides the first of its kind marketplace for CRE professionals to efficiently and effectively market needs, services, experience and opportunities. Whether you are Principal in need of an equity partner, a service professional trying to expand your clientele or a capital provider looking to place equity or debt, Principals Market provides the platform to market those needs or opportunities and facilitates productive relationships through one central Commercial Real Estate Marketplace.  Principals Market provides the most powerful tool out there for CRE professionals to expand business development, increase productivity and accelerate deal flow. (http://principalsmarket.com)

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  • AB

    sounds like a logical idea. a lot of this information is not really obvious when looking at the site. rather than just asking someone to sign up they should be prompting a first time visitor to ‘announce’ or ‘share’ some piece of information. they should also mention who they are.

    great to see the innovation. thanks for sharing Duke.

  • SE

    I’m a member of the site and think it’s a great tool. I’ve already gotten a number of leads for potential business opportunities through the networking and Wall posts.

  • Sanjiv Saste

    I’ve been a member of Principals Market for a few months and can honestly say that the people I’ve met have been instrumental in providing ideas, opportunities, and targeted networking especially in my field of interest which is private equity investments. Since all of the members are qualified, I’m only contacted by people who have similar business interests. The site provides a timely platform for those of us who are used to the old method of fingering through a rolodex blindly hoping to catch the right person at the right moment. Thanks for the article Duke.

  • Mike Dorris

    I’m a PM member, too. I like the efficiency of a one-stop online social network for commercial real estate folks (and only commercial real estate folks). Less fat, and more beef.

  • Robby Rieke

    To the Principals Market team,

    You guys have done a great job with the site and I really like the layout/ease of use and the potential of sourcing future buyers/sellers through the website. Keep up the great work!

  • Gotta say I like the User Interface – it’s a lot cleaner than every other commercial real estate socnet and it’s not built on NIng! The homepage is reminiscence of LinkedIn’s where you have to sign up which might deter some people giving more info for another network.

    I think they could make a few tweaks to the homepage even after log in like Alan says. Maybe some talking points or videos, other kinds of media.They’ve done a great job in pulling in feeds. I know I’m bored with the real-time info these days (ie: FB, Twitter, et al), need a break so I like how they have all the top stories in one place.

    More communication on posts would be nice, have to have a reason to comeback to the site.

  • We thank you for your feedback and appreciate the kind comments!

    We have just added a public ‘Directory’ which lists the external URL pages for Member Profiles and non-restricted Wall Posts. These pages can be found in search engines and can be shared, tweeted, etc to further expand the marketing efforts by our members. An example would be this recent HFF ‘Announcement’ Wall Post: http://t.co/xP2thlk

    Keep an eye out for more of our new features and stay in the know with our Market Buzz – only CRE related information without the ‘noise!’

    Principals Market | The Commercial Real Estate Marketplace
    http://principalsmarket.com

  • I can tell you first-hand that I’ve benefitted more than once from being a premier member of PM. To name two, I recently posted an Announcement of a recent apartment purchase by our firm, and soon thereafter, I was inundated with a number of inquiries about our firm and the purchase and subsequently, I have had many attractive off-market purchase opportunities placed in my lap that I would not have had otherwise. The other example came from a Wall Post that I shared of an immediate purchase requirement that my client had and the response was immediate, abundant, and best of all, they were from professionals that were educated in our particular arena and knew the proper protocol. That’s probably the biggest benefit of PM…more effective communication and productivity with less inefficient chatter from folks that have no business touting their wares/ideas/ramblings in a CRE playing field.