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.
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.
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?