Agorafy - More quality inventory and more deals
When I started to expand Dumann Realty beyond the first group of agents, I understood clearly that my agents needed a detailed database of every retail availability in Manhattan, quite simply more inventory.
Asking each agent to canvass Manhattan on a rotating schedule allowed them to learn each neighborhood's characteristics and pricing, spot opportunities, and contribute to our internal database from which everyone could benefit.
Not just listings, but verified listings with prices and availability. When you have high quality inventory information, it is easier to work more efficiently, learn the market, serve your clients, and turn potential into success.
To make the story short, each agent would do their small percentage of the work and collectively derive 100% of the benefit. A simple illustration: each snowflake is unique and fragile. If you place a snowflake into your hand, it will dissolve and melt away. But, if you put them together, it can form a simple snowball or an avalanche, becoming incredibly powerful.
It is the same for real estate agents, if your firm isolates your agents, he or she will melt away and fail. But, if you put them together, they can achieve much more, work together and close more deals. To expand beyond a singular firm and look at the commercial real estate market as a whole, when every agent from every real estate firm cooperates and works together, the market is stronger and everyone benefits.
The same is true for information, small amounts of inaccurate, segmented information is very weak and unreliable. However once this information is centralized, verified and made available to everyone it too become incredibly powerful.
Agorafy works with property owners and brokers to bring a mountain of segmented commercial real estate data together in one centralized location which can be accessed from anywhere, eliminating the need for brokers to aggregate and verify on their own.
This saves professionals time and provides them the ability to focus on what they do best-identifying opportunities, servicing clients, and negotiating and closing transactions.
Agorafy believes every firm and their agents should work together, and reap the benefits. With our open platform we are striving to increase cooperation and transparency. This creates market efficiency, enables price discovery and boosts space absorption.
This summer Agorafy will be expanding its platform beyond commercial listings and will expand to residential availabilities. This will further our long term goal to provide a crystal clear profile of every building in Manhattan and allow professionals to access high quality data they otherwise wouldn't have access to.
Richard Du is the founder and CEO of Agorafy, New York, N.Y.
Story ran in the New York City section on 06/25/2013