Great Asset Management & Leasing Tool

Pros

VTS is a great Asset Management and Leasing Tool. It allows an asset manager to physically see the real-time leasing activity, stacking plans, lease roll, and more. VTS neatly organizes all the leasing activity in one location, allowing me as a leasing broker to visually see the deals I am working on and continue to move the ball forward with each one. Tying it into the landlord's lease administration software allows me to look up lease expirations, stacking plans, and encumbrances for quicker and more educated response times. This has been the most helpful piece of new technology for office landlords and leasing agents in the last decade.

Cons

I am having a hard time finding something I like least about VTS, as it is a great tool that all listing brokers and landlords should be using.

great product - still transforming

The main business function I am filling is tracking my tenant leads. I have yet to figure out and use the reminder functions . .i.e. that when a lease is coming up I get a notice to call. I am sure its easy to do, but I haven't been able to figure it out.

Pros

I like the ease of use of tracking our tenant leads, in conjunction with the app, I use it every day in my brokerage business.

Cons

There are issues with "who controls the data"; with our clients who use the program, we can' t make a lot of changes to the other pieces of info (stacking plans, lease expirations, etc.) and so often that info will become incorrect. I don't use a lot of those functions as it seems cumbersome to keep it all up for the limited amount of benefit I get out of it. Also, another issue is that when we move a tenant to "dead", there is no way I know of to go back and do a forensic analysis report showing which ones toured, made offers or which ones didn't. This is important when we are trying to show clients how many tours etc. we had. But, again, maybe there is a way to do this I can't figure out.

Broker friendly features needed

VTS is almost there. Our clients love it in order to keep all of their portfolios in queue, but for brokers it can be cumbersome to keep accurate information at the forefront.

Pros

With properties we do have on the software, it becomes very easy to track multiple deals at once and stay on top of current prospects.

Cons

The interface is not broker friendly. When inputting terms for a deal including several different term options, it does not create a way to track different terms separate. Also, the commencement dates and RSF do not track over from the original form to the proposal form. Oftentimes when inputting the free rent VTS forces you to input it twice instead of once. If you could automatically put commissions in for all deals to auto-populate that would save a considerable amount of time.

VTS Review

VTS has solved one of the biggest problems in commercial real estate; keeping track of activity and the different stages each prospective tenant is "in". We have eliminated multiple spreadsheets, word docs and other forms of tenant tracking by using VTS. At any time, we as brokers, or our Landlord clients can see where we are at with any tenant in real time. It's a very valuable tool for us as users and for clients (potentially as users) to stay on top of everything at every project in a fairly simple manner.

Pros

This software is by far the easiest to use and most complete way to track listing activity (prospects, tours, proposals, etc.). VTS offers many fields to input information to in a way that our Landlord clients appreciate. Overall, VTS is a simple to use platform.

Cons

Some of the features are cumbersome, especially when adding to, or updating spaces available for lease. It seems that the user must go through several steps to get to the end result (i.e. - adding a space under a property listing; you have to click and go through a couple screens to successfully add a property).

A Key to our Leasing Success

VTS has been a great partner to work with. They are open to, and encourage, our input. The constant drive to improve and to be on the cutting edge of CRE technology is an important feature for us, and separates VTS from the pack.

Pros

This package is focused on commercial real estate; others we considered were CRM or accounting programs that had a component of CRE. VTS helps my team with communication and productivity, and keeps everyone up to date with the latest status on deals in progress, prospecting, and overall results.

Cons

VTS is constantly improving and addressing areas that need additional development. Some of the areas that were not strengths have had enhancements and improvements, so areas that we didn't like as strongly have been or are being addressed.