Commercial real estate investors, landlords and tenants often rely on anecdotal data and outdated general market reports to guide their decision-making processes.
The result? A lack of market intelligence that’s especially important in a fast-changing market.
That’s according to Nathan Sapsin, head of data products at VTS, an NYC-based commercial real estate tech company. Through its latest product, VTS Data, the company hopes to change the status quo around real estate data.
The new platform offers brokers and property owners a view into the real-time demand and supply of available spaces using data pulled from VTS’ leasing solution, which has brokered more than $200 billion in transactions, according to the company. With data that refreshes about every 24 hours, VTS Data aims to help its users to identify and predict market trends and inflection points in real time by showing a more complete and current picture of market demand.
“Commercial real estate is one of the last major industries where people are making important decisions on backward-looking and lagging indicators,” Sapsin said. “Timely data intelligence is now a crucial element for every business decision especially in times of uncertainty, like where we are now during the pandemic.”
Built In NYC connected with Sapsin, who joined VTS to lead the release of VTS Data, to learn more about the company’s latest product.
MEET VTS
Tell us about VTS Data. Has this been on VTS’ to-do list for a while?
Market participants in commercial real estate are typically used to working with lagging information and classic data indicators that have been around forever. We are here to change that and provide real-time and highly differentiated insights that were never available anywhere before. This data journey began many years ago, and we continue to accelerate and scale our effort to unlock the industry’s first forward-looking data for our customers. Our company’s mission is to be commercial real estate’s modern operating system, and the place where deals happen and real-time data comes to life. Our release of VTS Data is another step toward that.
Our company’s mission is to be commercial real estate’s modern operating system.”
What’s VTS Data’s impact on your users?
The platform provides timely intelligence whether you are leasing, acquisitions or asset management, and we also provide highly differentiated insights on tenant journey in commercial real estate. Our users — commercial real estate investors, landlords and tenants — have been very excited about the products and are eager to engage with us.
Especially during this time of COVID-19 uncertainty, our data products provide a sense of comfort for our customers. Whatever business decision they are making, they can make the optimal decision based on the most timely and accurate data available in the industry. Also, to achieve a high degree of accuracy, we are intensely focused on a market-by-market approach rather than a national approach.
VTS PRODUCT LIBRARY
- VTS Leasing: Automates leasing and asset management while providing real-time deal and portfolio analytics.
- VTS Market: Provides integrated marketing solutions like virtual tours and engagement with tenants for landlords and brokers.
- VTS Marketplace: Offers tenant reps access to a free, all-digital marketplace of commercial listings.
- VTS Data: Leverages data from VTS Leasing to give real-time insight into commercial real estate demand and supply.
With the rollout of VTS Data, what opportunities are there for someone interested in joining VTS?
As with any new products, there is sometimes an educational element for product adoptions, but our teamwork at VTS is amazing. We are all willing to roll up our sleeves and passionate about providing the most timely and accurate data intelligence for our customers. This year, we’ll be focusing on both prescriptive and predictive data intelligence. If you want to change the status quo and make a difference in the industry, join us.
