By Dan Orlando
Nestio, the 2011 TechStars product that streamlines the inventory management process for landlords, released the “Broker Dashboard” last Tuesday after announcing the product’s debut at the Gansevoort Park Hotel.
Nestio provides real estate professionals with a unified network of rental property listings that updates in real time, thus saving industry professionals from wasting time pursuing deals on already-claimed spaces.
Ashley Wirkus, the residential leasing director of Two Trees Management, was one of the brokers invited to sample the product before its general release. Wirkus championed the Dashboard, claiming that it brings “extreme efficiency” to the everyday operations of leasing agents.
“Everything is in one easy-to-use platform,” Wirkus told Brokers Weekly while comparing the information sharing between brokerages and landlords prior to Nestio to “pulling teeth.”
The Broker Dashboard notifies brokers immediately when a property has been taken off of the market, ideally shielding brokers from spending an afternoon researching or showing a space that was claimed as early as that morning.
Jordan Sachs, CEO and co-founder of BOLD New York, echoed Wirkus’s sentiments.
Having also tried the product early, Sachs said that the conventional methods of managing inventory often included landlords checking in as infrequently as twice per week to notify his office that properties were no longer up for the taking. Even daily phone calls from owners led to brokers in the same firm running into conflicts.
“The entire company gets an email the minute a status changes,” Sachs said. “90 percent of the brokers here are commission-based. Efficiency in our business is everything.”
Sachs also said that Nestio saves his firm money, as it now handles the same inventory list that BOLD previously tracked with multiple subscription databases.
“From a technology standpoint, you’re absolutely going to be removing yourself from the subscription bases that you’ve been using.”
Sachs said that ultimately, the product is a cost-saver in itself that simply aids brokers in their daily routine.
Nestio currently serves 30 percent of the landlords in New York City and is now used in several leading brokerage houses including Two Trees Management Co. LLC, Olshan Properties, Century 21, among others.