Via News Release
“MINNEAPOLIS and DALLAS (June 5, 2018) — Crelow, the commercial real estate software company that pioneered the use of technology to match commercial tenants and landlords in six markets across the U.S., relaunched today as DealBoard.org.
The new company uses proprietary technology to match tenant space needs with available properties with the help of brokers who use the system to exchange information.”
Commercial brokers in the Dallas-Fort Worth market are the first in the nation to deploy the new DealBoard technology. Working under an agreement between DealBoard.org and the North Texas Commercial Association of Realtors and Real Estate Professionals (NTCAR), regional brokers are using DealBoard.org to share space needs and leads with each other online. At the same time, NTCAR is sponsoring a public-facing website to allow tenants to use DealBoard.org to find their ideal space with the help of brokers. There is also a broker matching service on the site that is free for tenants, who no longer have to go it alone to address the challenge of finding the right space for their business.
With more than 2,500 members, NTCAR is one of the largest regional associations of commercial real estate professionals in the U.S.
“DealBoard.org is not a listing service but a matching service,” says Jim Simpson, CEO of DealBoard.org. “You identify your needs, and real estate pros respond to your demands with properties that match. It’s Uber for commercial real estate.”
“DealBoard.org is a game-changer for us in North Texas,” says Jeff Brand, 2018 President of NTCAR and Managing Partner of Brand Partners in Dallas. “DealBoard.org enables our members to serve their clients with even more speed, efficiency and precision results, and makes the real estate market more accessible to small and large businesses that are unrepresented.”
NTCAR is a former Xceligent customer that relied on the company, which shut down late last year, to manage and maintain commercial property information on the local market. In the absence of Xceligent and with an eye toward providing additional value to NTCAR members, the organization sought a new approach to help their broker-members conduct business more efficiently and win new business.
“DealBoard.org is emerging at a perfect time,” says Brian Jetty, Executive Vice President of NTCAR. “The Dallas office, industrial and retail leasing markets are hot, which makes the DealBoard functionality even more valuable. DealBoard.org’s online matching service helps commercial brokers in Dallas share property needs and leads with each other, and helps unrepresented tenants at the same time.”
Dallas-Fort Worth was the top market in the U.S. for office space absorption in 2017, as ranked by Cushman & Wakefield. Last year’s net office leasing, or absorption, was 39 percent ahead of the 2.9 million square feet of local office space businesses absorbed in 2016. At the same time, Dallas broke a record last year for industrial space absorption, and the retail market is thriving as unemployment remains below the national average.
How DealBoard Works
Just as Uber matches passengers with drivers, DealBoard.org matches commercial real estate professionals with each other, and tenants with commercial real estate brokers, on demand. When a broker has a requirement, he or she submits a digital bid request for space that meets the need. In response, landlord reps submit bids for the space, either electronically or over the phone. Similarly, unrepresented small and large businesses can use the service to find their perfect office, industrial or retail space with the help of brokers. Businesses specify space criteria, including amenities, location and budget, and intangibles about their company culture and the vibe of the space they want. Then brokers respond with competitive bids that match. The system tracks all open bid requests and bids until matches have been made.