SVN | BlackStream
Helping a client grow quickly by increasing the number of proposals they were able to get out per week.
SVN | BlackStream provides commercial real estate services to a variety of groups in North and South Caronia, including property owners, investors and national investment funds. Considered one of the fastest growing CRE firms in the Upstate, BlackStream affiliated with SVN in 2014. SVN | BlackStream now works with over 50 Advisors and operates franchises in Greenville, Columbia, Charlotte and Charleston.
SVN | BlackStream runs a lean team but wants to grow clients and deal flow quickly, including more clients overall and more deals per client. They were limited by the number of proposals they were able to get out per week.
Also, prior to working with Archer, they did not have an easy way to identify which deals were likely to enter the disposition window soon. They were looking for a way to get ahead of the competition and begin conversations with owners prior to other firms. To do so, they need to be able to evaluate a property faster than ever before.
Another challenge faced by the team is the intense competition they face to win a deal. To make matters more difficult, some brokers are providing unrealistically high pricing estimates in an effort to beat the competition.
Finally, finding comprehensive, actionable real estate data at a reasonable price is another challenge the team faces. Prior to working with Archer, the team faced a cumbersome process to find and aggregate data that indicates which properties are likely to sell in the future.
The SVN | BlackStream team first began working with Archer as a part of Archer’s relationship with SVN. Always looking for ways to embrace data and tech to operate more efficiently, the team was eager to engage with Archer as soon as they were able. After providing Archer with several addresses to underwrite, SVN | BlackStream worked with Archer’s acquisition specialist to fully understand the model and how they could best utilize it for prospecting and analysis.
After two hours of in-depth training, SVN | BlackStream was able hit the ground running and take full advantage of Archer’s suite of acquisition’s tools.
According to Lars Gruenefeld, Chief Operating Officer of SVN | Blackstream, “The best thing about this whole process has been just amazing engagement of the Archer team. The hands-on approach they’ve taken with us has just been huge.” Because of Archer’s approach, onboarding the SVN | Blackstream team has been a quick and efficient process.
Archer has provided SVN | BlackStream detailed underwritings, including market comps, for over 15 properties.. To date, Archer has played a pivotal role in helping the team win three opportunities.
Because of this, SVN | BlackStream has reduced the time it take to do BOVs and proposals from one week to one day. This has enabled them to far outpace the competition and get to potential clients far before anyone else. In addition, this has increased their capacity tremendously. They can now complete six times as many proposals in a given week as they could prior to working with Archer. Additionally, being able to get a proposal completed in a day has enabled them to stand out from the competition and, as a result, win more deals. For one property in Savannah, despite the two other competing firms having over a week head start, SVN | BlackStream got in their proposal days ahead of the competition.
Archer’s data-first approach has allowed them to beat the competition by providing proposals with realistic price expectations, backed by thorough market comps analytics. Specifically, sellers that received several proposals with unrealistically high prices were impressed by the transparent and comprehensive data SVN | BlackStream provided using Archer’s platform. The team feels more confident that they can provide the in-depth analysis needed to help them win more deals.
SVN| BlackStream has recently started to use Archer’s data to help identify deals that are likely to sell. Archer has developed seller propensity scoring based on deep insights into owner’s behavior using AI. By leveraging this data, the team can be more targeted in who they approach to sell an asset. This is expected to save them time while helping them to win even more clients.