PHOENIX—Just how much has technology changed the way we do business? We talked tech with Trusha Patel, director of hospitality, commercial division of Ten-X at the Lodging Conference last week in Phoenix. Patel sat down with us for an exclusive interview to discuss technology, specifically, how deals were previously done versus today.
In this video interview, Patel gave us a look at how technology has impacted deal production. Pre-technology, deals were transacted through networking and relationships. Now, Ten X has a safe platform for buyers and sellers to come and meet the market, positioning assets on the platform with a level of transparency. This platform gives sellers the visibility of assets worldwide and buyers access to due diligence documents at their fingertips 24/7. Ten-X offers three ways to transact online: the Offer Select negotiated transaction which allows sellers to provide individual buyers with offer guidance; Managed Bid, which narrows the buyer pool based on a round of initial bids; and Live Bid online auctions which attend to the needs of different buyers, Patel shared.
PHOENIX—Just how much has technology changed the way we do business? We talked tech with Trusha Patel, director of hospitality, commercial division of Ten-X at the Lodging Conference last week in Phoenix. Patel sat down with us for an exclusive interview to discuss technology, specifically, how deals were previously done versus today.
In this video interview, Patel gave us a look at how technology has impacted deal production. Pre-technology, deals were transacted through networking and relationships. Now, Ten X has a safe platform for buyers and sellers to come and meet the market, positioning assets on the platform with a level of transparency. This platform gives sellers the visibility of assets worldwide and buyers access to due diligence documents at their fingertips 24/7. Ten-X offers three ways to transact online: the Offer Select negotiated transaction which allows sellers to provide individual buyers with offer guidance; Managed Bid, which narrows the buyer pool based on a round of initial bids; and Live Bid online auctions which attend to the needs of different buyers, Patel shared.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
