Jacobs: Having been interim GM for the last three months, I was given time to assess all of the inner workings of the organization and its position within the industry. Ten-X Commercial has been very successful at transacting billions of dollars of commercial real estate online, but we still feel that there is room for us to continue adding value to brokers, sellers and buyers nationwide. I am honored to lead Ten-X Commercial's strategic growth plan as well as to oversee all of our operations.

GlobeSt.com: How does having been a Ten-X customer help inform this role?

Jacobs: Like many real estate executives, when I recognized the inefficiencies of traditional real estate acquisition and disposition methods, I turned to Ten-X to help streamline the transaction process, push pricing and provide transparency and certainty of close. Having benefitted from Ten-X, it's exciting for me to have the opportunity to help shape the strategic vision and growth of this important platform.

At the same time, for Ten-X as a company, bringing in former CRE executives to serve in leadership and advisory roles has been a success strategy. Our goal is to make the transaction process better for brokers, sellers and buyers, and there is no better judge than our customers as to what we do well, where we can improve and what other industry challenges we are equipped to step in and solve. We're very proud of the products we've created and the strides we've made toward accelerating transaction times and eliminating “re-trades,” but there's always room for additional improvement. The key to our success is the combination of our data-driven technology and the industry expertise of our entire leadership team, and that's what will enable us to continue creating solutions that meet our customers' needs.

GlobeSt.com: What continued changes do you see in the CRE marketplace?

Jacobs: The most significant change is the CRE marketplace is no longer comfortable with doing things “well enough” and without transparency. Decades ago, people were at ease with the status quo, but in today's fast-paced, rapidly evolving environment, everyone is looking for an edge, and sellers, buyers and brokers are jumping at the opportunity to improve the transaction process and make it more efficient.

Other global trends impacting the world more broadly are also affecting the CRE marketplace. One good example of this is mobile. Intuitively, real estate investment might not seem like the kind of activity that is suited to phones or tablets, but we've seen the percentage of logins and bids that come from mobile devices jump substantially in the past year.

GlobeSt.com: What are you most looking forward to accomplishing at Ten-X?

Jacobs: While Ten-X Commercial has already been extremely successful—more than $17 billion of commercial real estate has traded on the platform—we're always looking to find new and better ways to help our customers. To that end, one of our major priorities will be launching an enhanced version of Offer Select, one of Ten-X's flagship transactional platforms, which moves the traditional real estate transaction process online. The unique method lets buyers and sellers reap the benefits of an online marketplace, while enjoying the greater negotiating abilities offered by the traditional sales method.

More broadly, I'm looking forward to expanding the reach of Ten-X Commercial for the betterment of the industry. Ten-X Commercial is a dynamic, data-enriched real estate marketplace that eliminates inefficiencies and gives brokers, sellers and buyers greater control. As we continue to grow the number of quality commercial assets on our platform, the benefits of our method become more impactful, and I'm really looking forward to making it a reality.

|

IRVINE, CA—The most significant change in the CRE marketplace is that it is no longer comfortable with doing things “well enough” and without transparency, Ten-X Commercial's new general manager Steve Jacobs tells GlobeSt.com. Formerly a Ten-X customer, Jacobs is now overseeing the company's commercial business and will be responsible for expanding the offerings and services the firm provides to brokers, sellers and buyers.

In the coming months, Jacobs will focus on initiatives to scale the firm's commercial business, including launching an enhanced version of one of Ten-X's flagship transactional platforms, Offer Select, which moves the traditional real estate transaction process online.

We sat down for a chat with Jacobs to talk about his new role, how being a former customer has helped inform this role and continued changes he see sin the CRE marketplace.

GlobeSt.com: How do you view your new role with the firm?

Jacobs: Having been interim GM for the last three months, I was given time to assess all of the inner workings of the organization and its position within the industry. Ten-X Commercial has been very successful at transacting billions of dollars of commercial real estate online, but we still feel that there is room for us to continue adding value to brokers, sellers and buyers nationwide. I am honored to lead Ten-X Commercial's strategic growth plan as well as to oversee all of our operations.

GlobeSt.com: How does having been a Ten-X customer help inform this role?

Jacobs: Like many real estate executives, when I recognized the inefficiencies of traditional real estate acquisition and disposition methods, I turned to Ten-X to help streamline the transaction process, push pricing and provide transparency and certainty of close. Having benefitted from Ten-X, it's exciting for me to have the opportunity to help shape the strategic vision and growth of this important platform.

At the same time, for Ten-X as a company, bringing in former CRE executives to serve in leadership and advisory roles has been a success strategy. Our goal is to make the transaction process better for brokers, sellers and buyers, and there is no better judge than our customers as to what we do well, where we can improve and what other industry challenges we are equipped to step in and solve. We're very proud of the products we've created and the strides we've made toward accelerating transaction times and eliminating “re-trades,” but there's always room for additional improvement. The key to our success is the combination of our data-driven technology and the industry expertise of our entire leadership team, and that's what will enable us to continue creating solutions that meet our customers' needs.

GlobeSt.com: What continued changes do you see in the CRE marketplace?

Jacobs: The most significant change is the CRE marketplace is no longer comfortable with doing things “well enough” and without transparency. Decades ago, people were at ease with the status quo, but in today's fast-paced, rapidly evolving environment, everyone is looking for an edge, and sellers, buyers and brokers are jumping at the opportunity to improve the transaction process and make it more efficient.

Other global trends impacting the world more broadly are also affecting the CRE marketplace. One good example of this is mobile. Intuitively, real estate investment might not seem like the kind of activity that is suited to phones or tablets, but we've seen the percentage of logins and bids that come from mobile devices jump substantially in the past year.

GlobeSt.com: What are you most looking forward to accomplishing at Ten-X?

Jacobs: While Ten-X Commercial has already been extremely successful—more than $17 billion of commercial real estate has traded on the platform—we're always looking to find new and better ways to help our customers. To that end, one of our major priorities will be launching an enhanced version of Offer Select, one of Ten-X's flagship transactional platforms, which moves the traditional real estate transaction process online. The unique method lets buyers and sellers reap the benefits of an online marketplace, while enjoying the greater negotiating abilities offered by the traditional sales method.

More broadly, I'm looking forward to expanding the reach of Ten-X Commercial for the betterment of the industry. Ten-X Commercial is a dynamic, data-enriched real estate marketplace that eliminates inefficiencies and gives brokers, sellers and buyers greater control. As we continue to grow the number of quality commercial assets on our platform, the benefits of our method become more impactful, and I'm really looking forward to making it a reality.