Newmark Expands Proptech Offerings With Data Visualization

Newmark continues following one tradition from the high-tech world by developing software, most likely originally for internal use, and then making it available to customers for additional revenue streams.

It recently announced a new product called Newlitic that “integrates enterprises’ real estate portfolio information into one single platform,” according to a press release. “Newlitic offers capabilities for multiple management reporting needs—including occupancy utilization, portfolio and lease administration, transaction management, capital projects and facilities management —through customizable web dashboards.”

The product area is data visualization. Over years it has become a popular technique to present information in a graphical format that can highlight relationships and implications that can be hard to decipher from stacks of numbers on printed reports.

Dashboards are one aspect that present a set of data important to daily operations so that an executive can, in theory, easily and quickly check the performance indicators that have the greatest bearing on departmental and corporate performance.

“CRE leaders have long had point solutions to manage aspects of their portfolios,” the press release quoted Newmark GCS CEO Rick Bertasi as saying. “However, translating data to produce meaningful and actionable insights into portfolio performance has always been a challenge, until now. Addressing the solution, Newlitic provides a new form of analytics specifically for CRE end-users. With Newlitic we continue our commitment to leveraging technology to empower our clients to advance their real estate and business.”

The company claims that Newlitic makes data compilation and access easy, with the ability to draw data from multiple sources simultaneously into a report or display. The product can automate periodic report generation and allow users access to data the create their own reports.

The new product is not a one-off effort. “To maintain our competitive advantage in the marketplace, we employ dedicated, in-house technology professionals and consultants who continue to improve existing software products as well as develop new innovations,” says one of the company’s websites. We will continue to aggressively develop and invest in technologies such as these which we believe will drive the future of real estate corporate outsourcing.”

Previous products include NGAGE to improve the effectiveness and efficiency of its appraisers (not indication of whether this is available to customers); Spaceful that helps brokers transform space tours for the digital age, saving time and strengthening tenant relationships along the way; and its CRM system Ideal. Also, Newmark acquired a workflow solution called Workframe in 2019.