If you haven’t yet caught Consorto Chief Executive Philip Verzun’s recent interview with BT Talks covering how European commercial property is performing, how proptech is changing the sector and the growth of Consorto – don’t worry!
Consorto’s ‘secret sauce’
During the informative chat with Benjamin Teper. featuring some of the world’s most interesting entrepreneurs, Philip Verzun reveals the ‘secret sauce’ of Consorto.
He says, “We really go deep into matching investor profiles to the assets so relevant properties will start coming to your mailbox. And we’ve gone even further this year. We’ve now automated the initial workflow so once you’ve identified the off-market property listing that you like – online, typically that will be locked and you will not get detailed information. So what we allow you to do is we have embedded digital signing so you can instantly sign a Non Disclosure Agreement then this will unlock the full property factsheet and you can proceed to a preset Q&A section.”
With Consorto’s new Smart Match system, sellers can see how much demand there is for their listings. Philip explains, “As you know, maybe your own mailbox gets bombarded with the deals that are not relevant to you, so really want to make sure that the vendor gets his asset to the right audience.
“Recently we launched something called Smart Match so, as a seller, you can insert your property details and we show you immediately how many potential active buyers are there because we have now mapped over 600 active institutional investors that constantly buy across Europe.”
Philip also identifies how the COVID pandemic has affected the European commercial sector, with logistics and industrial units becoming top performers at the expense of hotel and retail listings – although they are still attracting opportunistic investors.
Most European commercial real estate investors are focused on the UK, Scandinavia and Germany, followed by the Netherlands, Spain and Italy.
“Leverage is really important and lending, so commercial spending goes hand-in-hand and what we’ve seen is that Germany seems to have the best lending terms and so supply is super limited, as institutional investors keep bidding on interesting assets and they’re very difficult to find.”
Looking at propetch in the CRE sector, Philip identifies major growth drivers of business, including big data, artificial intelligence applications and digital administration.