Strategic Partnership Between TCN Worldwide and Ten-X Will Boost Efficiency of CRE Transactions
TCN Worldwide and Ten-X have entered into a strategic partnership that will ultimately benefit thousands of TCN Worldwide members. With this partnership, members will have the opportunity to leverage technology more efficiently in securing clientele and completing commercial real estate transactions.
TCN Worldwide is a consortium of top independent real estate firms that focus on commercial properties. The company provides fully integrated solutions, both on a local and international basis. Ten-X is the leading online real estate marketplace in the country, as well as the parent company of Ten-X Commercial, Auction.com, and Ten-X Homes. Combined, Ten-X companies have sold more than 200,000 residential and commercial properties with a total value of over $39 billion.
Considering that TCN Worldwide is comprised of 5,000 commercial real estate professionals and Ten-X is the top online real estate marketplace in the U.S., this announcement is huge. Overall, the efficiency of transactions will improve dramatically.
H. Ross Ford III, president and CEO of TCN Worldwide, said in a statement that Ten-X will also be a sponsor at this year’s TCN Worldwide Spring Principals’ Conference in Montreal, Canada. In addition, Ten-X will sponsor September’s TCN Worldwide Fall Conference in New Orleans.
With the ability to leverage this technology via both mobile and desktop, brokers can easily and safely complete real estate dealings online. This platform has revolutionized the process of making deals in real estate. Because due diligence is performed prior to bids, the chance of re-trades is significantly reduced. Beyond this, brokers are provided access to a large pool of prospective investors. As such, they can arrange deals with buyers with whom no previous relationship had been established.
Ford said that thanks to the partnership with Ten-X, TCN Worldwide has the opportunity to educate members as to how technology will help them build a strong business and manage transactions online seamlessly. Especially in the commercial real estate sector, ever-advancing technology plays a critical role. With Ten-X spearheading efforts, TCN Worldwide is proud to tell the world about the new partnership, as well as the upcoming sponsorships.
In 2008, Ten-X had a goal of completely transforming the real estate sector. To meet this goal, a number of product lines were newly launched, which vastly increased the transactional volume specific to commercial properties.
At the crossroads of cutting-edge technology and a U.S. real estate industry valued at $1.8 trillion, Ten-X has become a trusted resource. Yan Khamish, managing director of the Commercial Broker Channel for Ten-X, said in a statement that the strategic partnership with TCN Worldwide will make it easier to leverage technology for literally thousands of members.
The platform has been updated to include a non-auction offering that brings the traditional process online, which is an addition to the signature auction format known as “Live Bid.” Another modification is “Managed Bid,” a hybrid format that makes it possible for sellers to choose buyers from a short list of those interested in auction events online.