BrokerSavant Helps Small Commercial Real Estate Work Smarter, Not Harder
Founded in 2009, Chicago-based BrokerSavant has developed a platform that helps small organizations including municipalies, chamber of commerces, small brokerage firms, and other associatins save time and money so that they can work smarter, not harder.
According to BrokerSavant founder Clay Rankin, more than 70 percent of the commercial real estate industry is made up of these small organizations and individual practices. We sat down with Rankin to discuss the formation of BrokerSavant and what’s in store for the company in 2013.
Here are some highlights from our discussion:
What inspired you to create BrokerSavant?
I’ve been in the commercial real estate industry since ’06. After working for a leasing company in the western suburbs for two years, I went off on my own and founded my own commercial real estate brokerage firm called Iron Real Estate.
As I was launching that, I began to encounter some real challenges. I took a step back and chatted with my peers and found we shared a lot of the same problems. I also looked at the market and found how many others there were with these challenges.
I found an opportunity to solve my peer’s pains. That was sort of the formation of BrokerSavant. I wanted to assemble the best experts that I could to address this.
When did you know you wanted to be an entrepreneur?
I knew that in 2009. I was struggling to make ends meet on my own and I had to make a change.
Entrepreneurship first came out of true necessity, to survive on my own, which launched Iron Real Estate. At the same time I didn’t know that I would be forming a software company, but certainly enjoyed the potential prospects of trying to create a fast software model.
What’s the worst movie you’ve ever seen?
I went and saw Nights in Rodanthe with Richard Gere. That was terrible. I went with a date at the time. It put the nail in the coffin for seeing another one of his movies. That one definitely sticks out.
Who are some entrepreneurs that inspire you?
A gentleman by the name of Sam Gerace who's serving in an advisor capactiy and will be a board member. He's successful thre-time entrepreneur who founded Be Free in 1996, which merged with ValueClick, Inc. 2002.
Having his expertise, his guidance and willingness to chat with me multiple times a week -- to carve out a time for me -- is not only beneficial towards trying to implement the best practices, but it’s nice that he’s trying to give back and allow other entrepreneurs to be successful. He’s certainly one that comes to mind.
What’s coming up for BrokerSavant in 2013?
Begining in June we will start rolling out our marketing enginge to the invidudual commercial rea estate practitioners. We can scale both our marketing engine solution to any market worldwide within three days.
We're also continuing to roll out our monthly email broadcast solution to brokers on behalf of our municipial and chamber of commerce clients. They expressed that they wanted to have better communication with brokerage community, and this solution helps to increase and boost thier property awareness and visibility.
Come Spring will be rolling out an online flier creation tool. We think communities are a lot of for-sale by owner properites that are being inforamlly marketed. This will be a tool that will enable small organziations and individuals alike to produce a professional flier that creates brand consistency while allowing them to maintain the same familiar workflow.
Our solutions give smaller organizations and individuals their time back so that they can work smarter not harder.