CRE platform reports Q3 transactions of $689 million
The leading commercial real estate platform has reported strong levels of transactions so far in 2018.
Ten-X says that brokers have used the platform for $689 million in third quarter transactions, boosting year-to-date gross merchandise volume (GDV) to $1.56 billion.
The platform, which claims 90% of all online CRE transactions, has also seen a rise in the number of commercial real estate brokers, buyers and sellers using the platform.
"Our industry-leading dashboard provides users with immediate and transparent property data, including specific information on interested buyers around the globe, all in real-time," said Ten-X Commercial's CTO, Lawrence Yuan. "The steady user growth and increase in traffic between launch and Q3 is a testament to how the industry wants more real-time data, control and efficiency in transacting commercial real estate."
Ten-X’s new dashboard allows users to closely track buyer interest and activity in real-time, while providing collaborative lead management. It now has more than 8,000 users since launching earlier this year.
"As we continue to evolve the Ten-X platform to better provide our customers with essential tools, we are pleased to see transaction GMV increase by 16% year-over-year," said Ten-X President Maureen Waters. "The increase in GMV and dashboard adoption demonstrates the strength of the Ten-X platform in attracting buyers from around the globe while streamlining the transaction, creating efficiencies and providing transparency for brokers and sellers. With increased PropTech adoption in the CRE industry, we are confident that Ten-X will positively impact and simplify commercial real estate transactions."
