“This is the future of market surveys”
✨ Article summary: Colton Teglovic at Kidder Matthews uses LeaseUp to quickly create digital market surveys and gather client feedback in days, rather than weeks or months. LeaseUp evolves with changing search requirements, and lets Colton update data-packed surveys on the fly. This leads to quicker feedback cycles and reduces deal fatigue. The building data that Colton inputs for each deal is saved on the platform, allowing him to quickly access and reuse deal data as needed.
Colton Teglovic, Vice President at Kidder Matthews, favors a data-driven, research-oriented approach to tenant rep brokerage. Prior to joining Kidder Matthews in 2023, he worked for several years at Savills’ Seattle office, where he first started using LeaseUp to quickly turn around market surveys for primarily industrial clients. “This is the future of market surveys,” he thought at the time.
Colton appreciates LeaseUp’s efficiency and adaptability in quickly turning client search requirements into digital market surveys that can speed up a deal by weeks. It’s easy to use on his end, easy to digest on the client’s side, and reduces a lot of redundant back and forth and time wasted constantly updating PDF reports. “The simplicity [of LeaseUp] is a feature, not a bug.”
Prior to LeaseUp, it would take Colton at least 5-7 business days to put together a market survey for industrial clients. He’d gather the building data he needed, give it to an admin, and wait for them to package a PDF deliverable for the client. Sometimes clients would come back with a fundamental change in the search requirement – looking for 10,000 sqft buildings instead of 20,000 sqft, for example – and the whole process would start over, with multiple reports now circulating.
Now with LeaseUp, Colton can turn around an initial survey to the client in a matter of minutes. He gathers data like before, then builds a digital market survey in LeaseUp and shares it via a link with the client.
Turning an initial request into a clickable survey within one business day inspires client trust, and also lets Colton quickly adjust his surveys on the fly if the client makes any changes to their search criteria, bypassing the usual lag time. “To say, ‘Give me some feedback and then we can dial this in,’ I think that's been really powerful,” Colton says.
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Keeping a record of building data over time in LeaseUp is another huge factor for Colton: “A cherry on top is it stores everything and you can reference it, a year later, six months later.”
He recounts a scenario where a client put a project on hold for four months due to funding delays. When they were ready to restart, he was able to quickly pull up the previous survey, update a few details, and get the deal back on track within hours.
LeaseUp’s reusable data management platform also lets Colton access building and space info that no longer appears to be available in the market: “I've used it where I've gone back, I remembered for another client there was a really good option but I'm not seeing it [marketed], but the marketing flyers and whatever data I put in there still lives in the LeaseUp survey.” Using this stored data, he calls up the leasing broker and quickly updates the info before reusing this building data for a new market survey.
Over time LeaseUp has become a proprietary collection of building and space data that Colton can leverage for future deals.
Another key benefit is LeaseUp’s digital survey is the mapping feature. Every survey includes an interactive map of all buildings using Google Maps. The industrial searches Colton does often sprawl over a wide area, and the interactive map is another component that helps clients assess the options and make quick decisions that advance the search.
“With a tenant rep survey, you're always educating the client on the market, which is getting you closer to doing a transaction,” Colton explains about the value he’s seen when using digital surveys with tenants. If a client completely changes some fundamental aspect of their search after the initial survey, “it’s no sweat off my back,” he says. The time spent updating the digital survey is negligible, and the value created in educating the client on the available options is significant.
“I’ve used it more as a digital back and forth. The faster you can get them the information to help them wrap their head around whatever problem they're trying to solve, the quicker you can get the transaction done.”
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