Behind Ten-X's Partnership With CCIM

IRVINE, CA—Ten-X's desire to align itself with a proven thought leader and increase transparency, efficiency and exposure in CRE deals has spurred the recently announced strategic partnership between the online marketplace and CCIM, Yan Khamish, managing director of Ten-X's Brokerage Channel, tells GlobeSt.com. At a time when Ten-X is undergoing a series of significant changes, we spoke exclusively with Khamish about the CCIM alliance, why it works and the concept of creating strategic partnerships.

GlobeSt.com: What is most compelling for you about your new strategic partnership with CCIM?

Khamish: We took a look around for ways to connect with brokers; we wanted to align ourselves with a thought leader, and we felt that CCIM was one of the most prestigious organizations in the industry. The organization is at the forefront of trying to improve how brokers look at transactions—including financial, marketing tools, due diligence—from a lot of vantage points. We also sought them out because the organization is very forward-thinking about new methods and the kinds of tools and education they provide to their membership is extraordinary. They also make sure their members subscribe to their ethical and fiduciary responsibilities.

GlobeSt.com: When creating strategic partnerships, what do you look for in a partner?

Khamish: That our interests and goals are aligned. We may be approaching the objective from different perspectives, but we really have the same objective – to improve the efficiency and transparency of real estate transactions.

CCIM works with major organizations and universities to train people on how to look at a CRE deal. We are an organization that is fairly established at this point, but we are obviously growing and are at an important point in our life cycle where we're trying to make transactions easier, more efficient, and more transparent. We felt that this was a strategically important partnership that would help us educate the industry about how our platform empowers brokers, buyers and sellers.

GlobeSt.com: What other opportunities are there for Ten-X to further education about online commercial real estate transactions?

Khamish: We have great research, which is critical to any organization, and that data is part of the reason why we're the only real estate platform in which Google Capital has invested. We are extremely excited about the uniqueness and sophistication of the data we provide.

One of our biggest challenges is to simply help people understand who we are – really a platform, like the NYSE or NASDAQ – a clearinghouse for CRE. We enable institutions, organizations and brokers to have a platform that empowers them to do what they do best: handle transactions. Collectively, our team is made up of experts for all aspects of a transaction, including marketing, due diligence, title insurance and other aspects of the deal. Let us do all that heavy lifting so that you are there as a professional to handle questions, talk about the transaction and interact with more buyers.

We are here to create a very open environment for people to really focus on the transaction rather than on all of the busy work that goes around it. We're here to streamline the process. Traditionally it could take 270 days to execute a sale, but on our site it takes about 90 days. When you work with us, you have the power of an organization set up to support you, and that's a powerful resource.

GlobeSt.com: What else should our readers know about your company's latest changes?

Khamish: The changes we've made should make our platform more attractive to a wider audience – we have more high quality, traditional properties on our website than ever before, and we now have both auction and non-auction solutions, so sellers can pick whichever works best for them. We ask that people be open minded. Really take the time to understand what we do, that we are a great tool that they should think about when they sell. We have various options from which to choose on how to create that transaction. CRE has been somewhat of a late bloomer in adapting to new technologies, so we want to convey to the world that we are here to help it adapt. At the end of the day, what we're bringing to the industry is a lot of transparency, efficiency and exposure.

IRVINE, CA—Ten-X's desire to align itself with a proven thought leader and increase transparency, efficiency and exposure in CRE deals has spurred the recently announced strategic partnership between the online marketplace and CCIM, Yan Khamish, managing director of Ten-X's Brokerage Channel, tells GlobeSt.com. At a time when Ten-X is undergoing a series of significant changes, we spoke exclusively with Khamish about the CCIM alliance, why it works and the concept of creating strategic partnerships.

GlobeSt.com: What is most compelling for you about your new strategic partnership with CCIM?

Khamish: We took a look around for ways to connect with brokers; we wanted to align ourselves with a thought leader, and we felt that CCIM was one of the most prestigious organizations in the industry. The organization is at the forefront of trying to improve how brokers look at transactions—including financial, marketing tools, due diligence—from a lot of vantage points. We also sought them out because the organization is very forward-thinking about new methods and the kinds of tools and education they provide to their membership is extraordinary. They also make sure their members subscribe to their ethical and fiduciary responsibilities.

GlobeSt.com: When creating strategic partnerships, what do you look for in a partner?

Khamish: That our interests and goals are aligned. We may be approaching the objective from different perspectives, but we really have the same objective – to improve the efficiency and transparency of real estate transactions.

CCIM works with major organizations and universities to train people on how to look at a CRE deal. We are an organization that is fairly established at this point, but we are obviously growing and are at an important point in our life cycle where we're trying to make transactions easier, more efficient, and more transparent. We felt that this was a strategically important partnership that would help us educate the industry about how our platform empowers brokers, buyers and sellers.

GlobeSt.com: What other opportunities are there for Ten-X to further education about online commercial real estate transactions?

Khamish: We have great research, which is critical to any organization, and that data is part of the reason why we're the only real estate platform in which Google Capital has invested. We are extremely excited about the uniqueness and sophistication of the data we provide.

One of our biggest challenges is to simply help people understand who we are – really a platform, like the NYSE or NASDAQ – a clearinghouse for CRE. We enable institutions, organizations and brokers to have a platform that empowers them to do what they do best: handle transactions. Collectively, our team is made up of experts for all aspects of a transaction, including marketing, due diligence, title insurance and other aspects of the deal. Let us do all that heavy lifting so that you are there as a professional to handle questions, talk about the transaction and interact with more buyers.

We are here to create a very open environment for people to really focus on the transaction rather than on all of the busy work that goes around it. We're here to streamline the process. Traditionally it could take 270 days to execute a sale, but on our site it takes about 90 days. When you work with us, you have the power of an organization set up to support you, and that's a powerful resource.

GlobeSt.com: What else should our readers know about your company's latest changes?

Khamish: The changes we've made should make our platform more attractive to a wider audience – we have more high quality, traditional properties on our website than ever before, and we now have both auction and non-auction solutions, so sellers can pick whichever works best for them. We ask that people be open minded. Really take the time to understand what we do, that we are a great tool that they should think about when they sell. We have various options from which to choose on how to create that transaction. CRE has been somewhat of a late bloomer in adapting to new technologies, so we want to convey to the world that we are here to help it adapt. At the end of the day, what we're bringing to the industry is a lot of transparency, efficiency and exposure.