Howard Zola, VP of Sales & Marketing at WorkplaceIQ, claims that IQ|Transaction will reduce the time that you spend managing deals by about half, based upon WorkplaceIQ's case studies. Here's the math. Before IQ|Transaction, a typical broker's time breaks down as follows: 60% managing deals, 25% on company activities, and 15% on business development. After IQ|Transaction, the breakdown is 35% managing deals, 25% on company activities, and 40% on business development.

Zola and COO Rob Vanderwerf recently WebExed me through a demonstration of IQ|Transaction. The list of features goes on and on -- from performing a needs assessment to creating flyers to paying commissions and every step in between. While allowing each company to configure the system to its own proprietary processes, the idea is to leverage the standard elements of a real estate transaction onto a common platform, IQ|Transaction. This will make all participants -- and by extension the real estate industry -- more efficient.

IQ|Transaction is available to all owners, investors, tenants, and brokers. For a monthly fee of between $25 and $100 per broker (depending upon volume and services), anybody can use this transaction management system, which cost many millions of dollars to develop. WorkplaceIQ hopes that widespread adoption will be promoted by firms seeking cost savings and by clients demanding accountability. Will you be an early adopter?

Spread the Word... Many thanks to our sponsor this week, Equity Office's Think Small Promotion. If you would like to sponsor future issues of the Dispatch, please send e-mail or call me at 415-485-6700.

--Peter Pike