Managing documents in commercial real estate (CRE) is no small feat. With transactions often involving over 5,000 documents and more than 50 stakeholders – including investors, bankers, underwriters, and inspectors – DevOps teams often face an uphill battle in maintaining efficiency and accuracy. Which is why it’s no surprise that 56% of real estate companies cite improving document management systems as a top technology priority, according to Deloitte.
So, why is commercial real estate document management important? Effective document management ensures regulatory compliance, risk mitigation, enhanced operational efficiency, and protection of sensitive data – crucial for maintaining trust among investors, regulatory bodies, and third-party vendors.
Document management in SharePoint: SaaS vs. custom-built solution
But when it comes to real estate document management, CRE agencies often deliberate between off-the-shelf SaaS platforms and custom-built SharePoint solutions. Which is better? While SaaS platforms offer quick setup and basic functionality, they often lack the flexibility and scalability required for intricate CRE transactions. Key limitations frequently encountered with SaaS platforms include restricted document automation, limited integration with critical features like e-signatures, and inadequate permissions management for sensitive information.
As a specialist in commercial real estate document management, I’ve observed firsthand the benefits of a custom-built SharePoint solution. One significant advantage is the dramatic efficiency gained through automation. For example, custom SharePoint systems can rapidly generate complex documents by integrating CRM data, significantly reducing manual labor. Layering e-signatures onto these automated processes further enhances operational efficiency, transforming tasks that once took days into tasks that now take mere seconds.
Why a custom-built SharePoint document management solution is the answer
Imagine managing the documentation for a multi-million dollar commercial building purchase. From fire safety certificates and inspection reports to investor agreements and underwriting documentation, the process can involve thousands of documents. Manual handling is not just time-consuming but prone to errors and compliance risks.
To address the unique challenges of commercial real estate document management, a custom-built SharePoint solution can offer a range of key features that will enhance efficiency and maintain compliance, such as:
Pre-built document libraries and permissions:
Custom-built document management in SharePoint can be configured to automatically set up structured libraries with predefined folder structures, permissions, and role-based access. This ensures that sensitive data is only accessible to authorized parties. Additionally – by utilizing M365 guest access policies, you can allow third party vendors to securely upload files, without using a separate document portal or solution.
Checklist integration for document verification:
Customized systems can include checklists for required documents, guiding users through each stage of the process to ensure compliance and accuracy.
Automated document generation and e-signatures:
By integrating CRM data, a SharePoint-based system can be designed to automatically populate and generate documents, drastically reducing manual effort. Adding e-signature capabilities ensures fast and secure approvals.
Customizability for different transaction types:
If you need a system that dynamically adapts to various commercial transaction types – whether it’s a government-backed HUD loan or a purely commercial agreement – each with specific documentation and compliance demands, custom-built document management is the way forward.
Advantages of a custom-built document management system in SharePoint
Still wondering if a custom-built document management system is right for you? Then take a look at just some of the advantages of this approach…
1. Uniquely meets your needs: Tailor workflows, metadata, and user interfaces to the unique processes of your organization. This means you can design the system to fit your exact needs rather than adapting your processes to a one-size-fits-all solution.
2. Take advantage of the system you’re already paying for: For organizations already invested in Microsoft Office 365, a SharePoint-based solution can seamlessly integrate with Outlook, Teams, and other Microsoft tools.
3. Peace of mind security as standard: Custom solutions allow for more granular control over permissions, compliance, and data retention policies, which is vital for sensitive commercial real estate transactions.
4. Modify or expand as needed: As your business evolves, a custom solution can be modified or expanded to address new requirements, avoiding the limitations sometimes found in SaaS platforms.
5. Flexible use cases: Customized SharePoint solutions can dynamically adapt to various commercial transaction types – whether it’s a government-backed HUD loan or a purely commercial agreement- each with specific documentation and compliance demands.
For DevOps professionals in commercial real estate, the strategic choice is clear: Custom-built SharePoint solutions provide unparalleled flexibility, robust integration capabilities, and the agility to adapt to evolving business demands, ultimately delivering smoother, faster, and more compliant transactions.
Case study: Bluth co.'s SharePoint journey
Cloudwell worked with a major commercial real estate company Bluth Co., who needed a more efficient way to manage a high volume of loan originations. Originally using a SharePoint-based solution developed by our team, as new Microsoft 365 features have become available they wanted to modernize. Out team updated the system using the Microsoft SharePoint Framework (SPFx), Fluent Design System, and DevOps Pipelines, creating an enhanced commercial real estate integral loan origination platform on SharePoint, with modern functionality and aesthetics. The new user-friendly features include drag-and-drop file uploads and deal management. The revamped solution has significantly improved speed, reliability, and end user satisfaction.
Q&A: Commercial real estate document management in SharePoint
Managing documents in CRE is a complex task, but customizing document management in SharePoint can simplify the process. Here are some frequently asked questions that DevOps professionals encounter when managing real estate documents in SharePoint.
Q: Why is a customized document management system for SharePoint essential in commercial real estate?
A: In commercial real estate, a customized document management system for SharePoint is essential for handling the large volume of documents related to property transactions, leases, inspections, and compliance reports etc. It can streamline workflows, maintain data integrity, and integrate with Microsoft 365 tools, which many CRE companies already use for communication and collaboration.
Q: What are the best practices for SharePoint document management in commercial real estate?
A: Best practices include creating a structured document library for each property or deal, using metadata to enhance searchability, setting clear user permissions to protect sensitive data, implementing version control to track document changes, and automating repetitive tasks such as document approvals and signature collection.
Q: How does Microsoft 365 improve document organization specifically for commercial real estate?
A: Microsoft 365 integrates with SharePoint to provide a centralized platform for storing, managing, and sharing property-related documents. Features like Teams integration, real-time collaboration, and secure file sharing help DevOps teams maintain organized, accessible records while reducing the risk of document fragmentation across different systems.
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Interested in a custom-built solution for your Commercial Real Estate document management needs? Reach out to our team for a tailored consultation.