Auditing Your Tech Stack: Lessons for Brokers, Investors, and Property Managers

Introduction to Jim Resha and Episode Overview

Drew: Welcome back to the Peak Property Performance Podcast. I'm your host, Drew Hall, and in today's episode, we're going to talk about how the role of the broker and the expectations of owners and investors have shifted now that data is abundant, but insight is scarce. So first, welcome Bill Douglas here hosting together. Hi, Bill.

Bill: Hey, everybody. Great to be back. Jim Resha. Say hello to everybody before I read your intro. Today, our guest is Jim Resha.

Jim Resha: Hey, guys. It's Resha, Bill. Sorry about that. I should have known that. But no problem whatsoever, and I'm excited to be on with you.

Bill: We are, and we make lots of mistakes. Jim's background. He's a commercial real estate investment sales broker in principle with Sperry Commercial Global Affiliates. Jim has spent his career helping owners and investors turn market data into clear, actionable decisions. In a world where everyone has access to information, his focus is on interpretation, judgment, and strategy. We're talking with Jim today about how data, digital discipline, and operating visibility are changing how assets are valued, marketed, and transacted. So again, Jim, welcome to the show. Glad to have you.

Jim Resha: Thank you. Thank you. I appreciate it.

The Importance of Data in Real Estate

Drew: All right, Jim, let's start off. I mean, we're going to talk a lot about data today, for sure. We always do. It's really powerful. In today's world, clients have access to most of the same data, most of the same market data that brokers have had access to for a very long time. How is this creating value in transacting these CRE deals?

Jim Resha: That's a great question, Drew, because, you know, I was thinking about this. Actually, I spent a lot of time thinking about that question over the last year or so. And the reality is I've been doing this for, I'm on my 43rd year now, so I've been doing it for a long time. And when I got started as a broker, you know, it was, you know, whatever broker had like that magic piece of information and you had power and we held on to it really tight, you know, and it was, we didn't collaborate. But now with, you know, all the information out there, I tell people all the time, whether I'm coaching, whether it's clients, the data's out there, you know, our clients have access to every piece of information that we have. Our job is to collect it, interpret it, and most importantly, be able to explain it, be able to give it back to our clients in a way that they can do something with it. So understanding, you know, what that means.

Drew: Yeah. I mean, it's almost like you just answered my next question because that's what I was going to ask was where do you see owners, investors struggling the most? Is it accessing all that data or is it, you know, once they've got access to it, is it interpreting knowing what to do with what they've got? It sounds like there's quite a bit of a ladder there knowing what to do with what they've got.

Jim Resha: Yeah. I mean, I certainly think it's both and everything in between. You know, there's certainly owners that have the sophistication, they've got the data, they collect the data, and maybe even do a good job of interpreting it all the way down to, you know, the private owner owns a couple of properties, doesn't necessarily care if he's always operated his property, it puts a nice check in his pocket every month, but doesn't really understand how all the market data would be beneficial to him. So kind of being able to communicate across that whole spectrum is really important.

Bill: Well, Jim, we talk a lot on the show, and as you know, because our paths crossed outside the show, we are strong believers that tech sacks and data discipline deserve the same scrutiny as assets. And more importantly, technology shouldn't be an expense, it should be an income generating asset. So you mentioned, you told me you're formalizing and auditing your own tech sack. So what prompted that and what surprised you as you went through this process?

Conducting a Digital Infrastructure Audit

Jim Resha: Great question. So I think, one, just the whole notion of technology, and I would say, you know, this has probably been a three or four year journey for me personally, and our group here really answer in the question, how can we maximize the use of technology, and really from a perspective of, you know, when I first started reading about it, you know, there was a part of me that was like, oh, crap, they're not gonna need me anymore, right? It's like, you know, we have technology, we have the robots do what I do. And then kind of coming to the point where understanding that, you know, that's probably not true. I'm in a people business. It's the relationships, it's the being a trusted advisor, and being able to give that advice. So the technology and the analytics helps me be a better provider, a better trusted advisor to them. So then I started looking at, as it got towards kind of fourth quarter of last year, and kind of doing my business plan for 2026, it hit me that, man, I've got a CRM, and I use AI for this, and I use this program for this, and I use this for this. And I'm like, hey, am I using what I'm paying for to the best I can? And have I really taken a look and say, you know, I got that, I don't need that, I should have more of that, and that kind of stuff. So it led me to this notion of, you know, I want to have really the best tech stack I can have. So I really just started digging in, and I used a lot of perplexity for this one, and just started saying, hey, I want to really do an audit of my tech stack, I want to look all the things that, as the Resha Group, so the Resha Group is both the broker, the investment sales broker, and we have our private equity company, 1880 Capital, under that. So all the things we use technology for, and kind of build a playbook, and say, hey, we use this, and this is the reason why we're using this tool, and how we use it. And it's helped me put together kind of an operation manual for the rest of the team that says, hey, our CRM, this is what we need to do. Our prospecting tools, this is what we need to do, kind of thing. This is how we're using, so we're consistent.

Drew: Jim, it sounds to me like you did a digital infrastructure audit on your own. That sounds like a really fancy word for what I get. We talk about it all the time, because it's a major premise of the book, is own and control your data and your digital infrastructure, but what assets, what technology assets do you actually have, and which ones do you want to use? So it talks about what do you own and own physically, but virtually, what's your strategy? Because that strategy changes, but so do the tools. So I know I was plugging the book a little bit, but that digital infrastructure audit that you did, right? So how has evaluating your tools for ROI and usefulness, how is that similar to what CRE owners should be doing with their properties through similar things like data and digital infrastructure audits?

Jim Resha: You know, I think it comes down to, great question, I haven't specifically thought to that question yet, but I think it comes down to, we need to utilize the technology, and I'll say both from a program standpoint and from a AI robot standpoint, is maximize that in order for us to be the most effective and most efficient that we can be. So I think if you're an owner, you look at it and say, hey, what's the important things that I need to be doing, right? And at the end of the day, all of us have the same 24 hours, seven days a week to deal with. So, you know, I'm a believer that the technology helps me get the most out of that time. So instead of it being a good way to get my homework done, right, it's a way to say, hey, if I can put that, use technology to do that, I've got more time to do what I ought to be doing. And I personally frame that in, you know, the most important thing I need to be doing is talking to people about their real estate investment strategy. So whatever I'm doing that's not that, if I can offload that to technology, if I can create a better process, if I can use technology, if I can use a virtual assistant, whatever it is, that's better than me doing it for the most part, kind of thing. Now, all that stuff, you know, when I went through the audit, what became clear is I can't abdicate everything, right? There's a certain piece of the process, and it depends on what it is, that I have to say, I need to own that part. I need to do that because I'm the one that's going to go to talk to somebody about it, right? So as an example, when we do a valuation on a piece of property, we put it all together. You know, if I just said, hey, you know, you virtual assistant over in the Philippines, here's my template, you create this for me, and then give me the final result. And then, you know, I've got a meeting tomorrow with that property owner to talk to him about that, right? I'm not going to feel very prepared to go in and have that conversation, and doggone it, if that client asks me a question that I don't know because I didn't prepare that thing, I'm going to look stupid. I'm not going to look like that trusted advisor. So there's a piece of that, so I have to look at it and say, hey, I need to do that, and then let whatever it is do all this, and then I need to do this piece. And so really look at the process. So I think that's the way a building of an investor needs to look at it as well. And start with, hey, what are you trying to do? What's your goals of owning this real estate? Is it to build a portfolio? Is it to do that? So that's the conversation I want to have with them, and help them do that. Is it using the technology to make their operating more efficient? Is it using...

Jim Resha: And technology to help them fill vacancies, to make their net operating income better. Whatever it is, it's fully look at that. And there's plenty of stuff. I mean, I get ads every day, somebody trying to sell me something, right? And trying to understand is like, oh, I need that. I don't need that. I already have it. I'm not even using it. I'm paying for it and I didn't know I was paying for it. So, that's kind of a long-winded answer to that.

Drew: I like the application that you gave specific examples about doing it, both at your office and at a property. So, I don't mind long answers. We don't mind long answers, especially when you put it in the right context.

Bill: Yeah, definitely. We didn't interrupt, keep going. Yeah, Jim, I liked what you were saying about just the usage of tools, you know, deciding where to apply them. Because I think even, I mean, anywhere, any application in life, really, sometimes, if you're not appropriately using the tool, it's like, hey, you know what? The tool is using you. It's not enabling you to do things better. It's actually become more of a burden than anything. So, that's actually a good general reminder.

Enhancing Asset Value with Technology

Drew: So, I think you started to allude to it, but I wanted to spend a little bit of time here talking about this digital and data that we're talking about and how it impacts asset, like actual asset value. So, for you, when you bring properties to market, what are you seeing that's typically missing from a digital and data perspective that creates friction or uncertainty for buyers?

Jim Resha: Yeah, I think, if I understand your question, when I'm bringing a property to the market, and it really starts all the way back to that BOV, that valuation that I start before, is I'm looking at, hey, how's this property performing compared to its competition? So, where are rents compared to its competition? What, you know, if they're under rent, what needs to be done to get them closer to market rent, right? And sometimes it's operations. Sometimes it's deferred maintenance. Sometimes it's just educating, right? So, there's all kinds of reasons.

Jim Resha: So, a lot of what we'll do is we'll go in, we'll meet with a property owner, we'll say, hey, what's my property worth? And we're saying, hey, it's worth this right now. Why is that a number that you don't like? Well, you know, your rents should be at this level, but they're here because you haven't kept up with what the market trends have been doing. So, haven't used the data to really push rents. Maybe you haven't, you strategically made decisions not to do some capital improvement kind of stuff. And over time, that causes you to not be as competitive as the new shopping center around the corner kind of thing. So, that takes you down a level.

Jim Resha: So, now all of a sudden, you go in and you've got this asset that's worth $8 million that should be worth $10 million, but the only way he's gonna get it up to that is you gotta spend a million bucks. Right. So, then we look at, hey, or you could take your equity and go do something else, or you can spend a million dollars kind of thing. So, it's just using the data to understand, hey, this is what you got, this is what you could have, here's what the market is, that's why the market looks like that kind of thing, and understand.

Jim Resha: And then secondly to that, I typically, if I'm getting ready to take something to our market, I tell my sellers all the time, I try to put it together based on who the likely buyer is, what's the profile of the buyer. So, that again, takes the data to understand, hey, this buyer pool is looking for investments that fit this category, and this buyer is looking for this, right. And so, I had one just the other day where the owner calls me and says, Jim, I gotta sell this building, I've owned it for four years, it's 90% vacant, I'm getting killed on it, I just wanna see if I can get my money back out.

Jim Resha: Tell me, so I look at it and say, hey, somebody who's gonna buy a 90% vacant building, he's an opportunistic, he's a value-add buyer. Those people underwrite based on these kind of return metrics. So, in order to do that, we've gotta look at your building and say, hey, this is where it is, this is what it's going to take to get it to stabilize, you're gonna have to spend this much money, a value-add or opportunistic buyer is gonna pay this max for your property. So, it's the data that just combines, hey, what the market is, what they're willing to do, and reality, right. And, well, I don't create the market, I'm just trying to communicate to my best what I think it is.

Bill: Yeah, what about like specifically in terms of the building operations data itself, you know, like the building automation systems or building operations, building management systems, those things, are you seeing, I mean, do you see much of that in your involvement? Are you seeing a notable increase or an improvement in those types of data that helps drive improved success in the buy-sell process? Does it get down into those types of data as well?

Jim Resha: Yeah, I mean, it's a piece I wish I had a little more information on, but from an operating perspective. So, when we're valuing, we're always looking at those operating statements. So, you know, I'll typically, if I don't get it in the format, I put it in a format of, hey, what percentage are each one of these line items in the operating statement doing? And then I'll kind of look at those based on industry standards, based on kind of that local area and what they do. And I might use, you know, technology just to say, hey, what is the range of, you know, blah, blah, blah in Orange County for this expense? And, you know, kick that out.

Jim Resha: And then I can look at that if I don't have it, you know, if I can't go over to the property management and get some like properties and that kind of stuff to really kind of trace it to. So, I'm looking for, you know, the highs and the lows. Hey, you know, you're paying, you know, way less for maintenance than your competition is. And, you know, from the curve, it shows, right?

Property Management and Technology Integration

Drew: Is it fair to say that data and digital strategy, because they kind of go hand in hand in this context, are no longer optional. It's part of fiduciary responsibility by every operator. The more you could present a transaction, the more positively it would impact the valuation.

Jim Resha: I think one of the shift bill, great question, over the last couple of years in our business. So, we don't do property management. So, if it's our property, we hire a third property management, or we work with typically a third property management. Sperry has a third-party property management company. So, what we've found out is there's a wide range in how property managers deliver their service. So, typically, when I'm looking at valuation, you know, I've got to look at how that property is being managed, right?

Jim Resha: And so, sometimes when property managers might be on the less technology-driven, less willing to work a little harder, things typically slide, right? So, you know, it's hard to go in and say, hey, you got this problem and this problem, and your property manager doesn't do this. And if they did this, and they've done it over the last 10 years, we wouldn't have this problem that I'm communicating to you right now kind of thing.

Bill: Yeah, and that's by no means a market statement of property managers. There are some that are stellar, and there are some that are not, and that's just how any market is, right? So, that wasn't a statement. That was just like, okay, I can see that, but from an investor perspective.

Jim Resha: And I would add to that, Bill, is that for the most part, the property manager thinks they're doing what they were hired to do, right? The property owner communicated, hey, I don't want to spend that money, no, I don't really want to do that, I don't want to do that. So, the property manager is not equipped with the data, and not able to have the conversation that says, hey, if you don't do that, it's penny wise, pound foolish.

Empowering Property Managers with Data Tools

Jim Resha: I was a guest on a podcast last month, and the other, it was a panel, and somebody up on the panel said, we are seeing a lot more owners delegate technology and data choices to property management, and Lord help them, because they're not equipped for that. They are used to dealing with tenants, and signing leases, and operating a property. It doesn't mean making technology and software and network choices. That's a whole different skillset that ownership hasn't equipped them to do.

Jim Resha: So, we wrapped our arms around that years ago at OpticWise, but we talk about it in the book, that you've got to pick the right teammate to run that play. And if you don't give them the tools, or the education, or the resource to do it, it's not fair to say they didn't do it. So, we go out of our way to try and help property managers execute this part of the data in the digital infrastructure.

Jim Resha: I mean, investors, they really want to know where the data ownership is, what the digital infrastructure is, what the operational visibility is. And the most successful ones are the ones that empower the property manager, not limit them.

Drew: So, where do you most often see those overlooked? Those being data and digital infrastructure. Is it across the board? Is it overlooked when a property transacts, when it's being built, when it's upgraded, downgraded? Where do you see data being the most value and of the least value? Not making it a property management discussion, just in the ownership cycle of a property.

Jim Resha: Yeah, I think, if I go back to my premise, that I think that technology is there to allow us to do more of the things that we need to do, or should do to maximize whatever we're doing. So, if I'm an owner, I think I want to use technology to allow me to spend more time growing and building my portfolio, right? So, what are those things that takes me a long time?

Jim Resha: Owner, operator, or a property manager, they spend most of their time creating accounting and reviewing performance, not doing it. And the property managers, the last week of the month, they're getting ready to close out the month, they're getting ready to, and then they spend the first week of the month getting the reports out to all the property managers and stuff, and they spend two weeks with their head down at their computer trying to get reports done. And they haven't done anything to try to understand, really, how are we doing? Same with the board of building engineers. Yeah, the board of building engineers are like, funny, Mr. Owner, but what could you have done? Where are we going? What are the trends looking like and that kind of stuff? And that's where I think we can use the data better from the ownership standpoint to help us do that. We use it on the private equity company to target where we want to be, target what our acquisitions want to be, what kind of stuff do we want to be looking for, and where is that happening? The clarification in the end, property building engineers, for instance, they do the same thing and spend too much time heads down looking at numbers, in our opinion, and they may or may not work for property management, depends on how it's structured, but their skillset is in moving air and water and power and all that stuff and taking care of tenant problems. They shouldn't be doing the analyzation. They shouldn't be doing things that could be automated. And the data enables them to be so much more efficient, just like the data enables property management to be that much more efficient. So thanks for bringing up those examples. I was just reiterating that we do see sometimes building engineers are under that umbrella and sometimes they're not, but they are a key to leveraging efficiency on reducing OpEx.

The Extra Floor: Personal Insights and Advice

Drew: Yeah. Exactly. Well, shall we head to the extra floor? Jim, do you know what the extra floor is? Do you even know?

Jim Resha: No.

Drew: So Jim, what we do at the end of our discussions like this, we like to do, we just call it the extra floor, the spirit of commercial real estate, but it's kind of a shift from what we've been doing just in terms of kind of long form discussion, Q&A, and it's just a series of five questions, gut level responses, as short as you want it to be. There's absolutely no wrong answer, of course. What is a book or a podcast that has shaped how you think?

Jim Resha: I spend a lot of time listening to podcasts. Probably the best one that gives me the most well-rounded is a buddy of mine named Bo Barron who has one called Commercially Speaking. And so he just touches on a really broad range, but he spends a lot of time talking about what he actually does and he brings guests on to do it. And he's had a couple technology guys that have come on and been guests on his shows and I learned a lot about AI from one of them, for sure.

Drew: Awesome. So shifting gears a little bit, what's the best piece of career or life advice you've ever received?

Jim Resha: I think 43 years, I've had a lot, a lot of advice. I think learning that my time, my hourly worth was mine to own, right? And understanding, hey, how I spend my time, I can waste it, I can do the things I wanna do, but really I control it. And being able to dictate how and where I spend my time and being confident enough to be able to say, hey, Mr. Client, I can get to that at two o'clock because I've got other, this is how my day already lined up. I tell people all the time, hey, our clients will waste our time if we let them. So when it comes down to technology, maximizing my time is really critical for me.

Drew: That's great. I love it. Time is so often a component of these answers that we do here in this section of the podcast. That's great. Number three, what is one habit or practice that consistently makes you more effective?

Jim Resha: Good question. So last year, the first book I read last year was Atomic Habits. And out of that, I created my morning habit stack and I just worked on formalizing. So I know I've created, I've got a three-hour habit that I do from the time I get out of bed till I leave to go to work. So I know in order for me to get everything done, that includes reading my emails, reading the news articles, working out, eating breakfast, all that stuff, it takes me three hours. So I know if I gotta be somewhere, I gotta start three hours before. And I just run that three-hour plan and it just sets me up with a win for the day. I'm already like, hey, I've done what I need to do, I feel equipped, I know what my calendar is, I know what's coming ahead, and I'm just good to go. So that's probably the best habit I've ever really formalized.

Drew: Atomic Habits, I love it. Well, this one's easy. Early bird or night owl?

Jim Resha: Early bird.

Drew: I kind of thought so, given your atomic habits, but yeah.

Jim Resha: Sounds like it, yeah, for sure. Typically four o'clock a.m. That qualifies as early, for sure.

Drew: All right, number five, the last one here, Jim. When you're not working, what do you love to do that recharges you?

Jim Resha: I love, number one, USC football. That's fun for me. I've got a boat out at the lake, so getting out to the lake, getting out at the beach, getting on the water, anywhere I get, that's a close second. I'll have to like that second one.

Contact Information and Closing Remarks

Drew: Fantastic. So, Jim, we put these in the show notes too, but for the listeners only that are not looking at it, how can they contact you? What's the best way?

Jim Resha: Contact me. The Resha Group website is thereshagroup.com. My email is jim.resha, that's S-P-E-R-R-Y-C-G-A.com, and you can find me by my name, Jim Resha, on LinkedIn. And for clarification, Resha has one E, right?

Drew: Yeah, okay. One E, R-E-S-H-A, okay. Well, Jim, thank you so much for joining us today. It's been a great time. We really appreciate you being here, and as always, we say thank you to our listeners out there. And listeners, be sure to follow, like, subscribe, and we will see you on the next episode of Peak Property Performance.

Jim Resha: Thank you.

Bill: Thanks, everybody.

Jim Resha: Thanks so much, guys. That was fun.