In commercial real estate brokerage, many challenges will exist from time to time for every agent. The challenges commonly ‘show their face’ in prospecting reluctance, poor quality negotiations, low listing conversion rates. Confidence and local market knowledge are keys to the process of breaking through those barriers. You can add to that the individual requirements…
When it comes to running a successful commercial real estate brokerage today you will require a solid Internet presence and a professional web site. It is a sad fact that many brokers have little understanding of the Internet and their website profile. That can then have a dramatic impact on their listings and commissions. There…
In commercial real estate today, we negotiate in many different ways in all stages of a transaction. The parties involved in a sale or lease, and within the property types will have a lot to do with the levels and the intensity behind the negotiation. It directly follows that every broker and agent should be…
In commercial real estate brokerage today, it is essential that you have a plan relating to your sales territory and prospecting activities. Every day the plan can be ‘actioned’ and improved. Over time that will give you growth of market share. If you work a very large territory or diverse town or city, the market…
In commercial or retail property today, you should have some systems to help you qualify the tenants that you are working with. Don’t be too eager to hand out property information without understanding who you’re talking to, and exactly what they are looking for when it comes to a new property or lease requirement. Given…
One of the most frustrating issues in commercial real estate brokerage is with staff. The first problem is in finding the right people for your team, and then the second problem is the issue of keeping them for the long term. When you lose a team member for any reason, the costs incurred in replacement…
Every commercial real estate broker or agent should use a direct approach to marketing so they build dominant market share and listing opportunity. To do this you will require marketing distribution plans and systems. Think about how you want to get your message and services to the right people locally. In most cases you should…
In the commercial property industry, the role of a buyer’s agent is quite specific and professional. That being said, focus on the larger clients and the businesses in your local area as part of the process. Quality is the key when it comes to working as a buyer’s agent. You should work for those clients…
Every commercial real estate broker or agent should have a sales plan. In that way they can track their progress when it comes to market share, commissions, and listings. The property market will change substantially during the calendar year. It changes for a number of reasons including economic pressures, business sentiment, seasonal festivities, and client…
I have put this template together to help my online friends have a serious look at what they are doing in commercial real estate business activities today and how that can be improved. Consider the property market in your town or city. How are the elements of the market coming together for you in sales…
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