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Persistence Makes the Best Salesperson in Real Estate

Whilst it seems obvious, persistence is the key to success in selling or leasing real estate in any market. Yet so many salespeople struggle with the fact and the discipline.

The property market is tough for many salespeople today, and yet with a little bit of persistence and commitment they can build a better business; they just get out there and they can do it.

Persistence comes alive in many types of activity in real estate. Here are a few of the great ones I see in the best salespeople I know:

  1. Persistence in finding good quality properties to list for sale or for lease
  2. Persistence in talking to local business leaders about their business occupancy needs
  3. Persistence in making 50 or more cold calls every day to local property owners and business proprietors
  4. Persistence in target marketing every property they have listed
  5. Persistence in networking existing contacts and clients so they are remembered
  6. Persistence in direct marketing each property by the telephone to qualified prospects
  7. Persistence in formulating inspection strategies for every property listed
  8. Persistence in talking to all the local financiers about finance availability and requirements
  9. Persistence in negotiating even when the deal seems dead
  10. Persistence in taking action even when they have heard the ‘no thanks’ response 50 times

The property market has become a whole lot more selective and restrictive, yet this will change again one day and we will have a better market. For the moment there are buyers and tenants out there who want to occupy premises. The only way to find them is through persistent and thorough prospecting; it’s a personal process. It takes a special person today to handle this fact and do something about it. The great advantage they will have is that they will succeed where most of the competition salespeople not taking action will fail. Success awaits those that work hard and persist with their prospecting plan.  You can get more tips for real estate agents right here at http://www.commercial-realestate-training.com/

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Lease Analysis in Commercial Sales

When selling commercial or retail property to the investment market as a real estate agent, it is very much the case that the existing tenant mix and lease profile of the property will impact the sale timing, strategy, and the eventual price to be obtained. So if you are a salesperson specialising in commercial or retail property, you should get very familiar with lease analysis and interpretation. Here are some of the things to be reviewed in a lease prior to any sale strategy implementation.

  1. Types of tenants and relative stability. Are they the types of tenants that a purchaser would see as adding value to the property
  2. Anchor tenants in the property and how much more time they have on their lease
  3. Tenant mix around the specialty tenants.
  4. Vacancy history in the property and any current vacancies
  5. Rent reviews coming up and the types of reviews. They may improve the landlords cash flow and hence the value of the property.
  6. Options coming up and the timing relative to sale. It sometimes pays to get these things done before the sale marketing commences.
  7. Any lease incentives that are still current and that may drag on the landlord’s cash flow. It is best to get these out of the way before sale.
  8. Recovery of outgoings in the lease and how they improve the landlords cash flow will be a factor in the sale.
  9. Make good issues and costs could have an impact on the landlord or the tenant. Check the lease to see just who is responsible for remediating the lease at expiry.
  10. Any supplementary rents and income should be identified. This can be licences for storage, car parks, signage, and similar income that improves the bottom line for the landlord

So if you want to sell commercial or retail property as a career, get used to reviewing and interpreting leases. It is a skill that will improve your chances of winning the landlords confidence and the listing.  You can get more information about lease analysis at http://www.commercial-realestate-training.com/