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Do Listing Agent Work in Commercial Agency Sales?

When it comes to commercial real estate agency activities, the concept of a listing agent driving new business opportunities is sometimes overlooked. The process of having one or two listing agents in your office does have merit providing you set the right rules and operational systems.

This is what a listing agent will generally do for you:

  1. They will generate more listings faster than the other agents because that is their speciality
  2. They will help you get more signboards into your territory
  3. They can drive new business in segments, property types, and locations

Not every salesperson will be a good listing agent. It requires a special type of person that easily builds relationships and converts listings. This says that the person or people that you put in this role should be:

  • Expert in time and task management so they are prospecting every day in the right way
  • They have systematic call processes to underpin call and database growth
  • They target quality new listings in locations that sell
  • They understand the processes and methods of sale so each listing is correctly established given the local property trends
  • They can present the agency and their listing offering well to customers and prospects of all types
  • They can list all types of property comprehensively and correctly with all types of prospects and clients
  • They can design marketing campaigns that tap into the right target market for each and every property type
  • They commit to the process of database collation and usage.
  • They build strong client relationships for the long term.

A good listing agent will generate listings more efficiently than other agents in the office. Given that listings are the lifeblood of the real estate business, it is essential that the listing agent is correctly paid commission from each and every deal. When you find the right agent for this role you have the potential to create more listing growth. Just ensure that the business relationship between the listing agent and the others in the team correctly protects the client connection for the long term. Give the client a great business experience in listing, marketing, negotiating, and follow-through of any sale transaction.

You can get more tips on commercial real estate agency practice at our website http://www.commercial-realestate-training.com/

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Does the Listing Agents Concept Work in Commercial Sales?

When it comes to commercial real estate agency activities, the concept of a listing agent driving new business opportunities is sometimes overlooked. The process of having one or two listing agents in your office does have merit providing you set the right rules and operational systems.

This is what a listing agent will generally do for you:

  1. They will generate more listings faster than the other agents because that is their speciality
  2. They will help you get more signboards into your territory
  3. They can drive new business in segments, property types, and locations

Not every salesperson will be a good listing agent. It requires a special type of person that easily builds relationships and converts listings. This says that the person or people that you put in this role should be:

  • Expert in time and task management so they are prospecting every day in the right way
  • They have systematic call processes to underpin call and database growth
  • They target quality new listings in locations that sell
  • They understand the processes and methods of sale so each listing is correctly established given the local property trends
  • They can present the agency and their listing offering well to customers and prospects of all types
  • They can list all types of property comprehensively and correctly with all types of prospects and clients
  • They can design marketing campaigns that tap into the right target market for each and every property type
  • They commit to the process of database collation and usage.
  • They build strong client relationships for the long term.

A good listing agent will generate listings more efficiently than other agents in the office. Given that listings are the lifeblood of the real estate business, it is essential that the listing agent is correctly paid commission from each and every deal. When you find the right agent for this role you have the potential to create more listing growth. Just ensure that the business relationship between the listing agent and the others in the team correctly protects the client connection for the long term. Give the client a great business experience in listing, marketing, negotiating, and follow-through of any sale transaction.

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Finding the Right Salesperson for Commercial and Retail Real Estate Sales andLeasing

When you run a commercial real estate agency it is really hard to find the right salespeople for the jobs at hand. How can you find the right person that really understands sales, leasing, and property management? It is very rare to get a salesperson that understands all 3 disciplines, however they are out there.

Most agency principals revert to attracting successful agents from other offices in the same location. Whilst that has some merit, you still really do not know exactly who the person is when you hire them. You do not know how they work and how they think. Mistakes can be made and that will cost you money and time.

A tip for real estate principals in hiring new salespeople and agents is to put the candidates through a character test such as ‘Meyers Briggs’ or similar. Whilst the process will cost some dollars, you will really know some key things about the person; such as focus, discipline, drive, and sales ability. In commercial property these skills and traits of the salesperson are really important.

Do not employ a salesperson just on what they say. Find out what they think and what they know.

You can get some more ideas for commercial agents and brokers at our website

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Who Drives the Commercial Property Sales or Lease Deal?

So who drives the sales and leasing deal in commercial or retail property sales and leasing? When it comes to your career and your market outcomes as an agent, it is essential that the deal is driven by you the salesperson.

Whilst this sounds obvious, I have seen so many property salespeople negotiate a heads of agreement or contract, and then leave the rest of the process to solicitors to finish. A few weeks later they find that the deal is not progressing or there are differences that have developed between the parties.; damage control then is the only way forward.

So the message here is that if you negotiate a deal of any type, you must stay with it to the very end. Its OK for others to get involved in the documentation and the settlement work, but make sure that you are still on the job and keeping the parties moving forward. Remember just who your client is and keep them up to date with all progress and issues.

You can get more ideas and tips for commercial real estate agents and brokers at commercial real estate training programs online

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Territory Domination Tips for Commercial Property Agents

Every real estate agent wants to dominate their market. The competition around you makes it hard but if you follow the rules you can get more than your share of listings and commissions even in a tough property market. It all comes down to what you do and your focus in systemising the right actions. Success comes from the system and your ability to maintain it.

Systemising your most important actions is then the key to building market dominance. Every day you have to do the right things; repetition is the key. Whilst some markets are quite special, here are some key critical things to consider and build into your diary system or time management process.

  • Calling new people every day should be part of your prospecting model. Without new people to fill your prospecting funnel, nothing new will happen.
  • Make sure that every listing has a sign on it (where possible), as local businesses and property investors will perceive the sign as market domination
  • Refresh your listings on your website and industry website sites so they are up to date and active for search engines and the prospects that are looking around
  • Write a blog on your industry speciality and keep it new and fresh with new property ideas and observations
  • Write articles and send them to the article sites for more market exposure to search engines
  • Create a email newsletter to send to your contacts and prospects every 2 weeks
  • Use a database to capture the qualified contacts that you make and keep in contact at least every 90 days.

It’s not hard to drive a great market share; it just takes personal system and persistence. Most of your competition agents will not do all of these things on a regular basis. Success as a real estate agent awaits.

You can get some more ideas on this and other tips for commercial and retail real estate agents at http://www.commercial-realestate-training.com/

 

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Solutions for Commercial Property Agents in a Tough Market

Yes it is a bit tough in the property market at the moment. The challenges are many but they can be handled with the right mindset and personal processes.

When this tough property market becomes a frustration for you the agent, the answer is to get more active in prospecting. Action within a consistent prospecting system creates momentum with the right types of prospects. This will turn a difficult market into and OK market for you.

Property owners and investors need agents that know what is going on in a tough market. The more that you know, the more value you are to the property owners you can serve.

Systems of action are more important now than ever before for real estate agents. Systems help to keep them on the critical things that matter. That is:

  • Finding buyers that can purchase in this market
  • Finding tenants that want to move soon to alternative premises
  • Identifying sellers that need help in shifting the property
  • Matching sellers and buyers to a property sale off market
  • Matching investors and tenants to a lease when vacancy threatens the cash flow income from the property

One key word convers all of these points. That one word is ‘prospecting’. When times are tough, start prospecting more than ever before. At least half of your working day should be spent outside the office prospecting.

You can get more ideas on cold calling and prospecting for commercial real estate agents at our website http://www.commercial-realestate-training.com/

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Finding Commercial Tenants in Today’s Property Market

When you work in commercial real estate agency and property investment, you soon start to understand the high value of good tenants in a property investment. It’s in volatile and tough leasing markets like these that the pressure raises and the tenants that you have in the client’s property are just so important.

The reality of all this is you can make a lot of commission for yourself as a real estate agent in this market, if you work the leasing churn and the business tenants that need or want to move. Sure, sales are a bit slow and tough, but leasing is really active. Businesses are on the lookout for good premises to pick up and move to where they can improve their net position. Some businesses need to move and they need help.

Need to make some commission today? Start working the leasing market; you can go back to sales when times allow, but right now start picking up on the leasing of your local business community. Here is where you will find tenants:

  1. Call down the business telephone book for your area
  2. Work the businesses in the local streets by dropping by and leaving your card.
  3. Look for owner occupier businesses that want to sell and get their hands on some cash from the sale. Do a sale and lease back.
  4. Talk to more people locally.

Commercial real estate is not that hard; it is just requires knowledge of the local area and your ability to talk to many business owners and property investors in an ongoing and consistently relevant way. Quite soon the market will become friendlier for you.

My name is John Highman, check out some more of my ideas and tips for commercial real estate salespeople at http://www.commercial-realestate-training.com/

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Make Your Best Pitch for the Commercial Property Listing

When you, as a real estate agent, pitch for a property listing in commercial real estate sales or leasing, the reality is you will not win every property that you go for. You should however aim for a better average success rate than the other agents that you are up against. A 65% to 80% success rate is a good result. It shows that you are doing things in a way that is attractive to most of your clients and prospects.

Some clients and prospects will be motivated by things that you cannot change or wish to cooperate with as part of the listing; the reality is that you should not agree with all the demands of the client in a sales or lease listing pitch. Your confidence, market share, knowledge of the market, recommendations, and communication skills in the pitch will determine how successful you are. These factors give you leverage above the competition and through the soft demands of the client.

Whilst the client may demand discounts in fees, low vendor paid advertising, and open agency methods, the reality is that they are not dumb and will still choose the best agent to do the job. They want the agent that can market the property in the most efficient way to get the best outcome for them. When they try you on, you do not have to agree. In most cases they will take your offer and recommendation if you stick to the process and show them why you are the best agent to do the marketing and promotion of their property.

Do not be generic in your sales pitch. Be specific to the property and connect with the client’s dilemma. Show them how you can resolve their property pain.

You can get more tips for commercial real estate agents at http://www.commercial-realestate-training.com/

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Retail Property Managers – Get to Know Your Tenancy Mix

When it comes to managing retail property today, one of the most important elements of property performance remains the tenant mix and the tenants in the property. The tenants have to be supported in their business function by the landlord and in turn that underpins the rent for the property and lessens the impact of future vacancy. Retail property managers are part of that equation. So here is the retail centre management focus for today:

  • Get to know your tenants
  • Help your tenants remain in occupancy
  • Help your tenants trade at better levels
  • Communicate frequently to identify tenant pressures early
  • Do not rule out rent adjustments to keep struggling tenants (it’s better than a vacancy)

Traditional retail property management and centre management has in the past had a high focus on income and expenditure control. Whilst these factors are still important today, the tenant mix and the tenant profile is now more important than ever before.

To the message today is times are tough for some tenants in the retail sector and in the shopping centres. Anything that underpins the levels of sale for the tenants should be encouraged. The landlord directly benefits from stable income and better property performance.

Make no mistake, real estate agents are out and looking around now to grab the tenants from other properties. Lease incentives are real and relevant to some of those tenants that are under pressure.

Centre Managers here is the drift; get to know your tenants very well and keep them as happy as economically possible. The landlord will appreciate the stability you create for the property.

You can some get more tips for retail property management and leasing at my website http://www.commercial-realestate-training.com/

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What to do with a Tough Commercial Lease Negotiation

In this property market many of the lease deals that we negotiate are tougher due to the outdated or poorly informed requirements of a landlord, and the market savvy intentions of the tenants. As real estate agents we should negotiate the lease deal with the best outcomes for our clients, but how do you do battle with a client landlord that just will not listen to the facts as they apply in today’s terms?

The property market has changed and that includes rents, time on market, methods of marketing, incentives, lease terms and levels of enquiry. To take a vacant tenancy to the market in this economic climate we need the best solutions and strategies in all situations. Without a clearly defined target market strategy for the vacant tenancy nothing will happen fast. Wasting your time or that of the landlords is not a wise strategy today.

The key difference in this property market between getting a successful lease done or having a hard to lease property at inflated asking rentals, will always be information. The leasing and managing agents that research the market facts fully will always have a better chance of converting the client landlord to more realistic negotiations. This is the information that you need:

  1. Asking rents in today’s market
  2. Incentive levels as they apply to different property types
  3. Details of vacancy rates in the local area
  4. Time on market for each property type
  5. Levels of property improvements, services, and amenities sought by tenants today
  6. Comparable property details in the local area
  7. The details of recent leases completed in the local area

It does not always matter where you start your rent for the premises, but it does matter where the rent is headed over the term of the lease. A well crafted solicitor prepared lease that incorporates the landlord’s investment plan will always pick up the rent and shape it from the start through rent reviews of balance and growth.

Agents should be across all industry rental trends and comparable properties as part of the lease marketing and negotiation process.

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Rent Roll Importance in Commercial Real Estate Agency

When you run or operate a commercial real estate agency, the sales and the leasing deals that you do are all very nice, but the property management rent roll is far more important to the stability of your office in the long term. In this property market it is the commercial agencies with the rent rolls that are more attractive, stable, and functional. When it comes to selling an agency at some time in the future, that is exactly what you want.

That being said you also need to ensure that you have skilled and knowledgeable property managers if you intend running a commercial or retail property management rent roll. Commercial or retail property management is quite a unique process that cannot be easily undertaken without knowledge. Property managers that lack the experience will quickly destroy the performance of the property. Landlords and tenants in commercial or retail properties do not easily tolerate average service from their property managers (nor should they).

So what does a rent roll bring you as an agency business? Try some of these:

  • Stable commission cash flow from the rent roll
  • Interaction with property investors
  • Investors that own multiple portfolio property
  • Tenant enquiry to occupy local managed properties
  • Controlled Leasing fees opportunity from managed sites

When you are operating a commercial agency, look to starting a commercial rent roll with the right people with the right skills.

When you take this process into your business plan the next question will be ‘How can I find new managements?’ Some property owners self-manage, but there are others that do not want to do so or do not have the expertise. They are found mainly by capturing the potential management need at time of purchase of the property; they are also found by direct property owner approach. Over time you can make a portfolio of managed properties grow.

This simple addition to your commercial real estate agency business plan will create significant long term opportunity.

You can get more tips for commercial real estate agents at http://www.commercial-realestate-training.com/

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The Right Way to Inspect Commercial Property

When it comes to an agent inspecting a commercial property with a prospective tenant or buyer, the inspection process has to be specific and planned. It should be planned so that the features of the property are moved to and through. Many agents just don’t do it well or fail to plan the inspection. When you think about it, a standard property will always have good points or features to work with and they will be relative to helping negotiate and close on the sale or lease as the case may be. It just takes planning.

So what do most agents do? They meet the prospect at the property, unlock the door and then take a walk through (with no immediate inspection strategy in mind). The reality is any agent can do that. Make the inspection strategy a key feature of your listing pitch to the client, and use it to help define the selling points of the premises. It is a very powerful tool to develop.

Here is my premise:

  1. If you are to market a property for sale or lease then you had better figure out the best way to show it
  2. Create a list of key points that really sell the property and prioritize those key points for the walk through
  3. Every property inspection should have 4 or 5 points that you can walk to and illustrate to the prospect

Every stage of the commercial property marketing process is something that can be improved. Think about it and make your inspection and negotiation a unique factor of your property pitch and campaign.

You can get more tips on commercial real estate sales and leasing for agents at http://www.commercial-realestate-training.com/