Friday, November 25, 2011

Commercial Property Sales - Attitude Matters

When you work in commercial real estate the chances are that things will get challenging from time to time. The property market is always on the change and salespeople need to keep up with that change.

Property owners will be under pressure to keep their mortgagee happy with property values and the tenants in the property could be on the move hence creating a threat of a higher vacancy factor. The salesperson that really works these opportunities will do well in any market and at any time. It all comes down to focus and action.

Investors that own commercial or retail property really do need the help of a good agent. A property agent that has a great database and really does know what is going on in the local area, will always be of value to a property owner.

So many salespeople in commercial real estate live a life or career of new starts. They are always starting a fresh new project or concept. They fail to stick to the project and have to go back to the beginning.

How good would it be if they started something and then kept doing it? Where would they be today?

You can get more ideas for commercial real estate agents at our website

Saturday, November 19, 2011

How to Select Tenants for Commercial or Retail Property

In the commercial property market today the fact of vacancy is quite a challenge and an ongoing issue for many property managers. As a direct result of a vacancy, the property manager will out there looking for the best tenant to suit the tenancy mix.

On that basis it pays to use a checklist in the tenant selection process given the property type and the landlord in question.

Here are some ideas to incorporate into the tenant selection process:


    Seek details from the tenant has to their occupancy history in other properties. If possible visit the earlier places of occupancy to check out the tenant story and observe their impact occupancy on the property and the tenancy.

    If the tenant will permit, talk to the previous landlord and or property manager that controlled their earlier place of occupancy. Identify if any matters of concern or default frustrated the lease situation in that location.

    The intentions of the tenant should be identified regards property usage, the required permitted use for the premises, the operations of the business, and any needs for expansion or contraction that could apply in the ongoing lease term.

    It is wise to obtain a legally binding bank guarantee and or bond that will protect the landlord in the case of lease default.

    Check that the identity of the tenant is both legal and real. This is to ensure that any default can actively pursue the legal identity.

    Any new lease you are considering should be structured around a fair and reasonable market rental, together with a rent review profile that keeps pace with the surrounding comparable properties.

    The provision of lease options or renewal options to the tenant may be counterproductive in the lifecycle of the property or the investment plans of the landlord. On this basis any request by the tenant for an option should not necessarily be agreed to.

    Seek a business history from the tenants accountant.

These simple ideas will help with the selection of tenant and the negotiation of lease. Leasing managers and property managers will find great benefit in the use of a checklist in the tenant selection process.

You can get more free ideas regards commercial property management and commercial property leasing from our website at
http://www.commercial-realestate-training.com/

Sunday, November 13, 2011

Commercial Agents - Finding Commercial Property Listings and Selling them Faster

Today we have a different property market. In many locations the sellers are finding it hard to move their properties, and agents are finding it just as hard to make the sale. So why is this?


 
It all comes down to the availability of money and the loan value ratio required by the banks and lending institutions. Some would say that inflated prices asked by some sellers may also be an issue, and that would be somewhat correct, but the main source of the tighter property market is the availability of funds.

 
The banks are not lending as freely on commercial given that they know that prices have fallen and some of the business tenants that underpin property occupancy are also under pressure.

 
Things will normally get back on track, although every real estate agent and salesperson has to adjust their current marketing and prospecting efforts so they can attract better listing and commission results.

Here are some tips to handling a slower and tougher property market like that which we have today:
  • Comprehensively and systematically contact all property owners in your territory
  • Get in touch with all business owners and tenants in the local area
  • Monitor the changes to property zoning and new developments
  • Prospect for new business for at least 3 hours every day
  • Learn to love your database and make it the backbone of your daily calls, meetings, and emails.
  • Door knock the streets in your commercial and retail property areas to meet with the tenants and property owners
  • Follow up everyone on a 90 day cycle so they remember you at the right time in the future. 
When you follow the patterns like those above, you will find new business opportunities. In any market there are property owners and tenants that need a hand with a property challenge. Be there for them.

 
You can get more tips for commercial and retail property agents at http://www.commercial-realestate-training.com/

 

Sunday, November 6, 2011

Systems for Commercial Real Estate Agents to Follow to Get Listings Today

When you work as a salesperson in commercial or retail property sales or leasing, the amount of enquiry that you can attract and convert will build your market share and your commissions.  This applies in any market and in any economy.

So often you hear that some salespeople are finding things tough or slow at the moment.  Here is what they should do:

1.       Start to take daily action on greater levels of prospecting and cold calling.  A full 40% of your working day should be devoted to prospecting.

2.       Specialise in both location and property type as this will generally let you be seen as the expert.  When it comes to attracting listings, this is the image you require.

3.       Check out all the good local properties on a street by street basis by talking to the property owners to see what pressures or needs they may have and need help with.

4.       Speak to all the local business owners.  They know so much about the local area and are likely to tell you of some property lead that you can tap into.

5.       Identify what the local tenants are doing in case any of them want to move or relocate to better or different premises.

6.       See what the local property developers are doing and identify if they are seeking to sell of any land banks or acquire new sites for fresh development.

7.       Monitor the local property zoning activities in case the demographics of the local area is up for a change.

8.       Use a good database to capture any activity here.  It is surprising just how important your database becomes in a quiet property market.

The system to support you in a quiet property market is built around deliberate and systemised action.  When you take the right action and keep it going, things happen.  More quality listings will lead to better commissions and greater levels of enquiry.

You can get more free tips and articles on commercial and retail real estate training programs online at http://www.commercial-realestate-training.com/  

Wednesday, November 2, 2011

Commercial and Retail Property Managers - Get Your Tenants Under Control

When it comes to managing commercial or retail property, the tenants under your control as a property manager can create a reasonable amount of stress and activity on a daily basis. For that reason tenants need to be well managed in keeping with the landlords property performance program.

An interesting question arises as to how many tenants a property manager can successfully control. It is a frequent question although it doesn't have a standard answer; that is because each and every property is unique and different as well as the types of tenants contained in each property.

Here are some observations regards the property management workload process:


    1. Retail Properties generally create far more work for the property manager. This is due to the greater level of interaction with the tenants, and the required reporting processes with the landlord.
      2. Industrial property is generally easier to manage with far less activity relating to leases, outgoings, and tenant management.
      3. Office Property tends to have the middle ground when it comes to workload and property management activities. 4. Properties with multiple tenants in occupation need to be carefully managed because each one of those leases will be unique and different. 5. Some landlords have an extensive reporting and communication process that can overload the activities of the property manager. If that is the case, then a higher fee should be established for the additional workload.   
    I have seen property managers successfully manage up to approximately 200 tenants in a Retail Shopping Centre Property. Beyond that point, the management process becomes too complex and beyond the abilities of one person to stay under control.

    You can see some other tips for commercial and retail property managers at our online training website
    http://www.commercial-realestate-training.com/

    Sunday, October 30, 2011

    Find and Qualify Commercial Property Buyers

    When you work as an agent in commercial or retail property, you will come across many buyers and would be buyers if circumstances were right for them. Qualifying the buyers that you work with is critical to the process of matching them to the right property. Without this process you will waste your time and effort in taking them to property.


     
    Here are some questions to put to the buyers that you come across:
    • What are they looking for in a property? 
    • What is the ideal location for them? 
    • What improvements are essential to their property decision? 
    • Are they buying the property for themselves to occupy or as an investment? 
    • When does the deal need to be done by? 
    • What have they done regards finance and lending arrangements? 
    • If they want tenants in the property as part of an investment performance, what type of tenant mix will solve their requirements? 
    • Who is the decision maker and are you talking to them directly?

     There are likely to be many more questions if you specialise in a property type or location. Importantly you are asking the right questions and in the best way possible.

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

    Saturday, October 29, 2011

    Finding Tenants For Commercial Real Estate

    In this property market many real estate agents need more tenants to fill commercial and retail property. The good news is that some businesses need to relocate and they are looking around whilst rents are good and vacancies are in abundance in quality properties. They need a good local property specialist to help them.

    The more that you know about the local property market, you will find that the landlords and tenants will be attracted to you as the leasing agent of choice. So what do you need to know? Try these:

    1. Rent rates and strategies
    2. Incentive strategies
    3. Lease alternatives
    4. Fitout processes and alternatives
    5. Marketing methods to tap into the local property market opportunity

    The message for agents here is get active; the business is out there.

    You can get more ideas and tips for commercial and retail property agents at our commercial real estate training online


    - Posted by John Highman, Commercial Real Estate Coach

    Saturday, October 1, 2011

    Ways to Use Your Database In Commercial Real Estate

    In this property market your real estate agency database is everything when it comes to business generation. The agents with a comprehensive and large database rarely experience a downturn. They simply adjust the market that they serve and then they offer specialized property solutions to the most common property pain that landlords and owners have. Right now that is:
    - higher vacancy factors
    - pressures on rental levels
    - tenants that need help to survive
    - properties that just have to sell regardless of end price
    - higher occupancy costs
    - lower customer numbers in managed retail properties
    - lower levels of turnover for retail tenants
    - rebalance required for the tenancy mix

    General real estate brokerage works well at this time. That means working both sales and leasing opportunities of all types. You know about property and you know what is going on in the market; provide the help that property owners require and the business will follow. Use your database productively by doing the following:
    - track all contacts you have every day
    - go back to old contacts and open the door again to see if those people need help or assistance with property matters
    - street by street contact the property owners and the businesses to see if they need help with property challenges.
    - keep in touch with all your contacts at least every 90 days and sooner if you think something is active.

    Commercial real estate agency is not hard even in these tougher times; it just takes a very efficient salesperson making the new contacts each and every day. Your database is critical to the process of growing your business and driving opportunity your way.

    You can get more help on commercial real estate skills at our commercial real estate online coaching website.


    - Posted by John Highman using BlogPress from my iPad

    Location:Gibraltar Circuit,Parkinson,Australia

    Monday, September 12, 2011

    Make Your Commercial Property Sales Pitch Work

    When you work in commercial real estate sales or leasing, the presentation or sales pitch for listing, selling, or leasing happens frequently each and every day and week. So just how relevant and good are your pitches and presentations in this current market? Do you stand well above and beyond the other real estate agents as being the best in the area?

    Here is a checklist to make you think about your pitch success rate:
    1. Can you say that you are winning at least 50% of your sales pitches?
    2. How are you showing the client that they need to reach a clear target market with their marketing campaign?
    3. What message are you sending regards the marketing that has to be done?
    4. Are you adopting a solution approach to the property pain that the client has now?
    5. Are you telling the property owner exactly how you will take prospects to and through the property to maximise the outcome?
    6. Are you simplifying the listing and marketing process so the client can see the easiest way ahead?
    7. Are you giving the client alternatives to choose from in your sales pitch or presentation?

    When you match the presentation to the needs of the client, they listen more and consider the recommendations with better focus.

    You can get more free articles and tips on commercial real estate at http://www.commercial-realestate-training.com/



    - Posted using BlogPress from my iPad

    Wednesday, August 31, 2011

    Finding Tenants in Tough Leasing Markets

    Many times I have seen slow leasing markets and tough tenants make the leasing job all that much harder for some real estate agents. An abundance of lettable space also adds to the frustration.

    The market that we have now is just a repeat of situations we see about every 15 or so years ago. Its just part of the cycle. Things don't keep going up forever you know!

    When the going gets tough, the best thing to do is get out into the local area and talk to even more business leaders and tenants. Action is the key to breaking a tough cycle. When you talk to people, something just opens up and opportunity appears.

    When the tough property market prevails for some time, it thins out the agents in the local area and leaves more opportunity for those that can act. So the message is, take action and lots of it. The next deal is somewhere nearby.

    You can see more of my tips for real estate agents right here


    - Posted using BlogPress from my iPad

    Location:Gibraltar Circuit,Parkinson,Australia

    Saturday, August 13, 2011

    Levels of Concentration in Prospecting Processes

    When you prospect for new business as a real estate agent, there are times of the day where you will achieve more from the efforts you put out. Knowing your peak performance time will make all the difference in prospecting and cold calling.

    Simply put, your concentration levels are highest during the morning, they peak around the middle of the day and by 4pm they are well on the way down. I tell all the salespeople that I work with to ensure that they get their prospecting done every day before mid afternoon.

    In real terms the prospecting should be done first before anything else but that gets a bit challenging for some that struggle with time management and a number of key tasks.

    Here is a prospecting tip for real estate agents:

    Give your prospecting time a label or a name. When you call it something good and meaningful for you, it takes its own momentum and identity in your daily activity. I call mine 'Call Direct'. It is a positive twist on taking action on calls. Every day I put 'Call Direct' time in my diary. I enjoy the call process and you can to.

    Get more tips for real estate agents at my website here


    - Posted using BlogPress from my iPad

    Location:Brisbane

    Marketing Tips for Commercial Real Estate Agents

    When marketing a commercial or retail property for sale or lease, the real estate agent acting for the client should define the target market so they can see exactly where the marketing is being focused.

    When the target market is correctly set, the enquiry is optimized. The marketing campaign can be channelled at the right segment of the market.

    Given that the first two weeks of any marketing campaign are the most important, the types of enquiry generated in that time will allow the agent to adjust and fine tune the methods of marketing.

    So what is the best way to market a property today? The answer lies in a mixture of traditional and also some more current methods of marketing. Here are some ideas for agents to consider:

    - email marketing of brochures and property detail
    - database direct calling of qualified buyers
    - flyers through the mail
    - signboard on the property
    - advertising in local newspapers
    - local property investors
    - speaking to neighboring businesses and property owners

    Today's property market is selective and knowledgeable. Buyers know what they want and the factors that reflect a good property performance. The buyers that miss out on one property purchase are the prospects for the next quality listing that comes along. Property marketing is almost an art; it takes diligence and hard work on the part of the agent to make it all happen. No longer can you place an advert about the property and hope that the business will come knocking.

    You can get more tips for real estate agents Here


    - Posted using BlogPress from my iPad

    Location:Brisbane

    Tips for Commercial Property Management Time Management

    One of the biggest challenges for Commercial Property Managers every day is to get the work done. That is because these property managers are so busy most of the time, and in commercial property management the work is so diverse and challenging.

    So what does a commercial property manager have to do every day? Good question. Here are some big ones.
    1. Checking all rent payments for any discrepancies
    2. Keeping on top of arrears
    3. Leasing vacant premises
    4. Maintaining the properties and keeping them functioning correctly
    5. Reporting to the landlord with any issues of concern
    6. Talking to tenants on a regular basis regards current issues
    7. Keeping in contact with contractors regards current work.

    So just how does a busy property manager keep it all under control? Here is a tip or two to help:

    A: Keep and make your meetings with tenants and landlords in the afternoon
    B: Do all your paperwork and office work in the morning when your mind is fresh
    C: Keep away from distracting unnecessary calls in the morning - they can wait till later in the day
    D: Work to a diary that helps you plan your work the night before
    E: Make notes from all meetings and important conversations

    Commercial property managers are really in charge of their own time. How they use that time will impact their success in the industry. Stress and a short career is the alternative. You can get more tips for property managers here at this website

    - Posted using BlogPress from my iPad

    Location:Brisbane

    Thursday, August 11, 2011

    Commercial Property Managers Handover Process

    When a commercial property manager takes over a property from a building owner or other agent, the handover process is critical to the outcome.

    If the information taken over is not comprehensive and accurate, the future of the management is going to be slow and difficult. The wise man in me says that information provided is likely to be wrong, lacking, or vague. Always check what you are given.

    Experience in investment property and asking the right questions are the keys to a good property management handover process.

    Asking questions about key things such as:
    - current rentals
    - leases
    - tenant mix
    - building maintenance
    - arrears
    - income and expenditure performance
    - building function and daily operation
    - tenant mix

    The list can go on and will vary from property to property and location to location. The best way to handle this handover process is by creating a special Property Management Handover Checklist for each property type in your location. Some of the key points in the list above will be in that list.

    You can get more tips on commercial and retail property management Right here


    - Posted using BlogPress from my iPad

    Location:Brisbane

    Listing Tips for Commercial Property Salespeople

    When you list a commercial property as a real estate agent, do not be too quick to offer a price estimate to the vendors. In this market there are so many variables to check and that can impact the price, and the method of sale.

    Here are a few things to get you thinking:
    - location of comparable properties that can compete
    - zoning changes relative to the property and area
    - transport access
    - services and amenities
    - history of recent sales and prices
    - layout of the property
    - lease tenure and covenants
    - supply and demand for property
    - local business sentiment
    - tenant mix

    So these are just a few but the list will help you understand the big property picture before you set or give a price estimate. When in doubt, choose a method of sale that lets the market set the price.





    - Posted using BlogPress from my iPad

    Location:Brisbane

    Monday, August 8, 2011

    What Makes Cold Calling So Important

    When it comes to real estate it is surprising just how important Cold Calling is to the business generation process. The property market is forever changing and on that basis the buyers, sellers, tenants and landlords are also changing.

    Those people that are not active in the market today are very likely to be active in the market over the next few years. That makes cold call prospecting a critical part of new business generation for real estate agents.

    The best words I have for salespeople in the real estate industry is to make cold calling a significant part of your prospecting process. Yes you do need to practice, but you can get the process under control; it is not hard, just different. Have due regard for legislation that impacts the calling process such as the do not call register, and then start calling. Get more tips on cold calling right here.


    - Posted using BlogPress from my iPad

    Location:Brisbane

    Saturday, August 6, 2011

    Cold Calling Tips for Commercial Real Estate Leasing

    In this property market there are some opportunities still to be had for the local real estate agent. Commercial leasing is far more active than commercial property sales. Some businesses are quite successful and it is those that need help with premises.

    So the best opportunity right now is with leasing commercial premises.

    The rents are attractive to many business people and the incentives are similarly attractive. All the more reason to do a lease deal. Landlords with sitting tenants in their investment properties should protect the tenant mix with attractive lease rents. There are many real estate agents and other landlords out there looking to do a new lease or solve a vacancy issue.

    So if you are a real estate agent, start cold calling businesses in your local area. Here are some tips to the process.

    1. Make about 50 calls per day in about 3 hours
    2. You will get through to about 20 businesses during that time
    3. See what the businesses are doing regards current occupancy and if their lease is coming up for expiry.
    4. Practice your call dialogue so that you have something to tell those that you speak to. Local property trends is a great place to start.
    5. Make the calls at the same time each day to suit your market. If you are calling business leaders it is more likely that you will get to speak to them directly in the afternoon when the pressure of the morning has gone.

    You can get more on cold calling and prospecting right here at Commercial Real Estate Training Online


    - Posted using BlogPress from my iPad

    Location:Brisbane

    Sunday, June 19, 2011

    Commercial Real Estate Salespeople Hate These

    Commercial real estate salespeople really hate these things. If you are runnning a real estate office you need to keep your salespeople on task and track with these issues.

    MP3 File

    Time Management for Real Estate Agents

    Taking the right action each and every day is one of the biggest challenges for real estate agents. This audio program is designed for agents looking to build their listings and territory.

    MP3 File

    Saturday, June 18, 2011

    Commercial Real Estate Amenities and Services

    How to review a commercial property with its amenities and services. This program has been prepared for commercial real estate agents, property managers, and leasing agents.

    MP3 File

    Thursday, June 16, 2011

    Commercial Real Estate Marketing Tools

    In this audio program we talk about the most effective marketing tools you can use in commercial real estate sales and leasing. You can get more detail from our website http://www.commercial-realestate-training.com/

    MP3 File

    Wednesday, June 15, 2011

    Cold Calling Tips and Tools in Real Estate

    The cold calling process is a good way to build your real estate business. The more people you speak to the better your database and listing opportunities. This audio program helps with your calling process and momentum.

    MP3 File

    Cold Call Prospecting Commercial Real Estate

    Cold calling for new listings and business in commercial real estate is an essential skill for the salesperson and real estate team. In only this way will you create real churn and opportunity. This audio program tells you why cold calling just has to be done.

    MP3 File