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

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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

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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

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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

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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

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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.

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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.

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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

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