Commercial Real Estate Agents – How to Focus Your New Listing Proposal and Services – Rent a Room, Property for Buy, Sale, Invest

There are significant differences between the types of clients in commercial real estate. This then says that your proposal should also be individual and unique to satisfy the client and their needs.

Proposals to government clients are far more formal and intense. Many times we hear the government client suggest that price is not the main criteria in the ultimate decision. Regardless of what they say, this is hardly ever the case and it is the price that generates the shortlist of final contenders to market the property.

After the price has created the short list, it then comes down to the elements of strategy and target market that the various agencies tap into as relative to selling the property. This is where your intelligence and understanding of the local property market as a real estate agent is critical.

Corporate clients and government clients will sometimes issue a brief requiring the proposal to satisfy the provided outline by a required time. When these guidelines have been issued, it is essential that your proposal adopts the necessary format given. Many corporate clients and government clients will discount the proposal if it does not fit their layout requirements.

Expect competitive proposals from other real estate agencies to be just that. Discounts can sometimes be given to improve your competitiveness and edge against the other agencies. This is usually done in one of the following categories:

Higher price estimates
Discounted marketing costs
Discounted commissions
Incentives for higher prices that may be achieved
The agent paid advertising complimenting the client paid advertising
It is debatable whether this discount process should even occur. It doesn’t normally produce the quality business that you as the real estate agent desire. This then limits your action and your focus.

Perhaps discounts make the client happy, but at the end of the day genuine client happiness is generated by a property that is sold effectively at a good price and in a timely way. Discounts do not normally achieve this.

The best real estate agencies do not discount their services. They understand that a quality service to sell or lease the property demands a quality client who makes decisions based on strategy and not discounting.

The format of your proposal should feature property detail and overview at the front, provide clear recommendations in the middle, and then close on the fees and costs. Always ask for and chase exclusive agency appointments. Conjunction and open agency appointments are a last resort and only if you really want the property on your books. A controlled exclusive listing is better for the client and the property.

One last comment. Generic information regards your real estate office and staffing strategy should only be at the rear of the document and in a restrictive way. It is of little interest to the client.

John Highman is an expert coach in investment real estate, property performance, and tenant mix analysis for Real Estate Agents and Brokers. Learn about real performance opportunities here at http://www.commercial-realestate-training.com/sign-up-here.html

John helps brokers, and real estate agents improve their listing opportunities and commission targets. He has personally specialised in major commercial, industrial, and retail property for over 30 years and knows what works and what doesn’t. Get John Highman’s free tips and tools in commercial, industrial, and retail property at http://www.commercial-realestate-training.com

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Commercial Real Estate Agents – How to Prepare a Property for Sale at the Best Price – Rent a Room, Property for Buy, Sale, Invest

A commercial property should be thoroughly explored and understood when it comes to packaging the property for sale as an investment. You as the real estate agent in marketing the property have to get all the right information into the promotional package.

An investment property is made up of a number of key elements around which you can build the main promotional package. The key elements are:

The rent or cash flow
The tenant profile
The improvements in the property
The local area and growth or change coming from it
Supply and demand for property and rentable space in the area
Buyers want to know all the facts when it comes to considering the purchase. Importantly you have to give the right facts and tell the story to the market. That is where you prepare an information memorandum for the property and make it available to qualified prospects in the promotion of the property.

Here is a checklist to help you in the process of packaging the property for promotion. Your information memorandum will be built around this material.

A tenancy schedule for the property is needed. The tenancy schedule must be accurate in every detail. That means it must be checked against the leases in the property. That means you have to read and interpret the leases yourself. This task is not something that can be passed over lightly or given to someone else.
A summary of income and expenditure for the property will be needed. That is both historically over the last 12 months and also the current income and expenditure budget. Property buyers want to know what the property has done financially and what it is doing now in cash flow. This figure must have relativity to the tenancy schedule above.
Any vacancies should be identified so the buyers can see the extra rent that can be gained from the promotion and renting of that vacancy.
A list of current building outgoings should be provided so that the buyer can see how they impact the expenditure detail provided earlier.
A summary of the improvements in the property together with photographs, plans and drawings of the site. Importantly this detail must be accurate in every respect.
Details of the demographics of the local area will help the buyer understand the location. Give due regard to access from highways, transport, labour supply, and other businesses.
These simple points can contain significant detail. Importantly you should check all information before it is used in the property promotion. Accuracy is critical today as legal claims and damages can and usually do result.

John Highman is an expert real estate speaker and coach that helps Real Estate Agents globally to improve their property business, market share, listings, and commissions. John is a successful real estate agent himself and has been so for over 30+ years.

Do you want to improve your real estate business? You can learn how others have done that right here http://www.commercial-realestate-training.com

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