Thursday, 12 December 2013

Tips that will make you a better Real Estate Brokers

As a commercial real estate agent we have to know current real estate market listings and all the properties therein to a high level. It sounds reasonable but it is worth looking at a bit more because not many people do it well. This is the difference between the great commissions and the average commissions; the difference between the average listings and the great listings. First be sure what types of properties you are specialized in. In this industry peoples will focus only one or two types of properties. That allows them to research all the market trends and keep on top of things like: 

•    Rent levels, Rent types, Lease types.
•    Vacancy levels, Building costs, Current listings on the market.
•    Prices achieved, Methods of sale or lease.

This listing can be big, but we have given you the major issues for the moment and to discuss the point. This above information is detailed and critical each time you talk to the owner of a property who wants you to sell, lease, or manage that property. To be the best real estate agent in your area you have to provide the best service and best property solution or else ordinary agents will not grow up in this market. There are a lot of ordinary real estate agents or brokers out there. Make a clear decision now to be the best and your success will follow.

So you could say that you already know these things above, and hence you are the best! Let me ask you 10 questions to test your real estate knowledge. 

# What is the current rent at the moment in your area and what have been the trends over the last 2 years for that type of property?
# What have incentives done in the latest lease deals and what is the best incentive for the landowner to use to attract a renter today (and give me a reason why)?
# If you were to do a lease today of a premises in a prime location and with a great tenant, what lease alternatives would you discuss with the landlord and why?
# How could the lease that you do today for the property bring better investment performance for the landholder over the next few years, and why?
# What properties of direct comparison in the area remain on the market for sale and to which this property will compete?
# What is the target market for this property and why?
# How would you best market the property to tap into the right target market?
# What makes your proposal to the client more significant and better than the other agents in the area?
# Who are the best developers of property in the area and are there any projects on the drawing board that will compete with you in this new listing?
# What is the current time on market of properties of this type and how has that changed over the last 12 months?

If you were selling or leasing my property today, I would expect you as a real estate agent or broker in the area to have these answers for me and I want you to give me the reason to use your services and convince me that you are the best. Think about those 10 points and start to build your career. The greater value you are to the people in the property market means you get more listings. Simple earning equation isn't it.


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