Commercial Real Estate Training Tips

Why you should NOT represent a seller on an open listing

 

In an open listing, I would not agree to represent the seller. If you have good service and marketing, and the seller really wants to sell the property, the best thing the seller can do is to exclusively list the property with you so that you can take it to the market. Are you really representing the seller's best interest by taking it to one, or two buyers? No. Represent sellers with exclusive listings. Learn more about obtaining exclusive listings HERE
 

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This is how you should handle a property that needs a lot of work

 

Every property is sellable, there's not a bad property, there's a bad seller or broker that's not doing it right. If you're representing a seller on a property that needs a lot of work, go ahead and get good prices on anything that needs to be done, and consider those costs when pricing the property with the seller. When presenting the property to a buyer, help them to understand that it was priced knowing that work was going to be needed, and let them know that you have acquired the prices to have it done. For more, license the video "Creative Solutions to Closing More Sales" HERE.


 

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How to get an exclusive listing without doing all of the analysis work in advance

 

Often times when talking to potential sellers about selling their property, the seller will look for a lot of analysis about the proper pricing of their property. Include in your listing agreement a paragraph that says: "The broker and seller will agree upon a list price within seven days, if a list price is not agreed to, either party may cancel the agreement." This will allow you the proper amount of time to research the proper pricing for the property. 

 

 

 

 

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Why Top Producing Agents Specialize

Top producing commercial real estate agents focus on one service or sector for many reasons. Specializing increases efficiency when building your business. Your database, contacts and knowledge will grow uniformly. The chances that a call will turn into business is much greater when prospects see you focus in their area of interest, and they will be more likely to do business with you in the future. If your bio, assignments and business generation activities all correlate, your closing ratios will improve. Perfect time management, build confidence, and grow your reputation. Watch Sr. Instructor and veteran broker, Michael Bull, CCIM explain in this "Top Ten Success Strategies" video. 

 

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How to get a purchaser or tenant to pay your fee

 

A purchaser or tenant is interested in seeing the best deal in the market. Imagine a client is presented four deals, do they want to lose out on the best deal because they'll have to pay a pro-fee? I don't think so. When presenting a property like that, you'll want to tell that tenant or buyer to underwrite the deal with your reasonable fee included. If it's a great deal they will want to buy it.  
 

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