If you are new to commercial real estate, you might feel a little out of depth.
Here are some easy, largely non-technical things to remember as you make your way about your profession.
First, always be aware of the context in which you are selling property.
In other words, do keep abreast of political and economic developments in the immediate area.
If you can, make time for town meetings and other events so that you can get to know "important" people such as up-and-coming local politicians and major business leaders.
For instance, if you get to know the owner of a company, he or she might decide to approach you first if he or she would like to buy more office space.
If you get on the good side of local politicians, you might be the first to know about upcoming development projects, such as the construction of new schools, or the improvement of certain streets.
You can then plan what listings to go for.
This type of networking is particularly useful if you plan to practice the real estate agent profession in the same area over a period of several years or decades.
Second, remind yourself that buyers of commercial real estate are not just "all business.
" Of course, they do care about "practical" things, like the actual size of the space, and any recent repairs made.
However, prospective buyers also want a working experience that is as pleasant as possible.
If the property is located near good, cheap restaurants, for instance, this can be a selling point, too.
In this way, you can use a lot of the tactics shared by sellers of residential real estate.
Third, do build a team of people who can help you spruce up a property.
Well, actually "network" is probably a better term for this.
You will often need the same type of people over and over again: electricians, cleaners, and designers of advertisements.
Try to form a long-term relationship with such people, so that you might get a better deal later on.
It would be great if they could work with each other: the renovations and advertising have a better chance of producing a cohesive impression on prospective buyers.
Also, you would do well to harness the publicity avenues that are already on hand in your area.
These would be the respected real estate magazines, blogs, etc.
Sure, there is nothing wrong with advertising outside these channels, as well.
However, such sources do have authority, as well as an existing readership.
Do you not want a piece of this, as well? Through your work with these publications, you might also meet some more experienced real estate agents who can give you advice and help you build your stockpile of contacts.
Lastly, you should also make your marketing tactics flexible.
Do not use the same ones for every property.
For instance, the marketing standards for "great" or "elegant" office space will probably be higher than those for, say, a factory.
The former is where you can expect to pull out the stops as far as advertising design is concerned.
Here are some easy, largely non-technical things to remember as you make your way about your profession.
First, always be aware of the context in which you are selling property.
In other words, do keep abreast of political and economic developments in the immediate area.
If you can, make time for town meetings and other events so that you can get to know "important" people such as up-and-coming local politicians and major business leaders.
For instance, if you get to know the owner of a company, he or she might decide to approach you first if he or she would like to buy more office space.
If you get on the good side of local politicians, you might be the first to know about upcoming development projects, such as the construction of new schools, or the improvement of certain streets.
You can then plan what listings to go for.
This type of networking is particularly useful if you plan to practice the real estate agent profession in the same area over a period of several years or decades.
Second, remind yourself that buyers of commercial real estate are not just "all business.
" Of course, they do care about "practical" things, like the actual size of the space, and any recent repairs made.
However, prospective buyers also want a working experience that is as pleasant as possible.
If the property is located near good, cheap restaurants, for instance, this can be a selling point, too.
In this way, you can use a lot of the tactics shared by sellers of residential real estate.
Third, do build a team of people who can help you spruce up a property.
Well, actually "network" is probably a better term for this.
You will often need the same type of people over and over again: electricians, cleaners, and designers of advertisements.
Try to form a long-term relationship with such people, so that you might get a better deal later on.
It would be great if they could work with each other: the renovations and advertising have a better chance of producing a cohesive impression on prospective buyers.
Also, you would do well to harness the publicity avenues that are already on hand in your area.
These would be the respected real estate magazines, blogs, etc.
Sure, there is nothing wrong with advertising outside these channels, as well.
However, such sources do have authority, as well as an existing readership.
Do you not want a piece of this, as well? Through your work with these publications, you might also meet some more experienced real estate agents who can give you advice and help you build your stockpile of contacts.
Lastly, you should also make your marketing tactics flexible.
Do not use the same ones for every property.
For instance, the marketing standards for "great" or "elegant" office space will probably be higher than those for, say, a factory.
The former is where you can expect to pull out the stops as far as advertising design is concerned.