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Michael Costantini 3cre-Commercial Real Estate Broker

Simply explained, a commercial broker is a special type of real estate broker that works especially with selling and listing various types of commercial properties, including industrial properties, businesses, office buildings, and even apartments. If you are going to be involved in commercial investing it is imperative that you find a good commercial broker. A great broker is very important if you want to be able to find some great properties. Having a good working relationship with a commercial broker can give you some access to hot listing that most people will never even see, such as future listings, current listings, and even pocket listings. So, now that you realize how important a commercial broker is, you probably also know that you need to make sure that you pick the right commercial broker for your needs. Picking the right broker can help you succeed in commercial real estate; however, the wrong broker may lead you into a disaster. The following are some great tips that will help you pick out the best commercial broker for your needs. Michael Costantini 3cre is an excellent resource for this.

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Check Their Specialties – When trying to pick out the right commercial broker, you will want to check and see what their specialties are. You will probably want to pick a broker that has specialties in your area of investing. Some brokers specialize in leasing, buildings, land development, and land. Once you find out their specialty you can decide whether they will be a good fit for what you are looking for.

Find Out How Experienced They Are, another thing to keep in mind is the amount of experience that the broker has. You want a broker that has experience in the commercial real estate market and that knows what they are doing. Going with a broker without much experience may not be the best choice. What are Their Transaction Volumes, you may also want to find out a bit of their transaction volumes as well when considering a broker. Find out the volume in the number of sales they make and the number of dollars as well. This will clue you in to whether or not they are really doing a great job at what they do.

Do They Have Any Affiliations or Accreditations? – Also find out whether a broker you are considering has any affiliations or accreditations, such as with the CCIM. This will let you know a bit about their professional life and how reliable they may actually be. Do They Have Connections? often in the field of commercial real estate, having the right connections can be very important. You want to look for a commercial real estate broker that has connections with city planners in the area and that is also connected to the political processes in the area too. Also find out if they have good mortgage broker and banking connections as well, since these will be important to you down the road.

Follow Up is Essential, a good broker should always follow up. They should always return phone calls, and they should also keep the promises that they make too. If the broker is not good at following up, then you should consider someone else. How Do They Communicate? the communication style of the broker is going to be very important as well. Find out how the broker communicates when you are trying to pick a good broker. You need to be able to communicate well with your broker and made sure that you are both on the same page, so communication is going to be very vital.

 

Real Estate

Commercial Property Negotiation – 3 Stages of Rejection in Negotiation

In commercial real estate sales and leasing, the real estate agent negotiates every day with different people and different situations. Your skill in the negotiation process will improve over time, although it can be significantly fast tracked through simple daily practice.Visit property negotiation for more details.

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Most the property negotiations have some degree of challenge such as:

The fees are too high for the property owner
The marketing funds are more than what the client will pay
The type of agency is not what the client wants to accept
The timing of the deal is difficult
The price or rent being offered is unacceptable
The parties to the deal just don’t get on
The key elements of the property do not fully satisfy the parties
Given that every deal is going to have some hurdle to negotiate through, the best real estate salespeople become the excellent negotiators. You can do that as well.

In most property situations, the parties to the transaction want to have some simple benefit or win in the process. It is up to the salesperson to reach that point. Every negotiation starts somewhere and it is up to you to start it.

The three stages of negotiation are typically as follows:

The parties will tell you that they are interested in the property but something is wrong and is holding them back
A series of problems will be tabled by the negotiating parties
The parties will tell you what solutions they see as acceptable
In most property negotiations, the parties will move through these three stages; that process is really what you want and you will require in achieving an outcome. When they give you some solutions that they will be happy with you have something to work on.

The best property negotiators will move the parties from item 1, to item 3. The way to make them work through the stages, is to ask directed questions surrounding their ideas and feedback. Here are some examples of open questions you can use in the property negotiation processes:

Tell me, what are the fees that you see appropriate for taking the property to market?
Mr. Brown, what are the hurdles that you see given your individual property circumstances at this time?
Mr. Brown, if the price was not a hurdle for you now, how would you proceed with the contract process today?
Tell me, what are the elements of the property that you really should have and that work for you?
What adjustment can we create in the offer which will improve or remove these challenges for you?
There are many variations to the negotiating and questioning process. Importantly, the three stages above should be respected and moved through to get momentum and focus on a positive negotiation outcome.