To prospect efficiently, keep your ears open

Successful commercial real estate brokers are always looking for fresh ways to generate new prospects. One of their most effective tools is something you have and use every day but don’t often think aboutyour ears.

By really listening to what’s going on with your clientele and market, you can uniquely position yourself to not only do well by your existing client base but also build your reputation as an authority in CRE, becoming their go-to broker for referrals as well.

Topics: Best Practices

What Steph Curry and Nike can teach brokers about due diligence

If you’ve gotten to the proposal stage with a new prospect, you’re probably a bit exhausted. You’ve prospected like a crazy person, you’ve nurtured the relationship, you’ve met and determined the prospective client’s needs.

Now comes the proposal, and a ton of due diligence. No matter how much of a slam dunk you think the deal is, it’s not the time to let your guard down. In fact, you need to up your game. You never know what detail will lose you the respect of your prospectand with it, the deal.

Since it’s NBA playoff time, let's see what one of Nike's biggest missteps in recent memory can teach us about paying attention to details.

Topics: Best Practices

3 reasons you absolutely need a CRE mentor

No matter how good you are at your job, no matter how much time you invest in working a deal or studying a market, there is always room for improvement. It’s true whether you close $1.2 million worth of transactions a year or $120 million. No matter how knowledgeable you think you are, there is always going to be someone better than you. Commercial real estate, in particular, thrives off competition.

But not all other brokers need to be competition. In fact, they can help you.

Topics: Best Practices

What, your pool doesn’t have underwater speakers? Trends in multifamily

The multifamily sector in the U.S. saw record-setting performance in 2015, with nearly $139 billion in capital generated for residential properties. International investment is also on the rise, and urban centers continue to see rent growth and development activity.

Let’s take a look at two specific trends in multifamily that bear watching.

Topics: Industry News

The best sources for CRE news, insights and trends

We live in the information age, but there can be such a thing as too much information.

Information overload can actually hamper your knowledge and the growth of your brokerage by bombarding you with too many irrelevant facts that you can’t put to efficient use. It can be hard to find the signal in the noise.

Still, brokers need relevant and timely information to stay on the cutting edge of commercial real estate. That’s why we’ve outlined a few trusted sources of insights, trends and market data, regardless of your market or specialty.

Topics: Industry News

How to use public information to identify companies in growth mode

Seasoned commercial real estate brokers know that expansion is the name of the game. If you can build a loyal clientele by going above and beyond on a key deal or two, you can give your business a major boost as those clients look to expand.

This strategy can extend to various types of clients, whether it’s the donut chain spreading across the Sunbelt, the online retailer gobbling up warehouse facilities in the desert or the software company expanding out of Silicon Valley and into secondary tech markets like Portland, Ore.

Sometimes the prize of future deals happens serendipitously, but there are also ways to seek out these clients and opportunities. Here are two proven ways to find and use public information to your advantage.

Topics: Efficiency

Get inspired by 5 of our favorite TED Talks for CRE brokers

Tired, burned out, or otherwise worn down by the daily grind? Been there.

In the struggle to find new clients, tour properties, toil over paperwork and close the &%$(@* deal, it’s sometimes easy to forget what you drew you to the business in the first place.

Take a quick break with one (or five) of these TED talks. They’re all at least tangentially related to commercial real estate, and they can help you step back and gain a fresh perspective on the communities and professional environment you’re part of.

Topics: Industry News Interviews Disruption

The single most important question to ask your CRE clients (and a template to make it happen)

Communication is the cornerstone of any good relationship. This holds true with your clients as well, and building relationships is what commercial real estate brokers do best.

But communication doesn’t mean just talking; it means listening, too. And not just listening to your clients’ needs but also their feedbackand at times, criticism.

Topics: Best Practices

3 tips to get the most out of large CRE conferences

Many of the industry’s premier commercial real estate conferences are not cheap. Whether you’re footing the bill or your company is sponsoring your attendance, the pricetag of these not-so-little get-togethers should motivate you to get the most out of them.

Don’t misuse the time and energy you spend away from your business. Instead, follow these tips to get the most from these opportunities.

Topics: Industry News Best Practices

6 Google Chrome extensions for time-strapped CRE brokers

First things first: If you’re using Internet Explorer, you’re way behind. It’s a terribly slow browser that won’t be around for much longer.

Chrome is the industry standard, and if you don’t already have it on your computer, it only takes a few seconds to download.

Topics: CRE Tech Efficiency

How commercial real estate brokers can understand different types of clients [infographic]

When dealing in commercial real estate, there are many kinds of clients that brokers will work withand they each have their own special requirements and motivations. Regardless of your specialty, it’s important to understand the players involved: their decision-making process, motivations and priorities.

Topics: Best Practices

Big fish, small pond: 4 reasons to consider secondary and tertiary commercial real estate markets

Every commercial real estate broker would love to sell a retail space in Times Square or a luxury residential tower in Downtown Los Angeles, but good luck being one of the very select few who ever get to work these famously saturated markets.

While there are plenty of successful brokers who have a full pipeline of deals in some of the nation’s largest urban cores, don’t discount the bounty of prospects and properties that exist in the nation’s secondary (e.g., Austin, Portland) and tertiary (e.g., L.A.’s High Desert region, Grand Forks, ND) markets.

Topics: Efficiency

ICYMI: New (free) ebook on CRM for commercial real estate

We’re excited to announce and share our latest ebook, A Practical Guide to CRM for Commercial Real Estate.

Obviously we’re a bit biased, but we really tried to provide some concrete, objective guidance on how to navigate the the CRE tech world. Whether you’re still learning about CRM, evaluating your options, or in the process of purchasing, we hope this guide provides some useful information.

Topics: Company Updates CRE Tech Efficiency