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Update from ULI: 4 emerging trends to watch in 2019

By Erik Dolan-Del Vecchio on Feb 21, 2019

ET19Cover-1-1One word describes the state of today’s commercial real estate industry better than any other — change.

That’s the underlying message of the Urban Land Institute’s latest Emerging Trends in Real Estate report. A joint project of ULI and PwC, the report considers the feedback of more than 750 real estate professionals and offers a high-level overview of the most important trends shaping the industry.

Tenant demands are shifting, the economic outlook is uncertain, and technology is impacting everything from industrial logistics to end user experiences. At the same time, demographics are evolving to move the emphasis from downtown markets towards 18-hour cities and amenities are defining the new generation of commercial space.

From locating stability in transformational markets to understanding the role of technology, here are four of the most significant takeaways from the ULI report.

Topics: Industry News
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8 tips for commercial real estate brokers to tap the power of social media for business marketing

By Cary Brazeman on Feb 19, 2019

Social-Media-Marketing-for-Commercial-Real-Estate-Agent-Operations-AdobeStock_122318125If PR is a prime strategy to raise your profile in the market — think speaking engagements, community relations and attention from third-party media — social media can be a powerful complement to build relationships and enable others to spread the word on your behalf.

Social media is “shared” media. You and everyone else participating jointly share the platform. The downside is negative feedback exposed widely, which can set back your marketing efforts. The upside is the opposite: a multiplier effect for positive interaction, with the information and conversations shared with many more people than through one-off interaction.

The big question to ask first is whether this tactic suits you. Most brokers are sociable, to be sure. But for some people being social on demand is a stretch. Likewise, receiving negative feedback from total strangers isn’t fun, and that can happen on social media. If that makes you uncomfortable, social media marketing may not be a good fit.

All that said, if you’re prepared for the interaction and accept the risk, here are 8 tips to make the most of social media.

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7 CRE broker quotes to live by

By The Apto Team on Feb 14, 2019

building-skyline-sunset-660981-editedThe time for New Year’s resolutions is behind us, but as the year ramps up in earnest, maybe you could still use a little inspiration or wisdom from brokers who’ve been there.

Here are a few of our favorite quotes from commercial real estate brokers we’ve talked to over the years. From tips for brokers still breaking into the business to perspectives on technology and secrets to success, we hope you find something valuable to take away.

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3 things your business needs that Excel can never give you

By Erik Dolan-Del Vecchio on Feb 12, 2019

There’s no denying Microsoft Excel revolutionized the way businesses approach data.

Originally launched in 1985, Excel's strong graphics and fast processing speeds helped it beat out Lotus 1-2-3 to become the dominant spreadsheet software by the mid-1990s. For the next decade it helped businesses around the world analyze and present their data more effectively than ever before.

geolocation-mapsBut times have changed.

Given the options available today, Excel simply isn’t the best tool for commercial real estate professionals who need a platform to analyze data, prospect, and help them close deals. Modern customer relationship management (CRM) software, especially those focused specifically on CRE, create new possibilities and give brokers new ways to act on their data.

If you’re thinking about investing in new technology, now is the time. And if you’re still using an outdated spreadsheet, while shortcuts and tricks can help, ultimately you risk falling behind.

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3 strategies to build influence and become a market leader

By Erik Dolan-Del Vecchio on Feb 5, 2019

black-and-white-city-man-people-1It’s no secret market leaders consistently attract bigger and better deals than their lesser known competitors.

Everybody wants to work with an expert, and unsurprisingly, becoming your market’s go-to expert is easier said than done. But that doesn’t mean you shouldn't try; on the contrary, working towards that type of influence and recognition is one of strongest ways to advance your career.

So whether you’re a junior broker just starting to build a name for yourself or an industry veteran with years of experience, there’s always room to boost your presence and grow your market influence. From building your personal brand to finding creative ways to bring people together, follow these steps to build influence and win more deals.

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3 approaches to prospecting that go beyond cold calling

By Erik Dolan-Del Vecchio on Jan 31, 2019

 

mark-adriane-540728-unsplash-1When you think about prospecting, is cold calling the first thing that comes to mind?

It is for many brokers, and it’s easy to see why — if you want to find new prospects, you first need to call them, right?

It’s hard to argue with that, and while cold calling does play a role in every prospecting strategy, it shouldn't be your entire strategy. Instead, the best prospecting strategies are rethinking the use of cold calling, transforming it from an end in itself to just one part of a larger approach to securing new business.

From building your market presence to using technology to segment and systematize your efforts, use these three prospecting strategies to move beyond cold calling and make more meaningful relationships in your market.

Topics: Efficiency
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How to do performance reviews for junior brokers

By Erik Dolan-Del Vecchio on Jan 29, 2019

brokers-suits-coffee-320x240Performance reviews can be stressful.

Whether you’re a junior broker or an industry veteran, few people enjoy having their professional accomplishments put under the spotlight. And believe it or not, most managers dread the annual performance reviews just as much as employees.

But it doesn't have to be that way.

When done correctly, performance reviews are one of the best ways to coach brokers and bring teams together. But that only happens when managers embrace performance reviews as an opportunity to push the entire team forward.

So from laying the groundwork for successful reviews to rethinking the process as a two-way avenue of communication, here’s how managers can use performance reviews to strengthen teams and help brokers succeed.

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7 sales conferences where brokers can build their skills in 2019

By Kim Howard on Jan 24, 2019

sales-conferences-networking-320x213Commercial real estate brokers may wear many hats when working a deal, but at the end of the day, you’re a salesperson. Whether you’re pursuing new business and pitching your services to a prospective client or telling a building's story and presenting to an interested buyer, brokers are always selling.

Because of that, commercial real estate brokerage typically attracts outgoing people who have some natural sales ability. Competition can be fierce, and you can’t rely on charisma alone to close deals (though it doesn’t hurt!). There are many way you can hone those sales skills to stand out from the crowd, and one of the best ways is to attend sales conferences and learn from top sales leaders across various verticals. You’ll get out of the brokerage bubble and come away with tips that can be applied to brokerage and your prospecting process.

We’ve compiled a list of top sales conferences brokers should check out for 2019.

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8 PR tips and tricks for commercial real estate power brokers…or aspiring power brokers

By Cary Brazeman on Jan 22, 2019

man-coffee-cup-pen-large-320x213PR, short for public relations, is a prime strategy to raise your profile in the market and create goodwill that can be leveraged to support your commercial real estate business marketing.

PR is a great complement to Apto’s CRE Digital Marketing Checklist, which includes useful tips on website marketing, content marketing, social media and online advertising.

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This pipeline report template will help you stay on top of your business and cash flow all year

By Elizabeth Knight on Jan 17, 2019

visibilityDid you meet your income goals for 2019?

Commercial real estate brokerage is an inherently risky industry, and it can be difficult to get transparency into your business when you're working through complex deals that can take years to close. Sometimes it probably seems like deals can fall through at the drop of a hat.

It might seem difficult to predict when a deal will come through, but the truth is that you can and should track your pipeline. It is possible to better manage the risk involved and get some level of visibility into your cash flow. After all, if you ran a retail store or restaurant franchise and didn’t have any reporting on the business, how long do you think you'd last?

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