Commercial Real Estate Agents - Negotiation Rules of the Rich and Famous

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					When you work in commercial real estate you will be up against some
proven performers in listing, negotiating, and closing. The industry is
built on a base of business and investment. The landlords, business
owners, tenants, and investors know what they want and will drive a tough
bargain. This then says that the average commercial property agent cannot
be 'average' when it comes to negotiation. They have to hone and develop
their personal negotiation skills and abilities.

To be really good in the industry you should build a level of confidence
from a system of market knowledge and property strategies. You have to
show that you really know what it going on and how to control it. This is
what I would expect from a very good agent:

Excellent market knowledge of local listings, prices, rents, and property
types.
Sound and proven strategies of marketing when it comes to the different
property types and the needs of selling or leasing as the case may be
The ability to negotiate difficult deals with difficult people using
third party evidence of prices and rents to support momentum
Knowledge and accuracy when it comes to documenting every step of the
deal into correct and legal documentation that accurately reflects the
intentions of the parties.
Inspection processes that feature the property in its best aspect when
taking qualified prospects into and around the premises
Negotiation skills for taking the property transaction through to
contract or lease finality for the client
The ability to follow through on all the terms and conditions of the deal
to ensure that all parties are acting towards completing the transaction
as intended.
A database of leads and opportunities that is accurate and up to date so
it can be used on new listings or new opportunities as they arise.

These are all quite specific skills that will help the client get the
best outcome from the property sale or lease in the shortest possible
time. All of these processes can be improved and practiced personally as
a package of services to the clients that we act for.

Central to all of these points is the fact of negotiation. Negotiation
appears in just about everything we do as agents today. The fact is that
the best negotiators complete more listings and convert more deals on a
regular basis. Negotiation skills can be learned and improved through:

Constant daily negotiation practice with other members of your team
Applying market knowledge as third party proof that your case or argument
should be considered
Documenting all discussions and stages of the negotiation so no errors or
omissions occur to threaten the deal.
Understand the real position of the parties and the 'must have'
requirements or outcomes for them.
Understanding the 'best alternative to no agreement' in the case of both
parties, so you know the ultimate downside if they do not agree.

The best property negotiators know the opportunity of the market and can
show the clients how to reach it with minimal discomfort. Develop your
negotiation powers in commercial or retail property through regular
practice and up to date information.

				
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Description: good for real estate forever.