It really does not matter how successful you have been this year in commercial real estate sales and leasing. You still need listings for the future and prospecting is part of that process.

Many agents or salespeople tend to neglect the prospecting process when they get busy. This is counterproductive and frustrates the pipeline of opportunity for your business. In most real estate markets, there is a time lag of about 90 days between prospecting and lifting your conversions to listings. This says that the prospecting of today will turn into opportunity in about three or four months.

Prospecting is therefore one of the most important things you do each and every day. It needs to feature in your diary as a priority one activity. Prospecting will give you a number of outcomes such as the following:

1. It will get your face and identity into the local business community so that you can be the agent of choice to help them when sales or leasing issues arise. Commercial real estate is built around networking and contacts. Your database is critical to your future sales opportunity and listing conversions.
2. The people that you talk to in most cases will not need property assistance today, however they will be needing something in the future. You will need of constant contact process to build the right connections with these people. It pays to talk to them every 90 days as part of an ongoing networking and prospecting process. Remarkably you find that many salespeople fail in this regard. This becomes a significant source of opportunity if you build the correct personal system of contact.
3. Many properties are sold off market. When you know enough people and keep a register of contact in your database, it is easy for you to introduce new and fresh properties directly to the right people at the right time. You can achieve a sale even before the property is advertised and other agents hear of it.
4. Use the signboards placed on properties by competing agents as reasons to talk to the neighbouring properties. This has proven to be a serious source of opportunity. Most neighbouring properties prefer to choose an agent in competition, and the catalyst of the sale next door tends to motivate the neighbours to sale.
5. Most of the business owners in the local area know more about the street they are located in than you do. On that basis you can tap into the observations and knowledge that they have of the local area. Asking questions will open the doors to important information that could be a sale or lease opportunity.

If you really want a good future in the property business, do not waste time on any working day. Start prospecting and make it a passionate part of your business process.

If you want some more tips and ideas to help your commercial real estate agency and convert more opportunity into listings and commissions, you can get a free ebook of tips and tools at http://www.commercial-realestate-training.com

John Highman is an experienced Commercial Real Estate Agent, International Speaker, and Sales Coach.

Most commercial properties today will sell, even though the rate of enquiry is less in frequency from each property marketing campaign. It all comes down to the dedication of the agent to find the right buyers and tap into the right target market.

When sellers come to an agent and want to list and sell or rent their property, the choices they have may be the same as always such as the method of sale, marketing choices, time of promotion, and local area marketing, but the effort of the agent today has to be more focused within the listing period.

That being said, open listings with a number of agents are less effective today. Most open listings will stay on the market much longer. That is because:

· Open listings do not market the property intensely

· Enquiry is not driven by one skilful agent

· Agents spend most of their time working on the exclusive listings that they have on their books

· The seller really does not have any control on what is being said and done in promoting their open listed property

· Open listings are a ‘hope and wait’ process with little momentum from any agent. Any sale or lease is a product of luck.

· The marketing of open listings is really just a random process with little thought being applied to the target audience

It is easy to show a seller why an open listing is a waste of time. Some agents will not take open listings in this market because they know that the seller is not serious and cannot be committed to the marketing and inspection process. Negotiations on open listed properties are slower and harder to complete; the vendor of the property looks at the agent as an adversary in the sale process and generally makes the negotiation more difficult.

The 3 tips that should be taken into and used in every commercial property promotion today are:

1. Vendor paid marketing is essential. This will tell you if the vendor is serious in selling their property. As to just how much money should be committed to the sale campaign really depends on the target market, but 1% of the sale price is a good starting point for vendor paid marketing funds.
2. Exclusive property listing with one agency is critical to create the focus on property promotion, inspections, and negotiation. That agent can really drive the enquiry and the communications back to the client. Good communications will always help the negotiation when the time comes.
3. The size and quality of the database that the agent has will have real impact on the property promotion. As part of that, the agent must know how to drill down on the database and extract the right people to promote the property to. Not enough agents today really use the database concept correctly or completely. In many cases the database is so out of date that it could even frustrate the sale process. That being said, a good database that is up to date and accurate will help the sale process greatly.

You can fast track any property promotion with these 3 basic things in place. Ultimately the client just wants to sell the property; the right agent will know how to do that in any market and at any time.

If you want some more tips and ideas to help your commercial real estate agency and convert more opportunity into listings and commissions, you can get a free ebook of tips and tools at http://www.commercial-realestate-training.com

John Highman is an experienced Commercial Real Estate Agent, International Speaker, and Sales Coach.

Article Source: http://EzineArticles.com/6883796

When you work in the commercial real estate industry, you will come across the need to connect with and optimize your regular customer contacts. The most important level of contact will always be the one on one meeting. Nothing will replace the high value of personal contact; however social media now helps us to do more.

Most of us have been using a database of one type or another over the last few years with great success. The depth and quality of your database will always help you build your business; in today’s tougher property market, this is highly relative and if anything should be increased as part of your business building process. So now let’s go back to Social Media and what you can do.

A few things have changed over recent time. Today we have the impact of social media within the commercial real estate industry. So the question is just how do you use it to grow your market share?

The best way to look at this media type is that of a personal contact tool. It is convenient and can be professionally used with ease and regularity; it helps you create your community.

It is quite likely that social media in real terms never really produces a sale, lease, or a listing for you, although it will allow top of mind recognition with your customers. You need clients and customers to make this networking process work.

The real point here is that you should use the internet media in ways in which you feel comfortable. There are alternatives to use. So what is seen to be acceptable from your client base and industry perspective?

Most clients don’t like to be hit with irrelevant ongoing contact from irritating salespeople. It is however important that they get to know you and understand how to contact you at the right time. Social media fulfills this target easily.

The alternatives you have available include the following:

• LinkedIn (high value)
• Twitter
• Websites (high value)
• Facebook
• Blogs (high value)
• Database (high value)
• Article Marketing (high value)
• Newsletters
• Emails (high value)

The best way to look at social media is on the basis that it is a contact tool to be used professionally and with relevant information.

In this property market, all commercial real estate professionals should be using some of the above tools with regularity and consistency. This does however add a new dimension to the time management problem that every real estate agent has. Every salesperson struggles with the necessary things to be done each day. That being said, the easiest way to approach social media is to select two or three of the above items and focus on them each day without fail. The ones that you can’t get to each day can be left for regular posting and activity once a week. On that basis you can achieve social media momentum in your commercial real estate networking.

If you want some more tips and ideas to help your commercial real estate agency and convert more opportunity into listings and commissions, you can get a free ebook of tips and tools at http://www.commercial-realestate-training.com

John Highman is an experienced Commercial Real Estate Agent, International Speaker, and Sales Coach.

Article Source: http://EzineArticles.com/?expert=Adam_Jamez

If dreams of building your own dream home fill your thoughts, then you have probably also thought about where to possibly build this dream home. There are some factors to consider when thinking about how to choose a location for building a home. Ultimately, the final decision will come down to a buyer’s personal wants or needs for a piece of property.

Lot or Land

One of the biggest decisions when choosing a location to build on is whether you want to buy a lot or whether you need a large piece of land. A lot is usually a smaller piece of land that is large enough to build one house on with space for a yard in the front and back of the house. On the other hand, buying land often means the purchaser is buying several acres to many acres. If you want to build you home away from other homes in solitude, you will probably have to buy a large piece of land to keep others from building directly beside your home. If you are not interested in mowing a lot of grass, then you need to consider purchasing a small lot.

Subdivision or No Subdivision

Another factor to consider when looking for a location for building a home is whether you want to build in a subdivision or not. Some subdivisions contain houses that look a lot alike, so if you are going to build a unique home, this may not be the best option for you. Subdivisions also usually have restrictions, so homebuilders will have to check into this before deciding to buy. Some typical restrictions are that a newly built house must contain so many heated square feet or the garage cannot face the front of the house. If you aren’t willing to adhere to the restrictions, consider locating your home outside of a subdivision.

Homebuilders with Children

Homebuilders who have children must also think about school districts. Even neighboring school districts can be vastly different from each other. So, parents who have school-age children will have to research school divisions carefully to decide which one is right for them. This can narrow down a homebuilder’s search for the perfect building location as the homebuilder will have to limit his search to a particular school’s district.

Research the Area

A final tip for choosing a location for building a home is to carefully research the areas you are considering. Ride through the neighborhood at different times of the day and at night to get a feel for the area. Look around to watch for things that could affect the value of a newly built home. Certain areas will maintain their values better than others.

Peter Wendt is a writer and researcher specializing in Austin custom home builders. For readers who are interested in learning more about this subject, Peter recommends they check out Dearth Design.

A joint venture/co-ownership/equity sharing partnership is ideal for individuals who don’t feel knowledgeable or who lack expertise in the field of real estate. Partnering allows us to pool our expertise and knowledge with individual investors utilizing the synergy of the team.

Co-ownership enables you to leverage our expertise and experience to move you forward in with your real estate investing. Why wait until you feel confident enough and knowledgeable enough to purchase your next investment property?

You’ll lose valuable time in the market place where your investment could have been earning a monthly income/positive cash flow and other time-equity appreciation.

Your role is to provide the down payment and closing costs for the property… We take care of the rest.

• The equity appreciation is split after the initial investment is paid back to you
• All profits and costs are split as per the agreement
• You are on title to the property
• Joint Venture Partner agreement secures our interests

The Process

Preparing for the Joint Venture

Initial Contact

• Complete questionnaire
• Present investor package – evaluate client needs
• Expression of interest or intent signed by investor
• Explain Joint Venture Agreement/Co-Ownership (including legal)
• Customize JV agreement or USA (Unanimous Shareholders Agreement)
• Provide investor financial information to specified mortgage broker
• Filter property, due diligence, systems and techniques
• Introduce investor to particular investment and explain ROI
• Agree upon investment term
• Sign Joint Venture Agreement or Unanimous Shareholders Agreement
• Add properties to the agreement
• Select final properties and estimate renovations
• Verbal agreement to proceed with purchase is agreed between parties
• Write offer on property
• Negotiate terms of offer through realtor
• Vendor accepts offer
• Mortgage financing applied for during condition removal period
• Professional services inspect and appraise the property
• Property management company brought onboard
• Organize property insurance
• Accounting mechanism implemented for JVA or newly formed corporation
• Set up bank accounts for JVA or corporation
• Possession of property
• Complete renovations to appropriate standards for quality tenant base and resale at term end
• Property management firm completes tenant search and screening process
• Tenant moves into quality home
• Mortgage payments begin and equity continues to rise
• Send pictures and property pro-forma to JV partner
• Monthly or quarterly expense sent to JV partner if requested
• Annual or semi-annual investment status report sent out
• Accountant prepares annual statement for JV or corporation for both parties

Optional Extras

• Refinance during term and process to reinvest is enacted
• Additional properties purchased

Term End

• Sale of properties
• Initial investment provided back to investor
• All proceeds split and sent out
• Joint venture or corporation dissolved

You Provide

Down payment, closing costs and mortgage qualification.

In a JV Partnership, the only upfront costs are the down payment and minor closing costs. All the work is done for you by your JV partner-the real estate specialists and their team. Each month we are reimbursed a maximum of 20% of the cash flow for management fees. No additional payment is taken until the property is sold, increases in value and a profit is made.

Randy Bett is an Author, Investment Realtor and a Professional Real Estate Investor (along with his Wife and Family) with a Passion for Showing and Teaching Others How to Get Involved in the Real Estate Investing. He has a Special FREE Offer for Newbie and Veteran Investors Alike- 57 Real Estate Investing Video Tips, including What Your Financial Planner is Not Telling You about Investing in Real Estate, Why Most Real Estate Investors Fail, and When to Invest in Real Estate and The Strategies to Use, among many others. Go to our main site.

Debbie Harr is an accomplished and award-winning Ohio Realtor®. She is a recipient of Ohio Association of Realtor President Award and Board of Realtor $25 Million Dollar Award. She has been named top percentage earner among all agents in the Columbus MLS area for actual homes sold. She is the Manager of http://www.homesthatclick.com. Homes that Click Realtor’soffer discounted and flexible fees for full brokerage service and marketing for sellers and buyers. Recognized by Business First as one of the Top 25 Residential Real Estate companies in Central Ohio for more than 6 years for actual homes sold, they are a top performer among more than 400 brokerages.

Article Source: http://EzineArticles.com/6667879

Buying a house is one of the most important decisions any adult can make in his life, regardless of his status. The process can take place not just once but several times in a person’s lifetime the reason why it is always best to follow the right steps.

There are basically two options when purchasing a home. You can either do it on your own or you can hire a real estate agent to assist you. But whatever route you wish to take, there’s a vital aspect that you should never ignore and this concerns checking the physical condition of the property you’re targeting to buy.

A home inspection should be one of the processes you need to request once you have decided on the residential property you’re going to buy. But don’t make the mistake of letting just about anybody to do this and without you in attendance when the inspection takes place. Many homeowners have had regrets about not meeting the home inspector, not being there during the inspection and just receiving the report by mail. The worse they experienced was discovering defects in the house that were not reported to them by the inspector.

Do understand that you’re paying a professional home inspector to do his job on the house that will soon become your residence. As such, you have every right to be there during the inspection as well as ask questions and get first hand information on the state of the house. You should definitely question if the person you’ve hired will not allow you to be present when he checks the physical condition of the property.

The first thing you need to make sure then is to get referrals for a reliable and professional home inspector. Ask from a friend, relative or colleague who has recently used the services of this person. Apart from that, though, you need to do a short interview as well to get to know the inspector better and his previous experience. Go ahead and ask for some references who you can call and check regarding this professional’s work attitude and performance.

An inspector who has done valuable service in his years of work experience should not hesitate to provide you with his references and should be open enough about what he does. In fact, he should be able to give you tips on how to check for problems in your home as you eventually live in it.

Now as to which parts of the house the inspection should cover, qualified home inspectors normally check the wall outlets, the electrical and plumbing systems as well as the heating and air conditioning units. Any part of these systems that are not functioning should be reported to the prospective buyers.

If a real estate agent is assisting you in the home buying process, the agent should be responsible for ensuring your attendance at the inspection or meeting the inspector at the end of his inspection to be able to review his findings. Being your representative, the agent should do his job of helping you gather thorough information about the house you’re going to buy and that includes obtaining a complete home inspection report.

For information on finding real estate, visit RealEstateBriefings.com, the blog that provides the latest and greatest on Real Estate.

Designing a strong real estate spreadsheet requires some forethought about the uses, calculations, and net results you’re looking for. This should be done before you ever get started. Here we demonstrate some key considerations by means of a case study.

To demonstrate the proper approach to designing and building a real estate spreadsheet in Excel, let’s use a residential multi-unit rehabilitation project example. To keep it simple, let’s assume it has 4 apartment units, was built 60 years ago, has 3 existing tenants, and requires new interior and exterior paint, some plumbing and electrical work to update the property to modern safety standards, and a partial re-roofing to fix some water damage.

Our first step is to capture non-quantitative data in the spreadsheet, so we reserve a worksheet for that. This is used for location and condition information such as address, zoning category, residential vs. commercial, neighborhood, occupancy in the building and surrounding area, school district, etc. This will all be useful for financing and insurance purposes, as well as keeping track of a number of properties if you have a large real estate portfolio or a property management company. You might want to put it into a standard database format in case you want to save and analyze the information later.

We want to look at costs, so we reserve a tab in the real estate spreadsheet for that. Here, you have a decision. You can either make a large list of standard rehabilitation and operating costs or a smaller list of costs specific to this property. The first option allows you to use the Excel spreadsheet for other properties which are probably not the same. The second option keeps things small and tidy and might work if this is a once-off investment. Either way, you will want to include all of the costs in a timeline schedule by week or month. This would include the re-roofing, paint, plumbing, electrics, landscaping, electricity if you are responsible for it, insurance, etc. The financing costs are likely to be the most complex because you need to estimate not only the interest rates of the loan or loans you get, but the principle amortization, mortgage insurance, etc. This can be complex from a calculations standpoint. How granular you get with costs is up to you.

Since this is a residential rental apartment building it makes sense to include rental income in your real estate spreadsheet. That’s obvious. What isn’t so obvious are things like interest on tenant deposits, subsidies, tax refunds, etc. When you’re building the spreadsheet you need to estimate when those revenues will arrive, and that relates to the number of tenants, the rental rates you charge, how long the lease term is for each tenant, etc. You also need to assume some late payments, evictions, and vacant units. If you haven’t invested in the area before this can be a challenge. You can gather data on that by speaking with local real estate agents, lenders, and tax agencies, or subscribe to an industry database that covers the local area.

In most locations you also need to consider taxes. Are these charged up-front? As part of the mortgage loan payments? How frequent are they? When do they actually need to be paid? Are there any accounting costs? Can you use any tax credits or breaks? How do you calculate depreciation if that is a tax deduction? Taxes can be quite complex and you need them in your calculations or your investment value estimates will be incorrect.

In conclusion, designing and building a real estate spreadsheet is no simple task. Hopefully this article has provided some useful guidance.

To see a well-designed real estate spreadsheet visit http://www.financial-edu.com/residential-real-estate-excel-model.php

With the guidance of real estate consulting, you’ll learn how to maximize your profits by investing in foreclosures and short sales. Most individuals look at the current state of the real estate market and see nothing but a black hole. But, you’ll learn that investing in these properties not only earns you a significant profit, but it also helps revitalize neighborhoods that are slowly going downhill by getting families into the homes that you invest in.

Why Invest in Foreclosures?

Lenders foreclose on a property when the borrower has defaulted on their payments for 90-days or more. In an effort to recoup some of their loss, the bank typically lists the property for sale for the balance that the borrower owes on the property rather than the actual property value. Therefore, you can often find properties listed for $100,000 that are in actuality valued at $250,000 or more. By purchasing the home, you’ve instantly gained $150,000 in equity.

However, the largest profit can be had when investing in luxury foreclosures. This allows you to receive up to 50% to 70% off. Therefore, if the home is valued at $600,000, you may be able to swoop in and purchase it for as little as $180,000. If the home is in a distressed condition, simply upgrade the necessities to bring the home back to par and sell the home close to full value to the right buyer. If you purchase the home for $180,000, invest an extra $30,000 into the property and accept an offer for $550,000, your profit is $340,000 on just one home. It would take the average person over six years to earn $340,000 in their day job. As a real estate investor, it can only take a few months.

Investing in Short Sales

You may be asking yourself, “Why should I invest in a short sale when I can purchase a foreclosure for less money?” Well, short sales are sometimes a better deal than a foreclosure as you’re dealing with the current homeowner, rather than just the bank. It is in the best interest of a homeowner to sell the property. Therefore, you are far less likely to find that a short sale is in distressed condition.

When you’re considering buying a home that is in good condition and can be had at a bargain-basement price, it’s an ideal scenario. Because the home isn’t distressed your expenses involved with bringing the property back to an acceptable standard of living are going to be less. Therefore, your profit margin is higher. Just like foreclosures, short sales are listed for the amount that is owed by the borrower rather than the market value. Therefore, you’re often able to purchase a quality property at a steal.

Investing in foreclosures and short sales holds the keys to transforming your financial life. Making the right investment decisions requires a hard work, skilled eye, negotiation skills and the ability to spot the right property at the right price. Real estate consulting can help you make the profitable investment choices for you.

To know more information about Real Estate Consulting visit http://www.realestateforeclosuresinvesting.com