Commercial Real Estate Clients – Negotiation Tips and Tools That Help You Win Better Listings

Negotiation in Commercial Real Estate can be a bit of a battle for some newer real estate agents, and the sellers and landlords you work with can be difficult to reason with, especially if you are the real estate agent doing the deal or negotiating the listing for them. You naively expect the client to say ‘yes’ to everything you say, and then don’t know what to do when things take a turn for the worse.Many commercial property investors have been around for some years and have dealt with many real estate agents. They know the protocols and tricks of the trade. Expect them to challenge you in many ways. Have your answers ready.So many times you hear real estate agents say things like this about clients:The client won’t listen to me
The other agent won it on lower fees
They want a crazy price
They want to test the market now and sell later
This won’t sell in this market
They want to open list around many agents
Overpriced and poorly managed
The other agent stacked the price up
They want me to pay the marketing!
They took the cheaper option with that other dumb agent up the road
They are wasting my time
They are not genuine in selling
They are not honest and open in giving me the property detail
The tenancy schedule is really wrong and the client won’t give me the leases to look atThe list goes on, and I expect you would have a selection of your own observations to add. So what can you do here? Stick to your convictions.Expect the client to be absolutely challenging from the start and have a professional confidence that shows the client that you really do know what they should do, and that your solution is best. If they say ‘no’, then that is OK. It is not the first and last ‘no’ response you will hear.Above all else you have to stick by your convictions and recommendations in commercial real estate. Do not bend under pressure as it will get you nowhere in the long term. Know what the client needs to do to sell or lease the property today, give them the target market and clear solutions to attract it, charge a fair fee, and promote the property with client funds. It is better to walk away from a client that is unrealistic.If the client wants you to discount any of your fees or marketing costs, or cut corners in the sale or lease of the property, in most cases you should stick by your original solutions and choices. If you give in to the client’s requests, they have manipulated you, and you will loose their respect in your skill and convictions; you could be wasting your time in taking the listing on.Rarely do highly priced, fee discounted listings work. They stay on the market for a long time and the client then changes real estate agency to re-list at a lower price or rent. You have by then wasted a lot of precious time. Know what works with the property and its problems, and make sure the client sees your convictions to make it happen.The first negotiation you will ever make is in listing the property. That negotiation and then every negotiation after it have to be firm and supported by your property knowledge and convictions.Clients will take always time to warm to you and trust you as their real estate agent. To shorten this negotiation problem, position yourself as knowledgeable and very professional in all stages of the property activity. If you get a listing knock back or loose a listing opportunity, move on fast to the next client or prospect. Do not discount or prostitute your services; your living depends on it.It is better to have a smaller number of quality listings with quality clients that really trust you, than have lots of highly priced open listings where the clients have discounted your marketing, services, and fees. There are plenty of properties out there to list and the way for you to find them is to prospect more. When in doubt, move on.

Dig Into Tips Before Making a Real Estate Investment

Have you planned to book a property? If yes is the answer to this question, you must better explore the tips before delving into the real estate market. However, the city has turned into a major hub of properties where one could find varied types including apartments, villas, penthouses, commercial spaces and plots. Many renowned builders have also launched a plethora of projects. Thus, a buyer can get a huge number of options, but getting trapped with an unfavorable deal is also possible. So, before you make a deal or buy a property within the city, go through the following tips.A Few Useful Tips for Buyers:Realize the Possible Risks:There is always a possibility that the deal you are getting will be unfavorable. Try to always avoid the risk of getting confined with a wrong deal. Understand that there are two types of investments in the real estate market, namely, private investment and public investment. With private investment, the buyer becomes the sole owner and use the property in any way. So, the complete risk has to be tackled by the owner. Second comes the public investment, within which the buyer invests only in the share of the property and enjoys the profit. The buyer does not become responsible for any of the property.Jot Down the Complete Plan:Investing without any plan can either give an inappropriate deal or it becomes equal to impossible. So, either plan yourself or avail the assistance of your financial manager. In terms of investing, the professionals have best plans and the key to invest. So, people can easily pay for their deals, if planning has been done in a smart way.Cross-check the Property Before Booking:Even if you consult with your buyer, make sure you have visited each room. Check out the material used or the interiors. You can also discuss with your builder about the material used or the architectural related things. Fix the deal, only if you are satisfied with all the essential elements.Make an analysis on real estate ongoing trends:Make sure that you have made a good analysis on the real estate market trends. Try to follow news, social media or articles that can convey you the current prices, best location, best deal and discounts. You can also subscribe to a website that can update you with the recent updates. Making an analysis can help you to figure out an appropriate location and project.Check your budget:Your dream could be big for buying a property, but it is very important to realize the budget. It is not true that you will exactly get for what you are dreaming. Sometimes, you can get even better or just satisfactory. Thus, always discuss with your consultant about the budget and accordingly explore various options available within the range. Currently, the realtors are having all range of projects starting from low range to a very high range.Exploring the above mentioned tips can help you to get an excellent property deal along with high returns.