Summary
Agency Representation 101 (Getting started in Commercial) · Understand brokerage (solo, team, group) · Support (training, mentoring, forms, signage) · Specialization (Multi-Family,Retail,Industrial,Office,Land · System development (leads, referrals, competencies) Marketing (Yourself, Your listings, Your Company) · Be assertive, aggressive and on target. · Everywhere (Websites, Blogs, Social Media, Chamber, etc.) · Getting PR and developing your CORE · Ask for assistance (Design, Message, Logo, Ideas) · Be creative (audio podcasts, video podcasts, QR codes, etc…think outside the box) · Always include your sponsoring brokerage in all advertising. · Reevaluate what doesn’t work and move on Forms (LOI, Lease, Non disclosure, Purchase Contract) · Locate and become familiar with current commercial forms in your office or documents library. · LOI (Identifying the basic requirements or expectations) · Be aware that most leases require attorney input. · Protection agreements (Non Disclosure, Confidentiality ) · Conditions in a commercial purchase contract Key Commercial Resources (Legal, Financial, Inspection, Appraisal) · Commercial Attorney (Understand the level of expertise) · Commercial Lender (Different requirements) · Commercial Inspection · Commercial Appraisal
Overview Module 2 REO (Bank Owned Property) challenges and opportunities · Distressed Assets · Hidden issues · New listings · Incentives
Reports (CMA, Asset Memorandum, BOV, BPO) · BOV · BPO · Asset Memorandum · Asset Matrix of offers · Remarketing
Due Diligence (Financials, Property Issues, Tenants, Options) · Financials ( Investment Analysis, Leases, Lender) · Property Issues (Environmental, Survey, Deferred Maintenance) · Tenants (Strength of leases, expiration, renewals) · Options ( Seller, Buyer, Conversions, Systems)
Useful Commercial Websites · MLS · Loopnet · COSTAR · Corporate · Globe Street · others
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