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The Summer Season: Setting Yourself Up For Success

Posted on by SVN

Summertime… and the Earning is Easy

When I picked up my kids from preschool, I noticed that just about every pair of snow boots was gone. (That’s right, in Minnesota, we keep snow boots handy well into May!). Summer is upon us. And, soon, you’ll hear people making the usual excuses for taking it easy:

  • No one does business
  • All of the clients are on vacation
  • I can’t make money

And they’re all untrue.

Now, let me be clear. If you want to take it easy this summer and can afford to, go for it. It’s your business and your choice. However, if you want to solidify your year and maximize your chances of going to Partners Circle, it’s time to buckle down. Think it won’t work? Well, let’s work backwards….

  1. December is, by far, the busiest month of the year for sales.
  2. Deals that close in December go under contract in September or October.
  3. Deals that go under contract in September and October usually get listed somewhere between July and September.
  4. Deals that get listed between July and September usually come from client contacts between June and September.

What does this mean? In brief, summer sets up the best month of the year.

Making the Most of the Summer Months

So what do we do about it? First, let’s face the facts. Yes, people are more likely to take vacation in summer. Yes, they’re more likely to kick off early on Friday. And, yes, some even spend the whole summer at a vacation home or cabin. So what?

If your client is someone who works for a living, they probably aren’t as flaky as you think. Call them any time other than Friday afternoon, and understand that they could be gone for a week or two out of the season. The rest of the time, it’s business as usual, especially if you have something good to talk about. Summer’s a great time for lunches at outdoor restaurants, playing golf with clients and the like. And if you have their cell phone, Friday afternoons can be a great time to reach them. If they’re heading to their cabins, odds are that they’re sitting in traffic and have nothing better to do than talk to you. While New York city traffic to the Hamptons is legendary, this happens everywhere – try taking the Golden Gate Bridge on Friday afternoon to leave San Francisco and get to Wine Country or going out I-94 or US 169 into the lake and cabin area in Minnesota north of the Twin Cities.

Clients who have more free time can be a little bit more challenging, but they’re still reachable. Believe it or not, cabins have phones, computers, and Internet connections. Furthermore, if you’re willing to make the drive to meet a couple of clients in their cabins, you might find that they’re completely different people. Wouldn’t you like to meet prospects that are more laid back, more open and more engaged?

In other words… Business gets done in summer. You just have to do it!

[bctt tweet=”In brief, summer sets up the best month of the year. #CRE” username=”svnic”]

The Benefit of Listing Commercial Real Estate Properties

Posted on by SVN

What’s the Benefit of Listing Commercial Real Estate Properties?

Let me start with some full disclosure… Every commercial real estate transaction that I have done was at a large, national real estate brokerage. The firm I worked with emphasized the value of listing commercial real estate properties and generally did an excellent job of adding value to its clients. So I’m biased, but for a good reason.

When they’re done the right way, commercial real estate listings work.

That being said, if you’re hiring a Broker that’s just going to talk to the same “usual suspects” then put your deal on LoopNet, I would say do it yourself. LoopNet memberships are cheap, and the “usual suspects” will take your call if you have a deal to sell them. Really. I promise.

So what’s so great about a well-executed commercial real estate listing? Here are a few things to keep in mind.

The Value of Listing Commercial Real Estate Properties with a Broker

  • A professional CRE Broker will value your property and tell you where it will sell. You might not like it, but it will be the truth. Actually, make sure it is the truth. Ask him what his average list price to closing price ratio is. Mine was 99% way back when.
  • If only the “usual suspects” see the listing, they’ll usually low ball you.
  • Good commercial Brokers track people in 1031 exchanges. If yours does, she should be able to get you good offers from great buyers.
  • There are lots of buyers that don’t do a lot of deals but, when they do, they pay good prices. They typically aren’t on the internet a lot and aren’t well-known enough to be in your database, unless you’re very active. A commercial real estate Broker with a good database should know them, though. Listing with THAT Broker will give you access to THOSE buyers.
  • A listing Broker will do a lot of work for you. They can run tours, coordinate advertising, and even do walk-throughs, letting you not only maintain a buffer from the buyer, but also save time.
  • Listing your property shouldn’t cost you much. When a buyer brings you an offer through a Broker, you’re either going to pay that Broker, or the buyer’s going to lower her offer to pay the Broker. If you have a Broker, you know what you’re paying and he/she takes care of paying the other Broker.

Ready to list your property? Find your nearest Sperry Van Ness® Advisor, who will always bring value to your commercial real estate listing, by searching our directory here.