5 Steps To Commercial

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Realtors Commercial Alliance Of Greater Miami and the Beaches

Serving over 1,100 Commercial Professionals

The following slides are property of RCA RAMB for permission to use these slides please contact [email protected]

mailto:[email protected]

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Use the RCA RAMB Commercial Resources – your local Commercial dues is $140 for non-RAMB REALTORS yearly (Currently prorated at $46.50 until June 30th) RAMB Residential is $90 yearly and it is prorated at $30 until June 30) and you get these for free!

• IMAPP – with tax records updated weekly – free Commercial IMAPP classes – interactive with MLS and the ability to create mailing labels targeting commercial prospects

• Member to Member Email – reach over 1,000 commercial members with a few clicks and promote your commercial Haves/Wants.

• TerraFly Premium – with enhanced features and high resolution photos (no need for fly overs) and new integrated data for RCA RAMB and RAMB Members

• Free monthly Commercial Marketplace network breakfast where you can present your commercial properties and wants every month.

• Integrated immobel website with 13 languages for local, national and international commercial properties. Special RCA RAMB template…


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Tip #1: Learn the Basics

• What is an LOI

• What is a Cap Rate?

• What is GRM

• Is it important to know these and other commercial terms?



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5 Basics to Do Now…

1. Purchase Cindy Chandler’s Insider's Guide to Commercial Real Estate

2. Take an Intro Class (RCA RAMB, CCIM, Gold Coast etc.)

3. Download the CCIM dictionary at www.realtor.org/commercial

4. Decide a specific area (i.e. sales/leasing or office/industrial/retail etc.) and explore

5. Read the information that is free for REALTORS on www.realtor.org/commercial.org


http://www.realtor.org/commercial

http://www.realtor.org/commercial.org


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IMAPP

5. Miami Dade tax data is updated every week and 13 other counties at least once a month

6. Create and print mailing labels for Industrial, Office, Retail and Multi-Family properties based on tax records with just a few clicks…

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• The book is basic and starts with many of the industries linked to commercial.

• Cindy is a national instructor who discusses the differences between commercial and residential

• A great overview but it is just the “tip of the iceberg”




http://www.amazon.com/gp/product/images/1419540564/ref=dp_image_0?ie=UTF8&n=283155&s=books

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One of the most common questions I get is on Commercial Forms

• Many commercial forms such as (Commercial Contract (CC-2), LOI and Exclusive Right (ERS-4cp)) are on the FAR website and you can search by category or title… https://www.floridarealtors.org/ToolsAndSupport/index.cfm

• Leasing forms are not standard and are often drafted by an attorney

• Unlike residential attorneys draft many of the commercial contracts because of their complexity and because they are not “cookie cutter”



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Exclusive Offer for NAR Members: Take CCIM’s Institute Online Introduction to Commercial Investment Real Estate Analysis Course for Just $149This special rate is only available to NAR members – save 40 percent when you register now!

About CCIM’s Introduction to Commercial Investment Real Estate AnalysisAccelerate your rise to success in commercial real estate by building a solid foundation. This introductory course teaches you the fundamentals of the commercial investment real estate industry, such as compounding and discounting techniques, calculating internal rate of return (IRR) and understanding common lease clauses from both the owner and tenant perspective. a financial calculator to more complicated requirements such as setting lease terms or financing a deal

Register for CCIM’s Online Introduction to Commercial Investment Real Estate CourseCompleted forms can also be printed and payment can be faxed to 312-321-4530 or mailed to CCIM Institute, 430 N Michigan Ave, Suite 800, Chicago, IL 60611. For questions, call the CCIM Solution Center at 800-621-7027 or e-mail [email protected].





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• www.ccim.com

• Next Intro in Miami is April 16-17

• Cost is $365

Solve investment problems using a financial calculator. Understand basic real estate investment analysis tools. Perform basic mortgage calculations using compounding and discounting techniques. Know how to compare similar properties, project vacancy rates, and estimate absorption figures. Identify other ways to make a profit in commercial real estate besides brokerage.



http://www.ccim.com/


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NAR Commercial Resources



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Technology & Intelligence Briefing• Audio CD that contains interviews with

industry thought leaders and practitioners

• Included with quarterly RCA Report• Available online and for iTunes

download• New in 2008:

– 1 featured speaker per month– Mailed on CD in 2Q and 4Q with

featured speakers from previous months

– Will be available onlineThe following slides are property of RCA RAMB for permission to use these slides please contact [email protected]



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Hot Topics White Papers• Designed to help members become more

profitable and successful by providing up-to-date information on issues that impact their business

• New in 2008: Tenants in Common Tool Kit, to include:– Brochure– Information detailing exemption (currently

working with SEC)– Buyer’s Agreement (developed by NAR

Legal)• Will be available online through the Realtor.org

Store, member discounts availableThe following slides are property of RCA RAMB for permission to use these slides please contact [email protected]



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RCA Quarterly Report• Features:

– Latest legislative and regulatory information that impacts commercial real estate business such as the FCC banning exclusive building cable contracts and the latest on the TIC Exemption

– Industry updates on issues such as technological innovations, implications of tax law changes, dispute resolution techniques

– In-depth and original feature articles on the impact of the declining dollar on commercial real estate investment, adding value to commercial properties and overviews of the latest studies on issues such as green-buildings, negotiation skills and partnerships




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NAR Commercial Outlook

• Quarterly

• About 18 pages

• Includes SIOR Report

• Source: Real Capital Analytics

• Often includes Miami



15The following slides are property of RCA RAMB for permission to use these slides please contact [email protected]


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Commercial Report• Contains timely industry

news, event information, public policy updates and research resources

• Everything you need to know emailed to you on a monthly basis




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Commercial Leading Indicator (CLI)

• Quarterly report used to assess market behavior in the major commercial real estate sectors

• Use this as a means to generate interest in local market assessments and create local reports

• New in 2008:– Call for individuals willing to participate in quarterly conference

calls with NAR’s Chief Economist Lawrence Yun– Purpose is to review results of CLI and be identified as the main

contact for media inquiries in their market– NAR will media train individuals– Public affairs grassroots effort– Goal is to create a nationwide network




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Tip #2: Find a Mentor

Jose - Hank Klein.wmv JoseEdEaston.wmv



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Tip #3: Advanced Education

• Top Designations/Organizations:– CCIM – Even if you do not pursue designation taking

101 or 102 can be fruitful– SIOR – Now dedicated to electives including leasing

experts– IREM – leading designation (Certified Property

Manager) CPM



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• Specialization is more than an opportunity it is a wise strategy:– Green USGBC (LEED Certification)– Property Manager Certified Property Manager (CPM)

– Leasing Landlord or Tenant Rep– Investment Certified Commercial Investment Member (CCIM)

– Industrial and Office Society of Industrial and Office REALTORS (SIOR)

– International – Certified International Property Specialist (CIPS)



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SIOR Designation class is March 12-14 in Fort Lauderdale

CCIM classes as mentioned are on www.ccim.com and designation requirements are included on website

IREM.org for those interested in property management designations


http://www.ccim.com/


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Other• Go to RCA RAMB Expert and Community

Series to learn more about specific commercial topics

• Go to other local commercial events like CCIM Outlook, CIASF Office/Industrial Reports and NAIOP Bus Tours



24The following slides are property of RCA RAMB for permission to use these slides please contact [email protected]

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Other research resources • Leasing -- http://www.cresapartners.com/miami/ • http://www.grubbellis.com/Research/Reports.aspx

• http://www.colliers.com/Markets/Miami/ • http://www.naimiami.com/reports.asp • http://www.cbre.com/USA/US/FL/Miamidt/profile.htm?pageid=9


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Tip #4: Prospect, Prospect, Prospect

• Networking• “Door-to-Door”• Direct Mail/email • Referrals• Some of the same methods used by residential agents

are abandoned when they start prospecting in commercial

• http://tinyurl.com/9znlnz

A few suggestions more general suggestions


http://www.realtor.org/commercial/technology_and_intelligence_briefings_podcast



http://tinyurl.com/9znlnz


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Local Commercial Organizations• BOMA - www.bomasf.org • CCIM - http://chapters.ccim.com/floridamiamidademonroe • CIASF• CREW - www.crewmiami.org • IREM – www.irem19.org • NAIOP - www.naiopsfl.com/

• SIOR www.sior.com/

Network · Network · Network

Tip #4: Prospect, Prospect, Prospect


http://www.bomasf.org/

http://chapters.ccim.com/floridamiamidademonroe

http://www.crewmiami.org/

http://www.irem19.org/

http://www.naiopsfl.com/

http://www.sior.com/


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Tip #5: Market, Market, Market

• Traditional listing services

and CIEs…• Network at Marketing

Sessions• Newsprint

A few suggestions more general suggestions



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Commercial Listing Services• MLS – sef.mlxchange.com • Catylist - http://www.catylist.com/• COMMREX – www.commrex.com• CommercialSource – www.commercialsource.com• DealMaker – http://www.dealmakers.net/ • CoStar – www.costar.com• ePropertyData - http://www.epropertydata.com/

• Loopnet – www.loopnet.com• Total Commercial -- www.totalcommercial.com• Xceligent – www.xceligent.comBy including these resources by no means endorsed one listing service over another…



http://www.catylist.com/

http://www.commrex.com/

http://www.commercialsource.com/

http://www.dealmakers.net/

http://www.costar.com/

http://www.epropertydata.com/

http://www.loopnet.com/

http://www.totalcommercial.com/

http://www.xceligent.com/


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Member-to-Member Marketing

Html Flyer



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Paul,

Last Thursday I sent out an e-mail thru the RCA site. The response was overwhelming, and by the next day I had a CONTRACT. I want to thank the membership for there responses and RAMB for giving us the tools to be successful.

Best Regards,

Jason

Yes, it really works….



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Commercial Marketplace• Monthly meeting at RAMB– Present your haves/wants - every 1st

Thursday• Exclusive Service … Email haves/wants to RAMB RCA Members • 40 to 60 people

• Put on presentation to local organizations (chambers, rotary) – you can reach business owners and the business community but make your presentation useful and have detailed info (remember the NAR

research available!)




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• Education is crucial start with basics but always stay on top of the market (use the info you gather in marketing pieces to existing clients and prospects.) Then take the time to continue educating yourself. Consider specializing in leasing or sales and consider becoming an expert in industrial, retail, office, investment or in another aspect of commercial.

• Find a mentor that is willing to include you in some of his/her transactions or consider sacrificing some/all of your commission on a transaction or two by “shadowing” the process.

• Market the products you have and advertise your wants. That means: networking, using listing services, joining organizations and developing a database for marketing. Remind your clients, especially in this market, the various resources you are taking advantage of…

• ABC but also ABP – you always need to keep your pipeline full in order to maintain momentum especially since many commercial transactions take longer than residential to consummate. Don’t get discouraged, keep hunting through: networking, direct mail, emails, joining organizations and getting involved in the community.

In Summary


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“If you want to be big, you’ve got to be

big in big things.” Jeffrey Engle, GE

“My future starts when I wake up every morning… Every day I find something

creative to do with my life”Mile Davis, Jazz Legend


5 Steps To Commercial

Real Estate

Transcript of 5 Steps To Commercial