Career Tips in Commercial Real Estate Brokerage

The commercial real estate sales industry can be very rewarding to brokers and agents. That being said it requires focus and consistent effort if you are to reap real rewards and become a top agent.

Many salespeople join the industry with the hope that ‘things just start to happen’ as part of working for an agency or brokerage; unfortunately those salespeople do not last very long at all. After 6 months or so the reality of the market ‘kicks in’ with few if any commissions coming in.

It takes about 3 months of real effort to change your personal market conditions and your income. It is not a stop and start process. Things should happen to a plan and that will be a plan that you implement every day.

The agency or brokerage that you work for has little to do with the listings and clients that you create or serve. When you start working in the industry, start working hard on your commitment to personal success and progress. You will need a business plan or something similar that keeps you on task.

So what do you need to make the industry work for you? Try these for starters:

  • A good database that you keep up to date in all respects
  • A list of prospects and clients in your database that you can talk to in a continual way
  • Market knowledge and skills relating to your specialist property type
  • Sound and established negotiation skills for listing, inspections, marketing and negotiation
  • Excellent documentation skills relating to your property type, contracts, leases, and any other supplementary documentation
  • Personal drive and a passion for prospecting and selling
  • Excellent marketing skills in both direct, and indirect marketing
  • Communication skills that are advanced for the complexities of property sale, leasing, negotiating and closing.
  • Good time management and documentation processes that allow you to start the day early with momentum and results.
  • Targets and goals that you can track.
  • Exclusive listings that you control for your clients.
  • Referral opportunities with established clients and prospects.
  • Clients that trust you and your skills to help them resolve property problems.

To give momentum to these things it requires deliberate effort. Every agent or broker has plenty of opportunity to rise up in the ranks of the market. The key to making it happen is ‘personal activity and planning’.

It should always be remembered that the commercial real estate industry and market is under change. As brokers and agents we should adjust to market conditions and not wait for the market to come to us.

The Five Levels of Employee Motivation

Employee motivation can be quite a challenge. The decision on how committed an employee will be towards the organization, division or team, depends entirely on the individual. Therefore, the first step to employee motivation is to engage with each individual. Find out what makes him/her tick. The purpose of this article is to know what to look for when you engage with the individual.

Many leaders make the mistake of applying a single motivational strategy to all their employees. The fact of the matter is that different things might motivate different employees. So how do you find the right formula for each employee?

The Loyalty Institute at Aon Consulting did extensive research on employee commitment. They came up with the five drivers of employee motivation, also known as the performance pyramid.

It works a lot like Marslow’s Hierarchy of Needs where the first level of motivational needs first need be satisfied, before a need arise in the next level. It wasn’t intended that way. It just happened to work out like that.

The performance pyramid can provide some wonderful guidance to know what to look for when you engage with your employees. Let’s have a look at the five levels and see how it can help you to find ways to motivate employees.

Level 1: Safety and Security

Along with a physical sense of well-being, there must be a psychological belief that the environment is free of fear, intimidation or harassment.

Level 2: Rewards

Yes, you knew it. Most people won’t come to work tomorrow if they win a big lottery today. This is the perception that the organization attempts to satisfy the employee’s compensation and benefits needs.

Level 3: Affiliation

This is a sense of belonging. It includes being “in the know” and being part of the team. This is also where a difference in personal and organizational values can have a big impact on motivation.

Level 4: Growth

Employees want to have the belief that achievement is taking place. I might feel safe, get all the money I want and feel part of the team. But if there are no growth opportunities, I might think about leaving the company.

Level 5: Work/Life Harmony

This term speaks for itself. Someone might have all the rewards that he/she wants, but he/she will burn out sooner or later if they don’t have the time to spend it on the other things they want.

What Should You Do With These Drivers Of Employee Motivation?

While all five levels are important, the key is to pinpoint where the individuals and the workforce are not having their needs met. Start by offering a safe, secure work environment and equitable compensation and benefits packages. This is the foundation. However, before you launch those new and trendy benefits, engage with each individual and take a good, hard look at the basics. The young smart upstart employee might not be as exited about that benefits program. His needs might be to use that money to buy a new sport scar. The opposite might be true for the 40 something baby boomer.

Some other pointers to keep in mind:

  • Be aware of the five levels of employee motivation when you engage with your employees.
  • Make your own assessment of what the needs of each individual are.
  • Engage with each individual. Explain the different levels and ask them where they find themselves on the pyramid. What are his/her biggest needs?
  • Engage with bigger teams and eventually with the whole organization about these levels of employee motivation.
  • Do something about it. If someone wants growth, give it to him or her. If they want work/life harmony, make a plan. And Ditto for the rest of the drivers.

Advantages and Disadvantages of Online Classifieds

If you want extra traffic to your website, online classifieds are the way to go. Online classifieds are similar to newspaper classifieds. The only difference is that newspaper classifieds are only viewed by the people in the area that the newspaper was written for. Online classifieds can reach a global audience. So the amount of traffic one can receive is unlimited. There are several advantages and disadvantages to using online classifieds for business.

One advantage is the amount of time it takes to write and post an ad. It should take no longer than twenty minutes to write a good ad and post it to a classified directory. They are a quick method for advertising for internet marketers who don’t have a lot of spare time and want to increase their results.

Another advantage is that online classifieds produce quick results and require very little physical effort. Placing an ad can bring traffic to a website almost instantly. If done correctly, one can generate a boat load of traffic from classifieds.

A third advantage is that this strategy is very low cost. You can post to many classified sites for free. It is great for anyone who doesn’t have any money to advertise with or anyone who has a small budget.

One disadvantage of this type of advertising is that an ad will expire quickly. The ad will drop lower and lower in the rankings until it is not generating any traffic at all. The ads must constantly be replaced. Consistency is the name of the game. Keep posting ads daily and the results will speak for themselves.

Another disadvantage of this type of advertising is that one must post to many classified sites to see big results. Advertising on one site is not enough to produce great results. Take it to the next level and send ads to about 5-10 classified sites.

Overall, online classifieds are a great way to generate extra traffic to a website. It is quick and easy and does not cost a lot of money.

6 Important Aspects of E-Commerce Websites

Web development is an intricate process as there are multiple aspects to keep in mind. There are several things to consider like appealing design, user-experience, performance and easy navigation. E-commerce website development is a challenging process. Discussed here are certain important qualities that every e-commerce site should have.

Responsive Design:

Smart phone users are growing constantly. Most of the people prefer to shop online. It is due to this reason that a virtual shop should be responsive. It should be able to adapt itself as per the screen of the gadget in which it is accessed. Right from the basic navigation to checkout and payment, every platform of e-shop should be made available to the mobile phone users so that people on the move can buy.

Should Support Guest Checkouts:

The users should be able to create an account to book orders and purchase. A follow up communication often leads to future sales and hence this aspect of e-commerce website is important. Notifications for the upcoming items lead to the sales and hence a virtual shop should have this feature.

Site Search Feature Must be There:

30 % of the customers visit e-commerce sites to search for the products. It is important to ensure that the search functionality should be there in the site. Auto complete features help the users to find their popular products. Also, the visitors should be able to narrow their search in several ways.

Security is Important:

All the e-commerce website should support SSL to encrypt the information requires to remain secure. This is so because the payments are done through credit cards and the bank details are furnished. If your site is not secured, customers will not purchase from you.

Should Contain Multiple Modes of Payments:

People like to pay as per their convenience. It is due to this reason that ever e-commerce website should have multiple modes of payments including the most commonly used Cash-on-Delivery method. Most of the customers run away from the sites that do not have COD payment mode.

Should be Well-Optimised:

With an increasing competition for selling products and services online, there are more people than ever that are in the race. If you cannot be found easily on the search engines, you will be at a loss. An e-commerce website should be well-optimised and easily found. A majority of people leave your website if it does not load easily.

These are a few important features that an e-commerce website should have. If you want to have a roaring online business, you need to hire a reputed and reliable website development company that can take care of all the important aspects.