Overview Module 1 & 2
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