» Commercial Real Estate

  • Selling Commercial Real Estate
    By admin on September 1, 2009 | 3 Comments3 Comments  Comments

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    It can be hard to specifically deal in commercial real estate and forgo the exciting world of residential. There are times that would probably be easier to be in this business as well. It is a common site to see a lot of businesses going under and closing their doors on a lot of their store locations. This has not always been the case, in fact, just a few years ago, it was almost impossible to not sell commercial real estate at an absolute premium price tag. There are some tips that can provide a sense of comfort and also help you make the most of your empty spaces until the economy turns around. It is inevitable that the economy will turn around, so it is vital that you exercise a little patience during these tough economic times.

    There is no need to panic if you are having trouble filling your spaces. If you own a lot of property, such as a strip mall, it may be a little terrifying to see so many businesses moving out. It does not make it any easier when you do not have businesses approaching you with offers to fill the spaces that are being left unoccupied by other businesses. In the residential market, it is not an easy or quick process to buy a home. There is a lot of paperwork and a lot of negotiating to be done on both sides of the aisle. In the world of commercial real estate, it is ten times harder since you are often dealing with big corporation to lease or buy the spaces. This can mean a lot of negotiating and a lot of paperwork, which means it will take a good amount of time to fill these spaces as well.

    A lot of the country is not in that bad of shape financially. At least they are not in as bad of shape as some of the areas of the country. Some of the places that are the hardest hit include your industrial towns and cities that are focused on the manufacturing industry. For some of the citizens in these areas, it may be a good idea to locate to a different part of the country. Unless they just really want to stay in town and hurt for money their whole lives. A lot of the worlds economy has changed and some of these jobs will never be coming back. It also may prove to be useful to go back to school and get an education. Typically, with a degree you will be able to find more steady work than without one. When jobs are lost in an area, eventually a lot of the business start closing down as well because nobody is going there to spend any money. This is bad if you have chosen commercial real estate as your business of choice.

    It is true that you can make more money by choosing this route over the residential side of the business. You are also taking bigger risks with larger amounts of money by going with commercial real estate, but you stand to make a lot of money if you play your cards right. It is good to be smart with your money so that if times do get tough, you have extra money to buy up spaces that will be a lot cheaper when times are tough.

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  • Importance of Commercial Real Estate
    By admin on July 18, 2009 | 64 Comments64 Comments  Comments

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    The location of commercial real estate plays a crucial role in the success of a business. In today are tough economic times, business owners need to reexamine all aspects of their business. Smart businessmen continue to assess their staffing and inventory needs, cutting down costs and reinvesting the limited funds sensibly. However, most business owners tend to overlook one thing – their commercial property. If the current property is unable to enhance sales, may be it is time to consider purchasing a new commercial property for the business.
    Purchasing A Commercial Property

    Before deciding to purchase a new plot of commercial real estate , there are a number of things to consider. While most business owners are concerned about the cost factor, it must not be the only consideration.

    The most important factor to be considered is the location of the property. Studies show that the right location can enhance sales by more than 50 percent. Therefore, before planning to purchase a commercial property for business purpose, it is essential to ensure that the property is convenient, visible and accessible to clients. This is why most business owners prefer commercial properties in high traffic areas. Such a good location of commercial realty will save a lot of advertising costs. For instance, a simple sign placed on the building will serve as a free, billboard advertisement for the business.

    No matter what business one is involved in, such opportunities of free advertising are of immense value in the long run. Another advantage of high traffic areas is that a business owner can team up with existing businesses that are also trying to attract a similar group of customers. When businesses are concentrated in a good area, customers will naturally descend since it offers them a one-stop shopping setting.
    As the demand for commercial real estate in key locations is generally high, their value tends to be on the higher side. Although certain properties may have exorbitant purchase price tags attached to them, it is important to remember that the benefits of purchasing a good property will compensate for the initial price in the long run. So, it is a good idea to weigh the benefits of the current property against the cost and benefits of a new piece of property.

    After location, the next factor to consider is the quality of structures on the property. Compare these structures with other available buildings in the area. Commercial real estate nowadays features modern buildings that conform to green standards and energy efficient designs. Such aspects will help save running costs later on. In addition, many buildings now feature inbuilt Internet lines that can be a good upgrade from standard settings.

    Now, it is time to assess how far the current property contributed to the overall business efficiency. One must evaluate how well the current space meets business needs and whether the space is large enough to accommodate the growing business a few years on. If the employees are unable to put in their best efforts in the current space, buying a new commercial real estate is probably a good decision. Poorly designed commercial structures can adversely affect the smooth functioning of a business. For instance, if a particular business is heavily dependent on shipping, it obviously makes sense to choose a property close to a shipping center.

    If a business owner feels that his current commercial space is inadequate to meet his business requirements, finding a new property is a wise decision.

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  • Commercial Real Estate Investing
    By admin on February 28, 2009 | 65 Comments65 Comments  Comments

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    Investing money in land or property has become very popular to beat uncertain economic conditions. It increases economic growth as it adds to the countrys GDP. It can be sold in the future at suitable time to earn revenue. Not only for economic welfare but also for personal or commercial reasons, it is banked upon by many people. Out of many property ventures, commercial real estate is a profitable one indulged by those investors who specialize in property business. Its market has risen compared to other housing business. Modern strategies can be exploited with innovative ideas and sustainable initiatives for expansion of the property business. However, the prime requisite for opting for a commercial property is the type of the business.

    Location is very important for a commercial real estate . It must be well-connected with the centre of the city, having all the necessary facilities within easy reach. Since it is meant for business or company needs its position speaks for itself. Finding such a place is relaxing with assets and property brokers who are legally assigned for this task. A property agent works for an agreed commission. He helps the buyer to purchase at a reasonable price while for the seller he selects a high-revenue earning deal. Beside professional assistance, the property needs impressive displaying and catchy presentation before its prospective buyers. Advertisements through newspapers or internet are very common. The latter one is the most effective reaching out to a huge number of people within a short time.

    To find the ideal commercial real estate among so many available in the market a person takes recourse to the internet. It speeds up the process. The company websites give information regarding their services, terms and conditions, and policies which an interested person comes across. This makes it easy for him to compare and contrast prices, features and services of companies. A simple market research through the fastest means at the end provides him with the best option. It saves time in traveling personally to each place to observe the properties directly. Just a click on the mouse and several companies lay bare in front of his eyes. Necessary documents must be kept ready while negotiating the deal. Moreover, it must be finalized before an attorney.

    Since commercial real estate that can be rented or bought, is of various kinds from office space to storage rental or more, it is important to know about their features and all other relevant details. Again business type affects the size of the commercial property, and so the owner must realize this need very clearly. It is suggested therefore that a buyer has explicit understanding of the feature and nature of his business, and what he desires in his office. Planning a business carefully is hence a very crucial step to a successful deal. With systematic approach he must assess the entire matter very thoroughly before he goes for a property investment. This will not only save time and energy but also available resources that he has in his hands.

    A commercial real estate boosts the reputation and success level of a business. Investing in lucrative properties should not be ignored. This resource can be exploited in the future to bring in more profits. However, it is wise to be organized and cautious about the observance of rules to avoid getting cheated.

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  • Most Populart Commercial Real Estate
    By admin on January 9, 2009 | No Comments  Comments

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    Commercial real estate takes many forms and is available in a number of types. There are many uses of such properties and several are used for offices, residential homes, warehouse garage storage and other such purposes. These homes are sold or rented out or even turned into other purpose commercial units. The most common type of such a property is the multi family commercial real estate . These are the most common type of property, which is basically used for the habitat of multiple group of families. These may be in the form of single homes, duplex homes and also other habitats where families mainly use it as habitat. Condominiums are the common form of homes and most popular among the younger generation. These units are also referred to as multi-family as people live in these places as group dwellings. These homes are usually listed and sold together as common residential units. Many are also sold as residential units that are made for a single and extended family. Duplex homes that are also quite popular and common are usually listed. The special feature of these duplex homes is that a buyer lives in one side of these homes and rents the other side to others, thus making some income.

    Another kind of commercial real estate that is most common is the property with the retail space. This is considered to be the most important kind and in demand property. Under such properties are several kinds of buildings that are used for several purposes such as single buildings. Such single buildings are the most popular kind today and are used by retail giants for their clothing, consumer products and electronics stores. These are in other the lovely malls and entertainment zones that we usually see in our city. One of the favorite among the shoppers as being a one stop destination, very few people are aware of their commercial significance. In these special commercial real estate units you shall find specialty places for restaurants and other retail chains. The valuations of these places are usually based on the size of properties, the retail sales per square foot of property and also based on calculations that are made on other kinds of investments. The retail units are one of the best examples of commercial properties. Today, most companies are taking these properties on lease for the purpose of their retail chains and units where they can set up several outlets. Such units are popular among the customers also, as they get several goods just under one unit, without having to hop from one place to another wasting their time, money and energy. Thus these are considered to be the most popular kind of commercial establishments.

    Office buildings and complexes that serve the purposes of office are also a kind of commercial property. These are usually single buildings that are solely designed for office use. There also maybe a group of offices or cluster of buildings that maybe used for official purposes and these are commonly referred to as commercial real estate office premises. The owner derives monetary advantage from these properties in the form of rent. There are also many buildings of a single owner, and each building divided into a number of units and each of which is let out to different individuals. In such a case the income from such properties may be huge benefit for the property owner.

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  • Callers Say The Strangest Things
    By admin on July 19, 2006 | 3 Comments3 Comments  Comments

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    Robin turner PhoneSmart call center manager offers the following story about phone calls.

    Welcome to the PhoneSmart property management blog, the ins and outs of property and commercial management.

    I was reviewing some calls that our reps had taken over the last couple of days and I came across one call that was different from the rest. The rep offered a special stating that he’d match the competitor’s price. The caller had an odd response. I guess he was just in a bad mood that day. The caller stated…

    “What do you mean? That’s the special?”

    As the rep stated that that was the special that was currently being offered and he couldn’t beat that, the caller asked…
    “So I need to do all of the leg work? I need to call around and find the cheapest price? Why can’t you just give me the best deal you can? This is like that commercial I saw on TV where the customer goes to one store and needs to purchase a racket and it was priced at $7.95. The sign stated that they would match any competitor’s price. The man told the salesman that he had seen the exact same racket at another store for $4.95 and the salesman asked him why he didn’t buy it and the customer had told the salesman because they were sold out.”
    A bit frustrated, a bit sarcastic… The caller ended the call stating that he was going to shop around. Never the less, our rep handled the call just as he should, stating that the special was the best he could do and it was a PRETTY GOOD ONE at that.
    You’d think we wouldn’t have heard back from the caller, but about 20 minutes later the caller called back and said he decided to go with them as they had the best deal. So, remember to stick to your guns and keep your head up, be confident in what you have to offer and you never know, even with those difficult callers, you could get the deal after all.

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