The Smart CRE Broker Podcast turns to training this week as we discuss the key steps that lead to closed transactions. We’ve created a model called the Complete Brokerage Success Model that will serve as your roadmap to a successful career in commercial real estate brokerage.
Sometimes we get so caught up in tasks at hand or activities that don’t produce the results we want, we find ourselves busy but not productive. In this episode we talk about how to deal with each phase of the continuum as you build your brokerage practice. We talk about the importance of consistent and never ending new business development as well as how to manage transactions to increase your probability of closing each one.
We have created an info graphic that shows each of the 12 steps we discuss on the show. You can find it here: www.smartcrebroker.com/cbsm.
COMMERCIAL REAL ESTATE INDUSTRY TERMS MENTIONED IN SESSION 3
For those who are just entering the business or generally not familiar with standard industry terminology, we will include definitions of terms used by the people we interview in the Show Notes for each podcast. In this episode there was really only 1 industry term mentioned, but if there are other terms not defined here, please email me and I will send you the definitions.
1031 Exchange: A 1031 is also known as a “like-kind” exchange and is an Internal Revenue Service-approved method for deferring taxes on the sale of an investment property. Essentially, a 1031 exchange transfers the proceeds of an investment property sale to the purchase of a new investment property. 1031 exchanges are frequently quite useful to real estate investors. When done properly, 1031 exchanges delay tax payments and keep untaxed capital gains or profit working for investors as they move from one real estate investment to another.
LINKS AND RESOURCES MENTIONED IN THIS EPISODE
- REA: Contact Relationship Management Software
- Apto: Contact Relationship Management Software
- Loopnet: Online listing and search service for commercial real estate
- Smart CRE Broker Academy: Coming Soon! Lots of valuable training tools for those who want to be superstars in commercial real estate brokerage!
- CRE Firms: Our sponsor. Check them out for a free trial!
- The Complete Brokerage Success Model Info Graphic
THANKS FOR LISTENING!!
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