This week’s podcast is the second in our Success Stories of Commercial Real Estate Brokerage series. Stephanie Maye tells her amazing story of how she first became enamored with real estate by driving subdivisions at the age of only 16, made her first industrial property investment at the age of 25 and how she now serves as a trusted commercial real estate advisor for high net worth individuals.
Stephanie shares her transition from residential brokerage to commercial brokerage and the process she went through to find the perfect fit in a commercial brokerage firm that was aligned with her values and philosophy. Listen to her advice for focusing on relationship building and providing excellent service to clients and prospects. Stephanie is a true professional and an excellent role model for anyone who wants to build a successful and fulfilling career in commercial real estate brokerage.
Please note, that Stephanie and her firm are located in Canada and Canadian licensing, rules, regulations, etc. are specific to Canada and therefore, may differ from the United States and other countries.
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. If there are other terms not defined here, please email me and I will send you the definitions.
Land Bank: The term “Land Bank” or the strategy of “Land Banking” can have several meanings including governmental assemblage of property for future development or a specific financial institution specializing in the financing of land, particularly farm land. However, as it relates to commercial real estate and in the context of the interview, the strategy of Land Banking refers to an investors’ purchase of raw or vacant land with the intent to hold for either future development or anticipated appreciation.
Due Diligence: Due Diligence in commercial real estate refers to the thorough inspection by the buyer of any and all aspects of the investment prior to fully committing to move forward with the transaction. There is typically a defined time from during which the buyer may conduct the due diligence and a list of the specific items that the seller must provide to the buyer for inspection. A partial list of these items may include things like physical property inspection, roof inspection, code violation inspection, tenant lease agreements, tenant payment history, tenant interviews, financial accounting related to income and expense history and much more.
“Resi-mercial Broker” This is a common term used for agents and brokers who primarily engage in residential real estate brokerage but also represent clients in commercial real estate transactions from time to time.
LINKS AND RESOURCES MENTIONED IN THIS EPISODE
- Stephanie Maye: Learn more about our guest.
- RealHound CRM Software: Note – I have not used RealHound and cannot endorse or recommend it for that reason. This is not to say that the product is not a good product, only that I do not have direct experience with it. As always, I only recommend products and services that I have direct experience with.
- Client Look CRM Software: Note – I have not used Client Look and cannot endorse or recommend it for that reason. This is not to say that the product is not a good product, only that I do not have direct experience with it. As always, I only recommend products and services that I have direct experience with.
- CREFirms.com: Our sponsor for the Smart CRE Broker Podcast. Check them out for a free trial AND enter the coupon code smartcre to receive an exclusive discount just for our listeners!!
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