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 Stage of Business – Introducing Incidental Risk and the Critical Path

First of all, what is considered a risk? If we are going to identify the risks we will need to know what to look for. I have heard risk defined as the effect of uncertainty on objectives. That definition is all right but a bit too vague. To effectively identify risks for a particular project or initiative, I think you have to be a bit more specific to the objective.

As risk relates to the Project Streamâ„¢, best practices would dictate that each level is completed before the next level begins. As indicated in the diagram above, overlapping levels (as shown) will result in incidental risk and compromised results. This is a common occurrence and typically happens when levels stretch out and do not have a disciplined schedule for milestone start and completion.

“Delays have dangerous ends.” – William Shakespeare

When the project start and finish date are fixed, milestone durations should be planned with contingency durations. Otherwise any expansion of a milestone duration may compromise the adjacent milestones or possibly even the overall project risk.

Risk management scheduling is a critical part of project planning. The more time you spend crafting the schedule, the better chance you will have of project success. If you plan it well, you will be able to use the process schedule to effectively manage the project scope, schedule and budget.

“True nobility is exempt from fear.” – William Shakespeare

Make a Plan, Have a Plan. You will be glad you did!

Don’t be afraid to look to the past when crafting your plan for the future.

How Affiliate Marketing Works – A Step By Step Guide For Beginners

Looking to make an income online? Got a computer / laptop and an Internet connection? Then Affiliate Marketing could be the simplest and quickest path to fulfilling your dream.

Here, you’ll discover the 6 simple steps that will take you from complete beginner to Affiliate Marketer in as little as 48 hours.

WHAT IS AFFILIATE MARKETING?

Affiliate marketing is a performance-based marketing system where a product vendor pays an “affiliate” a commission when someone buys their product. That “someone” having been referred to the vendor by the “affiliate.”

And it all happens online: You have a web presence, usually a website, that you attract like-minded visitors to, where you “warm them up” to the idea that the product you’re promoting (as an affiliate) is the perfect answer to their pressing problem or need.

That “product” could be physical (books, CDs, DVDs, clothing, jewelry, natural medicines, etc.) or digital (e-books, e-reports, software, online courses / trainings, etc.).

When your visitor clicks on your affiliate link (on your site) they are redirected to the vendor’s site, where the vendor will close the sale; a lot easier after you’ve warmed them up! When your site visitor buys the vendor’s product you get paid a commission.

For example, if the product cost $100 and you get, say, 50% commission, you’ll get paid $50! And all for, basically, introducing someone with a pressing problem or need to someone who can fix that problem.

Affiliate marketing is ideal for beginners starting out online as it has a very low barrier to entry: it’s a very simple process that doesn’t need any particular technical skills, you don’t have to have your own product, and it doesn’t cost the earth to get started. In fact, you can get going for less than $20!

And, you don’t have to do selling, or fulfillment, or keep stock, or deal with payment systems, and you don’t have to deal with customers; the vendor does that.

All YOU need is an Internet connection and a computer / laptop and you’re good to go.

AFFILIATE NETWORKS

Because affiliate marketing is so profitable for both affiliate and vendor, over the years many “affiliate networks” have sprung up to help both affiliates and vendors manage their affairs much more efficiently and easily.

Vendors can attract affiliates by advertising their products on these networks and affiliates can easily find products to promote. Once an affiliate decides to promote a certain product the network assigns an affiliate link / ID so that sales of that product can be linked back to the affiliate.

The affiliate network also takes on responsibility for managing the flow of money between vendor and affiliate either by electronic transfer or check. It also charges a small fee to both vendor and affiliate for the service.

There are many affiliate networks to choose from, but a beginner to affiliate marketing can easily get started with “ClickBank” and / or “Amazon.”

GETTING STARTED WITH AFFILIATE MARKETING

1. Choose Your Niche and Product

The first step is to decide which niche you wish to operate in. A “niche” is a group of people with very similar interests, e.g. gout sufferers, broken relationships, looking for car insurance, how to make money online, etc. But, of course, it also has to have proven “buyers” in it in order to make money.

So how do you find a profitable niche with lots of profitable products you can promote?

A very quick way to do this is to search affiliate networks for niches that have several products that their stats tell you are selling well. If there are lots of products that are selling well, you now know that the niche is a profitable one, and, the buyers in that niche like those products.

In other words, there’s no second guessing; you know for a fact that you can make money in that niche and you know for a fact which products are successful, unlike if you had to develop your own product!

Once you’re happy with a product, you sign-up as an affiliate for it and are given a unique link that you place on your website. When a visitor clicks on that link they go to the vendor’s sales page where, if they buy, you get paid the commission assigned to that product.

2. Get Your Domain Name

Before you setup your website you need to get a domain name based around your niche. For example, fastgoutcure.com, weightlossforseniors.com. Get the idea? This will become your website “address.”

Two of the most popular domain registrars are “GoDaddy” and “NameCheap.”

3. Get Hosting

Next, you need to get hosting for your website. This is where all your website files will be stored and secured. When someone enters your domain name in their browser they will be directed to your website.

There are very many web hosting companies out there, but you can’t go far wrong as a newbie by going with “HostGator.”

4. Set-Up Your Website

You then need to set-up your website. This needs to be highly relevant to, and laser-focused on, your chosen niche and product. For example, having a website about “arthritis” and trying to promote a product that cures “gout” will neither rank well in the search engines nor make sales.

Although gout and arthritis are linked medically, most people don’t know that, so they’ll be searching for “arthritis” solutions or “gout” solutions and Google will present webpages on their search results that reflect that. So always stay laser-focused!

You need a platform or specialist software to build your website. The most popular platform today by far is “WordPress” which is free. Most good hosting companies like HostGator allow you to select WordPress directly from within your hosting control panel in just a couple of clicks.

5. Add Great Content

There’s a saying in marketing that “content is king!” I like to say that “GREAT content is king!” So the content on your website has to be highly relevant to, and laser-focused on, your niche, such that your site visitors get great value (and know they great value) from it.

For example, if your site is about “gout” you write content about what causes it, its symptoms, how it’s diagnosed, how it’s treated, any natural remedies, any specific diets, lifestyle changes, and so on. Give top tips, some recipes, the latest studies, news, etc. That is, keep adding “value.”

6. Drive Traffic (Visitors)

Now, you can have the best website in the world, the best product(s) to promote that will definitely, absolutely, help your target audience; but, if nobody ever lands on your site, you might as well not have bothered!

So getting visitors (called “traffic” in Internet marketing) to your website is absolutely critical to your success and to helping all those people who are desperately searching for a solution to their problem.

There’s basically two ways to get traffic; “pay for it” or “get it free.”

Paid traffic is things like advertising on other niche websites, Google, Bing, Facebook, etc. You can also pay people who have large email lists in the same niche as you to send out a promotional email of yours to their list.

But paying for traffic may not be the best option when starting out because you really need to know what you are doing because it’s very easy to get “burnt” when you don’t.

Free traffic comes from things like Search Engine Optimization (SEO) which is the art of getting your website on page 1 of Google, Bing, and other search engines.

You can also get tons of free traffic from posting great content (with links back to your site) on Social Media platforms like Facebook, Twitter, Instagram, Pinterest, etc. When people click on your link they end up on your website.

You can produce simple, short, YouTube videos that can drive traffic to your site via your site link in the video description.

One very popular way to drive free traffic to your site is to post comments on blogs and forums in the same or similar niche to you.

Another very simple way to get free traffic is by publishing short articles in Article Directories such as EzineArticles. The article you’re reading right now is an example of this technique.

This also has the added benefit that other website owners in your niche are allowed to copy and publish your article on their sites, but they must leave your website link intact so that you can get free traffic from THEIR site too!

So, here’s your affiliate marketing checklist:

1. Choose Your Niche and Product

2. Get Your Domain Name

3. Get Hosting

4. Set-Up Your Website

5. Add Great Content

6. Drive Traffic (Visitors)

If you’re a beginner to affiliate marketing don’t be overawed by all this; it really is very easy to get going. Anybody, and I mean anybody, who has an Internet connection and a computer or laptop can be up and running, ready to start taking commissions, in as little as 48 hours. And all without any previous experience.

Advantages of the Online Auction Business Model

Online auctions have become a popular way for many people to make money. The online auction business model includes one party that sells products and services, while another party bids to purchase them.

There a number of advantages of this online auction business model. A few of them are listed below.

No geographical limitations: This is a strength of the online auction business model that is inherent by the fact that it is “online.” The Internet allows sellers and bidders to participate in online auctions from anywhere in the world. A seller in Japan can put up a doll on an online auction site that can be bid on by bidders that reside in the U.S. The “cost” of participating in an auction is essentially zero. This advantage also increases the number of products and services that can be listed, leading to an increased number of sellers and bidders.

No time constraints: Items can be posted on auction sites at any time of the day, and bids can be made on items any time of the day as well. And since items are listed for usually one to 10 days, potential bidders have a lot of time to ponder their bid.

Many bidders: Since online auctions allow for the potential to find a wide variety of items at lower-than-retail prices, it draws many consumers to try their hand at getting a bargain through an online auction. The ease of the bidding process also attracts consumers, who can bid from their computers in the comfort of their own home.

Many sellers: On the other hand, the potential to sell items at higher-than-retail prices also draws many sellers. Selling their items through online auctions also reduces their selling costs, and is also very simple and easy to do.

Joy of winning: Part of the fun pertaining to the entire bidding process is seeing whether or not you will “win” the auction and get the desired item. This aspect of the online auction process attracts many bidders who find the win just as rewarding as the