4 Skills You Need to Have to be a Successful Commercial Real Estate Agent
3 min read
Becoming a commercial real estate agent is not as easy as it seems. It takes a unique combination of skills to give you the competitive edge to succeed. Standing out as an agent in Toronto's already competitive commercial real estate market can be achieved. All you need is; the right goals, the right tools and the right mindset.
We're sharing four vital skills that will help you navigate the world of commercial real estate and make you a top agent along the way.
1. Market Knowledge
There's no doubt that the commercial real estate market is constantly fluctuating. That is why staying on top of market trends and what sectors perform better than others will help you achieve your business goals. Potential buyers and investors want an agent who knows the biz's ins and out, making it vital to delivering the news they want to hear- the good, the bad and the ugly. Trust us; it will help you stand out from the competition.
2. Understanding of Mathematics & Economics
Yes, you read that right. Having a general understanding of mathematics and economics can be more beneficial than you think. Calculating ROI, capitalization rates, reporting, and analyzing are just a few things commercial real estate agents do daily. Mastering this skill will help you outshine your fellow agents.
3. Negotiation & Persuasion Skills
As a commercial real estate agent, negotiation during the transaction process is expected. It is often rare that two parties find a middle ground right off the bat, so it is vital to handle the negotiation process effectively and know when it is the appropriate time to tap in on your persuasion skills to get the deal done. Mastering the art of negotiation starts with an effective strategy.
4. People Skills
Having people skills is one of if not the most important skill to have as a commercial real estate agent. People like dealing with an approachable agent just as much as they are knowledgeable. Keeping a positive yet respectable demeanour will help you craft a memorable presence.
Nothing can stand in your way of becoming a successful commercial real estate agent with these five skills.
Reference
7 top skills of a successful commercial real estate broker: Zoocasa. Zoocasa Blog. (2019, December 10). Retrieved April 26, 2022, from https://www.zoocasa.com/blog/7-top-skills-of-a-successful-commercial-real-estate-broker/
About Royal LePage Commercial Westhaven
Our commercial real estate industry and segment expertise coupled with Royal LePage’s national platform and integrated systems provides best-in-class real estate strategies and a competitive advantage that can’t be beat.
We help businesses identify opportunities and maximize their return on investment with actionable goals, centralized support services and a strong commitment to customer success. Our national partnerships help us establish, guide and execute successful business investments.
We offer commercial real estate agents a professional environment, focused 100% on commercial real estate. Agents can expect unlimited market boundaries to build their business without the interference of a heavy corporate structure. In addition, agents will be able to access Royal LePage’s national referral network of over 18,000 agents to develop more business in their target markets with incoming leads generated daily. The brokerage provides agents a suite of services including marketing, promotional, networking and professional development needs.
Innovation and service excellence have developed and propelled the Royal LePage brand since 1913. When you join Royal LePage Commercial Westhaven brokerage, you have the backing of one of the most powerful commercial real estate services company in Canada—Bridgemarq Real Estate Services Inc. (formally Brookfield Real Estate Services Inc.). Bridgemarq is a leading provider of services to real estate brokers and agents. They are an affiliate of Brookfield Business Partners, a business services and industrials company focused on owning and operating high-quality businesses and is listed on the New York and Toronto stock exchanges.