The field of commercial real estate (CRE) is a highly complex one within the overall property market. Those who are successful in this field, like Dean Kirkland WA, tend to focus on one area of work. The main areas are:
- Property types, such as industrial, retail, or office.
- Property services, such as management, leasing, or sales.
- Property development, which is what Dean Kirkland is involved in.
The reason why specialization is so important, is because CRE is so wide and complex. So what is expected for a good CRE agent, be that in Vancouver or in Washington, or anywhere else in the country for that matter?
The Right Skills
A good CRE agent should know more about the local leasing and sales deals that anyone else in the locality. This means that they also have links to the various other professionals involved in CRE transactions, such as bankers, tenant advocates, financial consultants, valuers, accountants, and lawyers. They set themselves apart as being the go-to person for any issue, and pride themselves on being able to resolve problems straight away.
According to Dean Kirkland, having a strategic mind is equally important. It is not possible to apply knowledge if there is no strategy in place. This way of thinking is what brings real value to clients, while at the same time making agents more confident in their work.
Furthermore, good agents have knowledge of specialized information. They know what developments are happening, what costs are associated with that, what deal are being made, and more. They are true data analysts, focusing in a systematic way on the market so that they develop quality transactions.
Essential Processes of a CRE Agent
A good CRE agent follows a number of guidelines in terms of the essential processes within their job. Those are:
- To have a clear, daily plan to meet all the activities needed to build the business.
- To understand how they are paid, which varies depending on the type of CRE agent they are.
- To have excellent communication channels in place between clients and prospects.
- To properly document all their work, thereby minimizing or even eliminating errors.
- To be focused on and energized by daily tasks.
- To have a mission mentality.
- To embrace that they are the deal-makers.
Key People and Players in CRE Transactions
Finally, Dean Kirkland feels that it is vital that there is an increased understanding of the key players involved in the world of CRE. Those are:
- The owners of the property.
- The tenants and business proprietors.
- Quantity surveyors.
- Property surveyors.
- Builders and developers.
- Banks and lending institutions.
In order to be a good CRE agent, it is important to have solid relationships with all of the key players listed above. They are the team that surrounds a good deal and a good transaction. Again, the agent is the go-to person, so they are in effect the hub that encourages communication between each of these players within a transaction.