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TOP OF THE WEEK TO YOU!
(by realwired! CEO, Brenda Dohring)
Top of the Week to You! is designed to offer the inside scoop and latest of what's important in the world of technology as it relates to the commercial real estate industry. |
The Secret of Real Estate Connections
As we enter the second month in 2009 we can't turn anywhere without being reminded that this is not going to be one of our best years...or is it? As many of you know, I belong to CREW - Commercial Real Estate Women. I not only belong, I actively belong. Once again, as I attended one of their national leadership meetings this past week and a local meeting just yesterday, I was not just impressed but blown away by how they connect to do business. The local meeting had a panel talking about bad commercial real estate loans, workout deals, valuation issues and the down market. There were more than 120 attendees who all reached in their wallets to attend and the mood was upbeat because everyone was centered on the opportunity this market presents. Admit it. It's not easy to go to an industry meeting these days. The popular conversation tends only to be centered on how bad the real estate and finance markets are. Well you know what, that isn't the case at a CREW meeting. Really! While these women (and some really smart, strategic men) sure don't take a blind eye to the market, they aren't simply lamenting. They're problem solvers and actually seem to be enjoying the challenge. As they navigate through the first quarter of 2009, they seem to intuitively know it is more important than ever to spend time on establishing, nurturing and building relationships. And as I share with you what I have learned about how they do it, know that they rely heavily on all the typical technologies to stay organized and in touch; email, voice mail, electronic contact managers, texting and social network sites.
Here's what I know they do for sure. They are always working on building relationships, no matter what the economy. It comes naturally to some people and takes more effort for others, but they just do it and recognize that it's more important than ever and critical for success. What's their big secret? They focus on finding out what the other person needs. While some people are still focusing on the old cliché, "think outside the box," they know the key is to think outside yourself! Focus on someone else's needs. Too many people focus only on their own needs. Successful people focus on and help solve the problems of others. They are diligent in tracking who they've met, their interests and more. It's like party planning to them. They get jazzed by seeing the connections they've created, not just for themselves but for others. Their database of names and contact information are used daily.
So your action item after reading this is to make sure you have a great system for tracking "relationships". I don't mean any disrespect, but Outlook isn't good enough. If you want some tips on what you should be using, I'm happy to give some recommendations. Just shoot me an email. The secret is following this old proverb, "Dig your well before you're thirsty." And, if you can, make sure your contact database is loaded with commercial real estate problem solvers, not whiners. CREW might be a good place to start the "search and download". |
Sales/Marketing Tip
The Conversation We all retire. It's something to look forward to. Retirement should be saved, however, until we no longer need to earn money. In sales it's oh so easy to retire on the job. After all, we make our own schedules. We come and go as we please. We can take long lunches if we want to. And best of all, when we've had a couple of good years back to back we can often live for quite a while on the fruit of past successes.
"I've finally got it." We've all had the thought. "I'm a master of the sales craft. Everyone with whom I speak, buys". We might have uttered these or similar words, bragging about how we no longer really needed to make cold calls. Why, we'll live on referrals!
But bubbles burst. Booms go bust. Times change. And what "could never happen again", does.
How many salespeople wake up one day at some leads group realizing that they have just spent a year eating donuts with a bunch of people who have neither money nor influence? They could have got the same "leads" from a phone book.
How many lose a big account and then another, both losses not their fault and yet with those losses half their income goes out the window?
Change jobs and the accounts don't follow you. It comes as a shock.
"I'm not a rookie. I shouldn't have to prospect." (Said with indignation). The ethical imperative is seductive but irrelevant. Businesses and markets change. Relationships evaporate. Capitalism, the salesperson's friend, is heartless, favoring only those who remain fit and very, very wary.
When the fall comes (and it will) we'll need all the skills we ever had. We'll need all the energy that we can muster. And we'll need some friends as well.
The skills of great salespeople quickly rust. Abraham Lincoln famously said, "If I had six hours to chop down a tree, I'd spend the first four hours sharpening the axe". We've all heard the quotation. How many of us act on the words?
And what about the energy to swing the axe? Well, that's no small problem either. Come in late and spend the morning answering emails. Maybe when the economy is strong. Not today. Today we might just need the stamina to make a hundred dials.
It's a little dark now and you may be wondering if you can do it alone. I hope that you don't have to. The best and the brightest have worthy fellow travelers. They have friends to help them sharpen. They have friends to bolster their courage. They stay in the game and learn from every experience. They don't forget how quickly we all forget.
They keep the conversation alive.
Mark Fitzgerald, Sales Training Institute, Inc., Tampa, Florida provides this column weekly. Mr. Fitzgerald provides both group and customized sales training for professionals and companies. For more information, please contact him by telephone at 813-831-5555, via email at mark@saleskills.com or visit www.saleskills.com. |
The Rice Garden, Inc. trades as The Rice Garden at 63 locations throughout AZ, CA, KS, IL, MO, NM, NV, TX and UT. The Chinese restaurants occupy spaces of 500 sq.ft. to 2,000 sq.ft. in malls, endcap spaces, streetfronts and on university campuses. Growth opportunities are sought throughout the existing markets during the coming 18 months. Preferred cotenants include Target. Typical leases run for terms of 10 years or five years with a five-year option. A vanilla shell and tenant improvement allowance are required. Major competitors include Panda Express. For more information, contact Hon Lung Siu, The Rice Garden, Inc., 2121 West Mission Road, Suite 301, Alhambra, CA 91803; Web site: www.thericegarden.com
Pizza Patron Restaurants operates 99 locations throughout AZ, CA, CO, FL, NV and TX. The restaurants occupy spaces of 800 sq.ft. to 1,500 sq.ft. in endcaps with drive-thru facilities in downtown/urban areas and community centers. Plans call for 30 to 35 openings throughout the existing markets during the coming 18 months, with representation by RTS Real Estate. Preferred demographics include a population of 60,000 within three miles earning $30,000 to $55,000 as the average household income. Convenient parking, high visibility and street exposure are required. Preferred cotenants include grocery stores and video stores. The company is franchising.For more information, contact Marsha Schneider, RTS Real Estate, 10999 Petal Street, Suite 102, Dallas, TX 75238; Web sites: www.pizzapatron.com or www.rtsrealestate.com.
Ram International trades as Ram Restaurant & Brewery at 28 locations throughout CO, ID, IN, IL, OR, WA and WY. The casual dining restaurants occupy spaces of 7,000 sq.ft. in endcaps, freestanding locations and strip centers. Plans call for one opening throughout the existing markets during the coming 18 months. Preferred demographics include a population of 150,000 within three miles earning $70,000 as the average household income.For more information, contact Jeff Iverson Jr., Ram International, 10013 59th Avenue Southwest, Lakewood, WA 98499; Web site: www.theram.com
Schiano's Enterprises, Inc. trades as Schiano's Italian Restaurant at 17 locations throughout NC, NJ, NY and SC. The Italian fast-food restaurants occupy spaces of 600 sq.ft. to 2,400 sq.ft. in freestanding locations, malls and strip centers. Growth opportunities are sought throughout NC and SC during the coming 18 months. Typical leases run for terms of five to 10 years with options.For more information, contact Frank Schiano, Schiano's Enterprises, Inc., 7201 Two Notch Road, Columbia, SC 29223
See's Candies, Inc. trades as See's Candies at 440 locations throughout the western US, including permanent and seasonal locations. The stores, offering candy, boxed chocolates, nuts and confections, occupy spaces of 1,000 sq.ft. to 1,500 sq.ft. in lifestyle, neighborhood and strip centers. Plans call for six to seven openings throughout the existing market and Chicago, IL during the coming 18 months. For more information, contact Mary Diamond, See's Candies, Inc., 210 El Camino Real, South San Francisco, CA 94080; Web site: www.sees.com.
Like these leads? Want more? Go to the Dealmakers website for a FREE Trial subscription to The Dealmakers, the nation's weekly news source on retail real estate. |
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