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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. |
Communication = Trust; Trust = Efficiencies
The world of commercial real estate lending is really weird these days. No one is happy and no one is talking. Oh, there's lots of words flying around, but it seems everyone is so uncertain of where the financial markets are or where commercial real estate investments are heading, there's very little useful dialog. Borrowers are screaming about lenders and lenders are screaming about borrowers. When trust goes down, people stop talking...and it's why things go sour. So be careful of only "talking" via text, i.e. emails or other electronic methods. Trust is really important - really, really important. Why? Remember Dr. Mehrabian's research which provided the basis for the widely quoted statistic for the effectiveness of spoken communications.
- 7% of message pertaining to feelings and attitutdes is in the words that are spoken;
- 38% of message pertaining to feelings and attitudes is in the way the words are spoken;
- 55% of message pertaining to feelings and attitudes is in facial expression.
Some people argue that these facts get skewed quite often because they weren't meant to say that all communication falls in these percentage silos. Of course, not all communication falls into these percentages; only those communications that include feelings and attitudes. Well, I don't know about you, but I believe feelings and attitudes are a huge part of all communications. And before you judge that last sentence because I'm female (and it goes with the territory), why do we have emoticons? So I'm ok with the percentages as they are. And I'll go so far as to say the way I see it is we get only 7% of meaning from the words that are spoken (typed), and a full 83% from the way we say things.
But things are what they are and more and more of our communication is in text. So when you can't talk, what can you do? Have a great system of communication. Use your computer and other physical systems wisely. Keeping people in the loop. Showing others that you have good process for how you communicate, particularly if it has to be "text", is vital. Have great mechanisms for storage and retrieval of communications and documentation. Be able to show that there is protocol for the "communication". Assume that you won't have the luxury of trust and learn how to communicate within electronic messaging for the best results. Be precise and accurate...it not only builds trust, but will save you from having your communications and messages ignored by that half of the population that has AADD - Adult, Attention Deficit Disorder. Having accepted ways for communication flow and documentation of that communication will make things work for people who think by talking and people who think by doing.
Remember, whenever there's uncertainty, people act strange. Today we need all the tools we can to curb inconsistent communications. Trust me! | |
Sales/Marketing Tip
At some event, eating nondescript hotel-chef prepared Hors d'œuvres, wearing a paper name tag on my right lapel I was entertained by a friendly and very serious gentleman who with a perfectly straight face intoned, "Our company does not really have salespeople." Both because I found this idea striking in its extreme unlikeliness and because my mother didn't raise any fools, I feigned only mild surprise murmuring, "How so?" He explained that each partner was expected to do a little marketing only, that actual selling was not required and would, indeed, be inappropriate for people in his profession. I suspect that many share his view. I don't.
Call it what you will but, in my view, every company employs at least one person in the sales capacity. One needn't take my word for it either. It's easy to prove. Simply examine the very first line of the company's income statement. If that line lists an item called "sales" voila! Somebody is a salesperson. Just to the make sure that the point hits home the second line is an item labeled "cost of goods sold". Once again our friends, the accountants, lead the way, speaking truth to power.
Of course, by this measure (and what other could there be?) every company has salespeople. For without a top line all the other lines become decidedly no fun. So why the dissembling, obfuscation, disavowal, pretended high-minded twaddle and other verbal sleight of hand that seeks to misdirect us by referencing "business development", "client acquisition" and "marketing" when what one is really referring to is "sales"? Who is the salesperson here and why aren't they darn proud of it? Let the others lay claim to the expenses. Make my number positive!
And why, in particular, do salespeople so often claim to be engaged in marketing. Marketing is, goodness knows, totally cool. But what discipline could be farther removed from sales? After all, marketing is an expense and sales is revenue. Negative and positive. Antimatter and matter. Yin and Yang. Rocky and Bullwinkle. Both are important but, nonetheless, polar opposites.
You can hear the difference in their respective cries. The marketer says, "Let's identify our prospects, craft an enticing message and deliver it in the most seductive of packages frequently so that in the fullness of time they will notice us, grow to want us, begin to yearn for us and then they will be ours!" The salesperson says "The heck with that. Let's call them now!"
Somewhere along the line a lot of us clearly got the message that "sales" is a dirty word. Today's economy will be a little bit unkind to those who insist on cherishing that conceit. In 2009 denial will not just be costly. For many it will be fatal.
Sometimes the best learning is unlearning.
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. |
Hot Deals/Leads
Village Supermarket, Inc. trades as ShopRite at 25 locations throughout NJ and PA. The supermarkets occupy spaces of 65,000 sq.ft. in freestanding locations and strip centers. Growth opportunities are sought throughout NJ during the coming 18 months. For more information, contact William Sumas, Village Supermarket, Inc., 733 Mountain Avenue, Springfield, NJ 07081.
Big Saver Foods operates 16 locations throughout CA. The grocery stores occupy spaces of 20,000 sq.ft. to 40,000 sq.ft. in freestanding locations, urban/downtown areas and power and strip centers. Growth opportunities are sought throughout southern CA during the coming 18 months. Typical leases run 20 years. Preferred demographics include a population of 100,000 within two miles earning $30,000 as the average household income. Major competitors include R-Ranch Markets. The company prefers to locate in areas with high foot traffic and vehicle traffic counts. For more information, contact Ukabhai Solanki, Big Saver Foods, 4260 Charter Street, Vernon, CA 90058.
Subway operates 29,386 locations nationwide and internationally. The sandwich shops occupy spaces of 800 sq.ft. to 2,000 sq.ft. in freestanding locations and entertainment, lifestyle, power, specialty and strip centers, in addition to urban/downtown areas. Plans call for 10 to 12 openings throughout Rockland County in NY during the coming 18 months, with representation by Royal Properties, Inc. Typical leases run 10 years. A vanilla shell is required. For more information, contact David Landes, Royal Properties, Inc., 850 Bronx River Road, Bronxville, NY 10708.
Manchu Wok, Inc. trades as Manchu Wok at 200 locations nationwide and internationally. The Chinese restaurants occupy spaces of 500 sq.ft. in food courts. Growth opportunities are sought throughout Orlando, FL; Chicago, IL and Dallas, TX during the coming 18 months. Typical leases run 10 years. A vanilla shell and specific improvements are required. Preferred demographics include a population of 100,000 within five miles earning $45,000 as the average household income. The company is franchising. For more information, contact Joycelyn Wiley, Manchu Wok, Inc., 85 Citizen Court, Unit #9, Markham, Ontario, Canada L6G 1A8.
Aldi operates 1,000 locations nationwide. The supermarkets, offering meat, produce, dairy, frozen foods, beer and wine and bakery departments, occupy spaces of 16,800 sq.ft. in pad sites, inline spaces, endcaps and development lots. Growth opportunities are sought throughout NJ and eastern PA during the coming 18 months, with representation by Fameco Real Estate, LP. Preferred demographics include a population of 35,000 within three miles. The company will consider ground leases and acquiring sites. .For more information, contact Rick Weinberg or Ed Enoch, Fameco Real Estate, LP, 633 West Germantown Pike, Suite 200, Plymouth Meeting, PA 19462.
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. |
Featured Internet Site of the Week
Qipit
Copy documents, whiteboards and handwritten notes with your camera phone or digital camera to store, fax, email or publish! www.qipit.com | |
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