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July 15, 2009
Volume 10 - Number 28
Streamlining the Business of Commercial Real Estate
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In This Issue
Back Up to the Summit
Sales/Marketing Tip
Hot Deals/Leads
Featured Internet Site
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TOP OF THE WEEK TO YOU!
(by realwired! CEO, Brenda Dohring)BDH Photo
 
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.
Back Up to the Summit
Let's take a minute at this mid point in 2009 and reflect.  As we look back 2009 it will no doubt be seen as one of the toughest economic years many of us has every experienced.  But many of you will take pride in knowing that you used this year to not only help sharpen your skills, but you've helped your clients and your community sharpen theirs, so everyone is best positioned as we climb up the "recovery hill" which most predict is the long haul of 2010.  You'll take pride in knowing you helped form the base to be even better when we reach the top, so the next era of prosperity will be even longer than the last.  You'll take pride knowing that you've shown that 2009 is the Year of the Collaboration; a year of working together. 

And how did we do it so far?  We shared electronically or digitally.  And not just in our business lives of email, which is many times the most annoying form of communication, but through the social, digital world that is emerging stronger and stronger.  So this time, as we climb back up to what I know is a summit that will look different than any before, we will be doing it faster and stronger because of the digital communication that took place.  And for the most part we haven't even seen it happen and that's the best part.  The digital communication that creeps in is the best.  Its stealth behavior is a true benefit.  We all adopt to things the easiest if we don't have to think about "adoption".  It just happens.  It slowly enters our everyday behavior because it's useful.  And that's what's happened.  Collaboration in our industry is something I've been passionate about for years.  But let's be real, we don't do a good job of it, particularly in the brokerage and lending areas where most people are paid on some type of commission.  While that means you have to "cooperate", most don't collaborate. 

But this downturn feels more collaborative.  It feels more cooperative.  It feels that way because it is both of those things and more, because of our ability to communicate digitally.  That didn't happen during the last major downturn of the late 80's and early 90's, and it will be fascinating to see how this plays out.  I'm absolutely certain that things will move faster than we think.  All one has to do is look at how fast the financial markets fell last fall, to predict how fast the commercial real estate market is going to fall and then rebound.  With an estimated $90 billion in commercial real estate in the U.S. classified as "distressed," and hundreds of billions more in debt coming due in the next few years, it's going to be an easier climb to the summit for those who have gotten smarter and stronger during the first half of 2009.  Those on a constant quest of listening and learning, blogging, twittering and reading the vast amounts of information on line  will be able to proudly say they were part of the solution and that helps everyone!

So for the rest of 2009...Stay strong. Stay committed.  And Stay Connected.   It seems the summit is coming into focus.
Sales/Marketing Tip
Liver Damage
I recently heard it said that, "one in three people who die of heart attacks never show any symptoms." The thought, "other than death, of course" immediately sprang to mind. While this rather dramatic symptom is obvious to the rest of us, the victim is presumably unaware. The business adventure can be quite similar in that the expiree may be the last to know. Some, like GM, continue to respire with the aid of governmental (read: your hard-earned tax dollars) life support. Others consume the family savings account. Walking-dead salespeople live on draws or salaries until management wises up. Sometimes this takes a while, but sooner or later it happens. The financial statements don't lie.

There are zombies (or as the West Indians call them, jumbies) among us. Times are ripe for business expiration. A little sales health checkup is in order. Fortunately, the symptoms of decline are usually fairly easy to detect. They include too few appointments, growing accounts receivables and ever-longer sales cycles.
 
The sales colds that, left untreated, turn into the deadly business flu are easy to catch. Bird Brain flu is endemic. Sufferers spend hours typing to each other in the delusional belief that they'll socially-network their way into real business. (Not even the OWNERS of Twitter have figured out how to make money with it). The other day I came across a "marketing expert" who lamented that CEOs haven't caught on to social networking. Hello. CEOs don't spend their days typing. They have real work to do. Look up the word "executive". The vast majority of business Facebooking and LinkingIn is call reluctance, pure and simple. Got the bug? Get help before you have lots of "friends" but no money.
 
For a near-term boost in sales, effective treatments are known. Concentrating on selling one's higher margin lines usually takes less time (quality conscious buyers shop less) and yields better profits. Allocating significantly more time to direct prospecting (yes, I mean cold-calling and very targeted networking with real decision makers, not other salespeople) will result in more and better appointments now. Timely advice: To paraphrase Mr. Robinson, "one word, telephone".
 
And finally: a warning about BSDS (business sudden death syndrome).  Many are maintaining their heads-above-water status by nursing along one or two large accounts. If you're in this camp your peril may, indeed, be symptomless. Rest assured that you're a business skipped heartbeat away from resting in peace. Acetaminophen won't begin to address the headache you'll face if they should leave you. Besides, it causes liver damage.
 
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 
Dolly's Pizza Franchising trades as Dolly's Pizza at 30 locations throughout MI and NC.  The pizzerias occupy spaces of 1,200 sq.ft. in strip centers.  Growth opportunities are sought throughout MI during the coming 18 months.  Typical leases run five years with options.  A vanilla shell is required.  Preferred cotenants include drug stores and video stores.  Preferred demographics include a population of 15,000 within three miles earning $40,000 as the average household income.  Major competitors include Papa John's, Pizza Hut and Domino's Pizza.  For more information, contact Robert Lewis, Dolly's Pizza Franchising, 1097 Union Lake Road, Suite B, White Lake, MI 48386.

Golden Corral Corp. trades as Golden Corral at 475 locations nationwide throughout 41 states.  The family-style buffet restaurants, offering pasta, pizza, fresh vegetables, a salad bar and carved meats, occupy freestanding locations situated on a land area of two to three acres.  Growth opportunities are sought nationwide during the coming 18 months.  Preferred cotenants include big box retailers.  The company is franchising.  For more information, contact Gordon Poulsen, Golden Corral Corp., 5151 Glenwood Avenue, Raleigh, NC 27612.
 
Gosh Enterprises, Inc. trades as Charley's Grilled Subs at 385 locations nationwide and internationally.  The restaurants, offering grilled steak, chicken and turkey sandwiches, salads and gourmet fries, occupy spaces of 600 sq.ft. to 2,000 sq.ft. in freestanding locations, regional enclosed malls and entertainment, lifestyle, power, specialty and strip centers, in addition to urban/downtown areas.  Plans call for 60 openings nationwide during the coming 18 months.  Typical leases run 10 years.  A vanilla shell is required.  The company is franchising.
For more information, contact Larry Payne, Gosh Enterprises, Inc., 2500 Farmers Drive, Suite 140, Columbus, OH 43235
 
Carter's Retail, Inc. trades as Carter's Childrenswear at 261 locations and as Oshkosh B'Gosh at 165 locations nationwide. The stores, offering apparel for infants and young children, occupy spaces of 4,000 sq.ft. to 4,500 sq.ft. in lifestyle, outlet, power and tourist centers. Growth opportunities are sought throughout the existing market during the coming 18 months. Typical leases run 10 years with two, five-year options. A vanilla shell is required. Preferred cotenants include DSW, Marshalls, Bed Bath & Beyond, Justice, Famous Footwear, Kohl's, Old Navy, Target and T.J. Maxx. Major competitors include The Children's Place, Gap Kids/Baby Gap and Gymboree. Preferred demographics include a population of 150,000 within five miles earning $75,000 as the average household income. For more information, contact John Clevinger, Carter's Retail, Inc., 1170 Peachtree Street Northeast, Suite 900, Atlanta, GA 30309

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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