Articles written by: Michael Lipsey

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Michael J. Lipsey, President of The Lipsey Company, is nationally and internationally recognized as the leader in training and consulting for the commercial real estate industry. Mr. Lipsey's keen insight into the business of commercial real estate spans over twenty-five years of active involvement in the industry. Courses such as Team Brokerage; Presentations Plus; Winning Assignments; Performance Leasing; Time Management; Quantum Sales and Leasing; Systems for Success; Tenants or Guests – Brokers or Clients; Leadership in Sales & Leasing; Creating Value: Leadership in Service Delivery; Negotiate to Win and Financial Literacy have helped establish him as one of the outstanding trainers in the United States and abroad. As this industry's leading trainer and consultant, few people affect the day-to-day sale, lease and management of the commercial real estate industry as does Mike Lipsey, whose meaningful programs and practical solutions provide immediate and measurable results.

Successful Trade Organization Networking for Commercial Brokers

A valuable source of untapped networking opportunities for commercial real estate brokers is trade associations. Becoming a member of a local trade association can prove to be a valuable resource and a viable part of your network as you establish yourself as the real estate expert for their specific needs. More than likely, existing members of the trade association are all members whose area of expertise is directly related to the industry. By becoming a member and establishing yourself as the real estate expert for their association, you will not only be able to provide valuable insight into the real estate issues relative to their industry, you will ultimately be looked upon as their real estate adviser, from which fee service and transactions can result.

For example: If you are a broker of retail space, it would naturally benefit you to participate in the local Restaurant Association. How? Simple: Food courts provide space for parasite locations such as fast food outlets in regional malls and strip centers. Parasite stores provide a guaranteed high traffic area with a small rental space. Local members of this useful trade association are usually the owners/franchisees that make the final decision in the site selection, and a working relationship with them could mean untapped sales from an unlikely source.

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Preparing for Property Tours

Office building lobbyMany of us look at building tours or site visits as a mere formality; a quick run-through before the prospect signs the lease.   But if that were true, then the ratio between the number of tours you conduct and the number of leases you sign would be 1:1.  While you may achieve that ratio on the odd occasion, it is not a standard benchmark.   So, where, exactly, is the disconnect?

The solution could be as simple as looking at building tours in a different way in order to maximize their full potential.   There is no overstating the importance of an on-point, customized building tour.   Charts and graphs, facts and figures are one-dimensional.  A building tour is a living, breathing, three-dimensional visual aid complete with sound, sights, textures, smells, and if you’ve provided refreshments, even a taste of its own – it’s a brief but memorable sample of what it would be like to be a client in that building.

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