4C — June 24 - July 14, 2016 — Mid-Year Review — M id A tlantic

Real Estate Journal

B rokerage By John Crampsie, NAI Summit The new breed of brokerage professionals


information no longer being a major competitive edge, brokers have had to refocus their efforts by approaching the business with a consulta- tive perspective. Here are just a few ways the new breed of brokerage professionals are leading the industry’s service revolution: •Strategic planning Before an effective real es- tate solution can be devised, a broker must understand their client’s business plan. What their growth objec- tives are, where their labor is coming from, how they can compete more effectively…

to cope with the changing market, successful brokers have adapted to their clients’ needs by adhering to a more consultative approach to their real estate business. At NAI Summit , we’ve seen the change coming for several years and have em- braced it. We view our role as first being a value-added advisor to our clients and secondarily providing the tools necessary to manage an effective real estate transac- tion. It is only through the understanding of a client’s business plan that a broker can devise an appropriate

real estate solution. The old model of showing space and hoping for a fit is long past. An emphasis on continued training and education within the real estate profession must be maintained in order to ad- vise clients on all areas of importance in the real estate process. One of the biggest changes that has emerged in our in- dustry is the accessibility of information. All brokers and most tenants now have easy access to rental rates, avail- abilities and new develop- ment projects. With market

n one of the most profound changes affecting the com- mercial real estate indus-

all issues that a broker must factor into a space plan. A trend we have seen during the first half of the year is tenants wantingmore quality for less money. This provides another obstacle in regards to overall strategic planning for the client. •Understanding the cli- ent’s business Advise clients on what the real estate trends are in their industry and how they can maintain a competitive edge. Unfortunately for our area, this has become increasingly difficult due to lack of inven- tory in space, especially in the industrial market. You never want to tell your clients what they need and want isn’t available, but it seems more this year, that’s the case. That’s where the next subject comes into play…. •Creative solutions Whether a company is downsizing or upsizing, a broker must create a real estate solution that meets each client’s unique needs. What incentives are being offered and what the right terms should be are all fac- tors considered by the effec- tive broker. •Effective negotiating Once all of these factors are considered, the broker can do what they do best; negotiate a successful, customized real estate transaction. What has become a consistent trend this year is the length of lease terms. Many companies do not wish to sign a long term lease and would prefer a shorter term, with certain exceptions of course. This can sometimes provide difficulty for the broker during the ne- gotiation period since owners want long term leases. At NAI Summit, we truly believe that the combination of these key items lead to a successful client experience and outcome. In challenging times as well as boom times, the new breed of brokerage professional is more capable of being a value-added, trust- ed advisor to a client by tak- ing a consultative approach to the business. Our philosophy has always been driven by a client-focused, relationship- oriented approach. Today, more than ever, we must prove our value to our clients by focusing more on strategy and less on selling. JohnCrampsie, SIOR is a principal at NAI Summit. n

try, today’s s u c c e s s f u l b r o k e r a g e profession- als have seen their roles unde r go a d r a m a t i c transforma- t i on . Th i s

John Crampsie

trend has been in the mak- ing for several years, but has really taken shape during the current market cycle, as corporations have had to re- focus their business strategy

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