In case you couldn’t make our live webinar about What Residential Agents Should Know About CRE Deals with Troy Muljat last week, we’ve got the rundown for you right here at myNOI. In part 1 of our 4 part series, Troy discusses the importance of understanding your client’s goals!
Are you a residential agent considering on making the switch to commercial real estate? Having over 25 years of experience in the field, our very own Troy Muljat has a few tips all residential agents should know before making that leap over to the commercial real estate side.
Here’s the thing, residential real estate and commercial real estate are quite different. They both require a great deal of work, but the work required for a commercial real estate broker can be quite tedious and require a great deal of effort from you to learn and continue to learn about the market and how it continues to change over time.
So join us on our 4 part blog series, where we’ll break down the 4 things residential agents need to know about being a commercial broker from our very own Troy Muljat.
#1. Understand Your Client’s Goals
Understanding your client’s goals right off the bat is key to conducting any successful real estate transaction. Be upfront with your clients, ask them what their wants, needs, and expectations are. Doing so, not only gives you an overview of what to expect in terms of work, but it also allows you to better prepare yourself and provide your client with a detailed and tailored service for their specific goals and needs.
It’s essential that not only you know, but that your clients know that you are their real estate financial advisor, their goals are your goals. Don’t forget that. Your job is to inform your client with all the facts, all their options, tell them where the value is in the current market, and where their investments will be best suited.
Before jumping the gun and compiling a list of potential properties for your client, understanding where they stand and what their end goals are will make your job that much easier. This requires you to go the extra mile, do your homework and continue to do your homework throughout your relationship with this client and throughout your commercial real estate career.
Join us in the following weeks for more on What Residential Agents Should Know About CRE Deals. Next week we’ll tackle the 4 main asset classes involved in commercial real estate and why it’s important for new commercial brokers to understand each and their current role in the market.