When looking for a home in which to raise a family, it is crucial to choose one in a suburb that not only has a great selection of homes on offer from Philadelphia real estate firms, but that also offers an extensive range of activities and venues where families are able to get out and enjoy themselves as much as possible. Below are a few suburbs that should definitely be considered by families who are looking to relocate.

East Marlborough

Although this may seem like a rather small and quiet community overall, it is in fact bursting at the seams with a host of fun activities for families to enjoy on a regular basis. As much as 25% of the population of East Marlborough is under the age of 18, making this an ideal spot for a family to purchase a home. This area is also home to the Unionville-Chadds Ford District, which is known for its array of high achieving schools. East Marlborough also boasts one of the lowest crime rates in Philadelphia, with no violent crimes taking place there over the past few years.

Lafayette Hill

With a population of just over 17,000 residents, this suburb comes highly recommended by Philadelphia real estate specialists. This is one of few areas left that possesses a true community spirit, making it an ideal place to raise a family of any size. Housing is relatively affordable in this area and there are plenty activities to keep families busy on off days. Over the past few years, less than 1 violent crime per 1,000 residents has been reported here, which means that kids can play safely outdoors in this neighborhood.


Families who are looking for as many wide open spaces as possible should look no further than this quaint suburb with its plethora of older-styled residences and shops. An extremely low crime rate coupled with an excellent school district and youth sports leagues make this the ideal spot for families to settle, grow and explore to their hearts’ content. With a population of just over 8,500 residents, Solebury is truly one of those neighborhoods where everyone can get to know each other in little to no time at all.

Medford Lakes

Nowadays, many families are looking to enjoy a slower pace of life overall, and for those who are, Medford Lakes is an excellent place to do so. A population of a little over 4,000 residents means that the atmosphere of this area is close-knit, making it the ideal location for families who enjoy spending as much time as possible exploring the outdoors. With absolutely no violent crimes taking place here, parents can rest assured that their children gain their independence by getting around town on their bikes or even walking in complete safety.

Families who are looking to purchase a home should not only consider the above mentioned neighborhoods; they should allow our team of professional Philadelphia real estate specialists to assist them in finding the perfect home.

Source by Scott Li

The team colors of the Philadelphia Eagles consisted of Kelly green, white, and silver for quite some time until it was changed in 1996. During the 1950’s, the team’s helmets had eagle wings on it which was originally silver on a Kelly green colored helmet. In 1969, there were two versions of the helmets. One with Kelly green with white wings for road games and white with Kelly green wings for home games. For three years thereafter, they wore the helmet for the home games exclusively but shifted on to wear the original ones later.

In 1974, the standard design of their helmet to be used two decades after was created and this was the original design with a slight modification where the silver wings had a white outline. The team also introduced their logo featuring an eagle carrying a football in its claws in 1969. This original logo was later changed to make it more realistic looking.

In 1996, however, both the team colors and logo were changed extremely. The Kelly green color was changed to a darker shade called the midnight green with silver practically removed from their colors. The uniform pants were either white or midnight green. The wings on the helmet were changed to white with silver and black accents. The logo of the Philadelphia Eagles was also changed with the eagle becoming a bald eagle with a white head, rendered in a cartoon-based style. The letters were also changed from calligraphic to block letters.

Ever since then, only minor changes were made with regards to jersey and pants combinations during particular games. The 2003 season was the time when the first change to the 1996 uniform was observed. On both colors of jerseys, black shadows and silver trim were added to the green and white numbering. The stripe on the uniform pants also changed to black-silver-black on the white pants from the usual black-green-black. For the midnight green pants, the color changed from a solid black stripe to a black-white-silver combination. It was also during this season that the black alternate jerseys with green shadow on the white numbers was introduced.

However, the black jerseys were considered jinxed because they lost every game they played whenever they wore those. In 2007, the team celebrated their 75th anniversary and their uniform featured a75th season logo on the left shoulder. Also in 2007, the team wore throwback jerseys in a game against the Detroit lions. These jerseys sported the colors found on Philadelphia’s city flag and were worn by the team in its inaugural season.

The Philadelphia Eagles are distinctively identified with their uniforms. Eventually, there will be changes to be introduced into their uniforms but nevertheless, the team will stay as the same team like they were when they started. Uniforms do play an important role in a game but it does not necessarily follow that this is what causes a team to lose in a game. It still boils down to strategy and talent with football.

Source by Rick Grantham

I believe most people has his or her nickname. The nickname maybe given according to one’s characteristic, appearance, shape, advantage, social status or interest. One the most priceless and invaluable NBA player Allen Iverson also has a nickname “the Answer”. Most people may feel confused about the reason about this nickname, that is what I want to talk with you guys today.

Rumor 1: Jameel Blackman who called himself as Iverson’s old buck said that “the Answer” was given by him, moreover, he wanted to take 25% of the total gains from what Iverson had benefited from this nickname. Jameel mentioned that they had known each other since 1994. Iverson’ s mum entrusted Iverson to his care, when he began to call Iverson as “the Answer”. In 1996, Iverson left from Georgetown University’s basketball team and was announced to join in Philadelphia 76ers with high honor of the No.1 pick in the 1996 draft of NBA. At that time, those young players would like to give themselves nicknames in order to be well known to their fans as soon as possible. Consequently, Iverson had to follow them to name himself a nickname. From all the candidate nicknames, Iverson finally selected the Answer to be his. Soon after, Iverson made his first tatoo “the Answer” on his arm and this nickname had made him well known to his fans from then on.

Rumor 2: It is said that everyone has known the answer that Philadelphia 76ers will win since Iverson is on the basketball court. That’s why Iverson is called “the Answer”.

Rumor 3: There is also another rumor saying that Philadelphia’s local media doubted about Iverson’s ability since he was born in a poor Black family, he was raised on the tough street of Hampton and he had a lot of youth problems. Most of all, Iverson is only 1.83m tall, what is the target of the media’s criticism. In order to show their doubt about Iverson, they named Iverson “the Question”. However, when Iverson behaved perfectly on the court of Philadelphia, almost all the sports reporters were surprised at his excellent performance, which definitely offered a strong “Answer” to their “Question”. From then on, Iverson was called “the Answer”.

Rumor 4: This nickname was given for his remarkable basketball skills. Iverson always made a crucial and critical hit on the court to end the game.

Rumor 5: “The Answer”is the homophonic of his name Iverson, so he was name “the Answer”. Anyway, Iverson keeps calling himself “the Answer”. Although nobody agreed with him at the beginning. Instead, most people only see some question of Iverson, for instance, he was often late for training, he could not deal with the relationship between his coach and him. Nevertheless Iverson never changed, the people who doubted about him began to change their opinions on Iverson and they have already accepted Iverson’s nickname-The Answer.

Source by Erika Green

Philadelphia, fondly known as the City of Brotherly Love, is the largest city in the state of Pennsylvania, in the United States. It has a population of over 1.4 million with a growth rate of 1.2% on average until 2009. This growth is considered one of the lowest in the United States, however, at the present time, there has been a small but significant influx of migrants into the Philadelphia area which has helped somewhat make the office space market in Philly stable. Philadelphia played an important role in what has become America as we know it because it was here that the American Revolution and Independence was fought for. We also list all the office spaces in Pittsburgh and the majority of local listings in: Blue Bell, East Falls, Hatboro, Manayunk, Market St., Oreland, Roxboro, Bridgeport, Chester Springs, Exton, Hanover, and Queen Village. If you need an office space elsewhere check out our office listings.

Local Economy and Companies Supporting Philadelphia:

Philadelphia’s main economic interests lie in the areas of manufacturing, oil refining, food processing, health care and biotechnology. Some prominent Fortune 500 companies that have their base here are Comcast, Lincoln Financial Group, Sunoco, Rohm and Haas Company, Wyeth and Glaxo SmithKline. Some of the federal government’s facilities are also here for e.g., the United States Mint and the Federal Reserve Bank’s Philadelphia division.

Philadelphia New Commercial Developments:

New commercial development is said to be ready to make a comeback with the economy showing signs of recovery. Many business owners are planning their strategy for expansion and new ventures. The commercial districts are poised to be ready when the businesses come back strong after the turmoil. Even the local communities have agreed to work together to make these new ventures work.

Office Space In Philadelphia Rental Rates:

Philadelphia recorded one of the lowest office vacancy rates in the nation at 10.2% despite the economic crisis hitting the whole country. The commercial office rentals faced a hard knock though with a huge dip in rentals which has been experienced across the entire country. The bad economy has affected all types of spaces like serviced units, temporary office spaces, furnished units, and even just conference rooms rented by the hour have dropped in price. Many land and building owners had to package their tenancy agreements with a lot of concessions to make it attractive for businesses. The average office rentals in Philadelphia ran from $21.65 to $24.75 per square foot in the central business areas. This trend is expected to continue right through to 2010 and even further as most experts think office spaces in Philadelphia will take a few years to recover as most companies are afraid to commit to a lease or long term office rental. For more news on the local area and other major cities check out our commercial real estate articles.

Philadelphia Crime Rates and Current News:

The crime rate here is at 54 crimes per one thousand residents. This figure is considerably low if compared to the other cities in the US of the same size and population. Philadelphia is made up of large divisions, namely North, Northeast, Northwest, West, South and Southwest Philadelphia. These areas surround the Center City. Many people like to go to the old part of the city in Downtown Philadelphia rather than the mid town as the traffic is much bearable and you can take a pleasant walk to the ‘Welcome Park’. It is the place where the government of Pennsylvania first started its administration at the Slate Roof House way back in 1701. You will also come across the City Tavern Restaurant where you will find the waiters dressed in old colonial costumes to give it an authentic quaint feeling.

Source by Pat Vedder

City planners make up the lay of the land for a geographic area , setting boundaries for city property and buildings as well dividing the land within the city limits into zones. Each zone is specific to the type of development that will be built or used for so that industrial, commercial and residential boundaries do not cross each other and people living in a quiet suburban neighborhood will rest assured that they are not have their residential peace interrupted by the building of a high rise office block or warehouse space.

Urban development is a large part of the city planning offices duties, but when builders and developers approach the city for permits and expansive build project permits it is often necessary to conduct an environmental impact study or possibly rezoning of an abandoned warehouse by the waterfront for a condominium and shopping center development. When a real estate development project requires the expertise of an attorney the developer will bring in a specialist to handle the legal questions and ramifications for the builder.

In some larger cities real estate law is a common practice for big developers and many larger construction companies and land developers keep an attorney busy filing injunctions or sending briefs about the project to city officials or real estate developers to ensure that a project moves ahead as scheduled without being tired in a lot of bureaucratic red tape down at city hall. Hiring an off staff attorney team makes sense for large real estate developers that handle multimillion dollar building projects, but for smaller disputes of property lines and land usage disagreements putting a real estate lawyer on retainer will suffice.

Source by Billings Farnsworth

Why real estate agents need to stay motivated and on top of their market

Real estate is sales. No more and no less. You can go for months without selling anything and, naturally, be discouraged that you’ll ever succeed. Feast and famine is the order of the industry. So it is crucial that you break through this feeling to land your million dollar deal for the year. To land those deals you have to BELIEVE that you can do it – and that is why motivation is so important!

Motivation is also important for the following reasons:

a. Personality makes the sale!

Motivating yourself is essential because in real estate it is your personality, almost more than anything else, that counts. Reputation travels fast. Your success will hinge on word of mouth. Make a good impression and many more clients will want you to service them. That is why it is crucial that you feel on top of your field and that you remain confident in your abilities and skills, even when things don’t go as planned. Real estate can be hugely stressful – both for you and for your client. If a client leaves unhappy, whether it was due to your efforts or not, word-of-mouth spreads quickly and can affect your referral network and, ultimately, your bottom-line. Remain motivated!

b. Motivation gives you momentum!

Motivation pumps you up. Real estate is a feast and famine phenomenon. The famine part may be harder to sustain your energy for the feast. But the feast will come if you’re primed for it. That is why it is so important to retain your motivation so that you keep on enhancing your skills and so that you, somehow or other, manage to maintain your relish for your work. Motivated agents are more inclined to go the extra mile for their leads and clients, and the extra mile is always worth it.

c. You are self-employed

At the end of the day, you are running your own business – and that is precisely why motivation matters! As agent, you may work under a broker and the broker may provide you with marketing tools, education and mentoring, but, ultimately, you are responsible for your own results. It will be largely up to you to find the leads, manage them and close the deals. In short, you as agent are a business-person, an entrepreneur, self-employed and, like any self-employed individual, you will have to motivate yourself to keep your business going. In other words, the drive, determination, and self-discipline, must ultimately come from the agents themselves. And that is why it is so important for you to be self-motivated!

d. Motivation is one of the two most important skills!

Real estate hinges on knowledge. You’ll need to know your geographic locality inside out as well as going property prices and industry regulations. But, otherwise, the two most important factors are your personality and motivation. As regards personality, you’ll need to be gregarious, likeable, and you’ll need to possess excellent people skills. You’ll also need to have empathy in order to understand people’s situations and needs, so as to serve them best. Otherwise a positive attitude is crucial. Without that, you are at risk of defaulting on the first particularly since you’ll, likely, find the labor uphill work for you (especially in the beginning) and tend to be disheartened or frustrated. In that way, motivation underlies anything to do with real estate and is basically the corner-stone of your success.

Says Zurple, the real estate lead generation agency: Success in real estate relies on two main things – a great business strategy and a strong drive to succeed. If you’re missing one or the other, you will struggle. And if you have both – your’e on your way to success.

The bottom line is this…

Success in business, especially the real estate industry isn’t the 100 meter dash – it is a marathon. Maintaining a steady level of motion can be tricky, but it’s your main – if not your only – way to success.

Here are three tips that can help you:

  1. Recognize your progress: Take it slow and pat yourself on the back for those minor victories. Congratulate yourself for staying on task and for completing all those incremental steps that were so necessary for closing the deal.
  2. Find yourself a successful mentor: In the cutthroat industry of real estate finding someone excellent to help you can be laborious. Avoid brokers who are ready to hire you for fees. Take your time in finding someone who is a good match for you, who is honest and who has your best interests in mind so that he. or she, will give you the time and guidance that you need.
  3. Organize your time well: Set aside time to speak to clients, review industry reports and statistics, attend meetings, and see to all the other variables that go into the real estate schedule. Improve your skills as you go. Don’t avoid tasks that you don’t like. Be self-disciplined. Look to the future – don’t dwell on your failures; learn from them.

And one more thing…

Get and stay motivated!

Source by Yanni A Raz

In day-to-day work, it is easy to get talked up in holdings patterns, habits, and beliefs. Now, consistency is important to building up and communicating your brand as a real estate agent, but what happens if you just start to get bogged down? What are some tools to break patterns that are no longer serving you?

When I work on branding with my clients, describing a "picture of success" is the first of seven steps we take. This picture becomes a Vision Statement, which we use as the foundation for all of our marketing and branding work.

A Vision Statement should be a vivid picture of what your business will look like in one to five years when you have reached your vision. It describes how it feels to be working as a real estate agent, what reputation you will have, and what your contribution is. It's not a mission statement, because you will be describing how you will BE, not what you will DO. It creates a rally point for all of those working with you.

Here are five reasons to create a vision statement:

1. Once you've imagined your business of the future, you can "visit" it – and makes plans for the unexpected. This is a great why to opportunities opportunities – and threats.
2. They make it easier to dream about what is possible, so opening your imagination to new insights.
3. Having a specific image in your head that captures your success is much more exciting than simply thinking about numbers.
4. Because they are both specific and aspirational, Image Statements provide inspiration – and motivation.
5. As we know from athletes, it's easier to achieve something we've already seen – even if only in our heads.

Here's how to get started on your own Vision Statement:

Pick a date 1-5 years in the future. Close your eyes for a moment and imagine how exactly you want your work to feel like at that point. What are your clients like? How many do you have? What kind of properties are you working with? How does a typical day go? How much money are you making? Keep it to under a page, and if there's anything you do not like, just erase it and start again. After all, it's your vision!

Once you are done, keep your Vision Statement as an internal document, but refer to it from time to time to keep you inspired and motivated.

Source by Andy Riegler Andrews

As the creator of the “Buy Your First Apartment Building E-Course” I have many potential students and beginning investors ask me, “How do I find motivated apartment building sellers?”

There are many ways that investors use to find motivated sellers, however, what I see happening many times with beginners is that they start looking for properties to purchase before they thoroughly understand how to identify a truly profitable opportunity. Here are my recommendations for how to begin learning about multifamily investing and then how to find motivated sellers.

Begin by learning what makes mult-family property profitable by taking these steps:

  1. Study and learn about what makes an apartment building profitable.
  2. Read as many books about real estate investment and apartment building investment as possible. It is a lot easier to learn from other people’s mistakes. There is no need to reinvent to the wheel.
  3. Find a reputable real estate investment club in your geographic area and meet with the commercial investor members. These “old hands” are a valuable source of market information.

After the aspiring multi-family property buyer has received a thorough education by reading books, industry magazines and networking with other commercial real estate investors then he or she is ready to begin the process of searching for an actual property to purchase.

Contacting Commercial Realtors

A great reference source for finding well educated commercial real estate agents is the CCIM website. The CCIM is a professional designation that qualifies a commercial real estate professional as capable and knowledgeable in the field. You can also find commercial real estate agents using a simple search on the web.

When searching for a commercial real estate agent take these steps:

  1. Speak to a number of commercial realtors in the area and ask about “pocket listings”. Pockets listings are apartment building owners that the experienced realtor might know who are serious about selling their building but they have not listed the property yet.
  2. Find a commercial realtor who specializes in multi-family investments. A good commercial realtor who specializes in multifamily properties should have a great knowledge of what apartment buildings have sold for recently.

Alternative Strategies for Finding Apartment Building Deals:

  1. Place an ad on Craigslist stating what you are looking for:
  2. “Looking To Sell Your Apartment Building? I am a commercial real estate investor interested in buying multi-family property in Philadelphia between 5 and 100 units. I am looking for owner financing over five years with 5% down or will buy with a 20% down payment and a bank loan.”

    Or, here is an ad that I copied directly from Craigslist this morning:

    Moving? tax benefits run out? call me for a offer.

  3. You can also place the same ad in the commercial real estate section of your local newspaper but be prepared to pay a handsome sum for the ad and also be ready for unsolicited calls for real estate agents. Newspaper ads do work but you are better off using free or more direct methods like direct mail.
  4. Another strategy is to contact the owners of commercial real estate directly. This can be done in a number of ways. Multi-family owners can be located by researching the tax records of a metropolitan area. Usually, the owner of record will be listed along with his or her or contact information. The next step is to write a letter that explains who you are and what you are trying to accomplish. The purpose of letter to have many interested apartment building owners contact you. You should leave your phone number, mailing address and email address for sellers to contact you. You should make it very easy for the sellers to get a hold of you. Remember, you will need to look at dozens of deals and sellers before you find the one that fits your investment criteria. You can also contact owners directly by telephone. Keep in mind that multifamily property owners are usually very busy so you might want to write a script or have talking points written down so you are able to get right to the point and get your message across accurately.

Source by Ted Karsch

The Philadelphia Phillies is the oldest Major League Baseball team in US. The team began playing from 1883. The Phillies are associated with the Eastern Division of Major League Baseball’s National League. The Citizens Bank Park has been the home ground of the team since 2004. The Phillies have been victorious twice- once in 1980 and 2008. They defeated the Kansas City and Tampa Bay and won the World Series Championships. The team has a mixed reputation among the sports lovers. The team has won several major matches but also lost quite a few. Their performance for the last 5 years has been exceedingly well. They have won 5 divisions in a row. Philadelphia Phillies has a great fan base which is incomparable with any other such baseball team in US.

Philadelphia Phillies is the oldest playing baseball team in US and hence has an illustrious history. Following are a few interesting facts about the team. Kid Gleason is a Phillie player who won 38 games in a row in 1890, which was also the inaugural season. He struck 222 batters during this time. Another player, Carlton struck 310 batters in the year 1972 which in itself is a record. In 1980 The Philadelphia Phillies won their first World Series. The Phillies squad players had 3 positions in the year 1993. Milt Thompson and Pete Incaviglia platooned LF, Wes Chamberlain and Jim Eisenrich platooned RF and Mariano Duncan and Mickey Morandini platooned 2B.

During their career the Philadelphia Phillies has indulged in some humorous incidents. One of the most unfortunate and rather humorous episodes was when the team won 3 matches against the Dodgers and was supposed to win the entire title; they took a break and lost the next 10 games to become losers of the season. During their first winning game in 1980, Steve conceded 4 hits in 7 innings while Tug McGraw got scoreless relief. This lead the Philadelphia Phillies to register their first win. The Philadelphia Phillies won the first Word Series in 1910 against Chicago Clubs.

The Phillies Game Schedule is available online. There are several websites like the Phillies Tickets Direct that offers the Phillies Game Schedule. Not only this, you can also find Phillies Tickets to make you way to the major tournaments. So, don’t miss the action live. If you are away from the city, you can plan your trip checking out the Phillies Game Schedule online. Isn’t that interesting?

Apart from watching the matches of Philadelphia Phillies you can also explore the city of Philadelphia. Lots of events take place during this time in Philadelphia which you can enjoy with your family and friends. On 10th of February, visit the live ice bonfire. Witness the making of ice sculptures by ice carvers from all around the world. For all the art lovers the Van Gogh Exhibit is an opportunity of a lifetime. This is a special event taking place in Philadelphia and no where else. So, the art lovers do not miss this opportunity.

If you are into classical music, then the Mozart Clarinet Concerto is open for you. This will be performed by Anthony McGill at the Kimmel Center during the first weekend in February. The Institute of Contemporary Art is offering free admission to people interested in trying to learn some strokes. The Design Zone is a creative festival for kids held at the Franklin Institute. You can also try some ice skating and also check out the newly discovered remnants of dinosaurs at the Franklin Institute.

Source by Soma Piyali Nath


Several years ago, I was attending a Society of Industrial Realtors Annual Spring Conference in Maui. My wife had accompanied me on the trip so that we could also do a lot of sightseeing. Colliers International, a 241 office worldwide firm, sponsored its own company cocktail party the night before the Conference officially began and my wife and I attended the party.

A short while into introductions, a fellow came in from the golf course and he sat down at our table. Andrew Friedlander introduced himself an we discussed our home in Philadelphia, his original home in Brooklyn and his new home in Honolulu. As to how he ended up in Hawaii, Andrew told us that on R&R during his tours in the Army in Vietnam, he decided to take a break in Hawaii after he was finished his last duty tour. He rented an apartment, waited tables, washed cars, etc. to have some extra cash. He said that he paid his apartment rent to an older man who came around once a month and he finally asked the man whether that was his business. Andrew said that he never thought about property management as a business, but the more he spoke to the man the more that he realized how diverse a business commercial real estate could be, particularly in Hawaii. The rental agent began to show Andrew the basics of the business and Andrew decided not to return to Brooklyn.

Forty years later, Andrew is the manager of approximately six Colliers International offices in Hawaii with over 40 brokers and salespeople as his responsibility. Aside from selling and leasing commercial real estate and traditional brokerage transactions through the islands, Andrew’s team is involved in all of the other aspects of commercial and industrial real estate.

As one concierge person told my wife and I while we were touring there, “Yes, it is a great place, now where would you ever think of moving to once you are here.”

In the past year, a young Army Captain and friend called me from Hawaii. He and his wife were taking in some R&R after his last duty tour and he called to ask me for some advice on commercial real estate firms. I gave him Andrews phone number after I checked with Andrew on his availability. Andrew treated my friend to lunch and introduced him to Colliers’ business in the islands. As it turned out, my friend and his wife decided later to relocate to Florida to be closer to their parents. Our Colliers office in Ft. Lauderdale was anxious to interview him and did so. He found a better fit for a concentration in office brokerage with another firm, but I think that it is clear that opportunities do exist with major firms for someone who has an interest, who can demonstrate that they are self motivated and whose comportment (manners, speech, personal grooming, business attire) are all positive. A long time friend told me one night after we and our wives checked in, very late, at a hotel owned by a well known hotel group, “That desk clerk is the person representing this hotel company to its customers and I know the CEO. That clerk’s slight rudeness toward us does not at all represent what their CEO wants his company to be known for in their business. He will need to learn that if he is going to be more than the late night clerk.”

I mention this because a company such as Colliers or any of its competitors must ensure that a salesperson or broker first meeting a potential customer properly represents the company’s image. So much money is spent defining that image to the business community that each person, including all staff, must reflect that effort. Otherwise, a potential customer will choose to hire a competitor whose act is together. My understanding is that customer relation training at Wal-Mart is quite strong for all personnel. I would think that any major restaurant chain has in place a thorough program for staff training and it may pay to observe whether if the customer is not always right at an establishment how the staff person handles a customer who is being a bit particular.

2. Entry

I use Andrew’s story as an example of the opportunity that commercial real estate offers. A senior business mentor and good friend of mine told me in Florida in 1971, just at the beginning of that recession, that commercial real estate offered an opportunity to enter a business without having my own capital to invest other than my time and energy, and, with no limit on the size of transactions that could be put together. We discussed this in relation to my going back to law school. His opinion was that it was almost a “sky is the limit” approach, but with some basic sense to it. I had done a few financial reports on potential deals offered to him. I also handed over that year, at my mentor’s instruction, a $300k commission check to a broker who he had employed to buy a property that he had settled on the year prior to that. The next year, at the same time, I handed over the same check to that broker as the second half of that commission to that broker. Please realize that in 1972 that commission amount in the onset of that recession was a significant amount of money for any transaction.

Each state has its own regulations for licensure. Florida required a person to take a sales licensing course, pass that, then work in a licensed real estate broker’s office for a minimum of two years before being eligible to take a state broker’s exam. The sales course is offered by numerous private firms and colleges, evening courses in particular. The cost of the course is minimal. The basic skills for reading, writing and math portions are not difficult. Depending upon your educational qualifications, commercial real estate firms may often offer to provide the course. Smaller, more generalized, brokerage firms may also do the same in order to gain a salesperson.

There typically is a recognized “culture” or business reputation known for a real estate firm in any community, The community can be local, regional or national. It pays to do your homework as to which firm appears to suit your style. The internet is definitely one of the most productive sources for finding a firm’s history, its areas of expertise, personnel, and its successes. Recognize that major metropolitan commercial firms often outsource client needs in an outlying area to a smaller commercial firm in that area rather than requiring one of their main office brokers to commit to travel time. Consequently, if you are in a rural market outside or between major metropolitan markets, you should investigate which real estate firms have those relationships for the larger deals.

Your time for success starting in commercial real estate (particularly without capital) will be the result of what you put into it. I had the option in the early ’70’s of returning to law school and finishing. What I realized most was that I liked being out of an office and “on the street.” My attorney friends in Ft. Lauderdale were spending innumerable hours, as needed, in their offices to write briefs, draft documents, etc., all of which that profession requires. My decision was to put in the same hours on commercial real estate that I would have to put in for any law practice. If it worked, then fine, if not I would go back to school.

Considering that the early ’70’s recession in Florida hit every occupation with almost equal damage, many attorneys had practices with slim billings and clients whose businesses were suffering economically. Several real estate brokers who I met were having very difficult times because the banks were not lending money for deals. Florida had a usury cap of 14% at that time. Deposits were down and when interest rates in California started to go above 14% that is where the money went.

Weekdays in those years, I was knocking on the doors of businesses in the West Palm to Miami corridor. Weekends, I was often painting a house or captaining a motor sailer owned by a friend’s corporation. Weekday evenings after dinner, I was at the office reviewing property information, ownerships, tax data, etc. for the next day’s driving or phone calls. I found that it was possible to earn a living while getting into the commercial real estate field. I later found out after moving back to Philadelphia, that several of the commercial real estate firms did not mind their starting salespeople to moonlight as bartenders, waiters, or whatever until they had enough experience to close transactions. That has changed somewhat in the larger cities due to the financial strength of the larger firms and their ability to either offer a base salary or draw to new salespersons.

Gender in today’s commercial real estate world is not an issue as it was in the ’70’s. At that time, men only eating clubs were often the norm and women were not often able to match that type of selling locale. The number of women who have joined commercial real estate organizations such as SIOR, CCIM, etc. (which I will discuss later) has increased dramatically over the past 15 years. The commercial real estate courses offered today provide an excellent means of obtaining knowledge that once was taught generally “in house” by senior brokerage personnel responsible for a new salesperson’s progress.

Therefore, in considering commercial real estate the aspect of having minimal capital has not changed. Gender is not an issue and many women who have chosen to specialize in industrial or office real estate have done very well. You

can choose your hours, choose your area of specialty(s), choose your market area(s), and choose who you want to approach as a firm to join. Most commercial real estate involes the standard business week, not including late Saturday or Sunday hours (vs. residential Sunday open houses). These are several of the positive aspects of working in commercial real estate. The competition is keen, your competitors respect a good work effort and, most importantly, they respect a strong reputation for any individual.

You should investigate both larger commercial firms and smaller real estate brokerage firms. There are advantages and disadvantages to both.

A). Larger firms may be willing to offer a base salary or a draw against commissions. They may prefer prior business experience, but not necessarily prior real estate brokerage experience that may conflict with what their “culture” is and what their in-house training entails. Typically, a new salesperson would be assigned to a senior broker or brokers to do cold calling, marketing materials, marketing reports for any existing client’s property and probably handle property inspections by other competing brokers with their prospects.

A few points on Larger Firms:

Future ownership potential for you in the company may be limited or non-existent.

Control over what market, territory or discipline that you work in may not be your choice. If you are hired for one department, such as retail, that may change if they need personnel support in another department, such as office. You may find that they prefer a new person to rotate through each department and possible each regional office if they have multiple offices.

Depending upon whether the firm is privately held or a public company it could be sold or merged without you being involved in the discussion. There is no real “safety blanket” for any position in a larger firm. If a primary, large, client is lost to a competitor, cuts may be relatively fast to absorb the lack of revenues.

Senior brokers who are successful occasionally leave to join another firm or to start their own competing firm. Clients usually follow those brokers and that could disrupt your potential income if you are in that department and the rain makers leave.

Deal volume can be significant as can be the size of the deals. If an institutional owner (bank, insurance company, pension fund, etc.) has a presence in an urban market, the leasing or sale assignment that they may award to a larger firm can be a “year maker” if the assignment is completed. Usually some year end bonus money flows down to the salespersons who may have participated in the marketing effort.

Senior brokers should have upper level corporate contacts through either a business association, country club, educational institutions, commercial lenders, or contacts referred from other cities where a corporate headquarters may be located. If the firm owners or top brokers are not developing those contacts and relationships, but are relying on the mid-level brokers to do that you may want to look at another firm whose top management is better involved. You want work to filter down from the top instead of getting the crumbs leftover from competing firms who have a solid community (business and non-business) presence.

B). Smaller firms usually will have a broker/owner running the operations with or without broker partners in the firm. Quite often they will have a residential department and a separate commercial department in which a few of the brokers may work in residential and commercial properties.

A few points about Smaller Firms:

Future ownership shares may be offered depending upon deal volume and commitment to the firm. If the founding broker of the firm is nearing retirement age, the opportunity may be better provided that they are maintaining an fully active presence in the community.

Commission percentages may be much more liberal once a minimum threshold of deal volume is met to cover the cost of your desk, phone, secretarial, etc..

A salary or draw is less likely to be offered.

A senior broker may be more likely to have you work directly under him on any property. You will be accountable directly to him and, as should be the case, learn “on the job.”

If there is a residential component to the firm, those brokers specializing in that area should be a source of commercial referrals and the same for you referring any possible single family residential to them. Smaller multi-family buildings should be on the commercial side of the business, but motels may be on either side. This can vary in an area such as Ft. Lauderdale, Hilton Head, or New Jersey resorts where a residential owner with a relationship to the firm may also own retail rentals.

Most regional areas have a Realtors Association, Chamber of Commerce or other organization that offers discounted insurance and other benefits to its members. Whereas a larger firm may have a good corporate health plan and other bulk discounted benefits to its employees, you should look at the costs for each that are offered. I have not found that much of a saving on either side, but if you leave a larger firm you will need to find the alternatives that are affordable.

Your business exposure may actually be more effective working out of a smaller firm and being a primary contact for that firm instead of a secondary contact at a larger firm.

Property databases and the Internet have provided smaller firms with much better access to real estate information than in the mid-’90’s and before when only larger firms could afford to maintain proprietary property information for a larger market. Launching a significant marketing campaign for a property can be expensive even with the Internet and smaller firms will have a lack of cash resources to compete for major property listings. Deal size, therefore, will be smaller and you will have to strive for volume,

Best regards.

Peter P. Liebert,IV-SIOR

Flourtown, PA

Source by Peter Liebert