Starboard Commercial Real Estate

Hans Hansson | August 15, 2018

Many years ago, I began purchasing single family homes for investment in Arizona.  I had found a terrific residential real estate agent whom I trusted and over the past ten years, we have bought a number of homes that he found. He helped me find the right people to remodel and maintain the homes, he managed the care and of all the leasing, and he continued to advise me on when to buy and sell. 

 

You could say my real estate agent and I had formed a partnership. On the finance side, I had my relationship manager from Bank of America. I could call Seta who was in San Francisco and she would arrange financing for me with just one phone call.  She knew all about my finances and knew how much I planned to put down– she would do the rest. 

 

Both of these partnerships have made me a lot of money. I curated my own team and was able to buy outside of California, without any issues.  If something went wrong, it was always taken care of. 

 

Today, what I had developed would be much harder to duplicate. There are excellent residential real estate brokers, but I’ve seen the personal relationships between brokers and clients diminish. One reason for this are mega franchise brands.  Firms like Compass, which is rapidly becoming the largest real estate brand in the U.S., is pushing technology tools as a way to better service its clients. 

 

On the financing, side the “Setas” of the world no longer exist.  Banks do not allow a single person to have that kind of authority anymore. And with government regulations today, they would not have the ability to find or buy a property on my behalf. 

 

Sadly, we’ve lost the personal touch. Technology takes information and tries to put it into the hands of the end user (the buyer)– without the need of a single person. The challenge is that the real estate agent and the lender knowledge cannot be replaced with data. Having more information by the end user does not mean that they are in a better position to close a deal. When they do not have that personal helper– who has the experience you lack to get the job done right?

 

Real estate and banking have traded in personal support and relationships for expansion and acquisition. Believing they could service more people, but in turn, lack quality of service. 

 

But, you have to start with me and those that do what I do. In the past, I could move much more quickly and buy homes with professionals supporting my effort throughout the process. I bought homes faster, which means that I began feeding the food chain faster. My buying a house, my money for my real estate agent, as well as my lender, but I also was able to employ contractors, permit expeditors, inspection personal title companies, insurance companies and eventually was able to provide improved housing to my renters.  In other words, I was able to spur the economy a lot faster with my efforts. 

 

This was more to create bureaucracy in real estate as banking stymied the growth of smaller investors.

 

The cost to get started is already high, but the challenges to get individuals in the industry to help you has been replaced by a mobile app and a chat room. 

 

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Hans Hansson | July 5, 2018

If President Trump follows through with his plan to institute tariffs in order to force more fair trade, then commercial real estate across the country will be affected in a very big way.  To understand how, we need to look at our history to see how trade imbalance came to be. 

 

At the end of World War I, Germany lost the war and was forced to pay serious reparations for all of the damage inflicted on the allies. Germany was forced into a major depression that eventually led to Adolf Hitler coming to power, thus causing World War II. 

 

In order to avoid the same mistakes after World War II, the United States incentivized the development of both Germany and Japan so that they could rebuild their countries faster and enjoy prosperity, instead of being relegated to a third world power.  The trade imbalance against the U.S. grew to a point in the 1980s when then President Reagan decided it was time to issue tariffs to put pressure on both countries to create fairer trade practices. 

 

Japan’s massive trade imbalance with the U.S. impacted industries from the domestic car market to the electronics market, including televisions, computers, cameras, and home goods. Germany’s trade imbalances included their luxury car market where BMW, Mercedes, and Audi leveled and initially destroyed our leadership in the luxury car market. 

 

President Reagan forced both countries to either create equality or build their products in the U.S by implementing tariffs or threatening to do so. This strategy led to the construction of major car manufacturing plants, building foreign brands here in the U.S. in areas that were once struggling in poverty, which created a building boom that turned southern states into new economic powerhouses for long-term growth. 

 

If President Trump follows through with a similar tariff, perhaps we can expect foreign countries to decide to build in the U.S., rather than lose market share altogether. Today, we already see tech giants like Apple and car brands like Volvo that are constructing new plants here in the U.S. 

 

We might see foreign countries build plants, too–– from steel to appliances and clothing.  This will lead to major growth in commercial real estate across industries.  

 

The challenge is–– what would it cost us?  We can certainly expect costs of goods to go higher, but we could also expect better quality goods to be built as well.  

 

I remember when the U.S. began looking to foreign countries to offer cheaper labor to manufacture our goods. At the time, I had asked an economist from Chase, “How will this strategy NOT create major job loss in the U.S. and NOT hurt our economy?”

 

His response was, “For every dollar lost in manufacturing jobs, we will gain back four times in buying power through the U.S. consumers’ ability to buy goods at lower costs.” However, when you look at the buying power of today’s consumer–– their incomes do not match inflation and we see that it hasn’t been in favor of the working U.S. citizen.  

 

Clearly, the erosion of our middle class is one of the reasons that President Trump got elected. They want real jobs back--and if they do come back, America will see one heck of a new boom in commercial real estate.

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Hans Hansson | June 8, 2018

When Hurricane Maria struck Puerto Rico in September of last year, many here in San Francisco watched as the tragedy unfolded across newspapers and screens. One story from the disaster that stood out to me was about the cooks of Puerto Rico. When the hurricane first hit, agencies from the Red Cross to FEMA, the Federal Emergency Management Agency, rushed to provide relief. The agencies developed a major, multi-layered plan to handle the logistics of helping Puerto Rico recover. The plan would take an army of services and personnel to implement.

 

Finally, one man, chef José Andrés, asked the question: “How are we going to feed the people today?”

 

José saw the importance of cutting through the red tape of the extensive, complex plans that had been proposed so that the people of Puerto Rico would have access to food when they needed it. He created his own, far simpler plan:  José contacted every restaurant one by one and told them to start cooking. Soon, the plan José set in motion was feeding thousands, then millions of Puerto Ricans within the first two weeks. This was all accomplished through a loosely connected network of people that delivered no major plans – they simply passed the word along and got it done.

 

Today, San Francisco, the most liberal city and one of the richest in America, is faced with one of the largest homeless crises in the country, and the city can’t solve the problem. According to the San Francisco Chronicle, San Francisco spends $305 million on the homeless population, and yet homelessness is only getting worse. 

 

 

To address the problem, San Francisco has created layers of bureaucratic redundancy in services, leading to more red tape then actual solutions. People are dying in the streets in their own filth and we are completely bogged down in our own bureaucracy. The city has also turned homelessness into a job creator. Serving the city’s homeless residents now accounts for thousands of jobs, which has in turn created a conflict of interest when it comes to implementing a true vehicle to reduce this problem and save lives today.

 

The current mayoral candidates know how important resolving the homeless crisis is to San Franciscans and are all running on similar platforms aimed at solving this issue by throwing more money and funding at it. This will only create more jobs while people continue to struggle on the streets as we wait for some new, bold plan to take effect.

 

San Francisco can learn from chef José Andrés and decide that we need to help the homeless today - not tomorrow, or next week or next year. 

 

So how can we do that? San Francisco has the capacity to house a significant number of homeless residents in buildings that are currently vacant due to state requirements around seismic upgrades. These buildings include the Laguna Honda Hospital, parts of the San Francisco Juvenile Detention center, and the Women’s Cottages, which are all centrally located in one place. These facilities could easily be converted to emergency housing today, aside from the liability of seismic concerns.

 

This is where we need to ask ourselves a very simple question: do we want to save lives right now and use these facilities, or continue to put lives in danger on the streets for fear of a potential earthquake?

 

As a former hospital, Laguna Honda is built with everything we need to consolidate our services in one place and help people today. It has the ability to feed a mass amount of people with its large kitchens. It already has the structural layout to accommodate the needs of San Francisco’s homeless, yet our own red tape and current laws prevent us from taking advantage of it.

 

Current law says that we cannot hold anyone more than 72 hours unless a series of tests determine that a person cannot take care of themselves. At San Francisco General Hospital, the homeless are brought in and then sent right back out onto the streets because they don’t have enough beds and legally cannot hold them. California law also does not allow Laguna Honda and similar buildings to be reused because they no longer meet current seismic codes, so the city would likely be unwilling to take on the liability of re-opening them for homeless use.

 

Yet, look at José Andrés, the chef from Puerto Rico. He went around big, bureaucratic institutions that were set up to address major problems in a disaster and simply found a way to address the needs of the people immediately, not weeks or months later.

 

San Francisco needs to be bold. The city needs to announce a public emergency and open buildings like Laguna Honda today. If it means creating a sanctuary policy, similar to the one in place to protect illegal aliens, then we need to implement that policy for the San Francisco citizens that are helpless and dying in the streets.

 

 

I challenge Mayor Farrell, the members of the Board of Supervisors and the future Mayoral candidates to not hide behind more spending projects that will take years to implement with only a small chance of success. Instead, save lives today and open those buildings, consolidate our current service providers, and create your own policies that address and help solve this critical emergency today. 

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Hans Hansson | March 27, 2018

Today, the costs to build any residential or commercial properties are through the roof.  When you set yourself a budget, my recommendation is to double it to ensure you protect yourself against the unknowns that will come up and “bite you”.

 

If you are going through this process for the first time, there are some key line items that almost everyone either misses or underestimates when it comes to total expenses.

  1. Expect (Major) Delays: Always just assume there will be delays in the building process. You can make an estimate for project completion, but I would double it to make sure you plan for more realistic timing and consider the overall carrying costs in terms of rent, financing, etc.

  2. Expect Change Orders: No matter how you are managing the project, if change orders don’t come about by changes in plans or ideas, it will come from the city when they begin inspecting the premises. Expect the city to give absolutely no leeway and ask that you maximize whatever the code would say.  For example, restaurants need to have grease traps installed. If you install the minimum standards required to pass, expect the city to push you to install the highest standards.  This change order could represent a cost difference of $6-$10,000 dollars by itself.

  3. Expect PG&E to Be Slow: Even basic installations could take four to six months or longer.  Once you file for an installation, you’re put onto a wait list that gives you no guarantee of PG&E following up with you to schedule the installation. 

  4. Sewer and water fees will cost you: From our own experience in building a bakery in Sonoma, California, we learned quickly about sewer and water fees. We had assumed that the sewer hookup fee would be between $5-$10,000, so we were completely shocked to receive a bill for $37,500 dollars. Starboard recently did a deal with a client that needs to install a new 4-inch waterline in order to improve their sprinkler system–our client was shocked to learn that the cost of the permit was $35,000.

  5. New Code Compliance Adds Zeros: The Americans with Disabilities Act (ADA) requires you to provide parking for the disabled that includes the proper ramps, signage, lighting, etc. Your architect may have drawn plans to compliance, but expect the city to require changes that could involve serious costs to in order to be compliant.

  6. Final Permit Is Never Guaranteed: No matter how good your architects and contractors are, you can never guarantee that you will secure a final permit.  In another project we worked on–a simple $2,000/square ft. retail renovation– we had to schedule three separate times in order to secure approval of the building plans. Each time we completed the changes that the planner required, we had to go back for another approval. When they would review after the changes were made, they’d find something else we needed to include. This added time and costs that were not accounted for in our original budget.  

 

Although all of the items mentioned above are bound to happen during your project, there are a couple of things you can do to set more realistic expectations. I would recommend that you ask your contractor to share samples of previous jobs similar to yours and adjust your budget based on those change orders. I would also recommend connecting with anyone who recently went through a building process and learn from them what happened during their build, so you can try and avoid similar sticky situations.

 

Lastly, I’d recommend holding a pre-planning meeting with the city’s water department, health department, and PG&E. The more you learn in advance, the less surprises you will encounter. 

 

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Hans Hansson | February 8, 2018

Common etiquette, at least what I have learned and practiced, has certainly evolved in ways that are very different today. “Please” and “thank you” have been replaced with “Can you” or just silence.

 

“Please” and “thank you” used to communicate civility. It was a request for help and a response for acknowledging help received.

 

Manners

The lack of these manners has also changed how we communicate in the workplace.  As a commercial real estate broker, I am in a unique business where my competitors are my rivals one day, and my ally the next.  Just like in any partnership, communication is critical to make sure both sides are moving forward to ultimately close a business transaction. Our job is to figure out the right strategy, communicate, and negotiate with one another until hopefully we come to an agreement.

 

However, common practice of the past is no longer the way business is handled. Fellow brokers today no longer update one another on deals, nor for that matter show any regard for their fellow brokers’ time and effort.  

 

 

Respect

For example, a typical property tour used to comprise of a broker calling several days ahead to schedule a walk-through of a space. Today, we oftentimes hear from a broker with an hour or two of when they’d like to see the property.  We do our best to accommodate, but frequently end up getting no-shows, extremely late showings, or cancellations to the showing. This ends up being a huge waste of time– and time is money.

 

The broker is not necessarily the problem here.  Many times, a client today has little sensitivity or respect for a broker’s schedule and has expectations for the broker to work around their schedule.

 

Communication

After accommodating a last-minute scheduling to show off the space, we rarely receive a follow up from the broker to update us on interest from their clients. We will call, email, text– but rarely do we get a response. If a broker’s client is interested, we won’t hear from them until the offer is sent. Earlier in my career, business was handled between brokers and we would discuss what it would take on both ends of the deal to close. We may discuss terms of the buildout, term rate expectations, etc.

 

We have also experienced deals where brokers on both sides simply go radio silent.  If you ask for an update, you can expect no response.  Recently, I was involved in deal where a broker represented his client and took us through interest, an official offer, and even space-planning. Shortly after planning, they disappeared from the transaction only to reappear, and disappear again. Our obvious conclusion was that they were negotiating with another party.

 

I ask myself – “When did common courtesy get thrown out the door?” They say to receive respect, you must earn/show respect. If each of us practices gestures of etiquette, even the smallest actions, every day (particularly with strangers), one would hope to see a domino effect spread, making life–and business– much more pleasant for all of us.

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Hans Hansson | January 7, 2018

The ongoing tradition of making a list of positive changes you want to implement in your life in a new year can actually be productive.  A number of people will sign up for fitness classes, perhaps give up drinking, or cut back on unhealthy foods. Others may decide to make changes in their professional careers, make financial commitments to save more, or make a bucket list of places to travel.  

 

New Years is a time to reflect and see the possibilities of the brand new year ahead.  It’s a time to look forward, not backward.  Unfortunately, most of us that make these potential life changing resolutions don’t stick with them long-term.  Overtime, the motivation for change often weathers away.  

 

The reality is: change is difficult.  It’s difficult to actually start making changes and it’s even harder to maintain over a long period of time.  As human beings, we like stability– regardless of if we are in a good stable place or bad stable place. Change takes us out of our comfort zone and brings us into the unknown, which can be very scary for most.

 

Although we may mean well to seek out positive change, we almost always feel obligated to simply because it’s a new year.  But like any change, it doesn’t come easy and we rarely see it through.

 

What makes uncertainty such a challenge? Perhaps because it means nothing will ever be the same. A new job may not provide greener pastures as you had thought. Starting your own business could quickly go sideways and make your current circumstances a hundred times worse than they were.

 

Chip and Joanna Gaines, stars of the hit HDTV television show “Fixer Upper”, wrote a book called “The Magnolia Story” that explores how Chip is a constant believer in change, while his wife is a constant believer in stability.  Chip believes that once you have reached stability and feel comfortable– change is necessary. Although his wife believes in the opposite, she supports Chip when a decision is made and jumps in to make the next change in their lives work.  Chip feels that growth occurs only through uncertainty. Uncertainty requires you to be creative, open, and willing to deal with uncertainty head on. In turn, this creates growth.

 

My first grandchild was born in December.  She is entering a world that will see changes like no other period in history.  My granddaughter will probably never drive a car. Most of the products she’ll use will be manufactured through robotics. Commercial space travel and humans living on Mars may be the new norm. All of these items today bring a tremendous amount of uncertainty in our lives.  The thought that we would not have control of our automobiles scares a lot of people. The thought that you would live on another planet and be able to travel to space is beyond uncertainty for most.

 

Every invention – from the light bulb to the computer, and the world tech giants like Amazon have created has ushered uncertainty into the marketplace and within our lives. Yet, we begin to accept these changes and adapt.

 

The world does not come to an end for most; rather we evolve. As the New Year begins, if you truly want to grow– jump into the pool of change. It might appear cold at first, but you will begin to swim. And who knows? It might put you in a better place than you are now.

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Hans Hansson | January 7, 2018

Having been in the commercial real estate business since 1984, I have experienced three boom and bust cycles throughout my career.  The beginning of the first cycle was marked by the 1989 earthquake in San Francisco, which preceded a deep national recession. That was followed by the Dot.com boom and bust of 1997 through 2001. And then the worst of them all– the stock market crash of 2008.

 

The current economic boom cycle started in 2010 and is now entering its eighth year. During this cycle, commercial rents have increased 60 percent on average, yet conventional business growth (excluding the tech sector) have seen business gains of less than five percent per year on average.

 

Historically, commercial tenants needed to pay a maximum of eight percent of their gross revenue on rent. Today, several businesses are pushing rent to 12 percent or higher.  With other costs like payroll, benefits and additional regulations, businesses are being nickel and dimed. Many retailers, both local, national and international, have called it quits because profit margins have been lowered so dramatically.

 

That being said, the tech sector has clearly driven this current boom. However, venture capitalists have reduced startup funding, hoping to stabilize existing investments before engaging in new major rounds of funding. In commercial real estate, tech tenants are typically short-term tenants (under 3 years), that means any cutback on funding could eventually start creating vacancy issues.

 

Banks are starting to be more cautious too. Bank of America recently tightened their lending requirements for commercial lending in anticipation that the current cycle will end soon.

 

Yet with all the signs showing that we may be at the top of the cycle, growth continues to occur.

With the passage of the tax reform, we can predict that more businesses will benefit and therefore continue to see growth in the coming year.

 

This current cycle is so similar, yet so different from past cycles I’ve witnessed that I frankly can’t predict what will actually happen. But my gut is telling me that 2018 will be a good year.

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Hans Hansson | December 20, 2017

In a new book by Enrico Moretti, “The New Geography of Jobs,” Moretti provides a deep dive where job opportunities are and why that is the case. He explains how job hubs are created and why certain cities may never recover their past glory. Interestingly enough, some of today’s hottest markets came to fruition by complete accident.  For instance, Bill Hewlett and Dave Packard created hardware components out of their garage in Palo Alto, California and created a domino effect for other tech founders. Around that time, Palo Alto’s economy was supported primarily by agriculture. HP forever changed Silicon Valley.

 

Paul Allen called his friend Bill Gates to New Mexico where they had worked on an early version of Microsoft. When their business grew to 50 people, Paul became homesick and decided to move the company headquarters back home to Seattle– which later became today’s tech hub of the great northwest.  

 

Moretti noted in his book that most major business hubs would strategically choose a location near elite educational institutions in order to attract bright new talent to the area. However, some of the best schools in the country struggled with graduating students returning to their hometowns to start their careers. The University of Michigan is a prime example of an elite school that touts itself as one of the best universities in the country, yet the state has one the the lowest retention rates of its local graduates.

 

The same is seen in Philadelphia– a town loaded with exceptional universities, yet it continues to see graduates move back to New York or other surrounding hometowns rather than set down roots in Philadelphia.

 

My son attended Saint Joseph’s University in Philadelphia and graduated in 2009. My wife and I had visited numerous times over the five years he lived there. We found the historical aspects of the city beautiful, however the city itself seemed tired. Grand historic buildings were abandoned or underutilized, leaving parts of the city feeling like a ghost town. We’d see construction of new buildings take place, but overall the city appeared to be locked in a time warp.

 

In the last decade however, things began to change– all thanks to one local restaurateur by the name of Steven Starr. In 1995, Starr began opening unique restaurants in old abandoned buildings in downtown Philadelphia. This was highly risky, as downtown had the reputation of being very dangerous. But, one by one, each restaurant over time slowly took off and became wildly successful, changing the scene downtown.

 

 

Soon, local building owners would seek out Starr in hopes of forming a partnership to open new restaurants in their buildings. Today, Starr has opened 20 restaurants alone in downtown Philadelphia and brings in thousands of customers a day to the downtown area.

 

 

He not only gave new life to old, vintage buildings, but has ignited the transformation of a once rundown section of the city. Starr’s high-end restaurants attracted clientele of a particular demographic. Luxury retail shops soon caught on and moved their stores to downtown. Wanting their piece of the pie, more restaurateurs, coffee shops, and convenience stores started to open new locations downtown. In addition, the housing market started to take off. Like most major cities, millennial residents want to live in Center City, Philadelphia.

 

 

Remodels are seen underway of older office buildings, converting them into beautiful brand-new luxury residential properties.

 

Since the transformation of downtown, Philadelphia is attracting many young residents from New York seeking lower housing costs and a less crowded lifestyle.  Co-working facilities are also cropping up as headquarters for new tech startups, mostly founded by local university graduates.

 

After all these years, Philadelphia got its spark back–  all thanks to one successful restauranteur who took a huge risk and changed the city’s course for the better.

 

Cities around the world should take note– this is a textbook example of pure entrepreneurship, not city-planning or state-funded directives that sparked this change. Moretti’s book shares examples from around the world where attempts to change the direction of a city and it went nowhere, even though there were good intentions by city officials. Luck is most often the reason for major urban growth.

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Hans Hansson | November 29, 2017

One of the most active industrial markets in the country can be found in Chicago.  Commercial Real Estate properties there can easily make $300,000 - $400,000 a year selling and leasing industrial space. Yet, commercial firms are having an ever increasingly tough time finding new agents.

 

No Longer a Go-To Career Choice

Real estate is not an attractive occupation to today’s generation. An industrial agent in Chicago needs to expect to have to own a car and drive on average 25,000 miles per year to cover their marketplace. Today’s generation does not want to own a car, let alone drive around all day for work. In addition, you need to put in several years of hard work with little pay to build your book of business to achieve these higher income levels. This generation wants an immediate payday.  

 

The biggest challenge is that most younger professionals want to live in the cities that they work in and don’t typically find suburban life appealing after college.  This frankly doesn’t only affect potential talent in commercial real estate, but also most traditional businesses.  From manufacturing to the trades– traditional businesses are struggling to recruit while millennials seek roles at new startups in both nonprofit and non-traditional marketplaces.  

 

Talent Wars

Today, the average worker in trade work is 46 years old and are struggling to recruit, counting more and more on veterans rather than graduating high school or college students to fill these positions.

 

The big question is – what happens if you can’t find workers and compensation is not the driving recruitment tool?  What happens when manufacturing or the trades pay well enough to attract and it does not work?  An example is an electrician in the Bay Area can make $140,000 to $175,000 a year including pensions and full benefits far better than most jobs, yet they are struggling to find talent.

 

Part of the problem is that this generation has not experienced the need to fix their own things or service and assist others.  The age of “now” may be showing its negative effects on society as a whole.  Most of the trades attracted labor from the next generation. For example, a father who worked in the trades would likely have sons who ended up following their footsteps. Children used to work on cars themselves and learned the ins and outs of the mechanics. They would learn how to use tools at a young age, so choosing a career in the trades became a very natural choice. Today, children are working with computers– learning to code, build and design websites and software, therefore choosing a career in technology is now the new natural progression.

 

Business Continues to Change

 

Commercial Real estate agents typically were founded because their parents were in the business. Their parents were salespeople and the next generation understood what it took to be successful in sales and how to service clientele.  Today, sales are done not in-person, but via text messages, emails, and social media.  This has clearly caused an evolution that will eventually permanently change how we do business and how we create things.

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Hans Hansson | November 15, 2017

As a result of owning my own commercial real estate firm since 1991, I have seen what works and doesn’t work in the successful development of a real estate salesperson. The single biggest thing that causes most agents to not “make it” is their inability to create a disciplined approach to time management.

 

Time management is the key to success for any salesperson. It’s also part of organizational skills that most salespeople do not have as an innate trait. Most personality profile tests will support this understanding. A strong salesperson’s test results will look for strong driven skills and the ability to multitask and press forward, even when it looks like there is no business to secure. Yet, almost all of those tests will show lack of organizational skills. This typically would be found in people who are more analytical in nature.

 

Calendaring Your Day

I have thought for years about the importance of calendaring all of an agent’s necessary activities each day. Personally, I will calendar current business, new business, “big hour”, personal business, research, and education.

 

The current business includes all of my deal activity pipeline and things I need to do to push those forward. The new business activity includes business development. The “big hour” is working on deals that have low probability to close, but with high rewards if they do. Personal business is acknowledging that everyone has certain personal actions that need to be accomplished each day.

 

Each activity requires you to create tasks to complete each day, which I keep in a separate tasks file. When I have to do work on current business, I simply go down my list of tasks associated with each activity. If I don’t complete a task, I move it to the next day to complete.

 

Continuing to Learn

Research and education are the hardest activities to calendar into your schedule. These are also the hardest actions to perform each day. Although education does not produce immediate results, nor lead to any direct benefits for the foreseeable future– you will increase your likelihood of long-term success.  

 

As a commercial real estate broker, I recently attended the National Association of Realtors national convention. Most commercial brokers are not members of the NAR and most regard NAR as a service provider for residential realtors. However, NAR actually provides very strong tools, classes and networking opportunities that support commercial brokers both locally, nationally, and internationally.

 

I went to NAR to learn about new tools available to realtors. In the end, I learned new ways to leverage social media, new software tools available to improve how I do business while also lowering my costs, and I participated in classes that gave me inspiration to start implementing tactics with a new focus.

 

In terms of time management education, research is the most important daily activity you can do– and a daily calendar with scheduled time to educate yourself through listening to podcasts, reading books, mentoring, attending training classes or online webinars will help you grow as a salesperson instead of ultimately failing.

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