What Makes you Successful
Hi, I’m here with Jessica Reinhardt, we’re talking all about commercial real estate today, and I want to take a minute and talk about your success in your profession and what makes you successful. And is it the same as is it very similar to what we do or not?
So there’s similarities. You know, it’s I think a business based on relationships. We get to know the people and we want to keep them long term and they can provide referrals to us as well if we treat them right and give them the business that they need and give them the right way. And we have to know the market. We specialize in certain areas. Me and my team focus on the northeast Dallas area.
So I really know that area. I know what rates. Right. I know our competitors, what they’re offering. I think just having that knowledge of where you’re working not really helps, because if you go into one space and you know what they’re offering, what the finish looks like, but you can guide someone and say, well, across the street they’re offering this type of a out at this rate and guide people to where they need to be. And then we really get to know the tenants in the area.
We go door to door to find out which tenants are aware, what type of business they have. Are they growing, are they downsizing and get to know their needs. And then it kind of helps when you’re working with other groups that, hey, this guy down the street might be moving out because they’ve outgrown their space or, you know, we get to know what people’s needs are.
Do you have a tough market? Do you do a lot of market? And can you do that? Yeah, you fall under the same clear cooperation. Yes. Yeah. Wow.
So we you know, it’s a little tough, but we can go directly to landlords or owners and ask them if they’re wanting to sell their property. And we may not advertise it to all the other agents and we may just have our database of clients that we know are looking for certain product at certain price points. And we may try to present it to them first and then maybe we take it to the market, maybe we don’t. But yes, we definitely deal with off market opportunities.
Ok, and how do. If people are looking for commercial real estate, where do they search because you don’t have a commercial MLS? I mean, there’s some things in our MLS, but not that’s not really the go to place.
Well, we prefer that you come to us so we can guide you. But there are online websites. The biggest one is Star. That’s what most of the commercial agents use. It’s similar to an MLS system. And then there’s also LoopNet, which more direct users will go there to look for information. But not all properties are there. And kind of like you mentioned earlier, we may know about listings that aren’t on there and then we can help you with opportunities.
So the topic was what makes you successful? And I heard these things competency, but I feel like maybe you go a little above and beyond because it’s you’re competent in the area. But you were going out to meet the people, so then they know who you are. And then if they’re looking to do anything commercial real estate related, they’re going to remember, oh, that’s a go getter. She’s out there, you know, trying to match these deals and find properties for clients. That’s the person I want to work with. So I think that’s really good.
And then the other point is that once you do find that space, whether it’s to buy or to lease, then we guide you through the lease or through the contract. So that’s the other important component, because we will mention items or highlight items that you may not be aware of and things to look out for in the lease that will in the long term could cost you money.
And, you know, what are your responsibilities in that lease? Are you responsible for the AC units, the, you know, things like that you may not think of, but we have that knowledge to guide you to point those aspects out in the contract to you. Ok, all right. Great. Well, thanks for that. I see why you’re successful now. All right, Jessica, closing out.