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RPR Commercial: Parcel Overlays
In our last few RPR Commercial articles, we've honed in on specific map tools that can help commercial practitioners in property research and advising clients. We've covered map POIs, data layers, and drawing tools to show you just how deep RPR's data goes, and how easy it is to access this important information within our platform. We're continuing the trend by putting a spotlight on one of our Commercial mobile app tools: the parcel overlay. And here's why: during a recent member feedback session, one of the participants offered up some advice on a digital application that she's been using to great success. It was a parcel overlay app for the state of Florida. She then said (and we're paraphrasing), "If only we had a national tool like this that covered the whole country. It would be so valuable." Turns out, you do. In fact, every REALTOR® does! It's the Parcel Overlay map filter found in the RPR Commercial app, and it's a nifty little feature that doesn't get a lot of attention. Here's how it works and how you can leverage its value… Parcels that deliver the goods Before we dive into the "how-to's" of using the map parcel overlay, here's a summary of what it can do for you as a practicing commercial real estate agent. By turning on parcels on the map from your phone, you can click on a property and have instant access to the: Property Owner Acreage Boundaries and property lines Square Footage Property Address Transfer Date School District Sale Price Building Description Directions Trade Area and population info "Call agent" button Imagine standing in front of a property or prospecting in an area, and clicking a button to reveal all this information. The investment and development possibilities are endless with this type of digital data tool and it could potentially give you a huge competitive edge. It accelerates the job of contacting owners and "digging" for intel or gauging interest in offers for their property. The days of going from website to website and making endless calls for basic information are no more. With RPR Commercial map parcel overlays, you simply find the property and then access the data with ease. A visual representation of parcel data can really help you make informed decisions about the potential value of properties. Here's how to do it. The "How-to" on commercial parcel overlays Step 1: If you don't have it already, download the RPR app for your smartphone or tablet. Step 2: Make sure you switch the mode in your RPR app to "Commercial" Step 3: From the home screen, hit the magnifying glass icon to conduct a search. Enter an address, ZIP code, city name, MLS ID/APN or Tax ID, then click "search" right below the bar. You'll be taken to a map that looks like this: Step 4: See the little round navigation button in the bottom right, the one with the three smaller dots in a row? Press this button to reveal the map options: Step 5: Press "Parcels" to "on" to activate the parcel boundaries overlay feature. Now search the map pins, and select a property, and a page that looks this will appear: Step 6: Click on the photo of the listing and scroll down to see the Listing Details and the property description. Step 7: Scroll down even further to reveal the Location Details, Property Facts, the Price Change History and more. It's so easy to make RPR's commercial data work for you! The parcel data available to you in the RPR Commercial app could be a game changer. With just a few finger taps, you now have the ability to research and gather key information on millions of properties. Give parcel overlays a test spin while you're in the field or on the go. Download the RPR app today to streamline and optimize your commercial research tomorrow. Good luck! To view the original article, visit the RPR blog.
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How to Be a Successful Commercial Real Estate Agent
Commercial real estate is concerned with the buying or renting of properties used for business purposes. This includes office buildings, retail spaces, warehouses, and more. Obviously, marketing these types of properties is very different than marketing residential homes to your average American. So how exactly do you become a successful commercial real estate agent? Commercial real estate is a whole different ball game than residential real estate. When immersed in the world of commercial real estate, you work with wealthy companies, corporations, or individuals willing to invest a substantial amount of money into their business properties. This leads to higher commission checks, but fewer clients than those in residential real estate. This difference makes the path to being successful in commercial real estate a little different than the path to being successful in residential real estate. Work with a Reputable Company Working with a well respected commercial real estate company should be a top priority of yours. The firm you are associated with gives you credibility. Many potential clients will not even return an email or call if you do not have the backing of a well known and respected commercial real estate firm. The name of the company you are associated with may be the number one most influential factor in whether you are successful or not. Working for a reputable company allows you to get your foot in the door and chase some opportunities. Reliable firms provide security and comfort to potential clients. Therefore, being associated with a reliable firm allows clients to trust you to handle their multi-million dollar investments. Research the commercial real estate firms in the area you have chosen to work. Ensure you get a job with one that has a positive and strong reputation in the area. Working with a reputable firm significantly increases your chances of being successful in this field. Choose a Thriving Market A big determinant of your potential profits is the specific market you are working in. If you are not working in a growing and competitive market, it may be time to consider a move. You need to be in a place that has a high potential for client recruitment and increasing profits. Metropolitan or urban areas are the place to be. They often contain thriving commercial real estate markets, with lots of opportunities for success. This is because cities are known for more business activity, higher demand, and higher fees than rural areas. Specialize Just like in many other professions, commercial real estate gives you the opportunity to specialize in a division of the field. Specialties are divided by specific markets, such as urban offices or retail spaces. Specializing is an opportunity you should not miss. Committing to a specialty, and developing an extensive understanding about the specifics of that specialty, will only benefit you. Focusing on a specific market within commercial real estate allows you to become an expert in that market. This allows you to close deals faster and more often. Focus on Networking Networking will make or break your business. Having a substantial professional network is how you will achieve success in this industry. You want industry professionals and potential clients of your market to know you and think highly of you. That way, when a deal presents itself, they think of you as the person to call. Having a strong network provides you with the opportunities you need to get ahead in commercial real estate. Be sure to develop real relationships with the people you intend to network with. Thanks to social media, connecting and fostering relationships with others is easier than ever. Social media can be used in hundreds of different ways to network and connect. Join Facebook groups for commercial real estate agents, learn about local events for industry professionals on LinkedIn, and message people through Instagram. Simply put, the larger your network, the more opportunities you will have to be successful. Constantly work to expand your network in order to eventually become a top producing agent. Expand Your Skill and Knowledge Set Most of your clients will be highly educated and successful individuals. They will expect a lot out of their real estate agent so that they can make the best and most informed business decision possible. This means that an understanding of economics, finance, and tax law is extremely beneficial to you in order to best serve your clients. Investing in education courses on these subjects allows you to impress your clients and earn all of their referrals. Constantly expand your knowledge set. Stay dedicated to continuing your education to be as successful as you can be. Stay diligent on expanding your skill set as well. To do this, you must utilize educational opportunities, such as coaching or courses that allow you to improve your negotiation skills or learn the latest technology in the commercial real estate industry. An extensive skill set only makes you more valuable to both clients and employers. Succeeding as a Commercial Real Estate Agent Hopefully, you have picked up a few tips that have enlightened you on how to be successful as a commercial real estate agent. This industry can be very difficult to get started in, but that should not discourage you. Stay committed, and never lose focus of your goals. Take all the educational courses you can, constantly be networking, and improvie upon your specialty. When you put the effort in and learn the craft well, you will discover just how prosperous commercial real estate can be. To view the original article, visit the Transactly blog.
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Spot-on Commercial Site Selection Is How the Cookie 'Crumbls'
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Following the Money: Is Proptech the Pied Piper or the Savior of Commercial Real Estate?
Proptech is advancing all areas of commercial real estate from developments in building innovations and blockchain technology to smart homes and green tech. If you are a commercial real estate agent, you are noticing the change. Globally, real estate is the biggest industry and depending on where the data comes from, its value ranges from billions of dollars to trillions of dollars. That is a lot of money coming from one sector with investors throwing more into proptech innovations daily. So are all these changes in technology making the road to success easier or are they leading you down the wrong path? Tech investors are flocking to the real estate industry because they envision a future that allows you to better share information, control energy consumption, and improve construction workflow. Precise Information Change is good. Without the use of current technology, it would be virtually impossible to do business in today's commercial real estate market. Technology has allowed you to precisely measure square footage calculations, visit properties through 3D tours and submit all legal documents necessary through online methods. Simply put, proptech and CRE go hand in hand and incorporating them into your daily routine is essential. You cannot afford to fall far behind in your use and understanding of proptech, or you stand to lose your way. Data Commercial real estate deals with a huge amount of data. Everything from contracts and legal documents to building information and management operations. There is a need to provide easier and faster ways to source and transmit data. Enter the technology sector. Tech investors are jumping into the billion-dollar real estate industry to satisfy the need. According to Prescriptive Data in 2019, there were over $31 billion VC proptech investments. Companies are investing in ways to supply better and more accurate ways to deal with all the data through a variety of innovative methods. Blockchain Blockchain technology is not just for cryptocurrencies, it takes on a whole new meaning when delivering information in the commercial real estate industry. This developing proptech helps to easily maintain and control transactions in a very transparent way. Future audits of facts and figures are simplified through the use of blockchain technology benefiting you as a real estate agent by allowing verification of transactions quickly and easily. Reducing risk and streamlining processes are just some of the perks you can look forward to. Construction Management It's no simple task to construct a multi-level building from the ground up. Proptech building information modelling (BMI) will help in the planning, construction and management of a building's infrastructure for the entire lifespan of the property. You will be able to see real estate floor plans in 3D transformed entirely from hand-drawn sketches in a matter of a few seconds. Not only does this technology help everyone involved from architects and engineers to construction companies, but it will help provide current information to any prospective purchaser. Investments and Operations In a commercial real estate transaction, you need ways to accurately supply information to assist in your real estate marketing plan. Current proptech trends are developing ways to supply real-time data allowing management to make better-informed decisions. Up to the minute statistics on a property's history, neighborhood details and current ownership costs will provide for better ways to estimate the value and future value for decision making. Smart technologies will be able to monitor various algorithms and adjust for safer and greener environments. Monitoring airflow and energy consumption are just a few benefits of proptech innovations. All this translates into buildings being more attractive in rental markets for both the purchasers and end-user. Benefits for Real Estate Transactions Critical data for both commercial and residential properties will be available to include geo-location technology for planning and development purposes. Details on topography, flood zones, and soil stability will speed up the process necessary for construction and redevelopment sites. For real estate agents and lawyers, property transactions will be verified instantly for legal documents, land titles and transfer of ownership. Through advancements in technology, all of a building's information can be digitally transferred in a matter of minutes. Waiting for week-long responses to register a sale will soon be a thing of the past. Technology and CRE have travelled on different roads for a long time. But the future is clear, following the money trail could lead you on a path to success.
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REALTOR Uses RPR Commercial to Conduct Business and Break Down Barriers
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RPR Commercial: Map out a Path to Success
As a commercial real estate practitioner, your clients count on you for sound advice and expert guidance. One easy way to help them make more informed decisions is by mastering the RPR map. RPR's powerful map functions provide layer after layer of important insights. These maps provide a visual analysis, arming you with community intelligence that will help you promote a property with high traffic counts, understand the competition around a potential new restaurant, or do a quick check to see if a building is in a Flood Zone or Opportunity Zone.
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Use Public Records to Find Commercial Prospects
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5 Simple Steps for Searching Properties in RPR Commercial
Adjusting to life during the coronavirus crisis is affecting us all. It has also introduced many new "-ings": "sheltering," "distancing" and "flattening." At RPR, we think it's an opportune time to include "search-ing." As in, searching for commercial properties in RPR. Using RPR search is your first step in discovering all that RPR Commercial has to offer. It's time to look at the glass half full and use this newfound work at home time to get in and discover this incredibly useful function.
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RPR: Collaborating to Bring REALTORS a Pain-Free Commercial Resource
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Top 5 Data Needs for Researching Commercial Properties
RPR wants to help REALTORS succeed. As the nation's largest real estate database, RPR provides commercial practitioners with data, tools and reports that will help them "wow" their clients and close more deals. Here, we identify the top five areas in RPR Commercial that can be used to help bring more clients and more deals to the closing table.
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RPR Commercial: 3 Ways to Start 2020 on a High Note
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Top 3 Underused Commercial Search Functions in RPR
The actions taken to do a property search really haven't changed much since real estate and the internet first came together. For decades now, we've gone to listing sites to be immediately greeted by that oh-so-familiar search bar, and within a few clicks (with a little help from the magic of the internet), properties of all shapes and sizes pop up. In RPR Commercial, the same basic process holds true, but the use cases for search have grown well beyond just finding available space. With that in mind, I wanted to share a few of my favorite, but perhaps lesser-known, non-listing search functions.
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How to Implement RPR into Your Resimercial Business
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Leading Clients with Strategic Site Selection (6/29)
Wednesday, June 29, 2016 at 12:00 PM PDT Helping clients find the right location for their businesses can be a challenge—especially when they have their sights set on the wrong side of town. Redirecting those preconceived notions comes easier when equipped with the robust data and dynamic reporting tools found at Realtors Property Resource® (RPR®). Join us for this insightful workshop where you will learn to integrate your local market expertise with data and reports that will lead your clients in the right direction. Register now!
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Introduction to RPR Commercial (5/3)
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Crossover to RPR® Commercial (3/2)
Wednesday, March 2, 2016 at 9:00 AM PST Ask any residential REALTOR® and they’ll tell you there’s no one size fits all approach to meeting the needs of clients. Today’s agents fill a variety of roles, needing to know not just the neighborhood, but also local economic conditions. Join us for this trek into the RPR® Commercial platform, designed specifically to address the interests of residential REALTORS®. Register now!
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Target the Right Consumer Base With Esri Data From RPR
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Crossover to RPR® Commercial (2/3)
Wednesday, February 3, 2016 at 9:00 AM PDT Ask any residential REALTOR® and they'll tell you there's no one size fits all approach to meeting the needs of clients. Today's agents fill a variety of roles, needing to know not just the neighborhood, but also local economic conditions. Join us for this trek into the RPR® Commercial platform, designed specifically to address the interests of residential REALTORS®. Register now!
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Crossover to RPR Commercial to address those quirky residential questions (11/11)
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Rural Area Agents: Cover All the Bases for Residential and Commercial Clients
Hometown real estate agents are quintessential multitaskers, ready and willing to do whatever it takes to meet the needs of their rural communities. Here at Realtors Property Resource® (RPR®), we recently heard an entertaining tale of a REALTOR®, working in a one-traffic-light town, who exemplifies that "do what it takes" spirit. The story goes that the REALTOR® stood in the street outside a seller's home to flag down a pickup truck. Frantic to conclude the final walk through with her buyers, the agent sifted through her purse, coming up with $48 as payment to convince the driver to remove a 200-pound, 1950s wet bar from the basement of the seller's home. The unit had become a serious point of contention between buyer and seller, and the buyer refused to sign off on the walk through until the behemoth bar was removed. The driver agreed, but not until the agent and buyer helped lift the bar onto the truck, which they did, and then, happy and sweat-laden, went to closing. Not everyone is so inclined to close a deal, but the story got us thinking about adaptability as a contributing factor in an agent's rise to success, and how that adaptableness lends itself to a rising phenomenon in real estate, one that is steadily inviting traditionally residential agents to assume a variety of roles in their own right. Insiders refer to this larger than expected group as "resimercials," although Emily Line, director of commercial services for RPR, refers to them as "hometown heroes." "These are the folks that juggle multiple obligations in terms of servicing the diverse needs of their communities," said Line. "They are from rural areas—professionals plugged into their communities who have a vested interest in attracting small business, in addition to meeting the needs of homebuyers."
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Achieving Success With RPR® Commercial
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Commercial Real Estate Success, Courtesy of RPR®
We have been publishing a series of articles that profile how real estate professionals are leveraging Realtors Property Resource® (RPR®) to be more successful. Today, our article focuses on a commercial REALTOR®, Paul Martis. Busy Agent Summary We understand that you're busy, so we're going to provide a quick summary here. In one minute or less, these are the things you can take away from Paul's success with RPR®: Don't wait until your MLS signs up for RPR® before taking a look at it, because there's actually some value you can take advantage of without an MLS agreement. Visual representation of data is an important way to communicate with clients and can help get them more excited about their real estate transaction. RPR® can help provide highly visual reports that enhance clients' understanding and enthusiasm. Mention RPR® tools, and the opportunities they open up, to clients during a listing presentation to help win the listing.
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Product Review: IXACT Contact
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Beyond Residential: Commercial Agents Can Use RPR, Too!
Making the transition to commercial real estate can be challenging for agents who come from a residential background. Transactions take longer to close, appraisals are more complicated, and agents must learn to grasp the finer points of zoning in the areas they serve. On top of that, novice commercial agents need to embrace new technology tools in order to be successful. RPR Commercial is one of those tools. Launched in 2012, the application gives commercial agents access to dynamic search and reporting features, demographic and zoning information, and beyond. We recently spoke with Sydney Machat, CCIM, CRE, a veteran small town commercial broker and consultant in Maryland. As one of the earliest adopters of the solution, Machat is well versed in its many uses. He shared how RPR helps his real estate practice thrive. One User's Story RPR Commercial helps Machat support buyers in a transaction by enabling him to send comps to financing institutions and banks. "Banks want BPO-type information for real estate counseling assignments. I support seller and landlord brokerage clients with current market data initially from RPR."
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Commercial Real Estate Listings Tips
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Top 10 Articles from September
True to its back-to-school spirit, September was chock-full of educational topics. We saw a lot of trends in the articles we published this month--plenty of discussions about the importance of Google+, and tips for improving your blog and website. We also strove to keep you up-to-date with technology related events that occurred during the month. When GoDaddy crashed, we took the opportunity to teach our agent and broker audience more about the ins and outs of website hosting. Take time to peruse our Top 10 articles from last month and learn more about how technology can help you grow your real estate business. 1) 5 Mobile Apps That Streamline Your Real Estate Business - by RE Technology Staff Everyone's got a favorite--so we've compiled a list of ours! These fabulous apps let you to keep your business moving on-the-go and help you stay organized. 2) Closing Gifts That Give Back - by Karli Larson A wonderful way to make a lasting impression with your clients is by giving them a unique closing gift. Long gone are the days that a bottle of wine or a calendar with your logo on it will impress your clients. Your closing gift may be the last contact you have with them for quite some time, so it's important to let your clients know you care.
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Top 10 Articles from August
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7 Keys to Email Success
7 Keys to Email Success This is a very important topic for any professional, and vital for REALTORS® in particular – so let's cut right to the chase. Here are a few rules to follow if you're using email for your business. 1) Make it personal. Technology can offer professionals a competitive edge, but we need to be sure that it doesn't build a wall between us and our clients. In the context of email, this means you need to make an extra effort to give your communications a personal touch. Rather than writing your newsletter from the perspective of "the company," write it as you would a letter, from the perspective of an individual. Sign the letter as an individual. Include your contact information and even a headshot. This rule is particularly important for REALTORS®; for you, name and face recognition is vital.
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