Vous naviguez dans le monde de l’immobilier commercial. Comment pouvez-vous vous fixer des objectifs qui mènent au succès ?

I always have a pulse on what retail concepts are expanding and in what markets. As a national real estate landlord representative- I owe it to my clients to always have a list of prospects ready to be contacted.

Setting Goals for Commercial Real Estate Success: Define your strategy: Decide on your investment focus (leasing, flipping, or long-term hold). Set financial targets: Determine desired returns (cash-on-cash, cap rates, IRR) and milestones to reach them. Identify acquisition goals: Define the number, type, and location of properties you want to acquire. Plan for value-add: Set goals for renovations, repositioning, and expected increases in rents or property values. Build a pipeline: Focus on building a strong portfolio and investment pipeline. Regularly review and adjust: Be adaptable to market changes and review your goals periodically.

I use CRM software to track the needs of clients. A simple spreadsheet can help you get started. Make sure to have frequent follow up discussion to makes sure you are current with their needs and goals.

It is crucial to structure and plan goals for improving Commercial Real Estate strategy. Investors should create long term goals and short term goals. Long term goals should be made at the start of every year. Progress on long term goals should be assessed quarterly. For short term goals this is daily or weekly goals. These goals help execute and assist the long term goals. Write out your goals. It is important to implement goal setting strategies to track progress and success in CRE.

Para nadie resulta sorprendente que el mercado de los bienes raíces comerciales en Colombia, específicamente las oficinas, este bastante paralizado. Por ejemplo, en Bogotá nos encontramos con el desolador panorama de edificios enteros, prácticamente vacíos desde hace un par de años o de proyectos pensados principalmente para ese uso, que quedaron inconclusos. La pandemia cambio radicalmente muchas cosas y, una de ellas fue el modo en qué se pensaba en el trabajo colaborativo. Los constructores y propietarios de oficinas, deberán revisar a largo plazo las necesidades especificas de los clientes, planteando novedosos esquemas o será ¿Qué la única alternativa será cambiar el uso de estos bienes a vivienda? Solo el tiempo lo dirá.

Approach the search the same you would approach the role you ultimately take. This is especially true in brokerage. If I meet with you to discuss opportunities, and you don't send a follow up email, why would I think you would do that after meeting with a prospect? If you send me an email or leave a voicemail in an attempt to connect and I don't get back to you, keep following up. If you don't follow up when people don't respond to your first attempt to connect, why would I think you would do it when attempting to connect with a prospect? In business, there is a laundry list of things outside of our control. Your attitude and effort level are NOT on that list!

I had a client who was eager to invest in commercial properties, but without a solid market analysis, the risks were too high. We spent time analyzing local market trends, economic indicators, and upcoming developments. This research allowed us to identify a high-growth area that wasn't on the radar of many investors yet. By setting goals aligned with this analysis, we positioned my client for substantial future returns.

Successful goal setting in commercial real estate hinges on thorough market analysis. Stay informed about trends, economic factors, and local market conditions that impact property values and investments. By analyzing market data, you can pinpoint growth opportunities and make informed decisions. This analysis should drive your goal-setting, ensuring your objectives are realistic and market-aligned.

Pick the metrics most related to your plans and goals. CAP rates, employment base, market changes, etc. and seek those which best fit your projected needs. You are seeking the better markets for your plan, not just fitting you into a fixed geographic area. Find the market, then find an expert in that market.

Beyond simply tracking trends and local conditions, a comprehensive analysis should focus on understanding supply and demand dynamics, competitive positioning, and macroeconomic factors influencing your target market. For instance, evaluating job growth, infrastructure development, and demographic shifts can help you identify high-growth areas. This insight allows you to prioritize investments that align with market potential and long-term profitability. By integrating this data-driven approach into your goal-setting process, you ensure that your objectives are forward-thinking and responsive to market realities, reducing risks and maximizing returns.

Risk evaluation occurs at many levels. Fixed Rate Debt vs Floating Rate Property Management: 3rd Party vs Internal Management. Need for Liquidity and Available Resources. Concentration Bonus: How Many Properties Do You Manage in the Area?

In my experience, risk is in everything in life. But, with the more knowledge you have, you can learn to mitigate the risk to be fairly low. In my opinion, CRE more specifically multifamily in the U.S, has the lowest risk of them all. As humans, we have 3 necessities, water, food and shelter. And, with the current housing shortage that we are currently experiencing in the U.S, multi family real estate is going to experience extremely lucrative returns! But, I still like to always underwrite that deal very conservatively, mainly because I would rather be pleasantly surprised than greatly disappointed. Make sure you don't get stuck in analysis paralysis waiting for the "perfect" deal at the "perfect" time, because that will never happen.

In commercial real estate, risk assessment is essential for effective goal setting. Evaluating risks tied to different properties, locations, and market changes helps ensure your goals are both ambitious and achievable. Consider factors like tenant turnover, maintenance costs, and economic downturns to set realistic, informed objectives that align with your investment strategy.

Effective risk assessment in CRE involves using scenario and sensitivity analysis to anticipate and manage potential threats. Scenario analysis helps predict various future conditions, such as economic downturns, and their impact on your investments. Sensitivity analysis examines how changes in key variables, like interest rates or vacancy rates, affect financial outcomes. By integrating these analyses into your goal-setting, you ensure your objectives are realistic and adaptable, allowing you to manage risks proactively and enhance long-term success.

Strategic planning in Commercial Real Estate is a comprehensive process that involves analyzing your position, setting clear goals, developing strategies, and continuously monitoring and adjusting your approach. Follow these steps and consider market dynamics to set goals that lead to long-term success.

In one instance, after understanding a client's long-term objectives, we moved into strategic planning. We set SMART goals focused on acquiring specific types of properties in emerging markets, while also planning for property improvements that would increase value. By aligning these goals with their financial targets, we ensured a clear roadmap that guided our decisions and kept the client's investments on track.

Using the SMART system is a great way to get started. Planning is very important and making sure that you follow through with your plan. Adjustments will need to be made. Make sure to take action and adjust your plan as needed.

Strategic planning is vital when building a commercial portfolio. We always start with why our clients want a commercial portfolio and build a strategic plan from there. I took on a client in November, they had bought a commercial complex that looked tired, old, and run down. My client wanted to increase its value by 1 Million dollars, so they engaged my services. The first strategic plan was to get the commercial shop's leases up to date, with healthy returns and healthy rent reviews, increasing the revenue annually. The second strategic plan was to upgrade the complex to look newer and more modern. The third step, we planned was to utilize the extra land areas to maximize returns. We achieved the goal within 1 year.

In commercial real estate, start by assessing risks like tenant turnover, maintenance costs, and market shifts. Once risks are understood, set SMART goals—Specific, Measurable, Achievable, Relevant, and Time-bound. Your strategic plan should outline steps to achieve these goals, such as acquiring properties or diversifying your portfolio, while also considering financial targets and budget limits.

Why you miss your real estate goals. (You're working toward the wrong target.) We're quickly approaching Q4. Try a new approach next quarter. Instead of lagging indicators. (end of month results) -> Deals Bought -> Vacancy Rate -> Turnover Rate Focus on leading indicators. (actions taken to influence end result) -> # of Offers sent -> Pre-leasing activity -> Work Order Turnaround Time Predict the level of output needed for your leading indicators to positively impact your lagging indicators. Then direct all energy toward driving those leading indicators.

In commercial real estate, a strategic plan is vital, but success depends on breaking it down into actionable steps. These steps should be clear, manageable tasks that drive progress toward your goals. For example, if your goal is to increase rental income, actionable steps might include renovating properties to attract higher-paying tenants, improving tenant acquisition strategies, and optimizing lease negotiations. By setting specific milestones and efficiently allocating resources, you can maintain momentum and consistently advance toward achieving your larger objectives. This approach ensures that your strategic plan translates into tangible results.

With a strategic plan in place, break down your goals into clear, actionable steps. These should be manageable tasks that move you toward your larger objectives. For instance, if your goal is to increase rental income, an actionable step could be renovating properties to attract higher-paying tenants. Focusing on these steps helps maintain momentum and ensures steady progress toward your goals.

Success is all about the follow-up. If you’re not reviewing your goals at least quarterly, you’ll lose focus and direction. In a shifting market, you’ll often need to adapt and make adjustments along the way.

With another client, we had set ambitious goals for property acquisition and enhancement. To keep things on track, we established regular check-ins to monitor progress. By reviewing our plan and making necessary adjustments based on market shifts and performance metrics, we maintained momentum and successfully met our objectives. This ongoing monitoring was crucial in adapting to changes and achieving success in the commercial real estate market.

Adding KPIs is very important. Track goals and refine the data as needed. Always have a big audacious goal to reach for during your career. Set multiple standards.

Optimize your tech spend and utilize the full power of your products to drive the metrics that matter and inform insight backed decision making.