Exactly what do you know about your local property market and real estate industry today? Do you know what the next property projects are and how they will impact the local business profile? When you work as a real estate agent selling or leasing local commercial and retail property, your market knowledge is integral with your personal success.

To establish a significant market knowledge there are different property categories and activities that should be tracked throughout the local area:

Keep in touch with all the local businesses so you understand their property pressures in ownership or occupation. A successful business is not a static operation. They require fresh and new property to assist their business performance. On average, a successful business will require property assistance at least every 5 to 8 years.

Struggling businesses need help and solutions with their property to relocate or downsize as the case may be. Speaking to business owners and leaders to help with this need is a constant networking requirement. As part of that focus it pays to keep close to the landlords that may be impacted by a tenant that is in difficulty.

Vacant property in your local area will be the target of future development opportunity. The same principle applies to redundant property that is not yet vacant. On that basis you should be monitoring both vacant property and redundant property throughout the region. The local council or municipality will have plans associated with zoning activity and building approvals that also require understanding.

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When you are leasing commercial property to a tenant, there are a few good principles to follow in the sales pitch about the premises and in the process of negotiating leasing. These principles apply with both office and industrial premises.

At the outset remember that the inspection and the pitch is all about the tenant and the premises; it has nothing to do with you. You are only the facilitator to the deal. All comments and questions should focus on the tenant and their needs.

Remove your ideas of more commission and closing another deal immediately. Start to focus on the tenant and the benefits they can get from the property. You should know the property and the location better than the tenant so you can do something with that knowledge.

Here are some ideas to introduce to the inspection and negotiations:

How would the tenant and the business operate from the new location?

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Remember that buying or selling commercial real estate is significantly different from buying residential real estate. That is why you need the help of licensed commercial real estate brokers to get the best deals.

What commercial real estate brokers can do for you

Licensed commercial real estate brokers are trained to assist you to market your commercial real estate property to the right audience. Your retail, office, industrial or multi-family property will receive publicity that will attract only the best buyers and investors.

Most commercial real estate brokers make use of multiple listing service and extensive multimedia networks to make sure that your property reaches interested buyers. When you leave everything in the hands of commercial real estate brokers, your property will find it is way to newspapers and relevant Internet sites in no time.

What to look for in commercial real estate brokers

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