best practices: defining your service model to achieve optimal results for your clients and maximum...
TRANSCRIPT
Best Practices: Defining Your Service Model to Achieve Optimal Results for Your Clients and Maximum Profitability for You
Andrew B. Zezas, SIOR
Real Estate Strategies Corporation – New Jersey Chairman – SIOR Tenant Representation SPB
October 28, 2006
2006 Fall Professional Conference – Charlotte, NC USA
Best Practices: Defining Your Service Model to Achieve Optimal Results for Your Clients and Maximum Profitability for You
A little housekeeping
What Are Specialty Practice Boards? …meeting, sharing ideas, meeting, sharing ideas, elevating knowledge elevating knowledge
& & marketability, making deals, marketability, making deals, making money!making money!
What Can Specialty Practice Boards Do For You, Your Clients, Your Business?
General Knowledge: www.siortrepspb.com Email Partyline Tenant Rep SPB Membership Registration Form Continuing Education Form
Best Practices: Defining Your Service Model to Achieve Optimal Results for Your Clients and Maximum Profitability for You
My Background
Andrew B. Zezas, SIOR Chairman – SIOR Tenant Representation SPB
23 Years SIOR Since 2002 Licensed in Multiple States Licensed Real Estate Instructor in Texas, Indiana 5 SIOR Conference Presentations
President & CEO - Real Estate Strategies Corporation 4.5 Years - New Jersey 7 Employees 2006 Revenue: 100% Increase Over 2005 Corporate Acquisitions, Dispositions, Guidance & Advisory Multiple Industries Office, Distribution, Life Sciences & Technology New Jersey, Northeast, Around US
Suggested Agenda
What:… Is Tenant Representation?… Services do Tenant Representatives offer?… Kind of Tenant Representative are you?… Other services support Tenant Representation?… Conflicts of Interest can arise?… Are Tenant Representation Best Practices?… Are the Sub-specialties that support Tenant Representation services?… New ideas can we share today?… What do we need from the Tenant Representation SPB?
Best Practices: Defining Your Service Model to Achieve Optimal Results for Your Clients and Maximum Profitability for You
What Is Tenant Representation?
Best Practices: Defining Your Service Model to Achieve Optimal Results for Your Clients and Maximum Profitability for You
What Services do Tenant Representatives offer?
Best Practices: Defining Your Service Model to Achieve Optimal Results for Your Clients and Maximum Profitability for You
Must all Tenant Representatives offer the same services?
Best Practices: Defining Your Service Model to Achieve Optimal Results for Your Clients and Maximum Profitability for You
What kind of Tenant Representative are you?
Best Practices: Defining Your Service Model to Achieve Optimal Results for Your Clients and Maximum Profitability for You
A Transactor?
Best Practices: Defining Your Service Model to Achieve Optimal Results for Your Clients and Maximum Profitability for You
A Business Partner?
Best Practices: Defining Your Service Model to Achieve Optimal Results for Your Clients and Maximum Profitability for You
A Strategic Ally?
Best Practices: Defining Your Service Model to Achieve Optimal Results for Your Clients and Maximum Profitability for You
TransactorBusiness Partner
Strategic Ally
What’s the difference?
Best Practices: Defining Your Service Model to Achieve Optimal Results for Your Clients and Maximum Profitability for You
What other services support Tenant Representation?
Best Practices: Defining Your Service Model to Achieve Optimal Results for Your Clients and Maximum Profitability for You
“Conflicts of interest in the real estate business are pervasive and costly.”
CFO Magazine December 2005 Article Entitled “Divided Loyalties”
Best Practices: Defining Your Service Model to Achieve Optimal Results for Your Clients and Maximum Profitability for You
What Conflicts of Interest can arise?
Best Practices: Defining Your Service Model to Achieve Optimal Results for Your Clients and Maximum Profitability for You
Best Practices: Defining Your Service Model to Achieve Optimal Results for Your Clients and Maximum Profitability for You
1. Represents a company that is an industry competitor to its client
2. Represents its client’s business partners, stakeholders, or other service providers
3. Represents a client from another industry that has the same real estate and / or business requirements as its client. This other organization, while not an industry competitor,
could become its client’s real estate competitor
4. Represents properties that its client may consider acquiring
5. Represents other interests of a landlord or seller, when that landlord or seller controls property that may be an acquisition candidate for its client
Best Practices: Defining Your Service Model to Achieve Optimal Results for Your Clients and Maximum Profitability for You
6. Represents a competing property when representing its client’s property for disposition
7. Maintains an ownership interest - whether direct, indirect, through stocks, or otherwise - in a property (or a company that owns property) that is either an acquisition candidate for
its client or competes with that property
8. Seeks to represent a landlord or seller who offers properties to its client
9. Will generate bonus compensation if its client acquires a particular property
10. Will be forced to accept discounted compensation if its client acquires a particular property
What Are Best Practices?
Best Practices: Defining Your Service Model to Achieve Optimal Results for Your Clients and Maximum Profitability for You
Best Practice is a management idea which asserts that there is a technique, method, process, activity, incentive or reward that is more effective at delivering a particular outcome than any other technique, method, process, etc. The idea is that with proper processes, checks, and testing, a project can be rolled out and completed with fewer problems and unforeseen complications.
Wikipedia
Best Practices: Defining Your Service Model to Achieve Optimal Results for Your Clients and Maximum Profitability for You
So, what Are “Tenant RepresentationTenant Representation” Best Practices?
Best Practices: Defining Your Service Model to Achieve Optimal Results for Your Clients and Maximum Profitability for You
What are the Sub-specialties that support Tenant Representation services?
Best Practices: Defining Your Service Model to Achieve Optimal Results for Your Clients and Maximum Profitability for You
Sub-Specialties “Best Practices”
Break-Out
10 Minutes
Best Practices: Defining Your Service Model to Achieve Optimal Results for Your Clients and Maximum Profitability for You
New ideas can we share today?
Best Practices: Defining Your Service Model to Achieve Optimal Results for Your Clients and Maximum Profitability for You
What do we need from the Tenant Representation SPB?
Best Practices: Defining Your Service Model to Achieve Optimal Results for Your Clients and Maximum Profitability for You
Best Practices: Defining Your Service Model to Achieve Optimal Results for Your Clients and Maximum Profitability for You
Free Stuff!
Contact me with questions and to trade ideas!
Andrew B. Zezas, [email protected]
908 245 5999 x11
Best Practices: Defining Your Service Model to Achieve Optimal Results for Your Clients and Maximum Profitability for You
Best Practices: Defining Your Service Model to Achieve Optimal Results for Your Clients and Maximum Profitability for You
Andrew B. Zezas, SIOR
Real Estate Strategies Corporation – New Jersey Chairman – SIOR Tenant Representation SPB
October 28, 2006
2006 Fall Professional Conference – Charlotte, NC USA