Kimberly Howell Properties

San Antonio Real Estate

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New KHP Commercial Website Launches

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KHP Commercial Website

Kimberly Howell Properties has just launched our new KHP Commercial website to better serve our commercial real estate clients and to focus specifically on the specialized needs of the commercial properties we list. Although we have long maintained a presence in the commercial real estate world, we felt it was time to give this segment of the business its very own corner of the internet. The site is still in its infancy, but you can easily see our commercial real estate listings, learn about the KHP Commercial philosophy, and learn more about some of our commercial real estate agents. We hope that you’ll find the new site useful when you’re looking to buy, lease, or sell commercial real estate, and as always, we’re open to hearing from you to learn more about what you want and need in your real estate websites. We consider all of our websites your websites and we want them to always be focused and you and your real estate needs.

Whether you’re looking to lease space for your new venture or ready to purchase large industrial, office, or multi-family buildings for your growing business or investment purposes, our commercial real estate department is ready for you. Come find out what makes us different than the rest and let us show you the dedication, skill, and experience our team possess. We look forward to speaking with you and can’t wait to assist you in your next transaction.

Are you a rising star in the commercial real estate world looking for a new place to call home? Our commercial department is looking to expand and grow and we could use your talents and skills. If you have a particular interest in blogging for commercial real estate, then we really want to talk to you as we continue to grow and build out our new website. Send us an email and let’s set up some time to talk about what we can provide and we’re looking for.

5 Tips to Become a Commercial Real Estate Agent

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Commercial Real Estate Agent

Being a commercial real estate agent is a lot different than focusing on residential real estate. The contracts are much different, the people involved focus on different things than their residential real estate counterparts, and the costs are often much, much higher. It’s a specialized field of real estate, but one that can offer a lot of unique challenges and opportunities for growth. We have several commercial real estate agents in our office and we’re always looking to work with more bright minded commercial agents seeking to gain the knowledge and background of what being a commercial real estate agent entails. Many people ask us how to become a commercial real estate agent, so we thought we’d take a few moments to offer some advice and tips on how to start the process and head down the path of commercial real estate.

5 Tips to Become a Commercial Real Estate Agent

Discuss your idea. Now that you’ve decided to work your way into becoming a commercial real estate agent, your first step should be to talk to some people about it. Call your broker and set up a meeting. They might have an agent in the office who specializes in commercial real estate or know someone they could introduce you to. Call your title company and ask who their commercial real estate closers are and take them out to lunch to pick their brain. Seek advice from those who know and are active in the commercial real estate market in your area.

Educate yourself. Education is fundamental to any real estate specialty and becoming a commercial real estate agent is no different. Take some classes at your local real estate school or online. Take a business or economics course at your local college or university. The more you understand the business world, the better prepared you will be to talk to people in the commercial world. Once you’ve learned the basics, keep learning and never stop. The more you know, the better you can serve your clients.

Know the lingo. Commercial real estate agents don’t talk about gourmet kitchens and master baths, they need to know a whole new set of lingo. From building materials to commercial grade systems (such as HVAC and fire security) to triple net leases to net operating expenses; the world of commercial real estate has its own language. If you can’t speak it, you’re more than likely not going to succeed. This is where you education will come in handy, including business and economics classes as they are the foundations on which commercial real estate is run.

Shadow another agent. Mentorship is something that is often overlooked in the real estate industry, both residential and commercial. Find someone who is willing to give up a bit of time for your assistance. Shadow that agent and learn how the contracts work, how they deal with difficult situations, how the negotiation process works (it’s much different than the residential negotiations you might be used to), and where they find business. Many commercial real estate agents can be a bit guarded about giving up their secrets, but there are plenty out there who are willing to work with you and help you grow into a successful agent. Know your value and offer to trade some assistant work with them for the opportunity to learn from them.

Make connections. Connections and networking are important in any business, but are crucial in the commercial real estate world. If you want to be a successful commercial real estate agent, you’ll need to get to know the movers and shakers in your local business community, the developers, the attorneys, the title company closers that specialize in commercial real estate, and other commercial real estate agents. They will become your sphere of influence for your commercial endeavors, so reach out to them and get to know them.

Still think you have what it takes to be a commercial real estate agent? Then dive in and don’t forget to get up to speed by taking some classes and educating yourself. The foundation is always the crucial part of any structure and your education will serve as just that in the future. Once you’re ready, give us a call, we’d be happy to talk to you about the world of commercial real estate and help guide you to your next steps.

image courtesy of Phil Sexton

New Contract Forms for Commercial Real Estate

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Contract Forms

On January 1, 2016, the Texas Association of REALTORS, updated a long list of contract forms for use by its members. This list included a couple of commercial forms, notably the Commercial Contract – Improved Property and Commercial Contract – Unimproved Property. These forms are not required use for commercial real estate transactions, but many members of the Texas Association of REALTORS do use them. Consult with your agent if you have any questions regarding the new contract changes. While often small changes, they can have consequences and may change your position during a transaction.

image courtesy of 24oranges.nl

San Antonio Bringing Commercial Site to Luckey Ranch

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Donut Hole

Luckey Ranch will become the home of a 70 acre commercial site at Loop 1604 and Highway 90, part of the larger 610 acre master planned community in what’s become known as San Antonio’s “donut hole” (so named because the demand is high, but there is a limited supply of available land). The 70 acres of commercially zoned land was sold by The Kalikow Group, who had owned and invested heavily in the area, but in the past three years has sold off all of the available residential land, much of it to LGI Homes. With a strong residential market in the area (average home prices are up from $155,000 to $260,000 in the area), the new commercial development is a logical next step in filling in the area and anchoring the residences with commercial opportunities.

image courtesy of jordanmit09

Texas Tops Commercial Real Estate Markets

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Texas Commercial Real Estate Markets

With commercial real estate markets experiencing their best year in 7 years, 2014 was an even better year for Texas, as it took the top spot in a report by NAIOP, the commercial real estate development association. Commercial real estate markets in the US spent more than $174 billion and supported nearly 4 million jobs with Texas accounting for nearly $42 billion of that. California, which took #2 in the list, by comparison spent only $13 billion in 2014. The top three commercial real estate markets (New York was #3 with $10.5 billion) accounted for more than 37.5% of the entire US markets expenditures.

image courtesy of JD Hancock

Marketing Your Commercial Real Estate Listings

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Dallas Skyline

Commercial real estate is a numbers driven business. Square feet, annual debt service, vacancy rates, operating expenses. Numbers, numbers, numbers. Because of this, many commercial real estate brokers focus on the bottom line – giving the purchaser the numbers ahead of everything else. For many commercial real estate consumers, this is what matters. Unlike their counterparts in the residential real estate world that are often driven by emotion, these buyers want to know “what’s it going to cost me?”

Reading through commercial real estate listings and viewing commercial real estate marketing materials, this is evident. But what if we took a step back and looked at it from a different angle?

While the numbers are important to a business owner and should never be neglected, some common sense marketing tips could boost your visibility and land more buyers for the property much faster. Sell the highlights of the property and the surrounding area. Is it luxury high rise condominiums? Sell the local shops and restaurants. Although the owner of the building might not think about the boutique down the street, his tenants are. While a business owner seeking an office space may only want to know what their operating costs are, their employees are going to care about what local restaurants are available to them on their lunch break. Paint a picture of what the owner’s employees will gain from the property and you can sell to their emotions just as much as their purse strings. Even though the numbers matter, many employers are now focusing on their employees’ experience so that they can retain them in a highly competitive world. Show them why they need this building over all the others. Show landlords why their tenants will want to stay for years, instead of one lease cycle.

By using language that evokes good emotions and stunning visuals that are pleasing to the eye, you can push your commercial real estate listings to the forefront of a buyer’s mind. While the numbers will always have to make sense to the buyer, going the extra mile in marketing can make the difference between two properties with few differences between them.

image courtesy of Oberheiden

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