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Plan, Start, and Lead a Commercial Division in Your Market Center. Schuyler Williamson. Schuyler Williamson. Austin, Texas Director, KW Commercial. Please complete an evaluation form found in the back of your program guide. Why Have a Commercial Division in Your Market Center.
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Plan, Start, and Lead a Commercial Division in Your Market Center Schuyler Williamson
Schuyler Williamson Austin, Texas Director, KW Commercial Plan, Start, and Lead a Commercial Division in Your Market Center
Please complete an evaluation formfound in the back of your program guide. Plan, Start, and Lead a Commercial Division in Your Market Center
Why Have a Commercial Division in Your Market Center • Capping agents • Average KWC agent volume: $3.05M • Average director volume: $4.75M • Increased residential company dollar • $125M in referral volume • Recruit to a full service business Plan, Start, and Lead a Commercial Division in Your Market Center
The Plan • Learn some commercial real estate basics • Create a strategy for your commercial division • Grow your commercial division • Support and retain your commercial division Plan, Start, and Lead a Commercial Division in Your Market Center
Commercial Basics Plan, Start, and Lead a Commercial Division in Your Market Center
Commercial Basics The main segments of your commercial division will include professionals engaged in the following: • Office Buildings • Industrial/Flex/Warehouse • Retail/Restaurant • Multifamily • Land • Miscellaneous Plan, Start, and Lead a Commercial Division in Your Market Center
Commercial Basics (cont.) Commercial organizations: • CCIM: Certified Commercial Investment Member • SIOR: Society of Industrial and Office Realtors • NAIOP: National Association of Industrial and Office Properties • ICSC: International Council of Shopping Centers Plan, Start, and Lead a Commercial Division in Your Market Center
Similar models: NAI Global, $55B Marcus & Millichap, $22B RE/MAX Commercial, $7B Coldwell Banker Commercial, $6B Sperry Van Ness, $6B Commercial Basics (cont.) • Top brokerages: • CBRE, $189B • Jones Lang LaSalle, $108B • Cushman & Wakefield, $88B • Colliers International, $71B • Newmark Grubb Knight Frank, $69B Plan, Start, and Lead a Commercial Division in Your Market Center
Your Commercial Strategy Plan, Start, and Lead a Commercial Division in Your Market Center
Commercial Division Business Plan 1-3-5 for the Market Center commercial division should address: • Long-term structure of the commercial division • Whether there is a managing director • Policy for how residential and commercial agents work together • Economic model and value propositions Plan, Start, and Lead a Commercial Division in Your Market Center
Commercial Division Structure Plan, Start, and Lead a Commercial Division in Your Market Center
Large Market, Managing Director Plan, Start, and Lead a Commercial Division in Your Market Center
Managing Director • Determine the responsibilities: • Recruit senior agents • Train junior agents • Broker of commercial division • Establishes office policies and procedures • Determine the plan to compensate: • Compensation must equal time expected • Qualities to identify: • Proven production for length of time • Strong local reputation • Cultural fit Plan, Start, and Lead a Commercial Division in Your Market Center
Policies and Guidelines • Commercial agent on Associate Leadership Council. • Establish criteria for who can be a KWC agent and who can execute a commercial transaction. • Establish guidelines for how referrals will be executed. • Outline how leads are distributed within commercial team. Plan, Start, and Lead a Commercial Division in Your Market Center
Market Center Value Proposition • Same cap as residential agents: • Culture • Administrative support • Office space and production resources • Additional cap: • Commercial training • Residential referral program created and enforced • Broker transaction support • Paid-for services, i.e., CoStar • Commercial assistant and/or researcher Plan, Start, and Lead a Commercial Division in Your Market Center
KW Commercial Value Proposition • Commercial Business Solution: • Contact management system • Prospecting information • Financial analysis • Marketing • Market data and reports • Training curriculum including Lipsey Company materials • Network of 1,300+ commercial brokers Plan, Start, and Lead a Commercial Division in Your Market Center
KW Commercial National Accounts • Executive Vice President, KW Commercial • Rich Uzelac • Program overview • Broker requirements Plan, Start, and Lead a Commercial Division in Your Market Center
Grow Your Commercial Division Plan, Start, and Lead a Commercial Division in Your Market Center
How to Find Commercial Agents • Search within organizations: • CCIM • SIOR • NAIOP • ICSC • LoopNet search in your area • CommercialSearch.com search in your area • Competitor websites Plan, Start, and Lead a Commercial Division in Your Market Center
CCIM Search Plan, Start, and Lead a Commercial Division in Your Market Center
CCIM Search (cont.) 127 agents • Phone numbers • Email addresses • Websites Plan, Start, and Lead a Commercial Division in Your Market Center
SIOR Search Plan, Start, and Lead a Commercial Division in Your Market Center
SIOR Search (cont.) 12 agents • Companies • Phone numbers • Email addresses • Websites Plan, Start, and Lead a Commercial Division in Your Market Center
Competitor Search Plan, Start, and Lead a Commercial Division in Your Market Center
Competitor Search (cont.) 40 agents • Specialties • Phone numbers • Email addresses Plan, Start, and Lead a Commercial Division in Your Market Center
Speaking to Transitioning Residential Agents: Commercial Pros/Cons Cons • Start-up time • Longer deal time • Competition • Identifying and getting in front of clients • Focus/Specialization • Cost of data sources Pros • Larger commissions • Business hours • Professional clients • More objective decision-making • Year-round deals Plan, Start, and Lead a Commercial Division in Your Market Center
New Member Trends Plan, Start, and Lead a Commercial Division in Your Market Center
Recruiting Tools • 12 Touch recruiting campaign • KW Commercial Orientation webinar • KWRI and Executive Council support • Leadership and recruiting tools tab: • Recruiting slideshow • KW Commercial benefits flier • KW Commercial recruiting brochure Plan, Start, and Lead a Commercial Division in Your Market Center
KW Commercial Metrics • 1,262 KW Commercial members • $3.9B in production volume • $125M in referral volume *As of December 2013 Plan, Start, and Lead a Commercial Division in Your Market Center
Retention Plan, Start, and Lead a Commercial Division in Your Market Center
Retention Plan, Start, and Lead a Commercial Division in Your Market Center
Next Steps • Add a commercial division strategy into company 1-3-5 • Address commercial activities in the company policies and guidelines • Become familiar with KW Commercial’s value proposition and composition • Hire Director or Managing Director to set the standard in the division Plan, Start, and Lead a Commercial Division in Your Market Center
Thank You! Please complete an evaluation form found in the back of your program guide. To download a free copy of this presentation, GO TO: www.familyreunion.kw.com/downloads