Customer Reviews

The Fundamentals of Listing and Selling Commercial Real Estate

5 star:		(10)
4 star:		(0)
3 star:		(1)
2 star:		(1)
1 star:		(0)

 

 

There has been no shortage in books on the topic for investors in commercial real estate, unfortunately, it does not seem as if many books have been written about the brokerage aspect of the business. I did a little research before I purchased this one, and have even read a couple that focus on the industry in general.
When I saw "The Fundamentals of Listing and Selling Commercial Real Estate' by Loren Keim, I ordered it immediately. I thought, "finally, a comprehensive resource that I can use to develop a base knowledge of the industry while I continue to learn and grow; this is fantastic!" I even read some of the passages online before I even purchased it, and was thoroughly impressed with its level of sophistication.
What sold me were the other reviews that I read before I ordered. They were all great, and the authors even shared some of the same problems that I had with regards to the other commercial real estate books. They had actually established a common ground with me.
Then I received it and began reading immediately. The level of detail is something I appreciated, but emphasizing every single type of retail opeations almost put me in a coma. Also, the quality of writing left much to be desired. I suddenly became suspicious about the rave reviews that I had read on this very website, and lo and behold, they were all written by people from Pennsylvania, the same area that the author is from. Pure coincidence? I doubt it, because all of the reviews were truly exaggerated.
I did provide three stars, just because of the pure limited availability of books on commercial real estate brokerage. So, if anyone is reading this and is an experienced commercial real estate broker with strong writing ability, there is absolutely an opportunity for you to enter this book niche!

In the past, I had been disappointed when reading other books about Commercial Real Estate. I've seen real basic introduction books, books that define investment and commercial terms, but don't really explain them, and books that just paste together checklists about selling investment property or commercial property.

This book was totally different. "The Fundamentals of Listing and Selling Commercial Real Estate" was entertaining. It was understandable. And it helps lay out exactly what to do in order to succeed in commercial and investment real estate.

The Fundamental's part of the book is the best resource for commercial brokers I've ever seen. There are explanations of each subcategory of commercial property, not just the basics, and the terminology associated with each subcategory is in easy to understand language. There are wonderful explanations of all the various ways to calculate return on investment, why each one is preferred by some investors or commercial real estate buyers, and how to look outside the box for commercial financing sources. There's even a section on negotiating leases, the benefits of various types of commercial leases, and what clauses are practical to add.

The Practical part of the book lays out a complete game plan for success in your career, including step by step instructions for some prospecting and marketing methods, sample letters, and dialogues. It even lays out how to write a letter of intent and full contract.

I can't tell you how impressed I was with this book. If you're selling commercial real estate, this SHOULD be part of your library of information.

This is THE "how to" guide for a career in Commercial Real Estate sales, and it is also good for buyers and sellers of commercial property to understand pricing, positioning and investment strategies for their real estate.

The book is broken into two sections. The first section, titled "The Fundamentals" explains all the various forms and types of commercial property types and how each is analyzed, compared and evaluated. The rest of the section is dedicated to explaining the process of investment property analysis (in plain english), understanding commercial leases, understanding commercial mortgages, zoning issues, and market analysis techniques. This section includes examples, figures and tables, including step by step instructions in the use of Microsoft Excel and financial calculators (which I believe is missed by virtually every other commercial real estate text).

The second section of the book is called "The Practice" and it integrates the foundation learned in the first section with training in the sales process and specific techniques used by successful commercial Realtors. This section includes many prospecting methods, creation of successful buyer presentation and listing or seller presentations, negotiation techniques, client servicing, property inspections, due diligence and sales contracts.

Overall, this is an exceptional book for real estate agents considering a change to commercial real estate, people just getting their licenses, or investors to understand the other side.

Fundamentals...yes. Informative....no. Relaying the marketing strategy of "calling other brokers" and other basics was I thought....and I say this knowing "fundamental"....common sense.

If the property is a class "A" property with tripe "A" credit tenants, why not mention that insurance companies and hedge funds would love to buy them and who to talk to at these companies. And again, mention that Class "A" can be sold at 6%-7% market cap instead of a higher 10%+ because they are way less risky. And how about Class "B" and "C" apartment complexes....who would like to buy those? Etc, etc. etc.

And....way more about purchase/leaseback programs. This stuff REALLY needed to get into the book.

Leasing commercial retail....did you mention how to get the specs from national chains (Starbucks) or the national convention every year? How about preparing a package for those chains for their feasability studies, creating a 5, 10, and 15 mile radius market analysis?

Sticking your listing in "Loopnet" is not what I call a marketing stategy. Great reading for a residential agent who knows NOTHING about commercial. And then just enough knowledge to embarris himself in a presentation.

I read this book when I was involved in commercial real estate brokerage because I wanted to learn how to be a better broker. There was almost nothing available on this topic so I was glad to find this book. It talks about how buyers and sellers engage in commercial real estate for different reasons than buyers and sellers of residential real estate. Therefore, brokers need be equipped with a different skill set designed to service these clients.

The book starts off with description of different types of commercial property ranging from office, retail, hospitality, multi-family, to senior housing. Then, it goes on to teaching readers how to prepare an investment analysis and listing presentation. It also educates about commercial leases, commercial mortgages, prospecting, and working with buyers. Commercial real estate brokers are likely to find this book helpful.

- Mariusz Skonieczny, author of Why Are We So Clueless about the Stock Market? Learn how to invest your money, how to pick stocks, and how to make money in the stock market

I had been looking for a book that explained the technical aspects and the sales techniques of commercial real estate. This book combines them both. There is a lot of meat in this book instead of fluff. I highly recommend it!

Commercial real estate is an extremely complex arena loaded with a minefield of legal, financial and emotional pitfalls investors, buyers, and sellers of commercial property must avoid.

Loren Keim cuts through the fluff in his new book "The Fundamentals of Listing and Selling Commercial Real Estate" to highlight and explain the basics of commercial real estate transactions from how a commercial property should be analyzed and compared with other commercial real estate, how the income of the property should be analyzed and what financing methods are available and how to talk like a pro with all the commercial broker and investor lingo that's thrown around in the real estate industry.

This particular book should be mandatory to read for any real estate agent planning to represent a commercial property or an investor. The explanation of marketing commercial real estate in the Internet age, and the samples and dialogues alone are worth the price of admission.

The Fundamentals of Listing and Selling Commercial Real Estate

This commercial real estate guide is exceptional. It's very good for realtors or investors just starting their careers selling or investing in commercial real estate or any investment real estate. It's just as good for seasoned professionals.

The sections on the "Basics" of commercial real estate really outline the various ways investors and commercial property buyers look at the value of different kinds of property, and why the writer believes some are strong methods of evaluation, and why some are very weak. He covers everything from cap rates and gross rent multipliers to an in depth look, in plain English, at Internal Rate of Return and Present Value calculations, making them understandable to the lay person.

Keim also explores all the various types of commercial property found on Loopnet, which is lacking in other texts which limit the reader's scope to just commercial, industrial and multifamily. He takes time to explain the pros and cons of business brokerage, hospitality properties and hotels, senior care property development, property management systems and even explains how developers might consider a property for multifamily vs hotel vs timeshare development.

What I thought was the best part of the book for new and advanced commercial realtors, though, was the outline of how to proceed in a career, including scripts, dialogues and even samples.

Simply the best read for the commercial real estate industry.

This is a solid introduction to commercial real estate. As a residential agent, I didn't understand many of the terms used to describe commercial real estate, the mortgages, the analysis. This is an easy to read book that actually steps through what type of property you're looking at, how it's compared with other similar properties and how to do the math in really basic understandable terms.

The second half of the book is about building your career and your business. Where should you prospect? What should you put in a listing presentation? How can you work on behalf of retail tenants and so on.

Really a solid book packed with a great deal of information. This is a reference we should all have on our desk.

Whether you're a real estate agent selling commercial and investment property or an investor purchasing and selling commercial real estate, the field of Commercial Real Estate Sales and Investment Property Sales is very complex, with a language all its own.

Challenges in commercial real estate sales include mathematical projections, return calculations, zoning issues, legal issues, contract issues, environmental inspections, tax consequences and the entire minefield lately of commercial mortgages and loans.

In the "Fundamentals of Listing and Selling Commercial Real Estate", Loren Keim, the author, has made the complex understandable with an easy-to-read book. An excellent job, I give it 5 stars!