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Hiring

EXPECTATIONS WHEN HIRING A REAL ESTATE BROKER

Expectations When Hiring A Real Estate Broker Photo

EXPECTATIONS YOU SHOULD HAVE WHEN
HIRING A REAL ESTATE BROKER
When a firm engages the services of a licensed real estate broker, what should be the expectation in terms of service and performance? There are many areas to note, but I will mention three that I believe are most important.

Experience.
Enthusiasm and hard work can make up for many deficiencies. There is no question that those two qualities are critical to any successful real estate assignment. However, people just beginning their careers in the brokerage business don’t start by tackling the most difficult deals. Standard practice in the industry is for a young person to be partnered with, and mentored by, a more seasoned veteran. There is much at stake in any real estate deal. Understanding how to structure the proper deal, familiarity with existing market conditions, editing lease language, and negotiating with area landlords generally is earned by riding the coat tails of a more experienced broker and on-the-job experience. Most of what I have learned over the years has come through time spent with experienced and competent landlords, attorneys and contractors . . . and making plenty of mistakes!!!

Honesty.
Absolutely essential! When any firm, large or small, places its trust in an individual broker, particularly with what’s at stake in a real estate deal, the broker must present an “open book” of himself and the deals he presents to the client. If a landlord is offering a special broker trip or bonus for concluding a deal, the client needs to know. If the broker represents a building they are recommending to the client, the client needs to know. A perceived conflict is sometimes worse than an actual conflict. In every instance, without exception, the broker must do what is best for the client.  There should be total transparency from start to finish.

Value.
The broker must provide value in every step of the process. If there is no value, what benefit is there to the client? Value comes in many forms and weighted differently by various firms. However, successful firms are focused firms, and taking the time required to complete a real estate deal can easily eat up lots of time . . . and money!!! Expecting a full-time employee with no experience or knowledge to represent the firm’s best interests in the marketplace is foolish. Landlords know their business, and you know yours; and someone needs to be an advocate for the client.

Looking For A Great Real Estate Broker? Look No Further!!!
Industrial Brokers:
Fred Hedberg, CCIM, SIOR, Principal
Phil Simonet, Principal
John Young, CCIM, Vice President
Joseph Schultz, Associate
Jack Buttenhoff, Associate

Office Brokers:
Nancy Powell, Vice President
 
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Is Your Physical Space Helping or Hurting Your Hiring Efforts?

Is Your Physical Space Helping or Hurting Your Hiring Efforts?

Is Your Physical Space Helping or Hurting Your Hiring Efforts?
Today, dozens of colleges in the Minneapolis/St Paul metropolitan area are pumping out graduates.  Graduates who are eager to find jobs as well as a great company to work for.  While you might believe you have the right space to attract the best candidates, it might be a good time to step back and reflect on what you have to offer and what these graduates want so that when this fresh batch of interviewees sit down to talk, you know what your company’s commercial real estate space says about your company.
Research shows, the current generation of graduates expect more from the companies they work for than generations of the past.  This group values freedom, independence, and creative space.  They view their office as a second home and they want to enjoy going there every single day.  With the unemployment rate hovering around 3% and the knowledge that the average person will likely change jobs 12 times in their careers, you better believe your employees will find the work environment they are looking for if your company doesn’t have it.
Paramount recently represented a food distribution company, where the president expressed a desire for space that reflected the company’s culture.  After considering several spaces that would have resulted in lower occupancy costs, leadership ultimately selected space that was more expensive but had amenities including a roof top patio overlooking the city that would allow their team to gather and test their product.  For this company, it was critical that employees would interact with each other and their product on a regular basis.   It was worth the extra expense to have a space that could support an outdoor grill area to make it happen.
How do you make your space reflect your culture?
So how do you make your space reflect your culture?  Location, architecture, physical layout, furniture design, color, work spaces, and amenities are all aspects that can reflect your company culture. Today’s job seekers do consider these physical attributes when deciding where they want to work every day.  So take some time and think to yourself; “does this space make me excited about working here?  Does it embody the culture of the company?  Is it functional?  What aspects of your company’s space can be changed and altered to better reflect your culture and company goals?
Some ideas you might consider: Health & sports enthusiasts might cause you to look for space close to biking trails, space with fitness facilities and showers, you might even add bike storage options.  If you’re a creative marketing company you might try looking for unique architecture or a visually appealing space lay out.  Maybe all you need to do is add a few tap beers, an air hockey table, and a flat screen TV to up the “fun” factor.  Whatever you do, make sure you are consistent with your message regarding your company culture.  Make sure you appeal to the types of people you want to work for you.
Does Your Company Need New Space?
Call Paramount.
(952) 854-8290