lipsey’s seven key steps to winning a listing presented by michael j. lipsey presented by michael...
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LIPSEY’S SEVEN LIPSEY’S SEVEN KEY STEPS TO KEY STEPS TO
WINNING A LISTINGWINNING A LISTING
LIPSEY’S SEVEN LIPSEY’S SEVEN KEY STEPS TO KEY STEPS TO
WINNING A LISTINGWINNING A LISTING
Presented byPresented byMICHAEL J. LIPSEYMICHAEL J. LIPSEY
Presented byPresented byMICHAEL J. LIPSEYMICHAEL J. LIPSEY
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STEP ONESTEP ONESTEP ONESTEP ONE
KNOW YOUR CLIENT’S KNOW YOUR CLIENT’S OBJECTIVESOBJECTIVES
• Stabilize Rent Roll and add substantial credit
• Achieve highest Present Value and minimize Concessions, particularly Tenant Improvements
Through discovery, understand and know your client’s objectives
• Achieve 93% Occupancy by 12/31
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Tier 1
Industry Specific
Inexpensive
MostLogical
Large #
Finely Tuned
Tier 2
Tier 3
Tier 4 Logical Prospect
DATABASECOUNT
MARKETING MEDIUM
TARGET MARKET:TARGET MARKET:
STEP TWOSTEP TWOSTEP TWOSTEP TWO
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Pharmaceutical – Real Estate StaffBulk Mail/BC Email
Marketing Associate
Vice Presidents of Real Estate
Directors or Presidents of Real
Estate
CFOs
Associate Brokers
Senior Broker/ Associate Broker
Senior Broker
Marketing Materials &
Personal Call
Direct MailPersonal Call
Mission to Mission
TARGET MARKET:TARGET MARKET:
INDUSTRY SPECIFIC USERINDUSTRY SPECIFIC USER
STEP TWOSTEP TWO
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STEP THREESTEP THREESTEP THREESTEP THREE
• 50,000 SF of Net Absorption
• Achieve 92% Occupancy by 12/31
• Close 10 Leases at approx. 5,000 SF
LEASING PLAN:LEASING PLAN:
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STEP THREESTEP THREESTEP THREESTEP THREE
LEASING PLAN: LEASING PLAN: Assumptions – 9 Month Assumptions – 9 Month PlanPlan
55 Leases will require
10 Lease Negotiations
30 Letters of Intent
90 Proposals
360 Site Visits
2,160 Contacts
21,600 Units of Activity
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ACTIVITY Month 1
Actual Month 2
Actual Month 3
Actual
Units of Activity 2400 2400 2400
Contacts 240 240 240
Site Visits 40 detail 40 detail 40 detail
Proposals 10 docs 10 docs 10 docs
Letters of Intent 3 docs 3 docs 3 docs
Lease Negotiation 2 detail 1 detail 2 detail
Signed Leases 0 view 0 view 1 view
Cumulative Tenants
0 0 1
STEP THREESTEP THREE
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ACTIVITY Month 4
Actual Month 5
Actual Month 6
Actual
Units of Activity 2400 2400 2400
Contacts 240 240 240
Site Visits 40 detail 40 detail 40 detail
Proposals 10 docs 10 docs 10 docs
Letters of Intent 4 docs 3 docs 4 docs
Lease Negotiation 1 detail 1 detail 2 detail
Signed Leases 1 view 1 view 0 view
Cumulative Tenants
2 3 3
STEP THREESTEP THREE
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ACTIVITY Month 7
Actual Month 8
Actual Month 9
Actual
Units of Activity 2400 2400 2400
Contacts 300 300 300
Site Visits 40 detail 40 detail 40 detail
Proposals 10 docs 10 docs 10 docs
Letters of Intent 3 docs 3 docs 3 docs
Lease Negotiation 1 detail 1 detail 1 detail
Signed Leases 1 view 1 view 0 view
Cumulative Tenants
4 5 5
STEP THREESTEP THREE
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STEP FOURSTEP FOURSTEP FOURSTEP FOUR
SHOW COMPARABLES:SHOW COMPARABLES:
10kwizard.com10kwizard.com is an online site offering a wide variety of financial Information and data on publicly traded companies.
The site is easy to navigate, affordable (approx. $230/year) and offers online training and technical support.
SEARCH INTERNET SOURCES FORSEARCH INTERNET SOURCES FOR PUBLICLY TRADEDPUBLICLY TRADED COMPANIESCOMPANIES
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CoStar Verified National Data StatisticsCoStar Verified National Data StatisticsPROPERTY
Over 2.2 million verified and continuously updated properties
41 billion SF of inventory
3.9 million digital images
Over 800,000 for-sale and for-lease property listings
Over 1.5 Million store locations for retailers
Coverage in over 300 MSAs plus parts of UK & France
COMPSOver 1 million detailed comparable sales records valued at 2 trillion dollars
TENANT3 million plus tenants
PROFESSIONAL DIRECTORY750,000 real estate professionals nationwide
Commercial Real Estate News9,500 news stories in 2006 – major lease transactions, acquisitions, new construction, key personnel moves, and industry events.
CoStar Group is a research service utilized by
over 50,000 commercial real estate
professionals
STEP FOURSTEP FOUR
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STEP FIVESTEP FIVESTEP FIVESTEP FIVE
PRESENT VALUE RANGE FOR EACH PRESENT VALUE RANGE FOR EACH VACANCY:VACANCY:
1 - Yellow Key - PMT1 - Yellow Key - PMT
End of Period - EOPEnd of Period - EOP
Yellow Key – Yellow Key – MARMAR BEG/ENDBEG/END
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OF
FIC
E L
EA
SE
OF
FIC
E L
EA
SE
OF
FIC
E L
EA
SE
OF
FIC
E L
EA
SE
CALCULATE PRESENT VALUE:CALCULATE PRESENT VALUE:
N
I
PV
PMT
Term: 5 YearsSpace: 10,000 sq. ft.Rent: $25 sq. ft.Discount Rate:10
STEP FIVESTEP FIVE
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PRESENT VALUE RANGE FOR EACH PRESENT VALUE RANGE FOR EACH VACANCY:VACANCY:
STEP FIVESTEP FIVE
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OF
FIC
E L
EA
SE
OF
FIC
E L
EA
SE
OF
FIC
E L
EA
SE
OF
FIC
E L
EA
SE
CALCULATE PRESENT VALUE:CALCULATE PRESENT VALUE:
N
I
PV
PMT
10 into I10 into I
5 into N5 into N
$250,000$250,000
Term: 5 YearsSpace: 10,000 sq. ft.Rent: $25 sq. ft.Discount Rate:10
$947,696$947,696
STEP FIVESTEP FIVE
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IND
US
TR
IAL
LE
AS
EIN
DU
ST
RIA
L L
EA
SE
IND
US
TR
IAL
LE
AS
EIN
DU
ST
RIA
L L
EA
SE Space: 50,000 sq. ft.
Term: 7 Years
Rent: $7 sq. ft.
Discount Rate:9
CALCULATE PRESENT VALUE:CALCULATE PRESENT VALUE:
N
I
PV
PMT
9 into I9 into I
7 into N7 into N
$350,000$350,000
$1,761,533$1,761,533
STEP FIVESTEP FIVE
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BRACKETING THE COMPSBRACKETING THE COMPS
10,000 sq. ft. - 5 yr. Term - $25/sq. ft. - Discount Rate 1110,000 sq. ft. - 5 yr. Term - $25/sq. ft. - Discount Rate 11
N I PMT = PVN I PMT = PV
10,000 sq. ft. - 5 yr. Term - $19/sq. ft. – Discount Rate 1110,000 sq. ft. - 5 yr. Term - $19/sq. ft. – Discount Rate 11
N I PMT PV = N I PMT PV =
AVERAGE PVAVERAGE PV
STEP FIVESTEP FIVE
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BR
AC
KE
TIN
G T
HE
CO
MP
SB
RA
CK
ET
ING
TH
E C
OM
PS
N
I
PV
PMT
N
I
PV
PMT
11 into I11 into I
5 into N5 into N
$250,000$250,000
$923,974$923,974
11 into I11 into I
5 into N5 into N
$190,000$190,000
$702,220$702,220
STEP FIVESTEP FIVE
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PRESENT VALUE EACH VACANCYPRESENT VALUE EACH VACANCY
10,000 sq. ft. - 5 yr. Term - $25/sq. ft. - Discount Rate 1110,000 sq. ft. - 5 yr. Term - $25/sq. ft. - Discount Rate 11
N I PMT = PVN I PMT = PV
10,000 sq. ft. - 5 yr. Term - $19/sq. ft. – Discount Rate 1110,000 sq. ft. - 5 yr. Term - $19/sq. ft. – Discount Rate 11
N I PMT PV = N I PMT PV =
$813,097$813,097MID POINTMID POINT
5 into N 11 into I $250,000
$923,974$923,974
5 into N 11 into I $190,000
$702,220$702,220
STEP FIVESTEP FIVE
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BRACKETING THE COMPSBRACKETING THE COMPS
10,000 sq. ft. - 5 yr. Term - $20/sq. ft. - Discount Rate 1010,000 sq. ft. - 5 yr. Term - $20/sq. ft. - Discount Rate 10
N I PMT = PVN I PMT = PV
10,000 sq. ft. - 5 yr. Term - $15/sq. ft. – Discount Rate 1110,000 sq. ft. - 5 yr. Term - $15/sq. ft. – Discount Rate 11
N I PMT PV = N I PMT PV =
5 into N 10 into I $200,000
5 into N 10 into I $150,000
$758,157$758,157
$663,387$663,387MID POINT OR 50-YARD LINEMID POINT OR 50-YARD LINE
$568,618$568,618
STEP FIVESTEP FIVE
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STEP SIXSTEP SIXSTEP SIXSTEP SIX
AFTER TOUR.COMAFTER TOUR.COM
AfterTour.com is the industry’s only online system for real time reporting, allowing commercial brokers to: •Provide instant property tour feedback to their clients
•Increase client satisfaction
•Win more listing presentations
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STEP SIXSTEP SIXSTEP SIXSTEP SIX
AFTER TOUR.COMAFTER TOUR.COM
AfterTour.com instantly let Owners know how prospects feel about:
•Pricing•Property amenities•Space layout•Demographics•Transportation•Parking•Security… and much more
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STEP SIXSTEP SIXSTEP SIXSTEP SIX
AFTER TOUR.COMAFTER TOUR.COM
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STEP SIXSTEP SIXSTEP SIXSTEP SIX
AFTER TOUR.COMAFTER TOUR.COM
This simple, easy to use, system of reporting
keeps Owners fully informed while allowing
you, the Broker, to focus on business
development – not transaction management.
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STEP SIXSTEP SIXSTEP SIXSTEP SIX
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STEP SEVENSTEP SEVENSTEP SEVENSTEP SEVEN
AFTER LEASE SERVICES:AFTER LEASE SERVICES:
Calculate Pass-throughs and Escalations
Appraisal of Vacancy
Lease Comparisons
Competitive Analysis
Green Buildings and LEED Certification