Your Press Releases Will Bring You Deals- Use Them

 

YOUR PRESS RELEASES CAN BE YOUR TOP MARKETING TOOL.

It is human nature means to rubberneck at traffic jams. The same pull that causes us to rubberneck at a fender-bender, or to linger, and listen to colleague’s war stories, is the same force that can market your services, close more deals, and make you more money.

 

My office issues press releases on our real estate closings and lease assignments because they work.  Within days of a press release announcing a successful sale, our office is typically bombarded with calls from other agents, Principals (Buyers and Sellers) and of typically service providers such as appraisers.

 

Why? Good old fashioned networking is part of the reason. But, a big part is wanting to KNOW what other CRE professionals are up to. A smart salesperson wants to know what deals are closing, and why. Like when we sold a 156 unit apartment complex (Austin Business Journal Article here: http://bit.ly/abj3deals30days  ) Over the course of months and years, I feel like I have gotten to know other agents through their body of work, that I read about in their press releases, social media or traditional media articles such as the local business journal.

 

You can do this. If you don’t know how to use social media, try out a simple post on Facebook. Or, add a link to your signature block about your closed deal. Clients, service providers, and buyers/sellers love to hear about your success and you will close more deals. Several weeks ago, our office sold a NNN Verizon building (Link here: http://bit.ly/verizonsoldpressrelease ). The press release went out to our national database. A local Buyer/Principal read the article, and called me while I was in a taxi in Chicago. “Do you have any more NNN retail assets?” he said. My answer was affirmative (yes). I told him about a retail strip center in North Austin which my brokerage partner and I had sold to a group back in 2011.  I knew the Owner of the retail strip center was considering a sale. Long story short, we put together an Offer to represent this caller as his Buyer’s Agent, and less than 7 days later, the Property is in contract.

 

PRESS RELEASES WORK. They will work for you. Your friends, customers, clients, and competitors love reading them. Your success will result in more deals, more closings and more income. If you do sell something due to a press release, I would love to hear about it, and re-post your success.

 

	Jim Young, CCIM West Point ‘94 512-565-7509 jimyoung@kwcommercial.com My Experience-Team Profile
1801 S Mopac, Suite 100, Austin, TX 78746

 

Brokers & Sellers: Our Buyer Needs:  CLICK HERE

 

CIRE Magazine - My Multifamily Interview

I was recently interviewed for a CIRE Magazine-magazine of the CCIM Institute. Here are the questions and my answers:

 

• Tell us about a recent multifamily transaction.

101 Bowmans Walk is a 100 unit property located in Round Rock, Texas, just north of Austin. JimYoungCCIM/NickNelson CCIM work with a group of investors from Japan, and purchased this site in an off market transaction. The off market nature made negotiations simple and has been our preference for many of our multifamily buyers.

• Describe multifamily investment and transaction activity in your market.

Multifamily investment is hot in the Austin/Central Texas Area. There is no other way to describe the fact that many properties in Class C or Value-Add in the Austin MSA are receiving more than 3-5 offers. Many of those offers contain non-refundable Earnest Money on Day1. Feasibility periods are shorter, and closing times are even shorter. The Multi-Family Agents and Investors I know say that they are pursuing more transactions now than in the previous 2 years.

• Who's buying and selling?

Everyone. My office receives 2-3 inquiries or referrals each week from Buyer-Investors from:  California, NewYork, China, Japan and Canada. Sellers are much tougher. Many sellers see both the rental rate increase as a reason NOT to sell, and that cap rates have continued to compress.

• What is the cap rate movement?

Cap rates continue to compress in the hot areas such as the CBD, East Riverside, South Congress/Lamar/1^st (trendy areas).

• If multifamily supply has increased in your market, how has it affected renter demand and rent growth?

The best example I can give of increased supply affecting rental rate growth is the Austin Central Business District. Austin’s CBD has a considerable share of the overall new multifamily supply. Rental rates have hit near $3/foot in many CBD properties. However, one of my clients recently moved from California and was given free parking, and other rent concessions in a downtown Class A Multifamily complex that amounted to 3 months free rent.

 

 

	Jim Young, CCIM West Point ‘94 512-565-7509 jimyoung@kwcommercial.com My Experience-Team Profile
1801 S Mopac, Suite 100, Austin, TX 78746

 

Brokers & Sellers: Our Buyer Needs:  CLICK HERE

 

Closing Tomorrow- 100 Unit Apartment Complex - Round Rock Texas

 

 

 

DETAILS COMING TOMORROW…

 

ANOTHER OFF MARKET DEAL FOUND FOR A CLIENT.

 

 

100 Units

 

Round Rock, TX

 

 

 

 

 

 

 

 

 

	Jim Young, CCIM West Point ‘94 512-565-7509 jimyoung@kwcommercial.com My Experience-Team Profile
1801 S Mopac, Suite 100, Austin, TX 78746

 

Brokers & Sellers: Our Buyer Needs:  CLICK HERE

 

CCIM Chapter Happy Hour: 8/27/14

 

 

Open to All—

Come Check Out CCIM & Network with CCIM Members, Commercial Owners & More.  Find out Benefits of CCIM.

 

   LINK HERE

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

	Jim Young, CCIM West Point ‘94 512-565-7509 jimyoung@kwcommercial.com My Experience-Team Profile
1801 S Mopac, Suite 100, Austin, TX 78746

 

Brokers & Sellers: Our Buyer Needs:  CLICK HERE

 

$3M Buyer need/help

Readers,
I got following email from the financial adviser to a high net worth client and I could really use your help to identify an Owner who would sell the following described asset(I will be Buyer Agent) :

"have a client seeking a smaller NNN or NN deal, credit preferred but no essential if local credit, in the $2 -2.5MM range. Cap rates in the 6+ range. Single tenant or small strip center. Not a 1031 exchange, and a client of the Private Bank. Austin and surrounding area preferred. Please keep me in mind".

Jim Young, CCIM
512-565-7509
Sent from my iPhone