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Broker/technicians now the norm.

Welcome to 1993.

Exit the dinosaurs. Enter the age of the broker-technician.

There once was a time when a broker could stroll a tenant over to a building and say, "Do you like it?" And he was paid a commission for it.

I miss those days. But leases aren't just leases anymore. They're corporate assets. Or liabilities. During the past decade, the impact of real estate decisions on a company's bottom line became the concern not only of corporate real estate departments, but CEOs, CFOs, analysts and shareholders.

That's why I believe that brokers today merely as a matter of survival must re-chart their learning curves in order to master the professional education demands set by today's marketplace.

Just as a successful professional sports team often attributes a part of it success to an intensive physical training program (ask the Knicks' Pat Riley), we at Koeppel Tenet Riguardi, Inc. (KTR), believe that having the best educated brokers creates a winning edge. That's why we have created a 13-part series of sophisticated, technical courses for our brokers. KTR sponsors seminars conducted by the top lawyers, architects, accountants, appraisers, engineers and sales experts who disseminate practical, useful information.

For example, we want our brokers to be expert in the costs and mechanics of building out space, the affects of a lease on the corporate balance sheet, the intricacies of bankruptcy law, the mechanics of real estate calculations and the techniques of successful salesmanship. Rest assured that the education program and the commitment to excellence does not stop here in the age of the broker-technician.

The downsizing or elimination of corporate real estate departments - the result of mergers and acquisitions and consolidation -- has created a vacuum. The new generation of real estate companies now must be able to function as a company's real estate department or as an extension of downsized r.e. departments.
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Title Annotation:real estate brokers must learn financial skills for success in current real estate market
Author:Jakness, Ted
Publication:Real Estate Weekly
Date:Jan 27, 1993
Words:311
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