Commercial property development is the process of turning a raw piece of land into a functioning place of business. It is an exciting field that involves a wide range of skills.
The best commercial property development companies have a lot of experience in the industry. They also have strong negotiating skills. They know that tenants are business people and will approach lease negotiations with a savvy mindset.
- Excellent Communication Skills
In commercial real estate development, communication is a critical skill that enables professionals to convey complex and detailed information in ways that their clients can understand. It includes verbal and written communication, as well as listening and interpreting. It also includes building trust and relationships with stakeholders. Interpersonal communication is a particularly important skill in property development because it allows team members to find common ground, demonstrate empathy and build bonds.
In real estate, it’s important to communicate clearly with both clients and vendors. Developing strong communication skills will help you keep everyone up to date on developments and changes in plans, as well as address any issues that may arise in a timely manner. It’s also important to communicate in a way that suits each client’s preference.
- Strong Negotiation Skills
Negotiation skills are a highly valued leadership skill in the business world. Effective negotiators help companies achieve their objectives and build positive relationships with stakeholders. They also increase profitability and goodwill for their organizations by leveraging strong negotiation strategies.
Effective negotiators have a strong understanding of the interests of their counterparty and can find areas where compromise can be made. They can anticipate objections and prepare counteroffers in advance to be ready to respond quickly. They are skilled at listening attentively during the negotiation, both verbally and by reading body language. They know when to use silence during a negotiation, and they understand that using the right words can be a powerful negotiating tool.
If you are looking for commercial property development companies, it is important to look for one with strong negotiation skills. When interviewing for a position that requires negotiation skills, be prepared to share examples of your successful negotiation experience. It will demonstrate that you have the necessary skills for this role and can contribute to the success of the company.
- Excellent Organizational Skills
When preparing to interview for a commercial property development job, it is important to highlight your organizational skills in your application, resume, and cover letter, and during the interview. The best way to do this is by providing examples of how you have used your organizational skills at previous jobs. Make sure your examples are specific and detailed, and include metrics where possible.
You can also use your organizational skills to manage risk during commercial real estate development. It can take up to five years for a commercial property project to go from inception to completion, and you must be able to anticipate and overcome challenges along the way. For example, the economy may change, or you might encounter unforeseen delays such as environmental issues or permitting.
- Excellent Customer Service Skills
Customer service skills are the Holy Grail for many business leaders. They are the keys to boosting profits and achieving customer satisfaction. But they are also the hardest “soft” skills to develop and sustain. The most important customer service skills include empathy, positive thinking, patience, and clarity.
Customers want their problems to be addressed promptly and effectively, and they need a rep who is empathetic and can sympathize with their feelings. They also need someone who can provide them with alternative options to resolve their issues so they don’t feel like they are being treated unfairly.
Lastly, they need someone who can be flexible and change their approach as the situation requires. For instance, if a customer starts with live chat and the issue is too complicated for that medium, they need to be able to switch over to phone calls or email.