Increasingly, brokerages are offering their associates a menu of compensation arrangements, from the traditional commission to salary plus bonus to hybrid plans that cap commission in exchange for other incentives--and associates are going for it.
Industrial and office practitioners around the country are reporting a slowdown, though slight, in the absorption of space among dot-com and other Internet companies—a group that has been one of the demand drivers for both office and industrial space in recent years. But don’t fret. The Internet economy is just beginning its long-term run-up.
In an age when top office and retail properties regularly sell for millions, if not hundreds of millions, of dollars, there probably aren’t too many residential salespeople who don’t occasionally think about switching to the commercial side of the business.
Landing a deal with a top-tier client. Breaking into a new international market. Being named No. 1 salesperson in a global commercial company. That’s the stuff we were looking for when we set out to identify four commercial practitioners—specialists in industrial, office, property management, and retail--for this month’s cover profiles.
As an alternative to rent, some owners are accepting warrants that allow them to buy stock before it’s available to the public--a risky strategy, particularly as venture capital for dot-coms dwindles, but one that offers the possibility of a big payoff. Other owners are requiring fledgling high-tech companies to pay a year’s rent in advance.
E-commerce’s precise impact on retail sales remains hazy. But few question that there’ll be an impact--a large one. Although projections of online retail have convinced some that the growth opportunities in bricks-and-mortar retail space will wane, others see new space opening up.