In commercial real estate brokerage, it is easy to be overwhelmed with regular issues and events. They sometimes distract you from the ultimate goal of the business and that is sales. A sales commission is generally a good commission providing you control the listing stock exclusively. The word ‘exclusively’ is really important in that business formula. So you need some ‘hot sales tips’.
What are the Sales Facts?
So let’s go back to the sale event. Everything can lead to a sale over time. Think about these facts:
- A leasing transaction puts you in front of people that will eventually require sales assistance
- A property management appointment is very likely to one day be a sale requirement
- A tenant that you serve today is likely to be a buyer in the future
- A landlord today is likely to be a seller of property in the future
So everything leads to a sale opportunity at some stage. That is why it is of real value if you are a specialist locally in all facets of our industry; or at the very least you can pull in another person from your team that can service the other specialist property requirement of leasing or property management.
The Winning is the Start
When you win the listing, what do you do? You shape it and nurture it to a positive outcome. I go back to the point that ‘exclusivity’ is so important in our game, especially in sales. If you want to get a reasonable level of control on and over your real estate business, you will have to convert at least 75% of your listing opportunities exclusively.
Here are some ‘hot sales controls’ to help you get more results on the new business you convert to listings:
- Connect with your clients at least twice per week – When you have won the listing and the commitment of the client, the communication process is very important as you move through the marketing campaign. Keep them fully briefed on enquiry, marketing, inspections, and negotiations. Talk to them regularly and see them for that all important ‘personal touch’.
- Refresh your marketing of listings – A listing will get ‘stale’ if you don’t refresh it online and in your direct marketing. As a general rule all exclusive listings should be refreshed each 2 weeks with varied photographs and advertising copy.
- Negotiation check sheets – Track your marketing and negotiations for each listing in a special check sheet. It can be a simple spreadsheet where the stages of property promotion, inspection, and negotiation are tracked. The very fact of writing those issues down will help you with or in seeing the next stage of the deal.
So these are 3 simple facts that will help you stay with your listing and the requirement to get a positive result. Focus your listing and marketing efforts accordingly and the sales will get easier.