The property market in commercial real estate offers some real opportunity for agents and brokers in a number of business and property segments. When you look through your local area and the greater region across your town or city you will find plenty of property types, investment groups, associations, and companies all potentially needing property help at some stage into the future.
13 New Prospect and Client Categories
The suggestion here is that you can merge into your prospecting model some specific property types and client types. This list will help you identify some of those segments to work on:
- Local businesses – Most property activities come from the local area as businesses move around, contract, expand and relocate. Stay close to the local businesses and business leaders in your town or city.
- Government and political – The government in your locality, region and country will have requirements for property change and occupation. Get to know who the people are that control property decisions across the different layers of government. When governments change after an election or when budgets are under consideration, it is typically the busiest time for asset change and property churn.
- Education – Schools and Universities can be identified and categorised in both the private and public sector. At different times of year they need to consider property issues for running their educational services. Some educational groups (particularly Universities) also have investment properties that they hold; invariably those investments are usually in prime locations. You can help them with leasing, sales, and property management services.
- Hospitals – Some hospitals have investment portfolios and/or properties that require leasing or facilities management. They generally outsource that requirement to industry specialists.
- Charities and non-profit – Another good segment of opportunity here. Today many charities and non-profit organisations operate as business units and have property factors to consider. Leasing, sales, and purchase are all factors of consideration for charities as they serve their clients. Understand how those charities work, who is on the board of directors in each case, what they currently own or occupy, and the process of how and when they will be making property decisions.
- Religious groups – Some churches and religious groups own and occupy large pieces of prime real estate in most towns or cities. Some of that real estate will be for investment, and other parcels of property will be for church use. Invariably those religious groups need help when it comes to buying, selling, leasing, and managing property.
- Professional associations – Search out the special industry groups such as those supporting Accountants, Solicitors, Engineers, Architects, and Building and Construction. They will have leasing needs, and some may own local properties. Asking the right questions in those groups will get you to the people that have a property interest.
- Entertainment and Recreation – Today the entertainment industry has expanded in so many different ways. You can work through a long list of entertainment based business types to see what property they needs may have. Consider approaching bowling alleys, cinemas, amusement parks, ice skating rinks, roller skating rinks, and any other business that is based on amusing and entertaining people.
- Sporting – Most sporting groups, teams, and organisations have property requirements. That can be in club locations, sporting venues, and team offices. Understand the sporting groups in your location that represent the town or city. Find out what they currently own or lease; question their requirements for property growth, change, or contraction. Most sporting groups will have a board of directors and a Chairman. Some research with each group will help you identify the right people to talk to.
- Investors – Most agents focus on helping a number of property investors. It takes time to establish the levels of trust and involvement with those investors, however the rewards over time are many. Investors like to know about rents, prices, listings, and the strategies of leasing, selling and managing. There are plenty of things that you can do for property investors. One appointment can lead to another.
- Franchise Organisations – Go to the website for your region where the Franchise Council lists all of its members. That simple list will be a great source of leads and contacts. Over time you can cold call all the franchise groups to understand their property needs and changes for the location.
- Cultural groups – In your location there will be cultural groups owning and or occupying property. Some property will be sourced and retained for use, whilst other property will be for investment. Seek out the cultural groups locally and the leaders of each group. How can you help them achieve the property use and investment that they require?
- Professional Business Segments – Last on the list is perhaps one of the most important segments to understand and work through. It is a large segment in that there are many people potentially to be contacted. So who is in the list? The professional business segment comprises of accountants, solicitors, quantity surveyors, engineers, and architects. Many of them have something to do with property in one form or another. They also have client lists and within those client lists will be people needing property help. A few solicitors and accountants in your database of VIP contacts can help you greatly with fresh business leads and opportunities.
So there are plenty of people to connect with here as part of brokerage prospecting and finding new property related business. There are always people to talk to in commercial real estate brokerage. It is just a matter of building the process of contact to find them.