In commercial real estate today, it pays for every agent to have a specific marketing strategy to be implemented on a personal basis. The real estate agency that you work for will have only minor impact on the leads and opportunities that you convert.
Most of your successes in the property industry today will come from personal marketing and professional skills. Your relevance as an agent will be part of that process.
Ultimately your goals in commercial real estate agency will center on all or some of the following:
- Growth of your client base through the local region
- Establishment of a listing pipeline so that you can focus on quality properties throughout the year
- A good share of exclusive listings through the local region
- Referral business from the clients that you work for
- Repeat business from portfolio clients
- The establishment and growth of the significant database
- Being known as a property specialist when it comes to a particular region and a particular property type
To achieve all of these things, your personal marketing strategy has to be well designed and implemented. Each and every day you should be prospecting through the local area as well as implementing your marketing strategy in certain ways.
It should be said that the top agents of the industry generally rise to that position through significant personal effort and ongoing prospecting activity. There relevance as a specialist agent is quite real to the clients that they serve. The clients know that they must use the agent exclusively to get the best results for that property type. You don’t see many top agents working on open listings.
Consider the properties in your local area and decide how you may be seen as a specialist agent. What do you know now or what can you provide to your clients that will be of real use when it comes to selling or leasing local property? Do you have other agents competing with you within that specialist segment of properties and clients? If so, how can you be different and how can that be promoted through the local area?
Here is a typical marketing strategy for an individual agent or salesperson today:
- Make at least 25 cold calls on a daily basis to new people that you have not spoken to before. From that contact process you should reach at least 10 people to talk to and establish a reasonable conversation. From that personal contact you should achieve one or two new meetings per day with of those new people. The easiest way to get this process underway is to use the business telephone book for your local area. Simply work through the alphabet when it comes to the local businesses in the region.
- Get out into your sales territory on a daily basis. Choose the streets where businesses occupy quality properties. Door knock those businesses to understand their property needs and future property changeover potential. Ask questions about changes in the street when it comes to property activity.
- On a daily basis, research one new property owner in the local region. Make a direct approach to the property owner and record the information that you get in your database.
- When you list a property locally, create direct letters to all the property investors and or businesses in the region. Every listing, sale, or lease is an opportunity to connect with more people. It should be said that every direct letter that you send should be followed up with personal contact across the telephone or through a meeting.
In the commercial real estate industry, you will find that the cycle of property changeover, or leasing, or sale is reasonably long. On that basis you need to establish a firm and productive relationships and then nurture them for some years before a lease or a sale opportunity will evolve.
When you take the effort to develop a personal marketing strategy in commercial real estate agency today, you will soon see the opportunities that exist in the market. Over time you can convert the opportunities into listings and potentially good commissions.