In this commercial real estate market, the challenges are many. We find that prices are difficult, rents are soft and enquiry is lessened. That being said, quality listings will always produce good enquiry.
In any market you will find that quality listings are of attraction. Those property owners and property developers that are normally hard to find will ‘come out of the woodwork’ when the top listings come on the market. Quality listings will always help you build your database.
If you aspire to be a top agent, then focus on the quality properties and always target for an exclusive listing. Openly listed properties are a waste of time to all concerned. Only take on an open listing if you believe you have a qualified enquiry that can be converted to a contract or lease as the case may be.
So what are some of the other skills that will help you rise to the top of your local property market? Here are some ideas:
- The industry is based on relationships with the right people. On that basis make certain that you establish a database and that you are maintaining it on a daily basis. Every meeting and every telephone call with a prospect should be captured into your database.
- A good and successful transaction will give you the opportunity for referral business. Every client that you serve will know others that will be interested in commercial real estate. It is a fact that many property developers and property investors are part of an exclusive group of contacts and community. Many within the group know each other and will refer you in the right circumstances.
- Listing and presentation skills are critical to helping you convert the listings and the new business. If you compare your presentation skills to other agents, you really should be better than average and have some real points of difference that make you and your services stand out as superior.
- Prospecting remains the number one skill for all agents. If you neglect prospecting you are neglecting your career and potentially not finding all the deals and opportunities in the local property market.
- Local market knowledge will help you find the right people to make contact with and grow your market. Local property information will be invaluable in helping you present your offerings and marketing strategy.
- Marketing is one of those things that all agents know about, but many are very poor when it comes to getting the message out to the local area. Your marketing efforts should be advanced and specific so that every exclusive listing can be optimised for enquiry.
So the list is not long and perhaps some of the things may seem obvious, but if you take a group of agents and rate them according to these categories, many will fail.
If you can master these issues, you will find that the property market will open up for you in many different ways.