Exactly why would people see you as relevant and different as an agent in commercial real estate brokerage in your town or city? It is an important question to consider and answer. If you are looking for more clients and listings, then the answer simply must be there, and you should believe it. You are part of the answer. (NB – you can get plenty of brokerage marketing ideas in our Snapshot program right here – its free)
There are far too many ordinary agents around in most cities or towns. Just about any person with the appropriate property qualifications for a given location, can list a property for sale or lease. They can then put it on the internet for promotion. Indeed, many property owners themselves will seek to do exactly that; questionable and slow results usually evolve. They think that the brokerage sales and leasing just is so ‘easy’. If only, that were true!
Stand-out as the Local Property Professional
It is time to show the property market that you are different and relevant to the clients that need your help. The best results in commercial real estate today, only come to the agents and brokers that focus their efforts with a bias towards local property relevance, listing control, and exclusivity. Everything outside of that ‘rule’ will be a process of ‘luck’ and you cannot build your real estate business on ‘luck’.
So, where can you go with this business idea? There are two sides to this brokerage process. I am sure you have seen many different clients and or properties over recent time. Consider these very different approaches to our industry, the properties, and the clients:
- Alternative 1 – An agent takes an inquiry from a local property owner about the existing market conditions and the potential for a sale or lease situation. The agent then lists the property on an ‘open’ basis allowing for the legal requirements to do so, then places the on the internet, and waits for the inquiry to come in. Not much ‘thought’ evolves as part of that process of client or customer service. Strategy and market evidence is lacking.
- Alternative 2 – An agent canvasses a local area of a town or city, and chooses certain targeted buildings as potential listing stock. Through research, they then find the relevant property owners for each building, establish the need for a potential sale or lease requirement, and then they create further meetings where the existing market conditions can be explored given the asset and the client’s property challenge. An inspection of the property is created, a target market is set, and a set of promotional alternatives are discussed with the client given the timing and promotional budgets available. Locally based marketing strategies are created, as well as regional or segment specific promotions are also examined for the best overall promotional coverage given the property type and location. The agent’s ideas for the property are explained to the client and alternatives are given. The client has choices, but the ideas provided by the agent are specific and real. The property is then listed exclusively.
Where do you see yourself when it comes to these agent solutions and standards? When you have found any property for potential sale or lease, certain facts should be reviewed in assessing the best solution for the client. You are the solution provider, and you can do a lot with that concept if you want to win a listing and or client. Be relevant and real for a location and the property type in all your client and prospecting processes.
The Strategy of Relevance in Brokerage
To build this broker/agent relevance, you can do all and any of the following as part of your property inspection and client presentation:
- Provide an area sampling of the recent property inquiry from tenants and or buyers as the case may dictate.
- Give details of your recent area canvassing when it comes to businesses and local companies that may be looking to move or expand.
- Show the results of recent promotional campaigns given the property type, the location, and the tasks at hand.
- Define the target market for the client so they can see who you will be talking to as part of listing the property.
- Give some alternative time lines to the promotional campaigns that are available, and give reasons for each.
- Show comparative advertising solutions for different locations and property types.
- Define the locations and facts of other local properties that will be competing with the client’s property.
- Filter the key questions and ideas to the client that you know are critical to the required property promotion.
- Show the client the promotional differences of property banner ads, portal promotions, newspaper classifieds, and social media releases.
- Put yourself into the client’s property challenge and explain how you are going to make the big difference when it comes to creating inspections, giving feedback, and closing on previously qualified tenants or buyers.
These things will help you convert the attention of the client into a potential listing. Be relevant, real, and professional as the best agent for the client’s property and the challenge ahead.