5 Helpful Hints to Control Commercial Real Estate Now
There are plenty of things that you can do in commercial real estate sales at this time, to help you establish control and create opportunity.
Indeed, the property market is under some change; however, the commercial and retail property market doesn’t disappear; it just changes in activity and priority.
On that basis, the owners and the business occupants in your location need help in different ways. Tuning yourself into those requirements will help you grow and thrive in this commercial and retail property market and for the coming property cycle.
Seize the opportunities that are around you by talking to people and asking plenty of questions. Work the telephone comprehensively every day from now on.
Who Needs You Now?
Who are the people that need your help? Have you spoken to your clients and prospects recently about their investment challenges and property ownership or occupancy changes? These two questions should be top of mind regarding conversations and meetings.
Get to know your people and all your contacts more directly, specifically regarding property needs and challenges through this current and upcoming property cycle.
Create and modify your services now to assist people with property changes and challenges.
The basic rule through this current and ongoing property cycle is to get closer to your contacts; you can do most of that across the telephone. Use the phone as the communication tool of choice to understand how your clients need your services.
Remote Real Estate is OK
A lot of what you can do can be remotely activated online and through email activity. Meetings are not required, but conversations are necessary. That is where you will find the new business and the people that need your help.
So how can you position yourself for opportunity now in real estate sales? How can you be of more service to the people you know and those needing your help with their property investments?
Territory and Zones
Look into your territory and split up the zones for activity and change. Recognise where all the business precincts are currently, and where the pressures may arise when it comes to business occupancy or investment.
Talk to the property owners in your area and engage with the local business owners.
As a special note, some of those business owners will own the property in which they are located. Specific questions will help you find the right people and understand their property requirements and changes.
Transactions to Create
Try these ideas in your location and with your real estate business activities.
- Property owners will be undertaking a balancing act when it comes to rental income, tenant occupancy, and vacancy management. Retention of current tenants will be an essential business practice when it comes to investment performance over the coming six months.
- Some tenants will be under some occupancy pressure, while others not so. You can provide specialised leasing services and tenant retention plans for the coming 6 to 12 months as businesses reposition and restructure for the changing economic cycle. Offer specific tenant negotiation services for the landlords that you currently know and act for.
- Some property owners will be looking to purchase properties during this changing property cycle. They will use the period to their advantage and purchase properties in prime locations, and at prices, they see as desirable.
- Some property owners will have to sell some or all their assets. Some property owners and investors are highly geared when it comes to investment and property ownership. That then pushes more properties into the market for sales activity and off-market transactions.
- One skill you should develop during the current property cycle is that of using the telephone to put property situations and people together when it comes to sales and buying activity. Understand which properties that are available for purchase now; look for the people that are ready to purchase when the right asset is found. People are looking to purchase real estate now, given that the share market is so volatile. Use that fact as your base of business activity. Use the telephone every day.
So, these ideas will help you get your real estate business under control and will help you optimise your services for the changing property market currently.
Get involved with people and continue that process across the telephone for the coming few months. You will find the listings in that way, and potential transactions will become more evident through conversations.
