In commercial real estate sales and leasing today, and because it is a changing property cycle, the best way to find new business is through local area marketing. This matrix video will help you with that.
Think about the real estate market around you, your competitors, your clients, the types of transactions, and the current property cycle. Where can you start to get some ‘inroads’ and progress?
Everything starts from a small base of activity and the best way to do that is through the local area. Check out the real estate people around you. That is landlords, tenants, business owners, the precincts, and the churn factors.
Setting the New Rules
When you look into your local area, specifically and directly, you can see things happening and predict where the next transactions can be coming from. It’s a simple rule, but it always works.
Sometimes as agents, we spread ourselves too far and wide when it comes to contacting property people and researching properties. In this changing property market, that strategy is not wise.
Simply put, tracking your marketing efforts will enable you to comprehend the procedures that actually generate more inquiries.
Given the intended property type or desirable qualities, each enquiry should be recorded into the property enquiry database for regular ongoing communication.
The benefit of a current database to your real estate firm and commissions is significant.
In order to attract property inquiries for your clients in this market, you can make smarter selections when you examine your local area marketing plan. Keep a matrix of people and properties that you have researched and acted upon.
When a local property owner needs assistance with a problem with their property, the agent with the greatest local database will be highly relevant.
When selling your listing suggestions, also make use of your database and marketing tracking operations as reasons of differentiation.
Think Local and Be Local
Pull yourself back into a set of precincts, buildings, and selected client types. See where the change factors can be occurring, and what people require when it comes to real estate services.
These rules are not hard, but they are a factor of discipline for all real estate agents today. Use these ideas to encourage inquiry, build listing opportunity, and potentially commissions overtime.