In commercial real estate brokerage today, it is crucial that all Property Agents have a specific plan of client and customer contact that they can implement every day at a personal level. In so doing they can build their business faster and particularly so with listings, clients, and commissions.
The agents that struggle in the industry are usually those that are not talking to enough people in a comprehensive way, and then following through on leads and referrals. It is not a difficult industry to work in, but it is specific in the things that must be done.
So what is the issue here? As a basic rule, every agent should strive to build a professional business profile that is remembered and respected by clients. In that way, when the business need arises the client will contact the agent.
Why Should I Use You?
I asked an agent in another capital city market the other day why a client should use his services in retail property sales and leasing. In giving you his response here and now, I should say that the agent was newer to the industry (under 3 years in the property market) and he was finding things a bit difficult with locating listings and creating deals. The answer I got from him was similar to this:
‘I work harder than other agents locally, and I am professional and trustworthy. I know the local area very well and can really help my clients. I make effort to find the best possible property solution for my clients.’
So what do you think about this statement? Have you heard a version of this before? I have, and certainly many times from far too many agents. If I was a client in the property market today, the statement means nothing to me. There is no value in the statement to give me a single reason to move ahead; I have no reason to use an agent with those credentials or ideals.
Prove Your Relevance Results and Skills
Provable results are of more interest to me and I am sure any commercial real estate client would say the same thing.
Generic statements are no good when it comes to winning listings and new clients. Bland generalisations don’t attract property clients and convert listings; clients today are ‘results oriented’. If you really want to win the property business then I put it to you that these facts below are more important in lifting your conversions and levels of real estate business:
- Established contacts – Ensure that your database of contacts is of the highest quality and up to date. Quote your database complexity and strength as you pitch for listings. It is very hard for a client to ignore an agent that has captured the property enquiry for the local area.
- Market coverage – Build your personal marketing efforts in a defined area so that you are the person to go to with a property type and property need. Specialisation is really important in our business.
- Proven Results – When you have a few local property results to talk about such as sales, leasing, or time on market, be prepared to talk about them in an all-inclusive way. Spin the stories and the connections that have made your marketing solutions special.
- Understanding the alternatives – There are many ways to handle a listing. Ideally you will be attracting the best levels of enquiry from the right buyers or tenants. Can you sell that message to the client in a specific way? What are the best alternatives for your clients to consider with their property in today’s market?
- Marketing in a targeted way – Your marketing solutions must be the best and highly targeted for the property type and the location; that is certainly the focus of every exclusive listing. How can you get involved personally in the marketing your listings so that the client must choose you as the agent of choice to list their property?
When it comes to winning any property client or listing, be big, bold and specific. Help the client see how you are the essential choice of agent to attract the right buyers and tenants in a comprehensive way. In exchange for accepting the listing, demand exclusivity from the client for a reasonable period of time. From that point onwards you begin the marketing process.
3 replies on “Big and Bold Ideas to Help Build Your Commercial Real Estate Business Faster”
So when you are a brand new agent and you don’t have any provable results, what do you say?
Its a good comment and question. Everyone has to start somewhere, so the first few months in commercial real estate brokerage can be a bit challenging. Through focus and effort, most good salespeople break through the barrier. The first deals become the basis of more success. One success leads to another as long as you build on the momentum.
You show the client that you have plenty of local property knowledge and then you offer some specific marketing solutions that are better than the generic approach offered by others.