When you work in commercial real estate brokerage, you can and should network with other property specialists to achieve further qualified leads and listing opportunities. The relationships that you encourage and create with these other industry specialists will allow you to tap into other active clients in many different ways. Expand the relationships that you have with other people and ask for referrals as part of the process.
Here are some ideas to help you find the right people and build the right relationships with these professional industry related groups:
1. Solicitors or attorneys – It is a fact that many solicitors and attorneys in your town or city will have many clients in need of property help and guidance. Get to know a number of these professional people for that very reason. It can take some time to bridge the necessary levels of trust and acceptance, however the results and the leads that you can achieve are well worth the effort.
2. Architects and engineers – Local property architects and specialized property engineers will know a lot of property people locally interested in commercial real estate, and in saying that particularly so the active local property developers. It is likely that those engineers and architects are well aware of new developments or projects under consideration at the earliest stages; they can give you the links and the introductions through to the right property developers considering new construction projects.
3. Mortgage brokers and financiers – Some financial institutions and mortgage brokers will have established clients and customers considering property change or investment repositioning. With many commercial investors, portfolio change is a regular issue or opportunity. Look for portfolio investors seeking to diversify or expand their commercial or retail portfolio. With property portfolio diversification, risk and volatility in the portfolio can be lessened.
4. Tax specialists – Every year local tax specialists in your town or city will be handling the income and investment challenges for their clients. Some of those clients will need to change their investment activities to minimise tax exposure. Commercial real estate can be a very useful way of handling taxation pressure and income challenges. Get to know the number of taxation specialists and keep them up-to-date with property opportunities in the local area.
5. Maintenance contractors – Some contractors involved with commercial property maintenance will be working for other property owners and investors in your town or city. Ask for referrals and lead opportunities with all of the maintenance contractors that you know or work with now. If you have a commercial property management portfolio in your brokerage, the connections already exist with a number of maintenance people.
There are many different ways to approach these people as part of a prospecting system or model. Direct mail, cold calling, and personal letters to the right people will help you open the doors opportunity in each case.