When it comes to listing a commercial or retail property for sale or for lease, it pays to set some rules to work with your clients and prospects. If you want to be a Top Agent, then you will need to systemise your client interaction.
It is all about customer service in sales, leasing, and property management. Those systems should be based on conversations, meetings, and call contact. Organization in each marketing method will help you greatly.
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Client Services in Commercial Real Estate
Here are some ideas to help with your clients that may want to sell or lease their property.
- Maximum involvement and understanding – good commercial real estate agents encourage a solid foundation of activity with the client so that they are close to the client when any decisions need to be taken. Every client is different, and there will be property investment and use issues to understand.
- Sometimes that maximum involvement can include tools such as property marketplace information, details of leasing and sales activity, and details from other markets. How you deliver the material is up to you but technology can support the process. Share information about prices, rents, supply and demand relating to office, industrial and retail property. There is always a story or two that you can share in commercial real estate today.
- Ethical business practices and good business processes are fundamental to the foundation of success in commercial real estate. Given that the larger volume of customers and clients are business experienced people, it is essential that the commercial real estate agent is very familiar with presentational matters, computer technology, property performance analysis and forecasting methods, and written reports and documentation.
- Confidentiality is an essential element of dealing with commercial real estate. A customer or client dealing with a commercial property will appreciate your confidentiality, diligence, knowledge, and tenacity in the overall transaction. Some property transactions take a lot of focus and discussions to put together. All parties to a property transaction will have boundaries and targets in the property choices that they have. Ask questions so you know those things. Take plenty of notes when you talk to a client or have a meeting. Situations and discussions will change over time, and you want to have documentation and notes to help you. That can also be a big part of property negotiation.
- Your clients and prospects will understand their overall targets and future opportunity. Sometimes this process requires clarity and the real estate agent can assist. Go through the options and the market circumstances. By asking the client or customer key questions, it is possible to understand the best type of commercial property which will suit their investment needs. Once this has been decided, methods of approach and acquisition can be decided.
The most successful commercial real estate agents are continually exploring the market for new opportunities for their clients.
It is common in commercial real estate for sales and leasing transactions to occur off-market and away from the public eye of publicity and public sales such as auctions. Indeed the largest sales in real estate are commonly transacted in this method.