As a commercial real estate agent, you would be well advised to grow your database quickly and strongly, as well as creating a short list of high value ‘VIP clients’. In doing that, you can have a contact process for general prospects, as well as a special service and contact frequency for those VIP’s. Approximately 5% to 10 % of your database should be devoted to these ‘high value clients’.
Most of the new business that you create in the property market today will be by direct contact and in providing specialised services. Your service offering should be ‘superior’ or more unique than that which other agents provide. How do you rank in that assessment now? Do you have your Sales Plan?
So, exactly how will you attract those VIP clients to your services? The answer is simple. You must be the ‘better solution’ as an agent in the current property market and within the property speciality.
To be ‘special’ and ‘relevant’ as an agent in today’s property market, the following factors will help your activities:
- Directed marketing in all exclusive listing campaigns
- Shorter time on market per property
- Prominent high quality marketing campaigns with your listings
- A better success rate than other agents in both sales and leasing
- Significant signboard presence in the area
- A database of qualified prospects for the region and the property type
- Strong online presence in the internet portals and websites for local property
It is hard for a VIP client to ignore you with all of these factors working in your favour. You just need to pitch and present your services around these issues.
Winning a listing today is not about providing discounts in commissions and marketing; it is about providing high quality services to show the client how you can improve their property outcome quickly and effectively.
So what can these VIP clients bring you? Here is a list of some of the most important things:
- Multiple properties – Generally a top client will own more than one property. In that case you can service them across a number of issues for a good period of time.
- Referral business – A satisfied client will be a good source of leads and opportunities over time. Remember to ask the right questions and follow through on all leads that are given to you. It is so much easier to win new business through a ‘referral’.
- Quality properties – Top clients usually own high quality properties in good locations. In saying that, you will find that it takes time to win their trust and attention. You will also have other agents to compete with. Develop a level of professional service that others will find hard to duplicate.
- Repeat business – Good clients will give you some new business opportunities across sales, leasing and property management. Be prepared to meet the challenge and provide the services where possible.
- Expanding and special property needs – A valuable client is one that remains active in the market for some time, and across a number of property challenges and opportunities. Find out what the focus is for your good clients by way of property and location, and then feed them with property opportunities as and when they become available. That helps you match people and create deals ‘off market’.
So these high value clients can support and help you grow your market share and commissions. Establish strong and valuable relationships with good clients over the long term. Make sure that they call you first when a property need arises.