It is a fact that high quality listings in commercial real estate will give you some ‘push’ when it comes to improving market share and finding new clients. When you advertise a good quality property, those extra clients and opportunities come to you through inbound enquiry and the marketing process.
So it is very much the case that listing quality will help you improve your business opportunities. Commercial real estate agency and brokerage can be a very difficult industry if you only focus on generic listings with little preference for quality or size. Aim for the best listings and the best clients as part of your new business efforts. Also aim for points of difference in your professional service.
Here are some ideas to help you attract high quality listings:
- Research the local property market to find the Property Investors owning portfolios of properties. They are likely to be very selective in personal property ownership and on that basis the properties that they do own will be well managed, well leased, and income performing. Do they need to sell or do they need to buy? That’s what you need to know.
- Watch the activities and listings of other agents and brokers. When they place a listing on to the market, look at the other high quality listings in the local area surrounding the listed property. Make it a specific task to research into property ownership records around those high quality listings. Approach property investors to see if they want to purchase nearby or locally; they understand the area so they are likely to prefer local ownership opportunities.
- Within your town or city there will be zones of business change and areas of growth. Look for the new developments that are under planning for development approval as well as those older properties moving to a redevelopment or renovation requirement. If a property has been a ‘good performer’ in previous years, it is likely to be suitable for re-positioning and renovation giving it a new future from an investment point of view.
- In your town or city there will be large businesses owning and occupying quality properties. It is a fact that a high profile business occupying a property as a tenant will help produce reasonable enquiry from investors when it comes to implementing an advertising and marketing campaign. Use the profile of the tenant to boost the marketing efforts and the target market penetration.
- Property Investors are always looking for good quality listings. Get to know who the local investors and what their property intentions may be. In many cases they will purchase and sell ‘off market’ when the right circumstances arise. A top agent will usually put together the ideal circumstances of the deal to help that type of transaction occur.
So these five simple points give you some real headwind when it comes to listing identification and client conversion. They can be a very healthy way to grow reasonable market share as commercial real estate agent.