You can learn so much from the commercial real estate market when you watch the competition agents and brokers. Other real estate agents will leave clues as to how they do things in the market, their successes, and what struggles they have locally with listings and clients; in watching your competitors you can see what is working for them, what is not, and what skills and strategies can be replicated. From that simple fact you can adjust your focus and move ahead with greater levels of success.
When it comes to real estate marketing, there are many different things to do and track and you can look for the things that really work. Individually agents can and should create a marketing system that works for them given their property market and property types.
Here are some things to look for:
- Agents struggling with listings and results – There will be reasons for listings not moving. It could be a marketing problem or a general lack of skill on the part of the agent. Profile your other agents from watching their successes and their marketing strategies. You can then adjust your listing pitch and presentation. You then have a competitive advantage.
- Top Agents – Some agents will be far more effective than others when it comes to creating new clients, fresh listings, and marketing. Some of those Agents will be moving more listings in both sales and leasing, and you need to know why that is so.
- Time on market for other Agents – There are averages to watch when it comes to time on market throughout the year. Some agents will struggle with moving the listings most of the time; others will do better than the ‘averages’ when it comes to time on market. Client conditioning, methods of sale, marketing, and negotiation skills have a lot to do with the outcomes achieved today by any agent. Improving those skills will help you with your market.
These 3 simple things can help you significantly when it comes to you growing your real estate business. Watch and observe the trends, successes, and failures around you. Learn from the efforts of other real estate agents.
It can be said that many top agents have similar traits and strategies. In reviewing the top agents throughout your town or city those traits can be identified and replicated successfully. Over time you can refine the processes that are highly successful and add your professional strengths to the process.