Commercial Real Estate Agents – Tell the Client How You Will Get Top Prices
The property market can be a bit of a challenge in commercial real estate agencies today. With restricted enquiries, every property listing will have less scope for negotiating or waiting for the best price available. The property owners should be realistic from the very start.
Today, the client of any property should set a realistic price from the very start. Forget about those peak prices of years ago; today’s property market is new and unique. You need perspectives about the property market today, the target audience, and the best way to promote the property.
Download the Slide Deck for Agents Here…..
Relevant Campaigns
Think about your property listing. What are the features of the property, and how can they be fed into the property campaign? What story can you make about the property and who can you tell about it? Stories always help you sell listings.
Every property you list should be relevant and well-priced for this market. Everything must be well-planned and optimised when listing a quality building for sale. This takes strategy and effort on the part of the agent.
Top agents in this market thrive; generic or ordinary agents struggle. There is a widening gap between the top agents and everyone else.
Why is there a gap? Top agents constantly work their lists of people, no matter what the property market is doing. They design each day around talking to the people in their lists. Check out the slide deck above.
top agent tactics
So what do you have to do here? Focus your efforts on people and consider every aspect of each exclusive listing you take to the market. Understand the listings, the opportunities, the people, and the property situations. Put yourself closer to the people in the property market. Your lists of people contain plenty of information and leads that are ready to be found and actioned.
I do question the value of ‘open listings’ in this property market, however, I know that they are common for some agents; I guess you need to decide if a particular property is of any value to you as an ‘open listing’.
Why waste your time on an open listing where the client does not ‘trust you’ with an exclusive appointment? If the client is serious about selling their property, then exclusivity is a key factor in the listing process.
exclusive listings matter
So, let’s return to exclusive listings and how you should treat them today. Here are some of my ideas to help you get results from those good, sensibly priced listings.
- Every listing on your books should identify and tap into the correct target market. Doing this takes time and focus, so you can only work on a certain number of exclusive listings simultaneously. The number of properties you can individually list and work on depends on their size and type.
- One single large property (such as an office tower or shopping centre) can be a lot of work and take most of your time. Smaller properties can be more manageable. Big marketing campaigns for high-quality properties take special effort, so be prepared. A top agent can work on about 10 average-sized exclusive listings at any one time.
- Marketing strategies should always focus on the property and the quality it brings to buyers today. Ensure your marketing efforts are specific and focus on the local target market first. This means that you will be personally involved in marketing the property. Most of your buyer enquiries will come from the local area.
- Vendor-paid marketing is essential to listing a property exclusively today. Give the clients solid reasons for this and explain how you will use the marketing funds to capture the right enquiry. If the property owner is serious about selling, they will be serious about paying something towards getting the property message out to the right people in the right way.
Focusing on promoting the property will attract more enquiries and opportunities. Put personal effort into the promotional activities of all your good exclusive listings.
Today, you cannot advertise a property and hope the telephone will ring. Get involved with the property listings on your books. Take those listings to the market in a personal way. That will get the seller a better enquiry and potentially a better price.
