Sometimes we complicate the real estate business unnecessarily, and particularly within the segments relating to commercial real estate sales and leasing. The best agents in the property market today are uncomplicated and yet highly persistent and consistent in their business practices. They know what to do each and every day when it comes to time effectiveness and staying within the required new business focus.
Every real estate agent or broker should be working to a defined pipeline of activity moving a number of clients and prospects through different levels of contact and service.
Make the connections
If you want to succeed in the industry, is simply a matter of connecting with the right people in a regular, relevant, and ongoing way. Every connection that you make today, this week, or into the future will strengthen the opportunity that you need, be it in listing a new property, selling, buying, or renting.
Find the right people to talk to regards local property activity, and start asking plenty of questions. Don’t pitch your real estate services without fully understanding the needs of the people that you are talking to. Get to know their situation and requirements before you offer solutions. When you understand the client’s current property situation, you can revert to the factors of property pain and discomfort to give them some motivation to move and or make a decision.
Most clients want to solve their property challenge quickly and effectively with the best rental or price outcome. Your focus should be to provide that solution quite clearly in and as part of every property sales pitch or leasing presentation. Show the client that you really understand the facts and their position. Make the solution easy. You are part of that solution.
We don’t need to overly complicate the commercial real estate business and every listing pitch that we make today should be simplified for that very reason. We just need to understand the profiles of the people that really require help today or in the future when it comes to selling, leasing, and property management.
Who are the right people?
Connect with the people in your local area that you can serve; that’s the secret of the industry. Ongoing contact will support any growth of market share. Review your property market for the right people to help them understand the current position when it comes to property ownership and investment requirements. Ensure that the services you can provide are of a high level and are professionally unique.
When you understand the targeted clients in your location that you can work for, you will soon know how you can pitch all of your real estate services professionally and directly without sounding desperate.
Focus on yourself
Forget about all of your real estate competitors; focus on improving your offering to make it special in every respect. You are the solution! Work to established standards and systems that give you the competitive edge. Here are some ideas to help:
- Regularly canvass all of the tenants in your location. Enter them all into your database so that you can understand and take advantage of the upcoming lease expiry dates and tenancy needs. It is very difficult for a landlord to ignore any agent with a comprehensive database of locally established tenants.
- Track all of the listings in your location for price, rental, and time on market. Review the levels of improvements in each property so that you can compare qualities and standards in each case.
- Monitor the new and upcoming property developments for the location. Determine the factors of supply and demand that apply to the town or city. At different times surround the year, the leasing market will move from tenant activity to landlord activity. The factors of variance will be rentals, incentives, and the terms of negotiated leases.
So the message here is somewhat personal and direct. Focus your prospecting efforts on the people that can give you the business and will require your services at some stage in the future. Regular ongoing contact should allow you to open up plenty of new business opportunity over time. Improve your knowledge and skills as a commercial real estate agent so that you can provide a high level of client service.