Let’s not complicate commercial real estate investment sales. In the investment part of the property business, you simply have to know lots of investors in a deep and meaningful way. You must know what they prefer from a property ownership perspective, and what they own now. From that point on it is simply a matter of establishing trust and relevance with them so you can help when they have a need or pressure point to address.
Who are they?
You can get a lot of repeat and referral business out of investors. So what does your client list look like now with these very special people? Have you got enough of them in your list? Do they trust you as the expert that you claim to be? It’s time to improve your ‘one-on-one marketing’ into this segment. Let’s tap into some very good quality leads and build some new client relationships.
What do they want?
Try these ideas:
- Quality clients – Before you do too much work in this segment, determine what a ‘good quality investor’ would look like to you. Where do they need to own property? How much property should they own? What type of property should they own now? From these questions you can and should drill down into a segment with your prospecting efforts; you can then find the right people to approach and connect with. Specialisation is very important as part of this so that you can talk rents, prices, ownership, results, and trends.
- Referrals and lead generation – You will very likely have a group of people that you know now. Ask for referrals when you meet with the right people and prospects. It is a fact that many property investors already have friends that invest locally.
- Foster retention and interaction – When you find a good quality client or prospect, you must keep up the connection. Relevance and information will help you do that. The connection should be all about them and not about you. Find out how you can help someone after you know that they have an upcoming issue with property. Work their ‘pain points’. You can become the ‘pain relief’ solution they need with local property as long as you understand the property segment, know the people, and can build a very relevant marketing solution that has a good chance of success.
- Target properties – Choose a group of high quality properties locally that are owned by established investors. Check the ownerships and start direct contact strategies over time.
- Target precincts – Determine where the best property precincts are located. Understand what people are looking for in the precinct or why the zone is so desirable for investors. Work the precinct comprehensively in your prospecting activities. Logically cover all the buildings and all the streets.
- 80/20 rule – The famous Pareto Principle applies in many business segments. The commercial real estate industry is no exception. The rule says that most of your new business (80%) will very likely come from your best clients (20%). When you appreciate the well proven business rule it is easy to see that you should be improving the quality of the people in your 20% segment of clients. Improve the quality by determining property size, portfolio size, property pressure, and referral business needs. All of that information will give you leverage to get results.
Follow the rules and you will find the investors that you would like to serve. The prospecting model in this segment is quite special so make sure that you are improving your knowledge and skills to interact with these people.