In commercial real estate agency you need lots of buyers to create the churn of listings that you are looking for. Property buyers are easier to find when you work on listing quality properties. Those good listings attract buyers like a magnet in any market and in any economy. Top agents do that all of the time.
Quality listings bring out the people that can purchase in this market today, and that is exactly what you should look for as a broker or an agent. Control your listing stock with exclusive listings for a period of time. Build your real estate business around quality listing stock. Your prospecting model will be important to achieve that.
So here are lists of things that will help you find more buyers in this property market today:
- On the top of the list will be quality listings. They will always help you attract better buyers and more of them. It should be said that any quality listing should be well marketed and that will require exclusivity for a reasonable period of time. When you control the listing stock you can control the deals and your market share. Other agents and buyers have to come to you to enquire on the listing.
- Check out the list of property sales in your town or city over the last 5 or 7 years or so. The property investors and business owners that purchased locally in that window of time are likely to be interested in more local property. You can do all of this research by reviewing the sale registers for your town or city. Yes, I know that takes time, however the process reaps benefits.
- Talk to local business owners every day. They will have a changing property need, perhaps due to expansion or contraction of business activity. Every day you can talk to at least 40 of those business leaders from the telephone book. A good cold calling process will help you with that.
- Franchise groups may look to change property location; they may lease, however the good locations are usually secured by a sale. The franchisor then leases back the property or premises to selected franchisees.
- Accountants and solicitors are excellent sources of buyers and property investors. Over time make it a target to connect with a few good local solicitors and accountants for this very reason.
- Property developers are likely purchasers of vacant land or redundant property. Find out what they are looking for in new project opportunity. The added advantage here is that a new property development will likely give you more than one property to sell.
Given all of the above opportunities, track your contacts and their property needs with a good database. Talk to lots of people every day and you will soon see the sellers and buyers that you can serve. The next challenge will be in pitching and presenting for the business.