In commercial real estate brokerage, you really do need to stand out as the property specialist for the location. People must remember you at the right time when they get to a challenge relating to sales, leasing, and property management. They need to recall your skill and relevance to their property situation; you need a definite and direct marketing strategy to achieve that.
Far too many agents struggle with the profile problem as they look to find listings and clients to work with. The problem evolves from a lack of prospecting activity and location specialization. Don’t fall into the same trap.
Be Very Special as an Agent or Broker Locally
There is no point in being ‘generic’ when it comes to commercial real estate brokerage today. Look into your location and determine the segments of the property market that you can understand and relate to. When you specialize in this way, the listings are easier to find and convert.
So there are some very real and unique things that you can do here to achieve this business profile and identity in local property. Here are some ideas to help with that strategy:
- Connect with the other members of your team to cross pollinate business ideas and opportunities. They may be working with a client in a complex and unique way. You may be able to offer extra ideas to their client’s situation. The team approach really does work in brokerage today as clients move through property challenges and decisions. The team approach is worth exploring. Connect closely with the other brokers that you can trust and respect professionally.
- When you present or pitch for the listing, take another person from the brokerage with you that can add further value to the meeting and the property challenge. The sale of investment property would be a good example. You can usually add value to the listing situation by adding the involvement of your property management division in a lease review and vacancy resolve. Similar value add situations occur between leasing and property management. Look for the linkages and encourage the broader team to get involved in client situations and business presentations.
- Use the history of the area to help the client understand the trends of inquiry, prices, and rents. You can chart all three of those factors over time and carry that chart with you to use in any listing pitch or presentation. Invariably most clients have no real understanding as to the level of inquiry currently and what property buyers and tenants are thinking. A graphing process over a period of time will help the client see the history of property results and expectations. Delve deeply into the location so that the history you have his comprehensive and relevant to the precinct and the property type.
- With the advantages of technology, you can carry with you on a laptop computer or tablet an array of photographs, case studies, and listing forms to help you connect to the right time in the right way for every type of property situation. You can also add some comprehensive checklists to that strategy so that every client and property situation can be directly covered and probed as part of the listing pitch. When the client gives you the green light to list their property, the checklist will help you ask the deep and meaningful questions relating to the asset and the client situation. Good questions also help you convey professionalism and relevance to the client.
So these are simple strategies to evolve and improve. They help you position yourself as the expert for the location and the person that the client really needs to move through their asset and its challenge. When you add to the list some specific factors of target marketing and property promotion, the client can be easily moved to the decision point required. Market yourself as the property specialist for the location.