Lead generation is essential to getting anywhere in commercial real estate as an agent. The most successful agents follow a system for gathering market intelligence and connecting with people.
The real estate business is all about people and property situations. As you get closer to both of those issues, you find opportunities.
So, there is a message here that can work for you. Let’s discuss it and review the key issues surrounding lead generation and market intelligence in your area and across your territory.
Understanding Property Market Landscape
Before taking any action in commercial real estate, you must understand what is happening with property owners, business owners, and local property market activity. Examine the supply and demand factors for investment property in your area and the sales, leasing, and development activities.
Looking at the property market landscape, you can see transaction trends and results, which are useful in client presentations and prospect discussions. These are the facts to track:
- Prices by property type and location
- Rents by property type and location
- The supply and demand of property
- Levels of enquiry
- Business sentiment and change in the location
Take the Visual Approach
There is always something going on in any real estate market you can discover and take advantage of at any time. Examine current trends and forecasts for property occupancy and investment. You can accomplish this by making activity graphs.
When discussing property needs and trends with clients and customers, graphs are useful. Form an opinion about property activity and future real estate conditions, then capitalise on that change.
Examine the agent competition in your area, as well as the marketing, listing, and market share strategies used by these agents.
Once you have a listing in a specific location, you can market it to other property and business owners. As a result, a single listing becomes a point of leverage in property negotiations with others.
Unique Selling Points
Every agent should understand what makes them unique and how they differentiate themselves as a relevant agent in a given location and across property types. Those distinguishing features can then be highlighted in any client listing or meeting.
There is no point in simply being a real estate agent in the area; there are far too many other agents, and that choice will make your business generation focus more difficult. Select a property type(s) and specify the size and types of transactions you want to work with. That real estate decision-making process will assist you in defining your target audience and location. You can then look for new business.
If an agent specialises in a specific location or property type, it benefits both the agency and the listing. This allows an agent to converse with specific individuals in greater depth and meaning. This is known as targeted marketing.
Ultimate Listing Formula Course for Agents
Numerous marketing tools and technology are available to you as you connect with people in your community. Think about how you manage all conversations and listing opportunities. A quick conversation today can be expanded upon in a few weeks with the right people. That is where your database will help you build a solid client base.
Creating Your Online Presence?
Many real estate agencies and salespeople use social media to create a point of contact for customers. While this is partially true, social media is unimportant in the brokerage industry. Regular cold and warm calls to your database will help you win more new business. Conversations generate new real estate business faster and more efficiently.
Personal approaches and conversations are more effective in building the majority of real estate transactions and opportunities. Conversations allow you to qualify people, establish your relevance as an agent, and set up meetings where appropriate. The ‘face-to-face’ part of our prospecting activity is so essential today.
Writing and Sharing Property Information
Today, an excellent online presence for agents entails writing and posting articles about a specific market, location, and property type. The article is then useful and exciting for the clients or customers served.
An online platform allows you to share messages and information with people in your property market. Information is always useful to business owners and property investors. If you share your information on a blog channel or your brokerage website, search engines will “see” it.
Share your real estate information with specific individuals. There is always a lot to write about in commercial real estate. If you can write a market-related article, share it on your brokerage’s website, blog, or social media.
Create Your Property Opinion
Writing about and discussing trends can help you establish an opinion and a niche in your property market. Your writing explains to your customers and clients why and how you differ from other local real estate agents.
Sharing your market intelligence with locals allows you to generate property leads, which can lead to more property listings and opportunities.
Shape your real estate business around professional contact processes and positively share information with the appropriate people. There is a lot of new business available in commercial real estate investment today.