In commercial real estate agency and brokerage, it pays to create a shortlist of your top clients and work them in an exclusive way. In that way you can create a VIP process of contact and service as it applies to sales, leasing, and property management. You can apply a higher level of contact to your top VIP clients. When done correctly it leads to better market share and listing opportunity.
To get things started and so you can get more results, you need to understand what a top client will be to you and why that is so. Set some goals to help you focus on your real estate market. Consider the following questions:
- Categorize your clients by property type and location. Within those criteria, what should a top client be by way of location, volume of property, size of property, and frequency of sales or leasing activity? When you understand the answers, you can focus on capturing and attracting those clients to your database. Direct prospecting will be required in each case. It takes more effort to connect with top quality clients.
- Some clients can move from one transaction type to another; that means more opportunity. A prime example of that process will be a leasing deal that moves to a sales opportunity. There can be many months if not years between the levels of activity, so you will need to remain in contact with the client for the next stage of action. The same rules apply to a leasing opportunity that leads to a property management listing. Be open to the client variations and leads that apply across professional property services. Ask the right questions at the right time. That’s how you grow your business.
- Some of your top clients will be very active in your local market place now. As they grow and adjust to the opportunities of the economy, you can help them find the right properties for expansion, change, and investment growth. Understand what your clients are looking for now or requiring soon from an investment point of view. There is nothing more frustrating than seeing your client use the services of a competing agent for no other reason than they forgot to give you a call.
- Some of your clients and prospects will be working with other agents locally. To attract them to your brokerage and professional skills, you will need to establish a contact process and provide valuable market information on a regular basis. Use a market fact sheet for that purpose; update the fact sheet monthly. Personal ongoing contact in both meetings and informal gatherings will help in building client relevance and communication. Whilst we are supported as agents comprehensively by computers and technology today, nothing will replace the high value of a face to face meeting with the client or a prospect.
- The timing of a property acquisition or changeover can be a strategic issue for many top clients. Understand the timing of change from their perspective and help them position their current property assets for the next phase of growth or change. You can do that through tenant mix services, rental negotiations, strategic leasing, and marketing activities.
So, all of these facts are quite simple and logical. They do however require significant effort and focus for every agent and broker; neutralize your competition by taking these steps. Get to know your top clients comprehensively, and provide a top service in support of their property needs. The leads and the opportunities across sales, leasing, and property management will soon follow.