When you look at your property market, there are plenty of sales happening if you know where to look and what to look for. There are sale listing opportunities to be seized over time with investors, property owners, and business owners.
So, how can you find the property stock and convert the new sale business for yourself? The fact of the matter is that you will need to plan to help you watch the location and the ‘property churn’. Over time you can drive plenty of opportunities your way as a specialist in the location.
Create Your Plan of Contact
A plan helps you act consistently and that will then help you sustain a focus on local people and targeted properties. By connecting with the right people consistently, and watching the properties, you will find those listings that you are looking for.
What does a sales plan look like for a commercial real estate broker today? Try some of these for starters and then add your variation using your preferred property types and buildings:
- Create a defined location where properties can and should be identified. That may be in precincts, streets, main roads, and buildings. Don’t spread your efforts too far, as you will get better conversions from concentrating your property focus.
- Make a list of key people in your town or city to connect with, and some of whom will be VIPs. It is wise to have a VIP list of clients and prospects in your brokerage business plan. You will spend more time connecting with certain people as you know they can have repeating or high-value business for you.
- Do a review of property cycles in the location and set a projection of supply and demand for certain property types. Know what’s happening in the location and what people are looking for as the new projects come through. How many new buildings will there be in the coming 24 months? That future supply will change business interest and location activity. Get ahead of the ‘wave’ when it comes to business relocation.
- Set a comprehensive marketing plan that is easy to implement for yourself and your listings. As part of that ensure that you prefer exclusivity in marketing properties. Convert your listings and clients to exclusivity.
Taking these points, get to know what local people are looking for when it comes to property types and investment activity. Create a short list of 25 to 40 property investors that are active in the location. Connect with them in regular and ongoing ways.