To win a listing in commercial real estate agency, show the client that you have relevant and real experience that will help them solve the property challenge. Don’t be generic; be specific when it comes to your property knowledge and your marketing solutions. Show them why they need you to help with their property challenge.
Over the years I have seen many property trends and taken advantage of quite a few. An open mind and a keen eye will help you see market advantages and trends that you can tap into. Here are a few tips to help you grow your commercial real estate agency business:
- Today we have many technology tools at our finger tips. Learn how to use them to the fullest of their advantage. At the top of the list will be a ‘database’ software program. You will need one so choose something that works for you. Over time the database will help you in a significant way with client and prospect contact. The cycle of commercial real estate activity is quite long and for that reason it can be many months if not years before a client or a prospect is ready to take some action in the market place. You have to be ready for the need and challenge. Build your client and prospect relationships with focus and relevance over time. Some agents struggle with the discipline and diligence required to get a database in place and keep it up to date. The top agents in the market ‘live and breathe’ for their database and work it comprehensively.
- The property cycle in commercial real estate is about 5 to 7 years long. After that time most property owners or tenants are ready for a change, expansion, or contraction. They can also be ready for another property purchase. For this reason it pays to make contact with the business owners and property investors that were involved in some property activity about 3 to 4 years ago. Start the contact process today with an expectation that they will want your services in the next couple of years.
- Embrace the internet in your personal marketing processes. That is not just for your listings but also for yourself. You can write blogs on the local property market. The blog can be your way of improving your market presence and profile in addition to the market listings that you may have.
- Get an email newsletter underway and feed it into your social media channels and database. Link the interesting articles in your blog to the newsletter as well as the newer quality listings that are in the market now.
Simple tips like these say one clear thing; use the market history, the tools, and opportunities to open new relationships. Get to know more people that can need your services. Show the market that you really are the expert.