If you have chosen to work in commercial real estate brokerage, you will need listings locally so you can control your stock and grow your market share. To find listings in volume, you must have a daily strategy plan that you can implement
What is your prefered listing type? Do you only work on exclusive listings, or will you take on open listings? It is a big question that will impact your business progress. Exclusivity is something that you should move towards.
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Sales or leasing preferences?
What parts of the industry do you prefer? Do you work with sales listings or will you also do some leasing? Most top agents will do both to service their important clients.
When you think about things, you don’t want another agent servicing your clients for leasing requirements, which could then influence the client to move brokerage.
What about your services? Yes, there are other parts of the industry such as ‘buyer’s agent’ and ‘tenants advocate’ where listings are not so important; but the agents that control the listing stock tend to make more commissions annually than those that are working with just buyers and tenants.
Here are some proven ways to pull in listings from a property precinct and within a property type:
- Understand the listing seasons – When you look at an average year in property, you will see some patterns to the listing churn and activity. That is certainly the case in precincts, suburbs, and property types. Determine what the listing seasons are in your town or city so you have plenty of quality listings activated when the enquiry rates are up.
- Watch for competition listings – When your competitors list a property exclusively on the street or on a main road, canvass the surrounding properties. It is remarkable how much information and/or leads you will get from the people in the location where other listings are located. Use your competitors’ listings to talk to local people and investors.
- Exclusivity matters – Don’t waste too much of your time with ‘open listings’. To get anywhere in our industry, your listing stock is significant, and you must control that listing stock ‘exclusively’. In that way, the property enquiries have to come to you, and all the inspections and negotiations are directed through you; you are the gateway to the client and their ultimate property needs. Refine your services to the point that you are the specialist people need. Don’t be generic in skills and local property knowledge.
- High-quality marketing – When your marketing is of high quality and of sufficient profile, other property owners and investors will want to use your services. Convert all your listings exclusively and then build a package of vendor paid marketing into the bundle. Ensure that your adverts, both online and offline, are impacting and targeted. Tell a story and use the right feature points in your marketing solutions.
- Property specialty – You are a single person looking to achieve a reasonable level of results in an industry that is quite competitive. You cannot or should not try to cover off on all property types. Drill down into the property types that you know about and have determined can get you a reasonable degree of commissions and leads over time.
- Presentation and listing pitch – Practice and refine your listing pitch so your tips and ideas are unique and different. Stand out as the agent of choice for your location and the property type. Don’t say the ‘ordinary things’ that all other agents ‘dump’ out without much thought. Use all of the human senses in your presentation, those being sight, sound, touch, and thought. Lead the client through your ideas as part of a plan that is focused on the client’s property and their challenge.
There are always quality listings up for grabs; there are always clients out there that need your help.
What are your broker services?
Why are you the best agent or broker solution that they need? When you really know the answer to that question and can deliver it in a logical and professional way, the listings will come to you in volumes.