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. 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.
The best agents work the listings locally
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 inquiry rates are up.
- Watch for competition listings – When your competitors list a property exclusively in a 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 the listings of your competitors to talk to the local people and investors.
- Exclusivity really matters – Don’t waste too much of your time with ‘open listings’. To get anywhere in our industry, your listing stock is really important 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 that 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, the 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 you have determined can give you a good 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 with 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. Why are you the best agent or broker solution that they need? When you really know the answer to that question, and you can deliver it in a logical and professional way, the listings will come to you in volumes.