Given that the commercial real estate market is under some pressure, you need to be quite selective when it comes to listing top quality properties, and working with buyers. It has been said that quality listings will bring the buyers to you; that fact remains very true in today’s property market.
So you should focus on good quality listings in your location, town, or city; those properties should be exclusively listed so that you can control the client, the marketing, and the negotiation. Top agents are smart agents when it comes to working a property market like that which we have today.
Choose quality listings. When you do this, you have the greater chance of finding the right buyers for all of your listings. Good quality listings will always flush out a better quality and level of buyer enquiry. Those buyers will also have a better chance of negotiating and completing the property settlement. They are the people you need to know.
Here are some ideas to help you in flushing out commercial real estate property buyers today.
- So the first point of focus should be on quality listings. Those listings will always create interest from buyers in any property market. Capture the buyer enquiry from all of your marketing campaigns into a database, so that you can establish an ongoing contact process. Every good listing should give you many more qualified people for your database.
- A quality property will need to be exclusively listed. To do otherwise is a foolish approach on the part of the client. When you have an exclusive listed property, you can dedicate significant focus to the marketing approach on a personal level. That would not happen when it comes to an open listing. If the client is genuine and serious about achieving a property sale, the exclusive listing process is the way to go.
- Establish an ongoing contact program with all the property investors in your town or city. They take time to find, however you can usually locate them from the ownership records for other quality properties in your location.
- As part of your prospecting model, stay in touch with all local business leaders. Many successful business leaders either own commercial or retail property, or they may need to purchase a property for future business needs. It is very easy to make contact on a regular basis with local business leaders. You can start with the business telephone book, and also canvass the local businesses on a street by street basis.
- Some properties are potentially the subject of renovation or redundancy. When that is the case, property developers may show an interest in taking the listing to the next level. That being said, property developers are generally motivated by their own opportunity and can be quite time consuming when it comes to establishment of the project and the feasibility. Many a real estate agent has spent hundreds of hours on a potential project by the property developer only to find that another agent has stepped in and taken the listing. Be very careful if you choose to work with property developers.
Whilst the commercial and retail property market may be somewhat challenging, there are always buyers available to purchase a quality property. I go back to my point earlier, where I raised the importance of listing local properties of quality.