In commercial real estate brokerage, the property buyers for a location will be valuable in creating inquiry, inspections, negotiations, and contracts. The key question is ‘How do you attract plenty of buyers for a property listing?’ When you have database that is loaded with carefully selected and nurtured buyers, then you have a good chance of converting the listing to a positive result for the clients that you serve.
Build your database every day with the right people and contacts. Constantly canvass the local area to see what is happening with property and business changes. (NB – you can get plenty of buyer and seller tips for brokerage in our ‘Snapshot’ program right here – its free)
Property Buyer Motivations
Are you looking for more commissions? The message is that you must match people to properties; there are no shortcuts. Timing and market conditions are always changing for the parties to a property transaction, sale, or acquisition. The key fact to remember here is that you generally have active commercial property buyers within a town or city that fall into one of three categories or types. They are:
- The investors that are always on the look out for good properties to purchase. They are generally always just waiting for the right property situation to evolve. They are selectively motivated depending on the asset and the current property market conditions.
- The local business owners that are looking to purchase for particular reasons. They will be looking to solve a problem of business expansion, contraction, or relocation. They will only be in the market for a short time, but they are generally highly motivated.
- The short term buyers that want a specific property in a special location. These people can be ‘first time’ buyers with a limited budget and ‘time window’ to act.
In this ‘Guide to Commercial Real Estate Buyer Attraction‘, John Highman talks about the three most critical elements of buyer magnetism. You can get the report right here below: