When you look at the property market today with all its changes, things are happening now, and other issues are taking shape. Look into the facts with property investors and business owners. It is the same in most cities around the world.
Change creates opportunity if you work it comprehensively and deeply. That is where it pays for you to be a ‘first mover’ in sales marketing and negotiation activity in your location. Look for what is happening and consider how you can work into that. Consider these elements:
- Property types
- Supply and demand
- Vacancy factors
- Time on market
Sure, prices are changing, and the reasons for commercial real estate and investment sales are now quite different than they were 12 months ago. The people are still there, and the properties are still there. The reasons for a deal to be made now are unique and are timelier than before. There is some urgency in the property market, and you should look for it.
Understanding Power and Wealth in Property
What do you need to do now? Be astute, inventive, and aware of what people need with property and with investment challenges and know how you can assist them to move ahead in this market. Brokers and agents in commercial real estate are problem solvers. That is the rule.
As part of that, do not try to predict prices based on previous evidence from some time ago; this is a new property market, and critical price indicators are still to be seen. You cannot predict prices, but you can provide marketing solutions to get more enquiry for any given property and client situation.
Using Imagination and Talent to Grow Your Real Estate Business
Do not wait for the property market to be ‘something different’, as it is already happening. Accept that prices are different and marketing activities will also be unique for the next 12 months. So, what do we know? Think about these things:
- Market segments of priority – look for the sectors and precincts in your local area or territory that are popular and desirable for businesses and investors. Get to know what is happening in those areas. Ask more questions and talk to more local property people.
- Investment pressures – people will have to sell, and some people will want to buy an investment property. Others will hold off for as long as possible before they do anything. The best way to find the priorities and pressures that apply to property people is simply to make the calls.
- Business pressures – some businesses will be pressured to expand, contract, relocate, or diversify. The best way to find those change factors with companies is simply to make plenty of calls to those businesses in your local telephone book. It could not be easier.
- Enquiry rates and hot market segments – track both things, as they will be good indicators of the future strategies that you can apply in marketing. Watch the property indicators. Shape your prospecting, inspections, and marketing to generate more enquiry with all your listings.
Be a ‘first mover’ when it comes to tapping into the changes in your real estate market and client base. Talk to local property people and use the telephone to get that started.