In this property market today, there are lots of listings that remain unsold. Buyers of property are very selective and slow to act. It is not a seller’s market.
So what type of market is it? It is an ‘agents market’. There is a lot of opportunity out there for agents that strive to build their list of contacts and prospects. Yes, there are lots of listings available, and that is reason to get excited. We are the solution to the problem for many sellers of property. We should (and likely do) have a good selection of buyers on our books from previous campaigns that are likely to act today; you just need to open the doors of contact.
The best agents in this market do two things. They are:
- They constantly fill their database with new people from ongoing contact.
- They stay in touch with the right people to build the relationship.
Ordinary agents neglect one or more of these issues.
In this market it is the list of people that you know that will take you forward and upward in income. Each day you should be talking to you list of contacts and keeping a high profile with them.
So how can you find commercial real estate buyers in this market? Here are some ideas to get you started:
- Some existing property owners with a reasonable existing portfolio will have sufficient equity behind them to purchase if the right local property comes up for sale. Each day make it a goal to find a new property owner in your local area to talk to.
- Look at the history of sales and property purchases in the local area over the last 5 years. You will soon see some owners that are more active than others. Track them down and find out what they are looking for today.
- Some local businesses own the property in which they are located. If they are a successful business they are likely to need local property nearby for expansion or diversification. Get to know all the local business owners and stay in touch regards property needs.
- The people that have come to you through other property transactions and not purchased may still be looking for good local property. Make the call to these groups.
- With your local newsletter, email, or flyer that you send out to property investors or property occupiers, put a feedback ‘tear-off’ form in the material for the person to register their property needs. You can do the same in your website home page.
- Take every exclusive listing on your books to the market personally. This means getting involved and door knocking your patch of businesses.
When you get your face in front of other people you are likely to find opportunity. You can do and see more in a face to face meeting than you can via a telephone call.