When it comes to commercial real estate sales and leasing, you as the local property agent really do need a lot of leads and opportunities flowing to you on an ongoing basis. You need to know the tenants, investors, the property owners, and the buyers that are seeking to acquire change or relocate to and from quality commercial property.
We all know that the commercial property market is highly competitive and forever changing. Seeing the opportunities as they arise will always give you the edge above and beyond the other local property agents.
Lead Generation Actions
So the commercial salesperson with the systemized approach to lead generation will always produce more personal opportunity. This will mean better commissions and listings. Here are some ideas that you can systemize into your business diary each and every day.
- CONNECTION STRATEGIES: Given that the local property market revolves around the business community, you should be connecting regularly with a lot of business owners and proprietors. These people are easy to find given that the local telephone book will have a business segment relative to your local area. With the right questions, these people will tell you if they own their property or rent the property from an investor. Either way, the information is invaluable to understand the opportunities you can explore. They are also likely to tell you who the property owner may be and how to contact them.
- BUSINESS ADJUSTMENT: Tenants in the local area will from time to time seek to relocate premises as part of a business adjustment plan. This is where the local real estate agent can provide real service. The tenant will want to understand the available levels of property supply and demand. They will also need to know the going rentals in comparable properties and the cost of relocation. Some agents will choose to act as tenant advocates in this process and that in itself is a good source of commission opportunity.
- LEASE AND OCCUPANCY CHANGES: Given that the lease occupancy and documentation involved in a property lease is typically for a duration of a number of years, it is fairly easy to determine lease expiry dates and network the relative tenants in the 18 months leading up to lease expiry and potential relocation. In this time frame they will make choices regards premises and business operations. Market knowledge will be of great interest to them as they ponder their next business change.
- LOCAL LANDLORDS: Given the points mentioned above in item three, a similar contact process can occur with landlords of commercial, industrial, and retail real estate. Invariably these landlords may need assistance in finding tenants to fill the pending or upcoming vacancy.
- INVESTOR CONTACT: Commercial property ownership for investors is usually undertaken for reasons of investment performance and gain. Typically the investor will be suitably placed for further property activity at around about year four and beyond. They may choose to purchase another property, refinance, or sell and change their property investment. All of these factors are leverage points for the real estate agent to take action. Network the property owners and investors in your local area to ensure that you are suitably placed for this cyclical activity.
The best real estate agents keep closely aligned with the local business community. It is this knowledge that is of value to the property owners as they seek to sell, buy, and rent their commercial property.