How to Grow Listing Inventory Faster
Listings are the beginning of everything in commercial real estate brokerage. It doesn’t matter whether you work as an agent in sales or leasing today, the listings that you find, convert, and control are critical to the growth of your client base and your real estate business over time.
It takes some agents a while to understand how they can create listings and why that is so important. However, the best agents eventually develop systems around contact processes; those systems are unique and actionable for them every day.
That focus on real estate ‘systems’ is where the top agents thrive. They know what to do every day to drive more new listings towards their new business pipeline; they stick to that plan.
Agent Growth Plans
Do you want to grow your real estate business? Connecting with people is an essential strategy that you can apply to your business day if you want to move ahead in brokerage. Connect with people before you do anything else in your real estate business.
Agents are judged firstly on their ability to create and control good quality listings at the right price. They are then considered on their conversion of those listings to completed transactions. Exclusivity exists through all those activities.
A Plan for More Listings
It is wise to set a plan in place to grow your listing inventory. Here are some ideas to do that:
- LOCAL: Look at what is happening now in your location when it comes to property ownership and occupancy. They are two different things, yet most of our real estate business comes from those two ‘channels’ of activity.
- CHANGE: Know the property change factors in your location. Look at the vacancy factors in your territory and determine if the market is owner or occupier biased. From that, you will understand where most of the new business can come from. Landlords and tenants, sellers, and buyers are all market segments to tap into. Know the elements of the property market today. What are the hot market segments for you in your location?
- TARGETS: Your target market will require some motivation when listing their property or sharing their property requirement with you. So, it is time to think about just what makes you different, and of ‘value’ to the people you can serve as you grow your listing inventory. That is where points of difference are essential to your progress as an agent. What can you do in helping your clients with better tools, systems, marketing, and negotiations? Of course, a shorter time on the market and a better price or rental outcome will always interest the property owner or client.
- IMPROVE: Just about everything you do in the listing and marketing of a property should be better in all ways than that provided by your competition. Any agent can list a property online and wait for an enquiry to come in. The top agents of the market take every listing they have and do more. They ensure that the listing is matched to a target audience and a promotional campaign. Think about your listings and do more with them to get inspections underway.
From these simple things, you can make more progress as an agent in your location. Ultimately that means more listings and better commissions.
Challenge yourself to improve your actions and focus every day. You can grow your real estate business and listing inventory today from a base of contact growth and your daily agent systems.
