Many commercial real estate clients do not understand the local area when it comes to trends in enquiry, prices, rents, and opportunity. You can fill in the gaps when it comes to local area property knowledge.
You have some valuable statistics, real estate trends, and results that you can share with those clients as part of a property service and a sale or lease transaction. Develop some statistics and some tracking processes that can be integrated into any client meeting, presentation, property inspection, or negotiation. It is hard for a client or prospect to refute or challenge any property facts that are well presented. (NB – you can get plenty of client contact strategies in our Snapshot program right here – its free)
Help your clients to do their property homework when it comes to resolving a sale, a lease, or any property challenge. Your ability to do that will help with your conversions and listings or commission outcomes.
In saying this, many clients do not like to ‘miss out’ or misunderstand what is happening locally with property changes and trends. Use your awareness of listings, enquiries, negotiations, and inspections to update your clients, prospects and customers.
Go Local, Think Local
Local area information will help you regularly connect into the future with your clients and prospects. Chart your information and use it wisely. Here are some ways you can do that:
- Case studies and deal outcomes – when a property transaction has been settled or completed, it is very likely that the results can be shared with selected people in your database. Your closed and completed transactions prove and substantiate trends; use that information wisely and creatively.
- Question and answer briefs – understanding how the local property market is moving now, you can keep a running commentary on the motivating factors of a sale or lease transaction from all angles and party perspectives. You can have ‘Q and A’ briefs for Sellers, Buyers, Tenants, and Landlords. Those briefs can be in PDF form and suitably edited for ease of display or comprehension.
- Local area updates for property types – these should include graphs of supply and demand, and statistics of sales and leases. You can also talk about time on market factors for your property zones, precincts, and property types. Detail the enquiry trends for precincts and property types graphically and statistically. Simple information that well presented is hard for any client to refute or challenge. Use photos in addition to other provided information.
So, there are some good things that you can do here in helping commercial real estate clients do their property ‘homework’ as part of a current or future transaction. Use your local property market intelligence to engage and convert your clients in timely and direct ways.