In commercial real estate brokerage, there are plenty of things that you can do with a sellers list. It’s a good foundation of new business opportunities if you do it correctly. Develop the list for yourself and work it deeply for your real estate business.
The connections established with property owners as potential sellers in your territory can be logically researched and gathered over time. The list is then a generous source of leads and sales opportunities for your brokerage business over time.
So, what do you do with the list? Frequent ongoing contact with property owners as potential sellers is a wise strategy to build the relationships and the appropriate levels of trust. Have you got a ‘sellers list’, and do you work it?
How can you optimize the seller’s connection process? How do you create your seller’s list? Let’s get some real estate systems established. Split your territory up into:
- Precincts and zones – identify the zones in your territory that relate to and support the enquiries and the growth patterns of the local area.
- Streets – prioritize the streets in your zones and precincts.
- Owners versus Owner Occupiers – know what the differences are for the owners of local property in each group.
- Buildings – know the better buildings and the locations of each building.
- Opportunities – understand the differences between land, classes of the building, and zone or precinct changes.
In these four priority assessments, you will find plenty of sellers potentially looking to list, purchase, renovate, or reposition their properties. A list like this can also help you find and transact ‘off-market’ deals. A breakdown of a property precinct in this way will also help with improving lead generation and client identification.
If you get your ‘seller list’ established, what would you do with the people on the list and how would you communicate over time? You need a marketing edge to the process of communication. Try these ideas for starters:
- Property owners needing local comparisons – all property owners and business owners are concerned about their property investment and how it compares to others in the region. Use the regular sales reports from the zone as ‘discussion’ points and interesting topics to compare to in any listing presentation.
- Updates on prices and rents – you can create simple graphs of rent and price changes in a region across property types and zones of activity. The ‘visual’ approach has great advantages in business presentations relating to a property.
- Updates on time on market – you can explain the differences that apply to open listings versus exclusive listings. Show the trends and advantages of the exclusive listing process in your region. Use plenty of photographs as part of sharing property listing trends and marketing processes.
- Factors of supply and demand – some properties and locations will have greater enquiry. You can chart that trend if you track your enquiries coming into you each week. The graphing process gives credibility to your observations.
- Off-market transactions – a close connection with local property sellers, will help you find ‘off-market’ purchase and sell situations before your competitors get involved.
Take all these points and shape the ideas into a ‘sellers list’ service and canvassing approach to your real estate business. There are many things that you can optimize in the process.