How You Can Create a Premier Commercial Real Estate Brokerage
Exactly what makes up a top quality ‘premier’ brokerage in commercial property today? When you look into your location and across your group of competitors, who are the agents that stand out and how do they differentiate themselves?
A top brokerage will usually have a number of good agents in its employee. A brokerage of this type will normally specialise in a number of different ways. They will have a brand that is clearly designed to lock into a property speciality and client type.
Its People Related
There are a number of factors that come together to make that ‘premier’ status happen and grow. Every agent within the brokerage will be part of that process. There is great opportunity here in striving to achieve that image in your zone or territory, as most brokerages are quite ordinary.
A top brokerage will normally be attracting high quality listings, the better commissions, and the quality clients in the location. How do you rank when you compare your business to that of your competitors?
Premier Status Methods
Here are some ideas to help your commercial real estate business focus to evolve into the ‘premier’ status that it should be:
- Attract the best people into your team. High quality people attract better clients. The agents and brokers that really understand their part of the market can handle most situations and client challenges. They know what to say, and they know how to say it. The best people within your commercial real estate team thereby become points of leverage within and with the marketing of the brokerage. Referral opportunities are then easily generated from successful transactions.
- Achieve sign dominance in the location. The best listings will focus on and be part of exclusive marketing campaigns. Any high quality property should feature as part of an exclusive promotional process. In that way the enquiry can be optimised and converted. It directly follows that the number of signs you have within the location will impact the enquiry that you achieve. Those signs should be placed on high quality listings first and foremost.
- Focus within a property speciality. Choose one or two specific property types that offer you and or the brokerage the best business opportunities into the future. Determine exactly what properties by type and by location that will produce the best levels of enquiry. You can then directly focus your prospecting activities and client contact for the best levels of conversion. When you focus within a specific property type, it is also quite easy to then track results in sales, leasing, and upcoming developments. Property values are then tracked and determined. The depth of your local property knowledge will help you specialise. That knowledge will also help you pitch and present your services in a relevant way in any competitive listing situation. Show that you are the industry specialist through your comprehensive coverage of local property market information. It is very difficult for a client to ignore a property specialist that can prove results and can show comprehensive market coverage.
- Apply both direct and general marketing campaigns for each high quality listing. Most properties achieve the highest levels of enquiry within the local area, so that fact needs to be optimised. When you list a good quality property, promote it specifically and directly into the groups of local property investors and business owners. From one good listing, you can create plenty of market intelligence and future listing opportunity. It will be achieved through the direct marketing process where you can talk to lots of local people about recent listings and recent property activity.
So there are some good things that you can do here when it comes to establishing your ‘premier’ brokerage and business activities locally in commercial real estate. Make sure that you merge your strategies into a definite and distinctive business plan approach focusing on the best properties and the best clients. Shape your skills and local property knowledge to attract the business in a timely and relevant way.
You can get more tips about commercial real estate brokerage development in our eCourse Snapshot right here.
