When the commercial property market gets tough or slow, it is the quality and number of your clients that will get you through. If you have low quality clients, your commissions will struggle as soon as the market shifts or slows. You need those clients that have financial strength and properties that are of some quality.
So let’s set some rules regards the clients that you attract and work with:
- Focus your clients within property types. When one property type gets tougher or in over supply, you can easily move to the other clients in other groups.
- Work with clients on a locational basis. If you stay within defined locations it makes it a lot easier to quote listings to the right people and get more inspections. It should be noted that most property sales are to ‘local people’ that already understand the local area and have properties currently.
- Find the clients that have a portfolio of buildings. They will require a variety of services across leasing, sales, property management, and purchasing. These clients know what they want; you should also get to understand that so the right properties can be quoted at the right time.
- When you look around the local area, you will see properties that are of higher quality than others. Good properties will create more enquiries, so if you focus on the better standards and types of property, you will be talking to more people from the advertising that you do.
- Have you ever tried to market a poor quality building? It is a bit of an embarrassment. Whilst you may be a bit desperate for listings, it doesn’t mean that you take on everything that comes your way. You have to market the property; remember that! Embarrassing properties and clients don’t help you build market share.
- Exclusive listings are essential when you work with quality clients. Your sales pitch and presentation process has to support the exclusive listing strategy. Get practicing to make sure your marketing message is of suitable quality and relevance to the clients that you talk to.
- The clients that you serve should be selecting you because they know that you are the best agent to solve the problems that they have. Focus on your offering, knowledge, and skills. If you brand yourself as a top agent, and can prove that it is the case, listing conversions get a lot easier.
Notice how everything above is directed at the client? Have a good look at your client focus and strategies of service. Refine your client connection and service processes. Make sure that you are the best alternative that is out their selling and leasing commercial real estate.