In commercial real estate today, most agents would enjoy the opportunity of having quality listings and frequently paid commissions. Even with the difficulties of this property market, you can be very successful with your commissions today. You can create more transactions if you follow the rules.
Many will say that the commercial property market is under stress and challenge currently. Whilst that is partially true, the market doesn’t disappear and there are always good clients available to work for.
It is in this type of property market today where the distressed clients need to make adjustments. Some of those adjustments will involve sales, leasing, and property repositioning. We are the experts to offer those services. Your knowledge is valuable.
The fact of the matter is that this is not a seller’s market, it is not a buyer’s market, but it is an agents market. The opportunities are available for you when you know enough of the right people that need help and assistance.
Most clients and prospects in the market today do not have the required market coverage or property knowledge to pull in the inquiry. That is why they need you. If you have a significant database of contacts and prospects, you become the matchmaker when it comes to creating the successful sale or lease.
Here are some ways to create better commissions and more frequent transactions in either sales or leasing.
- As a priority, focus on quality listings throughout your region. It is the better quality properties that will produce the higher quality feedback and enquiry. Review your territory and identify the best properties and the substantial property owners. They should feature as part of your prospecting model. Over time you should get through to some of those listings.
- Every property enquiry that comes to you should be captured into the database. Get full details of the property need, the timing, and the contact details. Over time you can use this information for ongoing property matching and direct marketing.
- It is interesting to note that many transactions are conducted confidentially in this tougher property market. A property will be sold or leased without any promotion in the media. The only way this can occur is when you have a significant database and ongoing contact with the right people.
- When it comes to your sales pitch, presentations, and listing process, always focus on exclusive listings. It is the exclusive listings that will give you better market share over time and you can also control the client, the negotiations, and inspections. Ultimately this allows the client to achieve a better price given the levels of enquiry currently.
- At least 2 hours of your working day should be spent in prospecting. Make this a priority in your diary and get it done early in your daily schedule. This one single factor is responsible for the successes of many a top agent. It takes three or four weeks to establish the required habits to keep this moving ahead. The opportunities are available to those that develop prospecting habits and sustain an ongoing momentum.
In today’s commercial real estate market, you can be very successful as an agent providing you work with sufficient focus and build your database of contacts. It is a personal process, and has little to do with the agency that you work for.