In commercial real estate agency, you can get significant leverage from your lists of information. A good commercial real estate agent will have researched significant lists that will help feed them the right contact or property detail within the correct property market segments.
So the lists that you create will offer significant opportunity. It is then a matter of using the lists regularly and correctly. So, what lists do you have available now within your office or agency? Here are some of the standard ones to use:
- Property ownership records for the local area
- The business telephone book for your region
- The details of clients that you have worked with over the last five years
- Property development information from the planning approvals board or office
- The sales records for your region over the last five years
- The listings that are currently available for sale or lease with your competitors currently
- The listings that may have been sold or leased by your competitors over the last five years
- The properties that are being marketed privately by property owners
- Franchise business groups in the local area
- Tenants that occupy the major buildings in your region or city
Each one of these items will give you opportunity. It is simply a matter of focus and the necessary research. From each category you can create a list of opportunity.
Here are some examples of how these records and lists can be of benefit to you:
- The business telephone book will give you plenty of information by location and by business type. In that way you can start a cold calling program to identify if a particular business needs to purchase a property or relocate. They may also need to sell the property in which they are located.
- The property ownership records for the area will allow you to focus down into the property investors owning the quality properties. A direct approach over time will help you tap into this very profitable market segment.
- The clients that you have previously worked with in a positive way are quite likely to be receptive to another property transaction, purchase, sale, or lease. It is simply a matter of maintaining contact and providing the correct value or service at the right time.
- Property developments come and go from the market all the time. For this reason you should be monitoring the new development applications that are going through the approval process. In this way you can tap into the new projects at the earliest stages with property developers.
- The properties that have been sold or leased with your competitors over time are likely to come back into the market. It is a fact that many agents do not maintain regular contact with previous clients in a meaningful way. Your competitor’s clients should become your targets for future new business. Establish a contact process with meaningful information.
From these categories and the gathered information, you can create a significant database of opportunity. Identify the lists that are commonly available for you and work them to the fullest opportunities that they provide.