Money Talks in Commercial Real Estate Brokerage
Today the commercial real estate market has changes and opportunities in most towns or cities. In almost all cases the people with the money can act in any property market conditions, be they good or bad. So the message here is that you need to find these people. Money talks and creates new property business in one form or another.
A sale can lead to a property management or lease, and a lease can lead to a sale or property management appointment. Versatility is the key to winning your new business locally. Look for the clients that have multiple needs over time.
One of the most common questions I hear in commercial real estate agency goes something like this:
‘How do I find the local property owners and investors to talk to?’
New agents think that there is some special process or secret to the business of finding new clients and creating listings. The reality of the situation is that simple hard work and logic is the main skill required of an agent; that is on a personal basis and in a continual way. Looking for leads and clients is a system that is developed on an individual basis.
So if you want real results in commercial real estate brokerage, look for the ‘money’ in the property market. That can for example be in any of the following:
- Listed property trusts
- Unlisted property trusts
- Established property investors with multiple sites under ownership
- The owners of commercial high rise office towers
- Shopping center owners
- The owners of large local businesses
- The owners of larger parcels of land for development
- Successful property developers
- Solicitors and accountants that have a solid and established base of property related clients
So how do you find these people? Street by street and property by property you work out who to talk to, and around that activity you build your database. Look at the list and find the people with the money; you may also find some people with property problems. Are you ready for the challenge? I hope so. 🙂
