New Business Search Strategies in Commercial Real Estate
It is a new property market, and everything has changed. In saying that, the clients and the properties are still out there.
Connections and conversations with clients and prospects are the way ahead today and into the future. Matching people to property situations will be a big part of that progress, so start your real estate conversations, and have many of those each day. Some would say that it is worthwhile doubling your outbound call numbers to reach out to people locally. I would tend to agree.
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Control Your Listing Stock and Inventory
Recognize that there are new people in the property market now and finding them will be a crucial part of progress with listings and transactions. The agent that controls the listing stock and the agent with the inventory will be the agent that attracts enquiry and opportunity.
What is the trend now? Top real estate agents are looking for sellers and landlords. They are the best clients to serve because you will get listings from them in selling or leasing. When you control the leasing or selling stock, you contain the enquiry and people will seek you out.
Simple Business Ideas
Here is a list of new business solutions that you can use in commercial real estate today:
- Some business segments are busier than others. Assess the business segments that hold the most opportunity for you.
- Check out the franchise groups, as some of them are highly active and thriving in business growth.
- Reconnect with all local landlords and keep a close eye out on those landlords with vacancies in their properties.
- Check out the listings of other agents that are not moving. You can be the next agent in line to take the property on and do something with it. The client is probably ready for some reconditioning on price and marketing.
- Connect with FSBO owners in your location. They are unique property clients to work for, and they do require conditioning on prices, sales methods, and marketing. Ultimately, they are frustrated sellers of property that are looking for a buyer solution. If the motivation is strong enough, you can do something about ‘repositioning’ the property.
- Get plenty of signboards into a location on sales and or leasing stock. Signboards will always pull in the property enquiry. The same can be said for internet advertising. Both channels of marketing are essential to attracting property enquiry. As part of that, you can revisit or call every person that you have in your database today
- Contact anyone that would have made a property enquiry or inspection over the last two years. Any names and phone numbers that you have on your lists will be valuable for the future. Make the calls and keep on doing so.
These are probably the best business solutions for agents in commercial real estate in this market. Look to the future and understand that the calls you make today are the new business leads and transactions of the future. Step forward into your real estate business with confidence as this unique property cycle takes shape.
