In commercial real estate agency, the investment sales part of the market is quite special. It is the place where you will find the investors and their requirements of property performance. If this is the market segment for you, then it is wise to consider how you can build your personal profile with the right people. (NB – You can get our free commercial real estate brokerage course right here)
Finding the Right Property People
So how can you get into this market segment and tap into the listings? Identify the people that matter in local investment and property activity. Get to know them, and then connect with them in direct and professional ways. Local property information will usually attract their interest. Relevancy is important as you connect with more people in the location.
So let’s look at ways you can do that. Who would these people be? Try some of these for starters:
- Financiers and bankers – there will be groups of financiers that focus on commercial loans and the clients investing in those segments. It will help you to know the availability of funds currently with property loans and the criteria required to borrow on commercial investments.
- Property attorneys and solicitors – these people have plenty of clients that require property help from time to time. As the regional prices, rents, and returns change, the property investors that the solicitors and attorneys act for will need help with income improvement, portfolio change, or liquidity planning.
- Property investors – comb through local property records to find the investors that already own valuable assets in your zone or territory. Prioritize those assets for location and pressure. Older properties may need re-positioning or specific strategies with occupancy and income.
- Property owners – street by street, building by building, find out who owns the assets and the land and then find out what they are thinking and doing in the property market currently. Questions lead to listing opportunity. The issue here is that your solutions should be primed to the current market conditions.
- Owner occupiers – these are the people that may move or relocate. That becomes a sale opportunity. Get in ‘early’ with these people and businesses. Help them remember you as the property market changes and they have to do something with asset change.
Within these 5 segments of the market, you will find some listing opportunity and some good clients to work with over time. When you know who these people are in your location, you can build some strategies to connect with them over time. Relevancy is really important in our industry; you can build your market share from a promotional strategy of local market knowledge, significance and skill.