In commercial real estate brokerage, you should sell and pitch your listing services from your strengths in the market. You cannot be generic when it comes to providing a commercial real estate services today.
Here are some specific strategies to help you identify and grow your strengths as a broker or an agent. You can then relate to or use those issues in the property presentations and listing opportunities identified.
- Your strengths will come from your market share to a large degree. The client must perceive that you have a dominant market share in the property type locally. On that basis it pays to have many signboards throughout the region. It is questionable whether you should have signboards on open listings, however they may have some value. The quality listings and exclusive listings in the market today will be of great value to you when it comes to attracting further business.
- Quality listings attract better rates of enquiry. Most of your prospecting efforts should be directed towards the best properties and the best clients. To do this, it is best to stay within a property type and a defined geographical region. In that way you can logically and comprehensively work through the list of people and properties.
- When you consider an average property listing, there are certain stages that the listing will move through. They are the listing process, marketing campaign, inspections, negotiations, and documentation. The five stages are quite specific and complex. You can deliberately improve your skills in each of the categories. All of the clients that you work with prefer to know that that they are working with a top negotiator, marketer, and property specialist. Practice your skills in each of those disciplines.
- Brainstorm every quality exclusive listing for both marketing and inspections. Go through the stages of packaging the listing for maximum enquiry, together with the strategies to be used within the inspection process. Match the property to the target market and put yourself into the marketing process.
- Use your database as leverage to attract a listing. Providing the database is up to date and correctly structured, there will be plenty of opportunity to short list some buyers or tenants to attract valuable inspections.
- Seize the initiative at every opportunity in commercial real estate. Beat your competitors to the punch when it comes to matching the right people to the listings. Show the client exactly how you will do that and use some visual tools as part of that process. A Gantt chart will help you with the visual display in your property proposal.
It is not hard to win listings and clients in commercial real estate brokerage. It is far harder to achieve the results required for the clients. Develop your system to take every exclusive listing comprehensively to the market. Repackage the marketing campaign or the pricing structure depending on the feedback you are getting throughout the campaign. Help the client move to a satisfactory resolve.
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