Many real estate agents are on the lookout for listings this year. It is a changing market, and there are things to work on and people to help.
Of course, agents should be chasing listings most of the time. Listings are the lifeblood of the industry. So, a ‘pipeline’ of listing opportunities is one that the agent is targeting and wants to be working on in the future. How can that happen for you?
You don’t have to look too far for new business if you focus on the potential problems of the real estate market. Occupancy or ownership are two different channels of real estate to work on, and they both require property performance solutions. That is where the agency’s new business will be found.
Property Challenges and Solutions
How do you convert that new business yourself? You create conversations with local people around those issues and solutions. Ask more questions and start real estate conversations. Those are the rules in commercial real estate.
So, the problems of real estate today are a mixture of things such as:
- Needing more space
- Needing to move
- Wanting a new location
- Looking for tenants
- Wanting more rental
- Fixing leasing and tenant problems
- Charting the course of a property upgrade or renovation
The list above is just the starting point. Consider many things, and your location could add more issues to the list. Think about your town and city. What do people need help with? How can you provide those services?
Be a solution provider of real estate services. Professionally position yourself in that way. As you do that, be better than the other agents around.
Who are the local people to talk to? There are two main groups in your location and city, and they are firstly the property investors and secondly, the property owners.
As you connect into those groups, remember that the business owners in your location could also qualify for property interest, ownership, and activity.
There is something else to think about here, and it is the research to find the people to talk to. There is no fixed way to do that research, and generally, there is no easy way.
It all comes down to process and persistence. Understand what works for you and how you can use the real estate resources at your fingertips.
Some property owners or investors are hard to find or hard to research. It can take days or weeks to research a particular person behind a property you are targeting.
In commercial real estate, you must be up to the challenge of investigating properties, precincts, and people. The agents that do it well are the agents that win the new business.