Rethink and Diversify Your Commercial Real Estate Brokerage This Way
In commercial real estate brokerage, the diversity and quality of service offered really does matter. The business owners and property investors that we serve have unique needs and a professional brokerage or agent should serve those needs. If that is not done, those clients will require another service provided to help, and that is where clients can move on and away from your control.
Given your town or city as well as your property specialty, what issues and opportunities evolve with your clients? If your property market has been established and is ‘mature’ from an investment point of view, there will be all types of leads and requirements.
Here are some ideas and thoughts to help you rethink and plan your brokerage offerings:
- Sales – The sale of a commercial property is the logical first level of service for most. In saying that there are degrees of sales specialty to be provided. In your location, some methods of sale will be far more important and successful than others. Determine what works and focus on it so your sales and marketing package is comprehensively helping market quality listings across the region. Put an extra level of care into your marketing recommendations and strategies; in this way your brokerage will stand out as unique.
- Leasing – I have found in so many cases over the years that the leasing process is closely integrated with the selling process. A property that is for lease today is very likely to be a property for sale in the future. Rental and lease strategies help package a property for a future investment sale. A top salesperson should handle leasing as part of their professional services to retain the attention and connection with clients.
- Property Management – It is a fact that property management services require a different type of person and skill mix to those that undertake sales and leasing. A good commercial brokerage will employ skilled property managers to work closely with the sales and leasing team so that any leads and opportunities to manage are handled quickly and efficiently in a proposal or presentation. A change of property owner or tenant is a reason to ask about property management requirements and service alternatives.
Once you have these 3 services firmly established in your brokerage (and assuming you have the right people on your team), you can create the next level of specialisation for your high value clients including some if not all of the following:
- Investment Sales and Marketing
- Investment Leasing and Project Leasing
- Lease optimization for improved investment performance
- Tenant retention plans to stabilize occupancy
- Tenant mix analysis and optimization
- Rental Income Strategies to improve net returns and property performance
- Buyers Agent for the larger local businesses and investors
- Business Planning the Property Asset annually
- Tenant advocacy service to support local businesses in expansion or relocation
- Redevelopment projects and planning
- Retail Shopping Center Leasing and Property Management
All of these special services will help you bring in commissions and clients. Develop the skills in your team to provide unique and skilful services that are helpful to your valuable client base.
