In commercial real estate sales and leasing, you need a strategic plan to take you forward individually in your market and in your real estate agency success. As part of that process, you need to know where you are currently so that you can improve on the current position through direct effort. Here are some tips from our Agents Newsletter.
One of the biggest advantages in our industry is that most salespeople are quite ordinary when it comes to consistency and focus. Those agents that can lift their game in both prospecting and client contact will generally create more opportunity much faster than other agencies. That then means more commission and listings.
You can do specific things to improve your market share, listings, and commissions. When you make the decision to improve in this regard, it’s extremely important to take consistent action on a daily basis. That is where many salespeople fall down. Over time the results will come towards you.
Here are some ideas to help you strengthen your position as a top agent in the local property market.
- Identify your competitors and track their activities and listings. It is essential that you know what the other agents are doing, and where their listings are located. Some of those listings will have an impact on your presentations and client contact. Understand the differences between competing properties and be prepared to market your listings more effectively.
- Dominate the property market through direct marketing into the local area. Most properties today are sold and leased into the local area. Business owners and tenants prefer to relocate locally to preserve their customer base and simplify the property changeover process.
- Identify the successful businesses in the local area that could be requiring expansion or change. Establish contact with these business groups and maintain the relationship for the time that they are ready to make the move.
- Track the listings on the Internet with every agent and within your primary location. Some of those listings will expire and become available for a fresh listing with another agency. This type of listing is generally well primed for a price adjustment and also alternative marketing.
- Check out the existing listings locally on a weekly basis through a direct drive by assessment. Understand what makes each property different and why any person would buy or lease that particular property.
- Understand the factors of time on market currently when it comes to each property type. The same can be said when it comes to price ranges and rental types. Limitations will exist on financing the changes that businesses require. Property Investors suffer the same pressures. When you understand the limitations and the pressures, you can do more with the right people that can act in this property market.
- Every listing that you bring into your agency should be personally marketed to the local area. That means using each listing to talk to more people. Don’t wait for the marketing effort or the advertising to produce the enquiry. When the property market is slower or difficult, the personal marketing process becomes much more effective and important.
In any property market and at any time, we can overly analyse the situation without due regard to the true facts and momentum of the industry. The way that you will really understand what is going on is to get involved with all of your prospects and clients on a daily basis.
This personal involvement will open up the opportunities and give you the market intelligence that you require to convert more listings and transactions. Like it or not, our industry is based on personal contact and personal trust. Get to know more people each and every day. That is how you will become more successful as a top agent in this market.
You can get more tips like this in our Agents Newsletter.