In your commercial real estate market today some clients will be more important than others to your future as an agent or a broker. Finding those clients can be a skilful and time consuming process.
You could say that the high quality clients in the market today should become your VIP clients over time. The rewards are many when you find and service a high quality client owning a number of properties in your local town or city. New business opportunities open up with in sales, leasing, and property management. You can also get some project work with new property developments and in that way achieve a number of commissions through the one property activity.
In setting your sights on these VIP clients, the first problem you will strike is that many other agents and brokers will be chasing the same VIPs for the very same reasons as you. Focus and relevance can help you establish new relationships with these high quality clients. It can take some months if not years to convert the business from some of these people, however the rewards are many when they start to flow through.
So what does a high quality client look like, and how will you find them? Here are some ideas to help you:
- Typically they will own a number of properties through the area. You can usually find those multiple sites and locations through a check of the land title records.
- When you list a high quality property in your town or city you will find some Property Investors making themselves known to you as part of the marketing campaign in promoting the quality property. You can then build the relationship over time and identify exactly the types of property that the property investor prefers.
- Deliberately market your Property Services to solicitors and accountants in your town and city. They will have higher value clients with property interests. It should be said that the leads and opportunities will not normally flow to you until the solicitor or accountant understand your relevance and skill within the property type and the local property market. Time and focus will help you break through the barriers with these industry professionals.
- If you haven’t got many listings locally at the moment, it is quite easy to build your market share from the activities of other agents. When your competitors list a property, you can network the property owners around those listings. Soon you will find leverage and opportunity in adjacent and surrounding properties in this way.
- Property Investors and portfolio owners are usually on the lookout for high quality assets and opportunities to improve cash flow through rental and capital gain. That is where property analysis will help you with positioning and deal creation. Look for the properties that are under rented, undervalued, or in prime locations.
It is an established fact that opportunities exist in sales, leasing, and property management at all times and in any property market. It is simply a matter of knowing the right people with the right needs. Commercial real estate today is very much an industry based on personal relationships and professional skill. Focus your energies into both of these factors.