Systematic Approach: How Commercial Real Estate Agents Can Increase Listings for Sale

Commercial real estate sales activity, which includes property viewings, negotiations, and closing deals, should be at the centre of all focus for real estate agents today.

In a changing market, sales activity is something to watch and encourage personally. For instance, you can encourage sales by actively seeking out potential buyers and sellers, promoting properties, and staying updated on real estate market trends. That is all about putting yourself closer to the people who want to get involved with buying, selling, leasing, and owner occupancy.

It doesn’t matter what the property market is doing, but it does matter what an agent is doing to approach new people and find listings. The listings are always there to be found, as are the situations that encourage listing situations.

So, what are the situations that would create real estate selling pressure for any property owner? Try some of these for starters:

• Redundant property
• Reducing income
• Difficult tenants
• Changing business circumstances
• Cash reserves are changing or under pressure
• Higher vacancy levels
• High cost of lending and finance
• Need to purchase a different asset or diversify
• Increasing property operational costs and outgoings
• Changing zoning requirements and approvals, etc.

Factors of opportunity always Exist

These factors exist in any property market and are the reasons for moving into a sales cycle, a period of increased property sales. For instance, a property owner facing high operational costs may decide to sell their property to reduce expenses.

Finding the property owners impacted by these issues is the key to finding more listings. How do you find these people? You make plenty of telephone calls and reach out to property owners, individuals, companies, or institutions in your location. Organisation is important to finding the right real estate people who need your help with these ‘sales catalysts’.

As an agent, building your work systems to find these people can be the foundation of growth and improving market share. Regardless of the property market you work in or the property types you specialise in, you have the potential to find more listings easily by engaging with people.

Real Estate Agent Discipline

This is a discipline that, when developed and applied to your workdays, can lead to significant success. Here are some ideas to help you do that effectively and directly.

1. Systems that always work

Each real estate agent needs to establish a systematic approach to a working day. This means structuring your day to prioritise prospecting activities for client and property types. Set your targets for both issues so you can attract and find the best listings locally on time.

Systems always take time to establish, so once you start approaching people and researching suitable properties, your ongoing system will be necessary for your results. Finding the momentum you need to win the listings and grow your market share can take weeks or even months. Stay in the process for the long term. Every new day and contact will get you closer to a listing opportunity.

2. Segment your market and properties

Segment your property market into various locations, priority precincts, and high-quality buildings to make things easy for yourself. This will allow you to research the right people and consistently connect with the property owners through the precincts.

Organisation is essential to getting anywhere as an agent or broker and building your canvassing system around that organisation. It is all about what you do daily and how you approach your property market.

3. Repeat and Refresh

Repeat the contact process consistently over time. Every person you talk to today should be spoken to again at least once every 90 days over the coming years. From that repeat process, you will find the listings and the opportunities. Listing creation will always occur on a foundation of trust and recognition, so you repeat the ongoing contact.

You want people to remember you at the right time and in the right way when they need help with property change and opportunity. Nothing is more frustrating than seeing a property owner that you have spoken to before using another local agent to list their property.

Take on the challenge and talk to people every 90 days in relevant and local ways. Share your information from the market and build your real estate brand around that.

4. Collecting and managing your data

Create a database list or use a software solution that you can quickly and conveniently use daily. The data-capturing process should be backed up into the cloud. Over time, your database will grow into several hundred, if not thousands, of people; within that list, you will have VIP people to connect with very regularly.

So, your contact list needs to be in the cloud for convenience and security. Recognise that your time talking to people will be the foundation for future real estate listings. Patience and systems will help you get there.

5. Share Information with your client list

You can share monthly information regarding recent sales activity, market trends, and future predictions. Read the local newspapers and contact people in the regional planning office.

Ask questions about what is changing regarding property and property zoning or development. Investors and business owners in your location will always find it interesting when you send relevant articles and property updates. Utilise market analysis and intelligence as a leverage point in your property market contact systems.

6. Other Allied Professionals

You can collaborate with other industry professionals you respect and trust. Think about groups of people such as real estate attorneys, accountants, and financial advisors. They all connect with the same types of people you work with and may introduce you to people they know need property help.

Relationships fostered with those people will help you get further into market share growth and make you feel part of a supportive network.

7. Gathering Market Intelligence

What types of market information is it appropriate to share, and where will you get the information? Given that there are always people considering selling and buying, the immediate information that they like to know about are prices, rentals, time on the market, yields, and other sales results.

You can build a monthly property update report, providing the information you share is not confidential. This information can be obtained from local real estate databases, market reports, and your research.

8. How to Manage and Track facts?

Managing and tracking leads is something to think about. Given that you will be talking to many people daily, how can you gather the information and follow up as required? Information gleaned from conversations will be robust if you use it comprehensively and consistently.

Creating Your Real Estate System

These strategies create a real estate system that will help you build or consolidate your progress as an agent. You can add these ideas as your property location and processes may require.

You want your systems to improve over time, so always be open to progress and innovation. Conversations lead to real estate listings; locally, use that as your growth strategy. Get the conversation going with people in your location.