In commercial real estate brokerage, you can let the market come to you (albeit very slowly), or you can take the real initiative and pursue the opportunities vigorously. There are always things to connect into. The clients that we serve have many challenges and factors of change.
So let’s look at ways you can take charge of your market and the elements of it. Try these for some ideas:
- Track the factors of supply and demand as they apply to your property type. That information will be valuable to the clients that you serve.
- Understand what property buyers and tenants are looking for. Group that enquiry in your database so you can quote the numbers and the factors in any presentation or sales pitch.
- Monitor the time on market for listings locally. Differentiate between your office and the competitors that you are up against. You may be converting listings to deals more effectively than your competitors.
- Create some marketing systems that stand out as innovative and direct. Every agent can list a property on a website and the internet, but not every agent will take on the factors of direct marketing to the target audience of buyers or tenants.
- Understand the advantages of exclusive listings versus open listings and be prepared to sell your specialised exclusive services effectively. Any serious seller or landlord will not want to waste time and money in a protracted marketing campaign. Open listings are a slow road to getting any results.
- Set up a blog about your property market and the elements of change within it. Don’t market your listings in the blog, but do provide real and relevant market updates. When you think about it, there are plenty of things to talk about locally including business activity, roads and transport, rentals and prices, supply and demand, plus development changes. The search engines love to get regular updates that help them serve the ‘searching public’.
- Build a social media platform where you can connect with clients and prospects in a meaningful way. Link your blog posts to your social media channels.
So there are many things that you can do here. It is just a matter of innovation, and taking regular action. Persistence in marketing will help you move ahead in the commercial property market with better clients and quality properties.