In commercial real estate brokerage, a large slice of our new business comes through involvement with local companies and knowing their property requirements. The other segment of opportunity for us is that of local property investors. It stands to reason that we should focus most of our prospecting activities substantially in both segments.
Think about these facts:
- With property investors as clients you can control the marketing of listings, the inspections, and the enquiry. The best properties will create good levels of enquiry so keep control of that inbound opportunity through exclusivity in listings.
- Local businesses will seek to grow, contract, expand, relocate or transition property needs quite regularly. The type and size of your database will help you with leads and inspections.
- The size and depth of your local business database will be of real attraction to property owners as they seek to find a local property broker to help them move on vacancy issues and/or sell off property assets.
The message is simple for you as the local property broker. You can control your property market and grow your listing base from ongoing contact with local businesses.
Meaningful Property Questions
In a regular way you can talk to many local businesses to see what property needs they may have now or into the future. Most particularly you can ask meaningful questions such as these:
- What pressures do they have currently with business function or manufacturing?
- What types of improvements do they need in any relocation?
- When will their lease or property occupancy come to an end?
- Do they own the property they are in or are they in occupation as tenants?
- Where is their customer base coming from?
- Are there special issues that should be addressed in relation to serving customers?
- Are staff numbers putting pressures on property use and efficiency?
- What services and amenities will they require in any property changeover?
- What changes have they seen in the location with other businesses or tenants?
- If they were relocating soon, what features or property factors would be on their ‘must have’ list?
So there are facts to identify and leads to be captured in these questions. You never really know what a business owner will require by way of property in the future unless you ask the questions today.
Don’t wait for the business owners from the local area to come to you. Go out into the property market every day and talk to ever more business proprietors.