In commercial real estate sales, there are a few proven strategies that will allow you to improve your results as a broker or agent substantially. Consider these systems below and merge them into your real estate business model. Top agents do these things in a regular ongoing way.
Results usually come to those agents and brokers that work to a specific plan and strategy, while refining their approach to market conditions as they go. Luck has nothing to do with a career in commercial real estate. Property market conditions also change over time.
Work with the real estate variables and changes in your location and your property speciality. Put some ‘churn’ in your property business; talk to plenty of people each day and track your progress.
Sales Methods of Top Agents
Here are some ideas to help you with improving your sales results:
- Specialise in a location and a property type – local area knowledge will help you in so many ways. As part of a listing pitch, presentation, or negotiation you can use your local area knowledge to underpin your recommendations and strategies. Talk about the local area, the trends, and the tactics. Don’t be ‘generic’ in your listing and marketing processes. Show the client that you understand their property problem and give them some specific strategies to build enquiry in the listing. A timeline approach usually helps with clients and prospects; it helps them see what you will be doing and why that is the case.
- Control your listing stock through exclusivity – provide depth in your marketing campaigns with all your exclusive listings. If the client is serious about getting results, then they should listen to you about their property and the current market conditions; they should take and consider your professional recommendations. Tell the client up front that you will not take on an ‘open’ listing. Explain that the time that you spend in the property market is ‘time critical’; only your exclusive listings get the ‘full treatment’ and market coverage. Engage only with those clients that give you a commitment to the ‘exclusive’ listing. Property marketing is not an ‘experiment’ in promotion; it is a definite process, and you drive your real estate business with direct marketing.
- Remember your client in all parts of the transaction – your client is working towards targets and goals in the sale of their property. Provide unique and relevant strategies to them that help with shortening the time on market and getting a better level of interest from the target market. Explain your strategies as part of client engagement and listing marketing. Be different and local area specific as you provide logical real estate strategies to your client.
- Know the averages and trends with sales, listings, and prices – keep a ‘tally’ of trends and results in property groups in the location. Graphs are the best way to show the client what is happening.
- Connect with plenty of people – know who your clients are by type and by location. Drive a solid amount of listing and prospecting activity each day. Methodically cover buildings, locations, and streets as you connect with people.
- Market your properties comprehensively and engage with your prospect list and people every day – regular connections and conversations help you find new business. There is no better way to find listings than to talk to people and track the conversations. Provide valuable local property information as you engage with your property market. Use blogs, listings, articles, and property market trends to help local investors and property owners with the information they can use.