Unleashing Potential: Examining Sales Tactics in Commercial Real Estate

Winning commercial real estate listings is a concept-based practice centred on systems. A ‘random’ approach in real estate brokerage sales or leasing doesn’t work today.

Here is a crucial question. Do you want to ‘thrive’ as an agent in your location? Concentrate on connecting with property owners, and base your business week and diary around that.

Acquiring commercial real estate listings can be easy with personal property knowledge, directed activity, and effective communication.

As an agent, be specific about what you are doing to find listings and who you connect with daily; build systems around that. From that primary process, you will find listings, and everything else evolves from that.

The Formula for Listings

So how can you find more listings in this changing property market? Before giving you a set of solutions, I will say that ‘change is good’ in commercial real estate, and right now, we are in a new property cycle of change. Tapping into that change is a skill the best agents master and hone for the long term.

As mentioned, the property market is changing again this year, and people (our potential clients) are looking for ideas, help, and solutions. They are the people you must find and build relationships with. Here are some strategies to help with that.

1. Real Estate Targets

Be specific about whom you connect with, given that some people are more relevant than others in property interest, ownership, use, or investment. Setting some criteria around your ideal client base is a good idea.

So, decide what categories of clients you would like to serve; initially, they could be property owners, investors, or business owners, and from those groups, you can break things down.

Remember that there are also unique groups of people in segments with ‘special’ contacts. They could be medical, allied health, service stations, childcare centres, shopping centre owners, or fund managers.

They all have property interests and needs. How can you connect with them and serve them in this changing market?

2. Property Locations and Precincts

Break down your local area or territory into smaller ‘chunks’ and then delve into each precinct.

Research particular property locations and streets and break your allocated territory down into priority zones of focus. That makes finding quality properties or people to work with a lot easier.

3. VIP Groups

Establish a VIP list or lists for ongoing contact. As a natural progression from the earlier point about talking to people, you will find people of higher value to you over time.

That could be repeat business or transactional size. As you gather those names, think about how you can serve them and be more relevant than the other agents that will also be connecting with them.

4. Time and Task Focus

Spend 50% of your day talking to people. That is where you will find the new listings you seek. Don’t allow anything to disrupt your real estate days’ prospecting focus.

Conversations create real estate business; you need to set up systems in your diary to enable you to have those conversations. As you connect with people, watch and learn the secrets of other successful local real estate agents.

What are they doing that you can replicate? Are they doing other things that are new business opportunities? What can you do, and what information can you provide that is better than that of other agents?

Find Better People and Properties

So, these are the basic rules for winning more listings in commercial real estate.

The facts are simple and may not be ‘rocket science’, but it is surprising how many agents can’t or won’t spend time on the basics of the industry and creating more ‘connections’. You will find better people and properties to work on when you get the basics right in your real estate day and planning.