There are some valuable buying signals to watch in commercial real estate sales. That is especially so as the property cycles and market start to move again. Look for the rebound of enquiry and buyer interest, as it will be there. Talk to lots of people and make that the ‘golden rule’ of your business day.
It is good to track buying indicators because it helps you in advancing the inspection or negotiation. If the interest is there in someone purchasing or negotiating further on a commercial or retail property, you will generally see and or hear the signals, and you can then work them also. Some people need that extra ‘nudge’. As a professional agent, you can do that.
As the property market continues to shape and change in this new real estate cycle, there are clear advantages here for the agents that work the property cycle changes entirely and comprehensively. Encourage situations where buyers and sellers can talk, share information, and ask questions. Move them through the ‘buying cycles’ of commercial and retail property in your location.
Being Professional in Brokerage
You could say that this is all about being a professional salesperson. Make your real estate career and negotiations easier now by listening deeply to the new people as they emerge to talk about property situations and requirements. Take them through the sales stages.
Who are the people that are emerging in the property market today? They are the people that are looking for new investments, or business owners that require occupancy opportunities in the form of other sites to operate their businesses from. In those two groups of people, you will find the leads and the transactions that you are looking for.
Explore these Signals
Here are some ideas to help with that ‘opening up’ of the buying signals:
- Questions and comments – when people start to converse about a property ‘in-depth’, they are investigating the alternatives of the property in their situation, and how things will suit them in moving forward. Go out of your way in providing better and more in-depth information where those conversations move ahead.
- Providing more information in comprehensive form – today you can give plenty of information in digital format, but also in so many ways. Be creative and informative in the information that you provide. Consider providing maps of the precinct, photographs in digital album form of the subject property, inspection checklists that feature the property listing that you are showing, a property history summary, outgoings and costs summaries of the property, and case studies.
- Taking inspections after qualification – as you move through a property inspection, information provided by way of handouts and local area updates will help. Allowing photographs will also help the inspecting party take a ‘visual’ record of what they are seeing, and that could help in making a business negotiation decision.
- Encouraging second level site visits – sometimes the interested parties require that little ‘extra nudge’ to move ahead with a negotiation. That momentum can be achieved with the ‘second inspection’ process.
The buying signals are usually there if you look for them. It is only then a matter of moving further into them. Be prepared to observe and listen to the parties of a property transaction at a ‘higher level’, then ask questions. That is how you expose the ‘buying signals’ that you can then work on.