As a commercial real estate agent, you must understand local market trends and sustain the right market knowledge for commercial and retail property sales. Things change frequently in commercial real estate.

This up-to-date local property market information will greatly help you regarding the listing and presentation stages of client interaction.

Most clients would like to think that they know a lot about the property market, particularly their property; however, the truth is that they need to improve when it comes to true market awareness.

Be Informative and Helpful

On that basis, we should take the client through an informative presentation that helps them understand what is happening in the property market today.

Here are some guidelines for that.

1. Existing listings on the market now in the local area will impact the listed property. Look for other listings in the local zone or precinct that are comparable to yours and priced to sell quickly. The question will be just how long those properties have been on the market and why they may have yet to sell. Those questions will give you some trending factors for your listing.
2. The prices being asked will vary from property to property. In some cases, the type of enquiry in the real estate market today will limit how much money can be spent. As the price of a property goes up or is in a higher price range, the number of qualified and valid enquiries falls.
3. Prices achieved in an actual sale should be tracked. Sometimes it can be challenging to obtain the final sale results for a specific property; however, over a few months, word will spread, allowing you to discern the difference between the original asking price and the achieved sale price.
4. The time on the market will extend when the market is slow or the property is unusual. Look for those factors at the time of listing. The client must be briefed and primed for the slow sales cycle. That being said, there are always ways to shorten the time on the market.
5. Where the enquiry for the property comes from during the year will vary. Sometimes the enquiry will be local, while other times you can look to a broader market for potential property buyers. These facts will impact your marketing recommendations and decisions.
6. What are people or buyers looking for in particular properties today? Technology and the amenities and services listed in the listing might be a challenge for older properties.
7. What is the target market for the property? On that basis, the question should be asked about how the property should be featured in marketing activities. You are the expert, so your opinion and expertise can solve that question.
8. Tell the client the best method of sale to suit the market and the property today. The client wants results, and the method of sale will impact the type and volume of enquiries you get.

These factors will help you show the client the best way forward.

When you list a property for sale, the client’s decision to list should not be based on the discounts that any agent offers but rather on the combination of strategies that evolve from all of the above. That is the making of a top agent today.