Today your efforts as a top commercial real estate agent just have to grab the attention of the market. You must prospect with system and effort. In this way you can build more opportunity around you in listings and clients.
There is no point in being the best local agent if the market knows nothing about you. You might be the specialist that everyone needs today, but the message has to get out to the people that need you. Your personal marketing plan has to do this. It is an ongoing process and effort, but the rewards are there for the agents that work hard at it.
Here are some prospecting tools and systems that will help you in commercial and retail real estate agency today.
- Previous sales in the area are a great source of opportunity today. What you do here is to go back in time to about 3 years ago. Look for the sales and lease deals beyond that point. They are going to be (on average) the next transactions to come into the market. Commercial real estate is built on a cycle of ownership and leasing. Work out what the cycle of time is and prospect in front of the cycle.
- Other agent’s boards give you the opportunity to talk to local property owners in the immediate vicinity of that board. They may like to compete with the current listing. They are more likely to do that with a competing agent such as you.
- Your signboards will build profile across the market. Make sure that your name and contact details are on as many boards as possible. Ensure that all your exclusive listings have special signboards of high quality. Standard signboards should only be used on open listings.
- Business owners locally know more about the area than you do. Get to talk to them and see what their property needs are. Ask them about the business and property changes locally.
- For sale by owners are always targets for us. In most cases these owners should be left to struggle for some time until they feel the pressure of the market. The fact of the matter is that most buyers and tenants would prefer to deal with an agent as part of any negotiation on a property.
- Cold calling and door knocking is a daily requirement in our industry. Make sure that you devote 3 hours to the process every day. I will say that many agents hate it for a variety of reasons; this makes it better for the people that can do it.
- Use a good database software program to capture your contact activity and plan your email newsletters and ongoing call contact.
All of this takes systems on the part of the salesperson. When you get these things under control, the property market starts to open up for you.