As an agent this next 12 months can be a very big year for you in property commissions and listings. Many property markets are showing signs of consolidation and activity. Businesses and property investors are looking to upgrade or shift focus. That means sales and leasing activity.
Revisit your database and everyone in it to see what those people intend to do in the next twelve months with commercial and retail property.
There is a ‘golden rule’ in commercial real estate that needs to be remembered if you are to improve your results. The agent or broker with the exclusive listing stock will control the inquiry. Top agents focus on converting exclusive listings.
Most top agents will be running with up to 15 exclusives at any point in time. Given that those top agents will convert those listings to completed deals at a ratio of better than 60% you can now see the importance in lifting your listing numbers.
Here are some ways that you can make this next year very successful in commercial real estate brokerage:
- Specialize even more in your territory on the things that are attracting the attention of buyers and tenants. Drill down into the facts of the market and how you can attract more inquiries and top clients or investors.
- Create some powerful marketing campaigns on vendor funds and exclusive listings. On a monthly basis total up the marketing funds that you have obtained from your clients and prospects. On a month by month basis, those numbers should be increasing.
- When you have a listing it is the start of the process and not the end. Some agents lose focus when they convert the listing; real effort is required to spread the word about a quality property and offering. Understand what the property is and who it will attract.
- Devote much of your marketing efforts on exclusive listing creation and conversions. When you control the listing stock you control the property, the marketing, the deal, the negotiation, and the client.
- Look at additional promotional processes that you have overlooked or not yet mastered. That can include blogs, articles, editorials, email newsletters, social media, or website exposure. Your online profile should be strong and growing; the search engines today are looking for valuable content to assist the searching public. You can attract those search engines by writing content and adding it to your website and blog.
All of these things create leads and opportunities. Load valuable information into your database and lift your levels of client contact. This next 12 months can be a massive year in commercial real estate brokerage if you set the right ‘wheels in motion’.