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Major Change Initiatives for Commercial Real Estate Brokers

Most years in commercial real estate will dish up a variety of market conditions.  You have to be versatile and driven as an agent or broker.  If something is not working for you, look for the signs and then implement change.  There are plenty of people to watch and use as role models.

(N.B. these ideas are also sent out to regularly to our friends in Commercial Real Estate Online Snapshot to help amplify brokerage results…. Get your access here)

What are the signs?

Top agents leave a trail of skills and information that you can replicate.  Watch what they are doing with their listings and marketing, and then pick the best activities for your own implementation.  Apply your own twists to a property initiative; there is no point in being ordinary in commercial real estate today.  Learn how to stand out as the person that commands the market and the enquiry.

Don’t struggle

If you are struggling in the market place, then create some major changes in your business and marketing efforts.  So how do you do that?  Try some of these for starters:

  1. When you take a property type and specialize in it.  You can monitor key performance indicators and weave those indicators into your client presentations and marketing recommendations. Real facts will help you connect with the client.  Show that you are a critical part of the marketing process.  Tell the client exactly what you will do if the client appoints you as the agent to resolve their property issue.
  2. Look deeply into your client relationships. Some of those clients will be well placed to take action on a quality listing.  Keep your VIP clients fully briefed on the best listings as they come to market.  There is nothing wrong with holding an inspection early in the campaign with your preferred and qualified clients.
  3. The email marketing process today is something that is part of the business. That being said, you can do it generically, or you can do it with relevance.  Why not send your campaigns with some focus or property type in mind?  Don’t send out too many properties of different types to everyone that you know.  Be more specific in segmenting your Email marketing efforts to business owners, tenants, landlords, and investors.
  4. Don’t just market your listings online; market yourself. In saying that I mean creating some valuable online property based information in a regular way that can help people.  The best way to do that is through a blog and a series of resources and articles shared on that blog.  You can then link your social media back to the blog, in that way showing your clients that you are significantly better than the other agents locally.

So there are some good things that you can do here in creating major change in your property and marketing efforts.  Don’t be ordinary in commercial real estate brokerage; strive to be different and relevant.

(N.B. these ideas are also sent out to regularly to our friends in Commercial Real Estate Online Snapshot to help amplify brokerage results…. Get your access here)

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Finding Robust Market Conditions in Commercial Real Estate

The commercial property market is always changing, and the shifts and swings each year will move from buying to selling, as well as owning to renting.  Property developments also come and go from the market based on expected growth in a location.

Somewhere in those changes you will find property opportunity to work with the right clients and prospects.  The foundation of your real estate business will come from your database and the people that you are connecting with on a regular way.

(N.B. these ideas are also sent out to regularly to our friends in Commercial Real Estate Online Snapshot to help amplify brokerage results…. Get your access here)

Some clients are very active on property matters for the long term, whilst others are irregularly moving in and out of the industry.  Have you categorized your clients and prospects?  Who are the clients that will be doing things soon?  When you know the answers to these questions, you can take some direct action and move on some leads and property requirements.  Timing is everything in our industry ‘game’ so understand just where your clients and prospects sit in the timing cycle of change and activity.

Check your client list

So let’s look at your database and location now.  How well do you know your property market now?   Where are the next opportunities arising?  Have a think about these questions and answers:

 

  1. Where is the vacant land currently that could be the subject of a new development in the future? Whilst property development will come and go from the momentum of the market, future demand will eventually ignite a new building or property complex.  Watch for the zoning changes that could lead to a property release and new development.
  2. What are the classes of property that seem to be creating the most inquiry now and into the future? A regional assessment will help you pick a few property classes that seem to have most of the interest from the market.
  3. What can you do with investors to open up some buying and selling activity? Some investors are very aware of the need to grow or shift certain property holdings in their respective portfolios.  You can achieve some real momentum in knowing what these owners are thinking and planning for.
  4. What are the local businesses looking for when it comes to property occupation? There will be parts of your town or city where businesses like to occupy premises.  Look at the trends and pick those areas.

 

These 4 simple facts allow you to optimize market conditions in commercial property.  Stay close to the transaction momentum and the current listings in your territory.  Listen to what people are saying and identify what they are thinking; pay special attention to investors and local business people.  Within those groups you will find the future property deals that you are looking for.

(N.B. these ideas are also sent out to regularly to our friends in Commercial Real Estate Online Snapshot to help amplify brokerage results…. Get your access here)