The current health situation around the World is creating change in commercial real estate, but the property industry is still active, and sales transactions are happening. The problem that many agents are now seeing is that of listing stock. Getting on the telephone to find listing stock is far more critical than ever before.
Properties are selling, albeit at different prices. There is no point assuming that rates will remain the same because they won’t; the people of the property market determine prices and demand. Buyers are waiting for price reductions, and they will get them. If they can buy in today’s property market, they will have substantial cash flow capabilities and lenders to back them that are comfortable with their customers taking up new property opportunities now.
New Listing Stock Priorities
So, you should target listing stock and potential listings. That is where the telephone becomes essential. Research is required to find new people to connect with; that research is a personal responsibility and cannot be delegated. Use the quiet time in your home-based office to research your lists and your people.
Some of the people that you are calling will initially not be available, that is why call tracking, returning phone calls, and conversational notetaking will be crucial. Answering calls and using valuable local area information will help you build your momentum and sustain positive outcomes from the call connections that you make.
Call Tracking Approach
Here are some systems to help your call tracking activities:
- The numbers of calls that you make every day should be consistently large, so you will need lists and telephone books to help you achieve that. Use the business telephone book when you run out of local numbers in your existing database and your current files. The business telephone book will give you plenty of people to connect to on a regular and ongoing basis. The approach to businesspeople is mainly to identify those that need help with property changes and choices. Some business owners will need to sell, and, on that basis, they will be prime candidates for sales and leaseback activity. Simple conversations on the telephone will help you find property people needing help.
- Property investors fall into a few separate groups. That is those that can act now, those that want to move and can’t yet do anything, and those that are struggling with property ownership and cashflow. Go through your client and investor lists every day and keep track of who you speak to and what they will say to you. Find out where your clients and prospects position themselves.
- Some businesses right now are quite busy given their supply and or connection with the health crisis. Transport companies and logistics firms are a case in point. They are very busy keeping up with moving goods and services around. Medical groups are another example of high-level activity in this health event. General practitioners and hospitals need property solutions for some of their actions. Pharmacies could require secure storage facilities. Some of those property solutions may be short term, but they are real and immediate. Connect with all the medical and allied health groups in your area today.
These situations are all reasons to make plenty of outbound calls. Consider the groups of people that exist in your city now. Look at your lists of people and start calling them in logical and specific ways.