As the property market changes faster than most people expect, it is the clients and your property listings that will help you drive your real estate business on and into the new property cycle. It is already a sales market, and updated prices will set in most locations.
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The buyers and the investors of commercial property are waiting, and the sellers are looking at strategies to resolve challenges and pressures. That is where we, as agents, should step in.
Where Can You Start?
It is a matter of finding the right people and those that need help. How do you do that? You make plenty of calls every day. The situations of property sales and leasing are out there for you to find.
Do not struggle with this property market; there is no need. As agents and brokers, we do not set prices, but we do help our clients to find solutions for buying and selling. When you look at this new property cycle and those facts, you can see exactly where your marketing approach should be directed.
Building Better Connections
It is time to build your connections with new people and refresh any old links. The possibilities are endless. Business owners and property investors are the targets to focus your real estate business on and into. Ask questions of local people, and you will find the new business that you require. Do not take too long to get the situation and the strategies underway.
Brokerage Rules in a Changing Market
Where can you start, and what can you do? Here are the ‘basic rules’ to work within this changing property market:
- Connections are critical – you have two levels of relationships to work with here. That is the people that you already know, and those that you have not spoken to before. Make the calls and continue the process. There are plenty of situations where people want to talk about commercial real estate leasing and sales situations. Be open to working with sellers, buyers, tenants, and landlords. Track each of those connections in your database so you can stay in contact.
- Relevance – from the previous point, your significance and timeliness in the connections you make will be critical. Who are you going to connect with, and what will you say? The best approach to those things will be relevance. You can talk about local property sales, prices, leasing, rents, and trends in a region of properties. As an agent in a location, you will have plenty of information that you can draw on and speak to. The best way to do that is by showing trend graphs and statistics. As the property market changes (and it always does), those graphs and figures will help you illustrate the ways that property will transact in the future. I go back to the point that you do not set prices or rents; you work with them to achieve a ‘best outcome’ scenario for your clients.
- People – select your ‘channels’ of people that you would regard as prospects and future clients when you do that you can connect with more significance. You can share information at higher levels of engagement. People will listen to you. Commercial real estate is not a complicated business, but it does involve lots of people and how you connect with them. Look at your client lists and prospect lists. Can they be improved or optimized? Can you add more people to those lists in an ongoing way? That is where you will find the new business if you consistently start a conversation and connection strategy in your real estate day and week.
- Property situations – as the local business economy changes, the property requirements and circumstances of people will change. Connecting with people at the right time is essential; however, the most critical situation for you is that you want your prospects to remember you and give you a call as they move into a property change ‘event’. It is not a difficult situation to understand and work with. It is, however, a specific business strategy that you can and should apply to your real estate day.
- Local area coverage and spreading the word – when you go deeper into the local area, you will find the new business and the people that want to talk about real estate changes and pressures. Split up your area into different streets, buildings, and priority zones. From that ‘split’ you can see where you should prioritize your actions. Give it a try.
All these things allow you to put more people at the centre of your real estate day and activities. That is how you can and should grow your real estate business. Make the changes in the way that you work and then shape your real estate activities around connecting with more people. Spend at least have a day, every day in doing that.