In this commercial property market, you really do need to market yourself comprehensively and consistently to the clients and prospects that you deal with. Your competitors will be doing everything possible to undermine your listings, attract your clients, and interfere with your leads and opportunities. It’s a tough industry, but it is also very rewarding for those agents that can systemize their actions and keep up their focus.
There is nothing new here of course when I say that it’s a tough business world today; our industry is competitive. Before everything else in commercial real estate, you must be a good marketer of your skills and services. Every day you should be reaching into your database of contacts to consolidate your brand even further.
Here are some tips to help you consolidate your personal marketing plan as a top commercial real estate agent.
- From a marketing perspective, you will always get more leads and opportunities from quality listings. This then says that most of your listing efforts should be directed towards properties of quality and desirability. If you list low grade properties, you will attract low grade enquiry. Get to know the right people with the best properties locally, and network them regularly.
- Each listing that you take on should be a controlled listing. This means that your listings should be ‘exclusive’ by nature. You should have control of those listings for a reasonable period of time. Avoid open listings unless you really believe you can find the right person to take the property on. Open listings are generally a waste of time given that you have no control over the stock. In the open listing scenario, the clients are always listening to many agents at the same time and are therefore quite untrustworthy.
- Every quality controlled listing should be supported by a dedicated marketing program and vendor paid marketing funds. This then goes back to the point and the importance of exclusive listings. The equation is quite simple. When you control the stock, you control the enquiry, and therefore you can close on more successful transactions.
- A successful sales or lease transaction should be communicated into the local business community and the surrounding property owners. Any success that you have with a listed property is an excuse to spread the word of the positive result. Be known as the local real estate agent of success and results. Spread the message of your success locally. Most of your leads and opportunities will come from the local property market exclusively.
- Every quality listing and exclusive listing should be personally marketed into the surrounding property owners and business community. This means lifting the telephone to talk to the right people, and door knocking the streets surrounding the listed property. Use every listing as an excuse to talk to more people.
In this property market today, there is an abundance of stock and a shortfall of qualified enquiries. Some buyers and tenants cannot act in a market like this today. For this very reason, every listing that you bring into your books should be optimized for maximum enquiry and market penetration. Use that quality listing to get the message to the market.
You can get more tips like this in our Newsletter right here.