When you work in commercial real estate sales or leasing, you will know all too well the importance of quality listings. Finding the right properties to list and then winning them over the competition agents is an issue; given that so many agents are offering special deals and commissions to attract the clients. So what do you do in a tough market? Here are some ideas.
- The best way to win business and new listings is to create your own enquiry. This means prospect your own leads and do not rely on the open invitations that come your way to compete with other agents. The salesperson that prospects people solidly in their territory will always build opportunity.
- Every person you talk to is an entry into your database. Most successful salespeople will have a database that is accurate and up to date. It will contain on average 1500 active propects (not just contacts). Do not let your database get out of control. Every entry is in there for a reason. Keep in contact with all the right people.
- Property sales are usually on an average cycle of 5 to 7 years. Sure some owners will hold property longer than that, but it’s the average cycle that will show you the properties that are more likely to come up for sale soon or next. Create a list of properties in your area that were sold about 4 years ago and start to network those property owners each 90 days into the future.
- Leases are taken out in most cases for a period of 3 to 5 years. Yes some leases are shorter or longer, and there are lease options to consider, but it is the average of years that will tell you where the next leasing opportunity could occur.
- The professionals that support property owners and investors are very useful contacts in tough markets. They are the people that are helping distressed property owners to resolve property issues. Get to know all the accountants and solicitors in your area that have property related clients.
- It is hard for property owners to ignore you if your signs are prolific in the area. Get more sign boards on all the properties that you have listed.
These simple rules are the way to create territory domination. When you are known as the most active and successful agent in the area, you will attract new listings and opportunities to present. Property owners want successful agents to help them. Build your brand in that way.
You can get more tips and articles for real estate agents at http://www.commercial-realestate-training.com/