Today the commercial property market has become a buyers’ market in most locations. The property buyers can call the tune when it comes to the price and the final deal; yes the sellers do not have to sell their property at a lower offer, but the reality of the situation is that there are limited buyers and offers available for the given property listing. Any offer that comes forward may be the only offer. Sellers should face the facts when it comes to selling property today, and the agents need to help put the deal together in these slower market conditions; that’s what they appointed us for anyway!
So as real estate agents we need to specialise our skills in listing, negotiating, and closing. We have to work with less to create more. The skills of the individual are now more important than ever before; but that is what happens in a slower property market anyway, don’t you agree?
Every phase of the commercial property sales process is now centred on the success of the negotiation in various stages:
- Prospecting is a negotiation to get a meeting
- Negotiating the listing appointment is a sales pitch
- Getting a vendor paid marketing package is essential
- Inspecting the property with sellers to price the property
- Inspecting the property with buyers to get an offer for the property
- Closing the deal between the parties that are poles apart in price or terms
This year will be something like last year when it comes to winning business and closing the deals. You will have to work hard and with focus. The listings and enquiries can be found but you have to dig to get to them. Luck in the process may come your way, but it is the hard effort that everyone in sales should commit to.
If you want more sales enquiries then you will have to create the churn to produce them. That means talking to more people. Everyone knows someone and business people know lots of other business leaders. Ask the right questions and the relationships will open up to opportunity.
Get some more good tips for commercial real estate agents at our website http://www.commercial-realestate-training.com/