When you work in commercial real estate agency, you have to find listings. The listings for lease or sale come from one source and that is the property ownership.
In that case we have to contact and network the right people so we can convert new business. In most cases they are:
- Property investors
- Owner occupiers
- Business owners
Each of these will have a relationship to property that you can tap into.
So often I get questioned on if there is an ‘easier way’ to find property owners and property investors; the answer is simply that there is no ‘easy way’, and if there was it would have been found years ago.
The reality is that commercial real estate agents networking and contacting the right people takes time and a lot of systemised effort. There is only one way to proceed here and that is by using a good database that you can carry with you and update all records and any progress that you make. When you make the database your personal business focus, you will find more opportunity as you will be driving more enquiry your way. The rewards are many.
As we all know, many commercial and retail property owners will own the property via a property trust or company structure. Identifying just who is the right person to contact is where all the effort and hard work ‘kicks in’ for you. Some of the searching process involves title searches, company searches, referrals, talking to neighbours, and researching the council records. When you get used to the prospecting process you will know what works for you and how to go about things as effectively as possible. I am a great fan of ‘talking to business people’ as they will give you so many leads when you ask the right questions; they know the street and the adjacent businesses better that you do, and this knowledge can be tapped for opportunity.
The important message in seeking and finding property owners is that you must have a system that keeps you on track. Most agents are very random when it comes to this; if you can keep moving onwards and driving yourself in this prospecting process you will have better success than your competitors. When you work hard the industry rewards you in good listings and commissions.
You can get more tips from our website at http://www.commercial-realestate-training.com/