Commercial Property Agents – Some Personal Marketing Strategies for Today

How to prospect for new commercial real estate listingsSome property owners are sensitive to agents promoting themselves, although the reality of the situation is that commercial agents and salespeople have to be well known to be successful and dominate market share.

When you think about it the agents that dominate the market are the most desirable for clients to use and market their property through.  Enquiry is everything when it comes to selling or leasing commercial property.  The agents that are well known are the most likely to have a quality database of good contacts and qualified prospects.

Clients do not want to market their property through some unknown agent.  That is why and how you can show the client that any request for lower fees or commissions is not a part of the agent selection.  If they want to really sell or lease their property fast and obtain the best result then they need the agent that dominates the local area.  Commissions and fees are secondary to that choice.

If the client wants to choose an agent that offers the lowest sale costs and minimal marketing, then let them.  They are not the client that you need; let them waste their own time with the other lesser skilled agents with no or low market share.

To market yourself as a real estate agent specialising in commercial real estate, adopt some of the following ideas into your efforts and prospecting processes:

  1. Get your name on lots of signboards in your territory.  Importantly the signboards should be on quality local properties that create enquiry.
  2. Send letters to all the larger property investors, builders, developers, and business leaders in your area.  As part of that process you will need to make follow up calls so see if you can create some meetings.
  3. Start a personal blog on the internet talking about the properties in your local area.  This helps you with personal profile and will help the search engines rank you higher as the expert for the local area.  To do this you can use the popular blogging platforms such as www.blogger.com or www.wordpress.com
  4. Write and lodge articles on the main internet articles sites such as www.ezinearticles.com or www.articlesbase.com to show that you know a lot about the commercial property type and the local area.
  5. Cold call people on a daily basis to arrange meetings with qualified people that have an interest in local property activity.
  6. Speak at industry events or for community groups about property trends in your local area.  They are always looking for good speakers that know about the local area.
  7. Build a database so you can keep in contact with the right people in the property community.

As you continue to market yourself comprehensively through your local area, you will find that leads and opportunities evolve from the most unexpected sources; this will only happen when you market yourself.

You can get more free tips for commercial real estate agents and realtors at our website http://www.commercial-realestate-training.com/

Commercial Real Estate Agents – Protect Your Commissions and Fees from Shifty Clients

Whilst I may be biased, I have seen so many commercial real estate clients over the years take the advantage where they can to avoid paying full or any commission to the agent that has served them in a sale or lease transaction.  Some agents and salespeople that should have known better have been impacted by many tens of thousands of dollars after the client has avoided payments.

If the client wants to avoid something they just need to hand their agent’s appointment to their solicitor to look for a loop hole.  Solicitors are good at that!

So what is the message here?  Make sure that your agency appointments are ‘water tight’ and accurate.  If you do not know what that means or looks like, then find someone who understands just what a good listing document looks like and how it is completed.

All too often we see the media knock agents for an array of reasons; rarely  if at all will you see the reverse happen in the media when a client does the wrong thing by an agent when that client seeks ways to avoid paying commissions or fees.

We as agents have to be so focused on our documentation today.  Every appointment to act as agent on behalf of a client should be correctly signed and completed accurately.  If we do not do that we leave the door wide open for the client to avoid commissions and fees.

Here are my rules on that:

  1. Never trust a client no matter how long you have known them
  2. Question a client deeply and comprehensively regards their property and legal title
  3. If you are to introduce a buyer to another agent that has a listing of a property, make sure that they have legally been appointed to act as agent for the client and that your share of the commission is agreed to be paid by that agent at the time of settlement.  Get the conjunction agents written agreement to the process before you introduce your buyer.
  4. Get every appointment to act as an agent correctly signed by the client before you take action with the listing
  5. Get all instructions in writing from the client or in the case of verbal instructions evidence back to them in writing any instructions given
  6. Collect sufficient funds to cover your commission and fees before you settle a deal
  7. If you have a marketing commitment made by the client to vendor funded marketing, then get the money paid and in the bank before you lodge the adverts.
  8. Draw the attention of the client to the fees and commissions involved by getting them to sign the agency appointment and initial the clause relating to payment of costs and commissions

Remember that you are not a charity and that you provide some very special skills for the clients that you act for.  Do not provide those skills unless and until the correct documentation has been legally and accurately signed by the right property owners for the subject land or building.

If you want some more free tips on commercial real estate, visit our website at http://www.commercial-realestate-training.com/