Commercial Real Estate Client Opportunities

woman using laptop
Focus on your commercial real estate clients.

In commercial real estate agency and brokerage today, it pays to understand the needs and requirements of all of your top clients.  Those issues will change for those clients throughout the year with the seasonal pressures of property activity and the economy.

Put yourself into the position of the client that you serve, and provide tactical and strategic property information to optimise ownership opportunities; in doing so help their investment performance.

Here are some other variables that will have an impact on your top clients:

  • The supply and the demand for property locally within the property type
  • Upcoming new property developments within the region
  • Vacancy factors impacting tenant enquiry with investment properties
  • Changes to the zoning or development regulations as they apply to the precinct
  • Property redundancy and or change
  • Changes to the roads and infrastructure supporting property occupation and use
  • Shifts in business sentiment applying to a property precinct or property type

Taking all of these factors into account, the prices and the rentals within your territory will change significantly throughout the year.  As the local property specialist, your clients really do need your assistance with the knowledge and intelligence that you can bring to their investment performance.

Sometimes we tend to overlook some of the key clients within our market place.  Quite soon the competitors and the other agents in our industry are grabbing a significant slice of our market share.

Within your database today, establish a special service process for high value customers and property owners.  It is almost like having a VIP club within your database.  Service those special clients with highly specialised property information; that can be through regular updates on supply and demand, and tips regards property performance.  Over time you can become the agent of choice when it really matters most.

Here are some ideas to help you with client communication and servicing:

  1. All of your clients and customers should be asked to join your database.  As part of that process, ensure that they are comfortable in getting emails from you together with newsletters on local property activity.
  2. Your VIP clients should be spoken to personally at least once per month.  Stay ahead of the local property changes within the precinct and around their particular property location.  Give the client updates regards the location and the precinct.
  3. Identify any competing properties nearby that could have an influence on the performance of your client’s property investments.  Look for any exposures or risk that can flow back to the tenancy mix or the income base for your client’s asset.
  4. Write a regular industry update or blog regards local property activity, and changes.  Link that update or blogging process back to your social media activities and your database.  You can also link your informative blog to the regular newsletters you send out to your clients and prospects.

 

The best client relationships in our industry are built on trust.  That trust takes time to establish however it will bring you significant opportunity over time.  Top agents build and encourage good client relationships.

Author: John Highman

Commercial Real Estate Broker, Coach, Speaker, Author, Broadcaster.