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Essential Listing Strategies in Commercial Real Estate

city buildings on harbour

Some listings in commercial real estate are quite slow to attract enquiry and move to the next level of an offer or negotiation.  That is where our creative professionalism is so important for the clients that we serve.

 

Sometimes, you will find that the listing will stay on the listing books for too long.  In such situations, it is necessary to try for a listing extension.  Your skills in client communication at that time will be fully tested as you ask for more time.  The client must believe that you are still the right person to continue to work on the property and handle the challenges that it or the property market presents.  Are you the best agent to stay on the listing for the future?

 

 

Time on Market Problems?

 

Why will a property take longer to sell?  Try some of these for starters:

 

  • The property market is slow to respond due to economic circumstances in the region or the business community
  • Enquiry is low for the property type or location
  • It could be the wrong time of year to market the property
  • The price range for the property is too high or it is out of the range of most buyers
  • There are too many other properties on the market currently and those properties are not moving.
  • The target market for the property is too narrow or wrong for the listing
  • Not enough marketing was done at the time of initial promotion
  • Too many new properties are coming into the market creating a situation of oversupply
  • The business community is moving from a purchase priority to a lease priority

 

There are plenty of reasons for listing ‘stagnation’.  You may also have other local issues that are also evident in your location, and those that you believe are fundamental reasons for the slower listing enquiry.  Either way, you must know the reasons behind a ‘stale listing’ and its failure to attract local property enquiry.  Strategy then takes over; that’s your job.

 

 

Recommendations That Matter

 

When you have the fuller information for the slower enquiry rate, you can concentrate on the property owner and package up a series of recommendations to win a listing extension of time.

 

Consider these strategies in asking for a listing extension:

 

  • Provide a plan of change to the listing and its marketing, pricing, and inspections.
  • Identify a new target market of buyers or new ways of approaching the target market.
  • Revamp your inspection processes to show the property in a new way.
  • Get the client to lift the presentation of the property to encourage more enquiry.
  • Create new advertising layouts and copy so that all ongoing marketing will be ‘fresh’.
  • Get some new photographs taken of the property to show different features and angles of the building, the internals, and the surrounds.
  • Give the client some alternatives of marketing and pricing to help them decide on the future promotions.
  • Ask for an adjustment to the method of sale or pricing if you believe that change will attract more enquiry.
  • Change the method of sale to suit the preferred target market.

 

From these issues you can create a timeline of changes for the client to see and consider.  The clearer that you can be in this communication with the client will help you in winning a listing extension.

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How to Build Effective Systems in Commercial Real Estate Brokerage

Hong Kong harbor at sunset

Personal systems are the foundation of progress and success in commercial real estate brokerage.  Those systems can evolve in key areas of the business personally.  In this audio program, I share the most important processes that I have seen and used over the years in working clients and prospects.

(NB – if you want more ideas to help your commercial real estate business you can get them in our Snapshot program right here)

Brokerage momentum comes from clients and properties.  The only way to get substantial penetration into those segments is through ‘process’.  Have a listen to this audio to see how your ‘process’ would compare currently as a broker or agent.

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Local Clients – How You Can Find More of Them

city buildings in Hong Kong

Local people are the foundation of a successful real estate business.  You can work with the key players of the real estate business locally and most particularly sellers, buyers, and business owners.  There are plenty of opportunities in commercial real estate to be sourced in those groups as part of a prospecting model.

(NB – you can get plenty of client tips and ideas in Snapshot right here – its free)

In this audio I talk about the importance of a ‘locally focused’ prospecting model and how that can work for you in your real estate business.  Drive more listings and commissions your way through a bias towards the local area and the people in it.

Here is the audio:

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Essential Commercial Real Estate Leasing Tools to Use with Landlords and Tenants

The commercial real estate leasing process is quite special.  You can work with tenants or landlords, but either way you will need some local area information and the tools to help you through any property inspection and negotiation.

In this audio, I share my thoughts on the tools that are most effective when it comes to engaging with landlords and tenants as they strive to arrange a lease on market conditions.  (NB if you need ideas to help you with leasing, you can get them here in Snapshot – its free)

Given that you know the property market and the trends in leasing, you can develop a ‘toolbox’ like this to create better real estate negotiations.

You can get the audio right here:

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Telephone Tactics and Techniques in Commercial Real Estate Brokerage

City buildings on Hong Kong harbour. Cranes in the foreground. Buildings in the distance

There are just a few ways to generate lots of clients and listing opportunities in commercial real estate.  One of the best strategies to use is the telephone.  Cold calls and call prospecting should be a ‘non-negotiable’ part of the real estate business.  Calls have to be made; new business can be converted more successfully when more calls are made.

Of course there are a few things to be practiced and refined in this prospecting process, so I have tried to simplify things for you.  (NB – if you want more prospecting ideas for new business generation, you can get them in Snapshot right here – its free)

In this audio program, I share some effective call strategies that help when it comes to a prospecting model.  Look at your real estate business today, and consider how these special processes could be added to your activities.

You can get the audio right here: