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How to Win New Clients in Commercial Real Estate Brokerage

City view at sunset

In commercial real estate brokerage sales and leasing today, the clients that you know and work with are the foundation of your listings and commissions over time.  Your client list has to grow in a continual way and that should be the ‘top priority’ of your working day as an agent.

Note: if you want more client contact ideas as an agent or broker, you can get them here in our ‘Snapshot’ program – its free)

 

Client Focused Questions

Here are some key client questions for you to consider:

  1. What is the best type of client for you to serve locally?
  2. How can you ‘stand out’ as the agent of choice in your region?
  3. Why should clients remember you as an agent when they need property help?
  4. Why are you a better choice than your competitors from a ‘broker’ perspective?
  5. What is your service approach to ‘exclusive’ clients and how is that special?

As you strive to build market share as an agent, these questions are quite important.  Your database, and client interaction should be built around these core issues.  Your answers to these questions should not be ‘generic’ if you are to capture a good share of the local property market and client base.

In this audio program by John Highman, you can learn some more facts about client contact and conversion in commercial real estate brokerage.  You can get the audio below:

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How to Engage with More VIP Clients in Commercial Real Estate Brokerage

city buildings on edge of harbour

In commercial real estate brokerage it is important that you segment your client list into groups and opportunities. As part of that, you should identify the VIP clients that you know and those that exist in your local area. They should be the primary targets of your prospecting model in an ongoing way. (NB – you can get our free commercial real estate training right here)

In this audio program, John Highman talks about the strategies behind VIP database management and the professional skills of commercial real estate sales and leasing today.

Learn how to improve your real estate business and grow the opportunities with the right clients in the right way.

You can access the audio program right here:

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Things I Have Learned About Database Systems in Commercial Real Estate Brokerage

city buildings at sunset

When you work in commercial real estate, you really do need a good quality database that you can rely on to find the right people and properties as part of a matching process.  Whilst it seems so logical, most agents struggle with the discipline of a database.  They have issue with things like:

  • Finding the time to make the calls
  • Capturing all of the information from meetings and calls
  • Keeping up the call momentum
  • Integrating the client list with emails and brochure dispatch systems, etc.

So the list can go on.   The database is the prime way to find real estate opportunities and do something with them.   Today there are plenty of options with software brands, data collation methods, and pipeline tracking, for some positive results to be achieved by any broker or agent in commercial real estate.  Everything comes down to personal application and effort.

You don’t have to pay a lot of money to have such a program helping you grow your real estate business.  One key decision in all of this is whether you should go ‘cloud based’ in your data storage.  Common consensus says you should, given that most people like to access their client and prospect information from a variety of devices when they are away from the office.

In this audio, John Highman talks about the client list processes and how you can work the data that you gather from your clients today.

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How to Get a Prospecting Pipeline Established in Commercial Real Estate Brokerage

city at night

When you start a career in commercial real estate brokerage, your new business or prospecting pipeline should be established quickly and comprehensively.  Its a personal thing that you cannot delegate.  (NB you can get our prospecting training in commercial real estate here)

What you are wanting to do here is drive new leads and opportunities your way so that you can establish a good list of clients and property opportunities.  That’s how the industry works.

Think about your client list right now. Here are some simple questions:

  • Could it be better?
  • Have you prioritized ongoing contact with key people into the future?
  • Have you segmented your VIP clients from everyone else?
  • Do you know where your next listings will be coming from?

So these are the questions that will have positive answers if you build a prospecting pipeline at a personal level in your real estate business.

In this audio program, John Highman, Commercial Real Estate Coach, talks about how you can build a good prospecting model that can work for your real estate business in a positive way.

You can listen or download the file here:

 

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How to Build a Network of Commercial Property Investor Clients Faster

city building

Local property investors will and should be an important part of your real estate business in commercial and or retail property.  The important thing here is that you are building your network of investors in a constant and relevant ongoing way.

(N.B. these ideas are also sent out to regularly to our friends in Commercial Real Estate Online Snapshot to help amplify brokerage results…. Get your access here)

 

Know the uniqueness of investors

Commercial and retail property investors are unique when compared to those others investing in residential property.  Commercial and retail owners have challenges and opportunities arising in property ownership and development; they work from a base of logic and opportunity.  Tenants, market conditions, and rentals are quite volatile and can disrupt property cash flow; I call it the ‘disruption factor’.   You can control those things.

 

What do they know and want?

Investors shift and change assets based on the market conditions and how they are placed in that from an asset perspective.  Get to know your clients and their assets from a strengths and weaknesses perspective.  It’s really important when you are looking for listings and commissions.

So how can you work with this ‘disruption’ factor in a positive way?  You can be the solution provider, by staying ahead of rentals and occupancy issues locally.  Your database of businesses, tenants, and property owners will help greatly with that.

 

Your database and client list

Look at your database now.  How comprehensive is it?  More importantly, how up to date is the information and contact detail in it?  Put your database at the center of your real estate business, and you will then find leads and opportunities to act in sales, leasing, and property development.

 

Fast formula for investor services

So how can you build a local network of investors and then keep them as property clients for the long term?  There is a fast formula here to create.  Think about these things:

 

  1. Market rental updates – Rental changes will happen in precincts, property types, and particular buildings. Stay ahead of those rental changes and chart the gross and net rents for the asset classes.
  2. Supply and demand assessments of the local area – Why are businesses and people moving in and out of an area when it comes to business operations? Look at the historic supply of land and property, and then do some projections in looking at the next 5 years.  There will be some property redundancies and new developments to work with if you delve deeply enough.  Research your property market comprehensively for both supply and demand and tell your clients what is expected to happen locally.
  3. Regional zoning changes – Pressures of the community, the environment, and local business growth will create situations of zoning change. Roads and local transport activity will also create that change.  Stay ahead of zoning activity at the local property planning authority.  A simple zoning change will likely create business movement.  Look at that factor for listing and commission development.  Get copies of the local zoning maps so you can see what property changes are possible in locations.  Show your clients the local zoning maps and keep them appraised of what developments are coming up on the ‘investment horizon’.
  4. Tenant movements in and from local buildings – When you know the tenants that are moving locally, you are of real value to the property investors that you serve. Market your professional services on the basis of tenant movement and coverage.

 

All of this says that you should have a precinct focus for new business and investment service.   Don’t spread yourself too far as a property expert; you simply cannot cover every location and property type and then be aware of what is happening in rents, sales, and the supply and demand for the zone.

Be the specialist for the location, and on that basis you will be far more useful to the investors that you serve.  It’s not ‘rocket science’.  Keep things simple in commercial real estate brokerage and understand how you can serve the investors locally.

(N.B. these ideas are also sent out to regularly to our friends in Commercial Real Estate Online Snapshot to help amplify brokerage results…. Get your access here)