At different times of the calendar year there will be good opportunities to run a sales listing drive. As part of that you will be choosing the best methods of marketing and sale. Business and investor sentiment will also have something to do with the choices made here.
So you have some sales listings? Maybe you want more of that? Either way, here are the main factors of opportunity to tap into as you drive the sales momentum forward locally:
Timing for season and location – look at the property activity for the year, and reflect on the history for the area. Most sales calendars are best commenced just after the Christmas break and also just after the change in the financial year. In each case you have a few months to build momentum on listed properties, and the people looking to buy are not generally distracted in local business issues or holidays.
Best methods of sale for the time of year – you have a few methods of sale at your disposal. Choose the right ones that match the property and the client’s needs. At the basic end of the equation you will have auctions, tender, expressions of interest, and sale at a price. One or more of those methods will be the right choice for your listing. Talk to the client and get their commitment to your recommendations; explain the issue to them, and convert them. Match some vendor paid marketing into the right method of sale, and the exclusive listing process.
Talk to the right investors and property owners – every listing will be more or less attractive to certain segments of the local property market. Find those people by directly target marketing at an individual level. Get involved separately in doing that. Make sure that you meet with the right people in the right places. You want them to know you and remember you as the industry professional that they require.
Repeat contact 300/90 – in our industry, regular contact will always help listing momentum and conversion. All of the people in your database should be spoken to regularly. The 90-day cycle works well. The way to achieve that level of contact will be through deliberate calls, letters, and meetings. The database that you use should be adjusted to bring up that 90-day process of contact automatically.
Track your streets and location progress – when you have anything to sell or market, review the streets and the competing listings. Get very involved in local area marketing. Know what is happening in the streets and do something with that knowledge.
These simple strategies are all relevant and special in the sales drive that you may create in your commercial real estate business. Optimize the process of promotion and property momentum. The first few weeks of any sales campaign are the most important. Get involved and get active.
In commercial real estate brokerage, it is wise to understand the strengths and weaknesses of your business and its position relative to the competition in the local area. In simple terms you have to stand out in some way or form as a top agent working in a brokerage of choice.
How can you improve your real estate business if you don’t know its position in the local area? Your real estate ‘strengths’ have to be there as a support in your marketing and client contact processes.
Consider these questions:
Who are your competitors in the town or city that you cover?
Where are they located when compared to your broker location?
How do you compare from a real estate services and coverage perspective?
Why should someone do business with you now or in the future?
What is your core business type when you look at listings and location?
Why would someone come back to you and give you more real estate business?
You can see that these questions drive some very specific answers. They make you consider where you are today and what you have been doing as a broker or agent locally.
Let’s face the facts here, there is no point in being ‘ordinary’ in our industry; there are just too many other competing brokers and agents around. If you want to be ‘good’ in the eyes of the client or the customers out there, then some real ‘positioning’ is required.
Here are some ideas to help with this process:
SERVICES: Given the property services that you can provide, what are the most professional from a client perspective? Consider specialised services that take the real estate business to a new level such as tenant mix strategies, resolving vacancy problems, improving property values over time, or resolving lease weaknesses in an asset. Take your services and shape them into the ‘value statement’ that applies to the clients that you serve.
PEOPLE: Some of the people in your real estate team will have real skills that can be applied at a higher level to the properties locally. Consider your mixing and matching of property services across sales, leasing, and property management. Use the fuller skills of the team.
GEOGRAPHICAL AND PROPERTY FOCUS: You cannot be the ‘expert’ across all property groups locally; it’s just too hard to know everything at a reasonable level. To really drive some new business opportunities, select the property types and the locations that will give you a solid feed of new listings and clients over time.
Make the right ‘positioning’ choices and drive some personal marketing accordingly. Don’t be ordinary in what you do and say in client contact and direct marketing. Show the real estate world in your town or city that you are the right person that is needed to drive through the client’s property challenge in a timely and direct way.
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