There are many real estate agents in the local property market today. There are not however as many commercial real estate agents. Whilst many ordinary real estate agents may think that they can service commercial real estate property, the reality is that it requires specialist knowledge and information.
Many clients will choose an agent based on price alone and this is a big mistake. A lower commission incentive for clients and zero marketing funds will do little when it comes to getting a result for a sale or a leasing transaction.
The clients and prospects that we work with today should choose their commercial real estate agents based on local market experience, market coverage, expertise on the part of the individual agent, and commitment to the sale or lease marketing process. To get results in commercial property sales and leasing today, luck does not play a significant part.
The good agents know that hard work is required every and every day to get the message out to the market; they do that with the quality listings that they have on their books.
Here are some tips to help you match your services to the clients in your market today:
- Local market knowledge will always help you pitch and present your services to the clients and prospects. The knowledge needs to be comprehensive when it comes to the property type and the history transactions through the local area. To get this matter under control, you should be tracking all of the sales and the leasing activity through the region for the last five years. You can then load that information into some form of graphing process that can be used in your property presentations. The visual process associated with graphing is far more effective when it comes to helping the client understand what's going on locally.
- Being a specialist in a property type will help you with your sales pitch or your presentation. A true property specialist will understand how to package the property to the target market, and take it comprehensively to the buyers or tenants that are out there. Some properties should be confidently marked given the special identity or financial structure that they present. The larger properties may be sold off market. When you are a true properties specialist you can understand the differences that should apply to those marketing situations.
- The marketing process is not just a matter of designing a few adverts and loading them into the newspapers or the Internet. A true specialist will take each listed property on an exclusive basis and then connect the property to the identified targets. All of this will be done personally in addition to any generic marketing approach. That is why the exclusive listing strategy is far more effective when it comes to marketing property today; make sure that you are well prepared for selling your services on an exclusive listing process. It is the only way for you to control the property, the inspections, clients, and the negotiation. Top agents generally will not list a property on an open basis.
Given these three factors above, you can see the relevance and importance of specialization in commercial real estate agency today. You can be the agent that provides the high level of service and relevance to your clients in such a way that joins the best inquiry and a timely transaction. When this happens your opportunities for referral business and repeat business get much easier. That is how you become a top agent.