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As a real estate agent, and if you want to list and sell more commercial property in any market it is necessary to focus on the key things that build the business, convert the listings, and close the deals. The more people that you know in any property market the better. Vendors and Landlords that you service will benefit from the strength and diversity of your database.
Here are some key tips for real estate agents in listing and selling more listings in any market and economy:
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Keep a tab on the number of listings in your area and your percentage of that number. Ideally you should be towards the top of market dominance.
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Your sign presence in the local area is of fundamental importance to building market share. The number of signs that you have on properties for sale and for lease will directly assist the marketing of your business. Most property will sell or lease in the local area and to local businesses or investors. Make sure your personal name and mobile cell number are on the signboards you place on property.
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The time on market for property always changes. That is due to the pressures of the economy, the availability of finance, the price and method of sale that is set, and prevailing local buyer sentiment. Keep a track on the time it takes to sell listings in your area. There is a reason for every sale and every non sale. Many listings are over-priced or incorrectly promoted. They are good sources of re-listing when the seller wants to get some fresh approach to their unsold property.
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The quality of your property listings is a good barometer to the sale and settlement process. If you have average listings, you get average enquiry. If you have good listings, you will open the door to quality enquiry and build a high quality database. It is the database that becomes the lifeblood of more business and commissions.
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The method of sale that is applied to each property sale should be well considered. There is no point in auctioning a property that is not ready for it. There are a good selection of sale methods to use depending on the requirements of the seller and the attributes of the property.
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Building a profile of the buyers in the current market will help you match property to enquiry. Every buyer that comes to you should be categorised in the database for property type, location, price range, improvements required, and timing.
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Underpinning all this is the prospecting process that you apply in commercial real estate throughout the local area. When you talk to more people you will generate more business. It's that simple.
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Market knowledge will always help in negotiating with sellers in the listing process. The prices and marketing processes of other local property will help your seller understand the KPIs and choices that they have.
The pain of property that has to be sold or rented is evident in this market. Tap into the sellers and landlords that have some pain and offer the relief strategy that they need.
John Highman is an expert real estate author, conference speaker, and coach. He helps Real Estate Agents to improve their market share,
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