Every salesperson knows that they have to network to keep the opportunities coming their way. In commercial real estate sales and leasing, the networking process is a bit special. It is the local business community and the investors that should be at the centre of your network.
Consider the following questions when looking to improve or widen your networking skills and impact in the local area.
Just who are the larger businesses in your area that will need to deal with property issues in the future? Expansion and contraction are the things that you are looking for here.
Who are the most active property investors in the local area, and what type of property are they interested in? How long do they hold property?
What lists can you get hold of with all tenant and lease details in key properties and locations? All large properties with multiple tenants in situ should feature in your list.
Who are the decision makers when it comes to the local property zoning and development opportunities? Make certain you know just what zoning changes and redevelopment matters are coming up.
Who are the professional experts that help property owners “Property Brokerage Agreement” with sales and leasing decisions in the local area?
What property investment groups exist in the local area that may require Residential Real Estate Agent a guest speaker to talk about property at their meetings?
What business groups exist that may need a guest speaker to talk to them about property trends in the local area? Business people always like to know what has been happening to rents and prices.
This short list of people and groups are those that you should be focusing your commercial real estate networking efforts on. Networking has to start somewhere and that is at the level of the individual single person. A critical early part of the networking process is to ensure that they are a decision maker in one form or another.
The most successful salespeople in commercial real estate are those that create and build an extensive database of contacts. They then stay in contact on a regular basis with relevant local information such as:
Price trends in zones and areas
Rent trends and current rates by property types
Property on the market currently
Vacancy factors with trends on vacant space available
Supply and demand changes to local property
Community or demographic changes
You could say that the above is a simple list made up of market intelligence. The reality is that you have to know that information to be of any value to the people that you serve. The information also helps your networking efforts.