Many commercial real estate agents will tell you they sell commercial property. The reality is that only a few individuals and companies in any given area sell a lot of commercial property. There are some reasons for this.
Many salespeople only do general commercial property sales and do not specialise in any particular property segment
Database size and diversity is low offering small numbers of prospects
Market intelligence on sales and values is poor
Prospecting is a random event done as a last resort when things are tough
The links between property leasing and sales is not respected and optimised
Focus on skills and knowledge development is lacking for many individuals
To be the best local salesperson specialising in commercial real estate, it requires focus, diligence, and hard work. Given that many salespeople do not really reach the pinnacle of a “local industry leader”, the gate is wide open for those that choose to work hard and be the best at what they do.
To gather market share around you and more commercial property listings, even more commissions, then the following is a blueprint for progress.
Get more signboards up in the local area with your name on it.
Direct mail all the business leaders of the major businesses locally and then call them to follow up and put a name to a face.
Start prospecting and cold calling all businesses and investors. This should be done every day at the time that most businesses are willing to take your call.
Walk the streets that contain commercial businesses and meet the occupants.
Pick up business cards from the local tenants for later follow up.
Check out prices and the time Buying 5 Year Old House on market for previous sales.
Understand rents and prices per unit of measurement Mckissock Broker License relative to the property type.
Know what an investor needs as a yield to purchase a property today.
Prospect any person or company that has owned a property for over 3 years. They will be the next to consider sale, relocation, or expansion.
Target the major properties in your region that contain the best businesses and speak to the proprietor about property needs and trends.
Canvass all commercial properties on the major highways. Getting a sign on these properties will be of high value to your local branding.
Know where all commercial properties for current sale are located and the terms on which they are offered.
Build your database each day from all the people you talk to and keep in relevant contact.
This is all about knowing your property market and staying in front of the trends and needs. Commercial real estate is really a people business. The industry is built around logical decisions for both landlords and tenants. When you can provide the property logic and the right information, then more listings and commissions can come your way.