When it comes to commercial real estate agency sales, here are some identifiable Real Estate Marketing Trends 2019 facts and rules to follow with your listings and with your team.
When you list good properties, they will sell in any property market and in any economy. It is simply a matter of following the rules and finding a buyer that can act with suitable levels of financing.
Great properties will sell at any time and usually off market providing you have a detailed database of qualified buyers. The size and versatility of your database will be a critical component to territory domination.
Ordinary properties take time to strategise and market into your local area. They require a property specialist who understands the local territory and the levels of enquiry from the business or investor community. Ordinary properties also take a reasonable degree of target marketing and negotiation to get across the line. Time on market can be a real factor to monitor with the marketing.
The majority of properties you come across will be fairly ordinary and in category three How Soon Can You Buy A House above. On that basis all the skills of a good salesperson are required and used.
These are the required levels of expertise for a good commercial sales or leasing person in this market. These factors will overcome the challenges in any of the property types above. These factors can be practiced and learned.
Understanding the local property market historically and currently will give you the information regards the deals and the benchmarks on pricing and leasing. Add to this the factors of supply and demand and information on new property developments coming up.
The ability to prospect for new listings and people who are actively seeking assistance in the property market is foundational to listing success and market domination. As simple as this factor may seem, most salespeople do not have the long term diligence and persistence that the task requires.
The process of prospecting and generating appointments go hand in hand. The ability of the team and each salesperson to make contact with new people and then convert new listings is critical to the agency business.
A successful meeting with the prospect only occurs when the salesperson has the required property knowledge and the communication and presentation skills to match the needs of the prospect. Commercial real estate owners and investors generally understand the property market and the strategies behind it. The salesperson has to match or exceed the knowledge of the people that deal with.
The property listing process involves a number of decisions and targets. They include selection of the correct method of sale, determining the right information for comparable pricing, packaging the marketing campaign to reach the target audience, and establishing the momentum of the sale process, inspections, and negotiations.
The property inspection process can be quite special and relative to the particular property. It may require special considerations of inspection with qualified prospects. This means taking them through the property in a particular way to allow the features of the property to be correctly identified.
The marketing of property today is unique and special to the property type. The local area will also have impact on the marketing solutions you provide. The right choices that match the identified target market for the property are essential in every property promotion.
Attention to detail in the listing, negotiating, and contract process are essential and non-negotiable. All discussions and agreements need to be correctly identified and reflected in written representation between the parties and your supporting paperwork.
In reviewing this list, it is easy to see that the required expertise of the commercial salesperson today is quite high. All of these factors should be improved and practiced over time by each and every salesperson.