Two Listing Tips You Must Have For Commercial Real Estate

In a commercial real estate sales and leasing, there is a significant level of opportunity that generates from two points. The first is other real estate agents signs, and the second is the cycle of the market. When fully understood, these elements can be actioned and optimised. That means more listings and more commissions.
In general, the sale and lease of all real estate is really simple. Commercial real estate is no different and perhaps even simpler than residential real estate. In commercial real estate you do not have the emotion that exists behind the family home. In commercial real estate you have a basis of logic and opportunity to work from; it is a business event and a business decision. The property simply has to serve as an investment, or as a property for an occupying business. These are the leverage points to make the deal work.
So firstly let’s look at the signage opportunity and how to use it. Most particularly I am referring to the other agent’s signs in your area. I am not saying that you should go behind other agent’s signs to attract their client or interfere Creative Ways To Sell A House Fast with the marketing process. That is not professional. It will also come back to haunt you in many different ways. You should only approach another agent’s client if the exclusive agency has expired, or if the client has approached you.
So other agent’s signs are an opportunity for you but in a different way than you expect. What I am saying here is that other agents signs should firstly be monitored both the number and time on market. This will tell you about your market share and how quickly properties are turning over. What you should then do is regard the other agent’s signs as trigger for other listings. Most particularly the other agent’s signs allow you to approach the neighbouring properties in the immediate area. There is an established prospecting fact that the owners of neighbouring properties would rather list their property with a competitive agent than the agent that is already in the area or the street selling something else.
So what you should do here is monitor the other agent’s signboards. When the other agents sign goes up, you check out the street and the neighbouring properties. You now have a reason to talk to the neighbouring properties because you can tell them about the other property that has come up for sale or lease. If the prospect you talk to has an interest in competing on the market then you are there to help them. They will have a real reason to use you.
Working the Property What Are Residential Properties Cycle
So let’s now look at the property cycle as a source of new business. The commercial real estate cycle in your area by definition is the average period of time that an investment property is retained by the existing owner. In most real estate markets this will be about 4 to 7 years. Certainly some property owners retain property longer than this, although on average most investors and business owners will be suitably placed for change or growth in about 4 to 7 years.
This says that you simply need to monitor the property purchase and sale cycle. You should be making contact with the property owners who purchased property about 3 to 4 years ago. On average these are the people who will be taking action again soon.
Whether they want to buy another property or sell the existing one at that time is hypothetical. The important thing is that they are suitably placed to take another step in the commercial real estate process. You have to be there as the expert to help them.
To work the cycle, you need to put these people into your cold calling process on a regular daily basis. It’s that simple.A�

READ  The Best Way to Invest in and Own Apartments and Commercial Investment Real Estate