Getting Commercial Real Estate Listings Is No Easy Task
Izvor: KiWi
The demand for commercial real estate listings is increasing day by day with the development of the real estate market. The real estate market offers a wide range of properties ranging from residential to commercial. All these properties are being highly demanded by all classes of people and businessmen. But the real estate market is very vast, as it offers a wide range of properties. It is difficult for us to search for a property by moving one place to the other or by asking about it from the residents nearby. There are mainly two types of solution to this problem. These are the property websites and property dealers.
Initially, many commercial property owners think selling their property by owner will save them the commission expense. Unfortunately, selling your commercial real estate listing by owner may not get you the highest possible purchase price because you are limiting the ways in which you can market your property. Many property owners selling by owner may place a "For Sale" sign on their property and list it on a few online listing services. But had they listed it with an agent, the owner could have taken advantage of the number of other paid listing services only agents have access to as well as organizations real estate agents have memberships, giving them contacts that increase the commercial property owners possibility of a sale. When your commercial property has more exposure, it will not only sell faster but has a better chance of selling for a higher price.
Old commercial real estate listing sales and leasing activity over the last few years will give you the names and dates of transactions that will soon potentially come back on the market. That means you should use the old property sales and leasing records from your region as a base of fresh prospecting and cold calling. Most investment property will change hands every 5 to 7 years. It is a cycle that allows you to target properties that have been held for some time by the same owners. They are likely to need your help soon.
Business owners may lease or own their premises. Make the call to these people or drop in at their offices to find out what they need and want in the way of property.
Walk the streets that contain the good commercial real estate listings and the good businesses. Leave your business card and pick up the business card of all the managers or proprietors.
Ask the people you meet in the local businesses about the local properties around them and any changes that they know about. This is a great source of market intelligence. They know the market around them better than you do.
Vacant land should always be researched as to the owner and what they are doing about the property. You can put your sign on vacant land if the owner lists their property with you. The more signs you get up the better for your market image and market share.
Old commercial real estate listings that other agents have failed to sell or lease should be monitored in case the listing can be reactivated. As part of this keep a tally on the time on market for the listings. This will tell you when the market is changing with certain listing types.
Make cold calls on developers, solicitors, accountants, and architects. They all have an interest in commercial property and will have clients that need help from time to time.
Rent rolls and other property managements held by other agents are prime targets for new business. By their very nature, the owners of these commercial real estate listings are investors, and many investors own more than one property.
You and your daily activities are at the center of this prospecting process. Prospecting is hard for some people given that the level of self-discipline required is high. Many salespeople will find something else to do that is easier. Any excuse will do to avoid prospecting. Many salespeople will take the easy prospecting process of dropping flyers and sending generic mail to hundreds of local businesses where they do not follow up. Does this really work? Yes but only to a minor degree and the road to success is slow.
