In this property market you need quality enquiry and plenty of that. Not all commercial property buyers can find the finance to purchase property today so you need to be selective with the right types of buyers that you act for or take to your listed properties. Make sure that you qualify everybody you talk to before you spend time and effort taking them to listed properties.
It can be said today that there is an abundance of commercial properties for sale in many locations. The quality of the property you have listed will generate the enquiry. This then says that your focus should be on quality listings and the marketing of them directly into the right target segments. This takes effort on the part of the salesperson.
Your system of marketing a property today is more important than ever before, and it is the key reason that property owners will use you and or your agency to help them shift the property. Market your services around your systems and database.
Gone are the days of listing a property, placing it on the Internet, and waiting for the calls to come in. Certainly you will get some enquiry in this way, but the best enquiry is generated through your constant focus on your database. Take each and every quality listing that you have and market it personally to your database and the local property owners.
To get consistent enquiry today the following process will help you:
- Most of the buyers of commercial property come from the same general location or precinct. They can be property investors or business owners. These two categories of people therefore become your focus of prospecting.
- The signage that you have placed on properties in your area will be of great assistance in helping you dominate market share. Keep track of all your signs on your listed properties, together with those of the competition agents. In this way you will know when your market share is improving. The signage in your area is seen by the business community and local property owners. Given that these segments are the predominant source of enquiry, take steps to ensure that your signage is of the highest quality and significant in numbers.
- When you get an inquiry from any source, take the time to identify where it has come from. This will allow you to focus your efforts on the most effective methods of marketing in your area. It will also help you sell the concept of vendor paid marketing as part of the listing process.
- Look for the shifts and changes in the supply and demand for commercial and retail property. The best way to do this is through regular contact with the local planning and development officers at the local council.
- Property developers come and go from the local area. The supply and demand of property will have impact on their future projects. They have a need to deal with the agents that comprehensively cover the local area and have the best database of potential buyers. This can be another focus of your marketing process.
To get consistent enquiry today you have to know the local market, the history of enquiry, the sale prices and lease results, the local business owners, and the proven property investors. From this group of people you will always find opportunity waiting to be actioned.
by John Highman