How to Get More Commercial Property Listings
In commercial real estate agency today, you need more property listings to attract the same levels of enquiry that you may have had a few years ago. That being said, the property listings that you attract should also be of high quality and matched to the target markets that you serve.When you focus on quality listings, the enquiry that comes to you is more substantial in both volume and relevance. Quality enquiry allows you to create more inspections, and close on negotiations.It is an established fact that quality listings can also help you with attracting other clients to your agency. They want to be part of your successful business profile and market share. Top agents know this and use it to great success.Here are some tips to help you with attracting more property listings to your agency:Split your agency territory up into zones. In the first instance, the zones that you create should be within freeways and highway boundaries. The zones should also create a definite space for your agency team to prospect and work within individually. Each of the zones should contain sufficient levels of property ownership and opportunity for each of the agents to work successfully and comprehensively. They can then prospect through the zones in a systemized and consistent way. Doing this on a street by street and owner by owner basis is the way to go.
Some of your agents will need to be specialized as to the property type that they serve. That can be office, industrial, or retail property. Property specialists sometimes cross over the established zones or boundaries given that the property type is quite specific. Retail is a good example of this. The larger shopping centers will be sporadically located through the region; if you are going to work this market segment, you will need specialized agents for that purpose. The individual agents that specialize in a property type will prospect through that greater region specifically at the property type. This can create some friction with other agents within the zones however special properties require special people. You will need to balance the relationship between general agents and specialized agents.
Every agent should be running a prospecting system as part of their daily diary activities. That prospecting model should take approximately 3 hours per day in addition to the other activities that the agent must control. An agent that doesn’t regularly prospect is a loss to the business and will eventually lose market share.
Every listing that you bring into your agency is a good opportunity to talk to other people. This then becomes a process of direct marketing that can be done personally by each salesperson. Take each listing into the local area and talk to the local business owners, property investors, and property professionals. Whilst it sounds so simple, most agents don’t do this very well at all. They would rather take the easy way out and simply advertise the property.
Every successful commercial property transaction is an opportunity for referral business. Get closer to your clients and ask them for the leads and the opportunities to talk to people that they know. Good successful transactions are an opportunity for referral business.Attracting more listings to your agency is simply a process that is well managed and activated. It comes down to the activities of each particular agent and salesperson within your business. The best agents know that prospecting and database management are critical factors to their growth of listings and commissions.