Sunday, November 13, 2011

Commercial Agents - Finding Commercial Property Listings and Selling them Faster

Today we have a different property market. In many locations the sellers are finding it hard to move their properties, and agents are finding it just as hard to make the sale. So why is this?

It all comes down to the availability of money and the loan value ratio required by the banks and lending institutions. Some would say that inflated prices asked by some sellers may also be an issue, and that would be somewhat correct, but the main source of the tighter property market is the availability of funds.

The banks are not lending as freely on commercial given that they know that prices have fallen and some of the business tenants that underpin property occupancy are also under pressure.

Things will normally get back on track, although every real estate agent and salesperson has to adjust their current marketing and prospecting efforts so they can attract better listing and commission results.

Here are some tips to handling a slower and tougher property market like that which we have today:
  • Comprehensively and systematically contact all property owners in your territory
  • Get in touch with all business owners and tenants in the local area
  • Monitor the changes to property zoning and new developments
  • Prospect for new business for at least 3 hours every day
  • Learn to love your database and make it the backbone of your daily calls, meetings, and emails.
  • Door knock the streets in your commercial and retail property areas to meet with the tenants and property owners
  • Follow up everyone on a 90 day cycle so they remember you at the right time in the future. 
When you follow the patterns like those above, you will find new business opportunities. In any market there are property owners and tenants that need a hand with a property challenge. Be there for them.

You can get more tips for commercial and retail property agents at