Thursday, May 31, 2012

Commercial Realtors - Tips for Sending Prospecting Letters

In commercial real estate agency sales and leasing, the process of sending prospecting letters will build your market share faster if you follow up all the letters sent to prospects.  Not enough agents do this.  Follow us on our Newsletter.

Today, it is remarkable how many agents and salespeople will send letters about listings and market place issues, and then not follow them up.  Not only is it a waste of money but also a waste of everyone’s time in letter creation and dispatch.

Be Effective

The traditional prospecting letter is today more effective than ever before given that many salespeople send emails.  Most emails are deleted by 9 am in the morning; we even do that ourselves when it comes to turning the computer on first thing in the morning.

Every bit of prospecting that we do today must be relevant and remembered by the person that we send it to.  It has to stand out as something of importance.  That is how you market yourself.  That is why letters work in commercial real estate agency.

So to reach the people that matter to you, send a prospecting letter and then book in a return phone call to the person a few days later.  They will remember your letter and will at least have read part of it.  A conversation when you call will then be much more effective and possible.

A letter shows much more respect than an email.  In the letter, ensure that you introduce the fact that you will be making a call to the person named.  Tell them the reason for your follow up telephone call.

Who are the People?

So who do you send these letters to and why?  Here are some ideas from our Newsletter:
  1. Send success letters to property owners and businesses near your listings when you have made a sale or a lease.
  2. Send prospecting letters to the owners of vacant commercial land so you can see if any development is possible.
  3. When you put a signboard on a property, send letters to all nearby businesses and property owners to see if they want information about the property listed.
  4. When other agents put signboards on properties for sale or lease, you can send letters to the owners and businesses nearby to see if they want to compete with the listing near to them.
  5. When a person or business has been unsuccessful in making an offer on a particular property for sale or lease, send a letter to them to continue the relationship and extend the discussion on other properties in the area.
  6. When a property listed with another agent has been taken off the market, send a letter to the property owner to see if they would like alternative marketing assistance with your agency.
  7. When a property has been put on the market for sale or lease with another agency, send a letter to the property owner congratulating them for listing their property and wishing them well in the marketing campaign.  Offer your name and telephone number if they would like to talk about the property market place in the future.

So the letter process works well and can be incorporated into your business model as the local property agent of choice.  Build your personal brand at every opportunity in your market place.

Check out our website for more free tips for commercial agents.