|Market yourself to build market share|
In commercial real estate agency today, the competition is fierce and relentless when it comes to others chasing your listings or pitching against your opportunities. That is why is important to find a client or prospective client before the other agents do. In that way you can avoid the competitive pitch and presentation process.
There are three very distinctive objectives in the marketing process for you personally as you develop your market share and territory dominance. Ask yourself these three key questions:
- Do the key people and players in the market understand that you are out there and available to help them?
- Do your prospects understand the unique values and skills that you bring to the commercial property process?
- Are you regarded as the best local expert in your field and property type?
When you specialize as an agent, you become more relevant to the local business owners and property investors. Here are some specific strategies to help you consolidate these three marketing factors above:
- Get quality signs on as many listings as possible in your territory. Your name should feature on all your property listing signs. Further to this strategy, ensure that you get sold and leased stickers on all signboards as soon as possible when a transaction has been confirmed.
- When a specific property is listed for sale or for lease, use it as an opportunity to talk to other property owners in the area and other business owners nearby. This contact process should be on a personal basis and preferably face to face. Getting your brand before others is all part of the strategy.
- When you sell or lease a property locally, get success letters dispatched into the local business community. The success letters are highly effective and perhaps more so than emails. Your name and needs to be connected to the successfully sold or leased property. Be known as the catalyst for the deal.
- When other agents list properties locally, use their signboards as an excuse to talk to neighboring property owners and business proprietors. There may be an opportunity of competition and another listing in the immediate area.
- A database is a well-known business tool for commercial agents. It is interesting to note that many agents and salespeople struggle with maintaining a database. The database that you create should be accurate and up to date at all times. As to how you do that is really a matter of your personal processes and business activities. Top agents have great databases.
Develop a specialty in both property type and location. Your choice here will help you refine your offering to clients and prospects. Check out your competitors to identify who may be offering similar specialized services. Review their relevance and experience in their chosen field. You will need to be more relevant in every way.
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