Tuesday, August 7, 2012

Commercial Realtors - Cold Canvassing on Foot Builds Better Market Share

female commercial real estate agent walking street to cold canvass
Cold canvassing on foot.

In commercial and retail real estate leasing you can and should cold canvass on foot in your farming territory.  Every business and every tenant will be a potential prospect for leasing business.  See the people, and find that opportunity that you are looking for.

At the times when the property market is tough or slow, the cold canvassing process is even more important.  Personal contact with the business owners and on site managers will glean much information about their business, and also that of the other businesses in the area.

Who Do You Know as Prospects Now?

So what businesses should you make contact with?  Just about all of them.  Here is a canvassing model that you can adopt.  It takes time to establish but the rewards are many.

  1. Get a copy of a map of all the streets that contain commercial or retail buildings (also industrial if that is your focus).
  2. Determine the best streets and locations for businesses.  This will be your primary focus for street cold canvassing.
  3. Determine the secondary streets and location for businesses.  They will be your secondary prospecting patch.
  4. You should be visiting 10 businesses per day on each working day.  Take your business cards and leave your business card in each location.  This is very important if you cannot see the proprietor of the business.
  5. Use a simple standard form to collate the information from each business that you call into.
  6. Each business will have a property need.  They may own or occupy the premises that they are in.  They may also have a future or current need for expansion, contraction, or relocation. Asking the right questions will get the facts that you require.
  7. Most business owners will not need your services today; however they will need some property assistance in the future.  On that basis the ‘drop in cold call’ should be regarded as the first part of the connection.  From that point onward you keep going back to those businesses and people that seem receptive to property information and your potential services.
  8. If you work a defined territory or property type, you can create a ‘one sheet’ marketing approach to use as you meet new people.  The single one sheet of paper can have a list of properties in the area that are available for sale or lease.  You can place on the reverse side some information regards rents and prices locally.  The golden rule with this process is that you must attach your business card to the ‘one sheet’. 

These facts and strategies are a simple but very effective marketing process for a single salesperson specialising in commercial or retail real estate.  The industry is built around people, and you must know lots of them.

If you want more free tips for commercial realtors and agents, you can get them at our website right here.