Saturday, July 12, 2014

Commercial Real Estate Brokers - High Quality Listings Help Your Build Market Share

commercial real estate woman sitting at desk smiling
Quality Listings help build your real estate business.

In commercial real estate brokerage, the types of properties that you list and the quality of each property will have a lot to do with the enquiries that you create.  If your focus is to work with listings of good quality, then you will find it a lot easier to locate property investors, business owners, and property developers.

High quality listings always create greater levels of inbound enquiry.  To take that fact further, a good quality property should be converted to an exclusive listing so that you can control the marketing campaign, the enquiries, inspections, and the negotiations.  

Choose the best method of sale or lease with each quality listing so that you can apply some real momentum to the end result, be it a contract or a successfully signed lease document.  As they say, ‘it is better to start with the end in mind’.

Here are some ideas to help you focus on the best properties in your location, and how to convert them to exclusivity at the right time and in the right way:

  1. Quality: The quality of a property can be defined in many different ways depending on your location and your town or city.  The proximity of the property to end user markets, ports, transport, clients, or the business precinct will give some real momentum to inbound enquiry.  Understand where businesses like to locate today when it comes to improving enterprise and opportunity.  Some parts of your town or city will give local businesses the higher profile and exposure they require to make more sales and to serve their customer base.
  2. Improvements: The business community today can be quite demanding when it comes to the level of improvements within any property.  Regular contact within the business community will help you identify exactly what they need when it comes to successful property occupation and use.  There are ‘use differences’ when it comes to office, industrial, and retail properties.  Property design, area of occupancy, technology, property presentation, plant and machinery, services and amenities, and fitout design will all have an impact on the attractiveness of a property to the end user.  Stay ahead of the shifts and changes to technology and the occupancy requirements of property buyers and tenants today.
  3. High quality marketing campaigns: When you focus on exclusive listings, it is easy to design and work through a high quality marketing campaign that is vendor funded and brokerage driven.  Every good quality property should be the subject of a targeted marketing approach so that you are reaching the right people and the right way, and therefore optimizing the enquiry that you get.  A good quality marketing campaign supported by professional photographs and video will help create the ‘churn’ that you require to give you the greater number of inbound telephone calls and from that the potential property inspections.  So the equation here is quite clear; a high quality listing leads to exclusivity, and exclusivity leads to targeted marketing and better inspections.  You can put in the promotional effort when you know that you can control the enquiry and the client.  That is how you will achieve better results over time.
  4. Focus within a property type: There are many different property types in most towns or cities.  You should choose the property type that you can relate to and that you know is in reasonable supply.  Those two simple facts will help you with the confidence that you need when it comes to conversations with sellers, buyers, tenants, and business owners.  Stay within the property type and get to know the variations of marketing, pricing, best methods of sale or lease, and best methods of marketing.
  5. Brand yourself as the property expert: Take the time to promote yourself locally as the property expert within the location.  Write articles and editorials that you can publish online through websites, article directories, and blogs.  The Internet today is increasingly a critical component of property promotion and enquiry conversion.  Through writing a number of editorials and articles and placing them online you can expose yourself as the property expert for the location; that is assuming that you deliberately write about the location and the property type.  The search engines are always on the lookout for quality content and quality information to help service the inbound enquiries and the search criteria they seek to satisfy.  Google remains the popular search engine portal for most property enquiries today; make it a target to rank yourself highly in the Google search engine for a particular property type in your town or city.  For example your focus on a property type could be ‘industrial properties in New York’.  On a regular basis write editorials and articles about industrial properties through the New York area.  You can talk about enquiries, different property types, investment, supply and demand, and particular precincts of activity.

In using these five simple factors, you can consolidate your profile around high quality properties locally.  In that way you can improve inbound real estate enquiries and the opportunities that you will have with listings and deal conversions.