fetbitler-blog

[fetbitler-blog]

Commercial Agents - Keys to Dominating Market Share and Sales Territory

As a commercial or retail property agent today, you have to dominate your local property market. The levels of enquiries and the types of enquiries coming from each and every listing need to be optimised. Any genuine enquiry should be converted clearly and effectively into the correct property.

So why is all this pressure applying today? The simple fact of the matter is that there are fewer enquiries around for every property that you take to market. The buyers of commercial property are still frustrated by the availability of finance. Any genuine enquiry you receive should be qualified and then converted as quickly as possible into the correct listing.

This also says that any overpriced listings are generally a waste of time unless the owner of the property is somewhat flexible to a price reduction down to the levels of current market activity. It should also be said that any price reduction should occur quickly at the commencement of the campaign as most enquiries only come in within the first three or four weeks of marketing commencement. After that time the property progressively becomes less interesting and attractive to the existing buyers.

So the marketing of commercial property today is more important than ever before. The experienced commercial agent has a high value in that process.

For the agent to dominate the commercial property market today, there are some rules to be followed and implemented. Here are some other main ones:

Every listed property should have a signboard placed on it. Perception of market share is highly important in your local area. The more signboards you can have in your area, the better for your agency in market perception. Signboards still generate a lot of enquiry and have real impact in your local area.

Quality marketing campaigns are the rule and not the exception today. Every exclusively listed property should be taken to the market through a comprehensive and selectively targeted process. This would normally involve the Internet, local businesses, local Property Investors, newspaper advertising, e-mail marketing, and direct contact or direct calls. This type of marketing campaign takes a serious amount of effort. On that basis, the campaign should only apply to exclusive listings over which you have full control for a reasonable amount of time.

A vendor paid marketing campaign is essential. Every exclusive listing should have some form of vendor marketing. To assist you in selling this process to the client, you can have three marketing alternatives for the client to consider. Invariably most clients choose the middle level cost and recommendation.

Keeping in contact with all the business owners locally is just so important today. Business owners and proprietors are the backbone of commercial property activity. Knowing their intentions to move, sell, buy, or rent are some critical parts of your market intelligence gathering.

Identifying, locating, and contacting the owners of quality property in the local area will always be important. This process can take time given that the ownership identity and structure for a property is sometimes conveniently hidden inside a Property Trust or a Company ownership. Nevertheless, you still need to be implementing a process of contact with all the local property owners and investors.

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[fetbitler-blog]

Commercial Agents - 5 Ways to Find More Tenants Today

In this commercial real estate market, tenants are selective about the properties they want to move into for a new lease. In most cases, tenants will view a series of locations and compare multiple rentals before making a final decision.

This means that tenants could be talking to multiple agents at the same time. You should be aware of the problem and adjust your inspection processes accordingly. Any information you get from a tenant may be fact manipulation and not really tell you the other properties you are looking at.

When it comes to processing the tenant's inquiry today, you can only have one chance to present the property and negotiate the rent. Therefore, landlords must provide a very attractive rental and leasing package at the start of negotiations.

The abundance of new or vacant locations creates a wide selection for the tenant to choose from. Therefore, competition becomes a leasing factor for premises today and both owners and commercial agents must adjust the marketing processes accordingly.

To attract more inquiries to vacant locations, some of the following strategies will help:

Always put a quality sign on the property as soon as possible. It is very likely that the successful research comes from the local area and from nearby companies. These companies know the area and it is very simple for them to relocate if they need alternative locations from which to operate their business.

Create a brochure for vacant locations and personally take it to all nearby businesses within a 500 meter radius. Talk to business owners about your existing lease and the location of the property. This process will only give you lots of opportunities and feedback for your database. Over time, this can become more successful transactions.

The list of vacant places on the Internet is quite important. Many potential tenants will surf the net to find suitable locations to inspect. Internet ad design must be simple and include a point format. The property message must be simple and eye-catching. You can use search engine keywords to optimize the exposure of the individual ad to the search engine query.

A successful leasing agent is one who knows the local area holistically. As part of that process, they will learn about the movements of all local companies and the lease expiration dates. They will also meet the owners who own the most desirable property locations. Ask questions and talk to many people who have a personal interest or position in a commercial property.

Always put your query in a database and keep the contact process moving with all qualified queries. It may take a few months to find the right facilities for some of your qualified tenants; however, the process really works when you spend time and consistency prospecting.

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