Commercial Agents – Prove Yourself and Market Yourself Better Today

In today’s property market, not enough salespeople really do prove themselves or sell themselves strongly enough. They hope that the office or boss that they work for will do that. It’s time for a reality check.

The only reason people will use you as an agent or salesperson is if you have convinced them that you and your office are relevant to them; that you really do know how to handle their property situation in the best possible way.

It is a personal thing; if you do not have enough listings or enough deals on the go right now, then you have not sold yourself enough. It’s time to take more of the right action.

So let’s look at some points of relevance that you must have:

  • A great database of up to date contact and prospects that you can quote your listings to even before you advertise the listings in the internet or local newspaper
  • A signage presence in the local area that shows the market that you are a dominant specialist commercial agency
  • Marketing systems and skills that really do reach the right markets in the best ways for the right levels of enquiry
  • A website that attracts enquiry in the local area and does so in a way that is better than the other agents
  • Search engine optimization that takes you to the top of the website rankings for your local area and property specialty
  • A social media strategy that keeps you in contact with your prospects and clients
  • The ability to prospect, inspect, negotiate, and close listings and deals in the most efficient and productive way
  • Knowledge of the local area, the properties, and the deals that have been done

Why not prove yourself to your company before you ask them to prove to you that they want you. It takes a bit of time to build a footprint of experience and relevance in this industry, however after about 12 to 24 months of hard work you can get there.

You will note that the items above are including some very individual issues and facts relating to the web and the internet. Over the last couple of years, the social media process has taken over the way in which we will be communicating in the future. It is not just the real estate office that has to be web savvy, but now also the salesperson. It is time to build your online presence as a property expert in your town or location.

Take the time to prove yourself and market yourself to the stakeholders in your life and career. Understand how to do that and start taking more daily action. The really successful people in the commercial or retail property industry are those that are known and respected by many.

Commercial Agents – Inspection Processes When Listing a Commercial Property Today

When it comes to listing a commercial property for sale or lease, you really do need to thoroughly inspect the property so the improvements and features can be correctly documented in preparation for marketing to the buyers or tenants.

There are many ways to look at a property that is to be taken to the market for sale or lease, but as the agent you are to find out all the details that impact the legal title, promotion, and improvements in the asset. Some of main things to question and explore are:

  1. The legal title for the property and the ownership structure should always be checked. Never rely solely on the representations of the client or their representatives.
  2. Identify and inspect any other properties in the local area that are of similar type and on the market at the moment. These properties can have significant impact on your marketing campaign.
  3. The leases for the tenants in the property should be sighted and read. Check all the terms and conditions in the leases to ensure that the tenants are using the property in accordance with the leases.
  4. Ask about vacancy factors and leases that are soon to expire. As part of that you can look at the leases in the tenancy mix.
  5. Any notices or orders that exist and that can have impact on the sale or lease of the premises. Ask about anything of this type that will apply to the property directly or indirectly.
  6. The boundaries of the property and any encroachments should be checked. This may involve getting copies of plans and surveys. As part of this look for any rights of way or easements that have impact on property usage.
  7. The history of the property and the tenancy mix will be of interest to buyers and tenants. Ask about the way that the property has been used over the last few years.
  8. Existing tenant profiles and leases that relate to all tenants in occupancy should be checked. This will involve looking at all lease documents and associated agreements. Do not rely on the tenancy schedule for this process as they are usually wrong or out of date.
  9. Risk related matters should be questioned to ensure that the property poses no threats to occupants, neighbours, or customers.
  10. Energy costs are of increasing concern to many tenants and buyers of property today. You will need to know just what the energy systems and consumptions are in the property and that they are in balance or better than other properties of similar type in the local area.
  11. Heritage factors can be significant in the future of the property. The heritage listed property brings with it matters of compliance, rules and regulations, and greater costs of maintenance. Some tenants and property buyers will avoid heritage listed properties, so make sure you ask the right questions.
  12. Environmental factors will always be of concern to tenants or buyers of property. Ask about anything that can have an environmental impact directly or indirectly on the property function. When it comes to industrial property, the topic of the environment is very common in lease negotiation and property usage.
  13. Outgoings within the property will have direct impact on the bottom line and most particularly the net income. Get copies of the income and expenditure budget for the property in the current financial year together with the actuals to year to date. Question anything that looks like a manipulated financial result.

When it comes to inspecting a property today, your diligence in the process will allow the property to be well listed in preparation for a productive marketing campaign. Gathering the correct detail and asking the right questions at the early stages of listing will assist you greatly in converting the listing to a successful transaction.

Commercial Agents – The Drawbacks of Commercial Property Sales Today

When you work as an agent or salesperson in commercial real estate today you would know that there are some challenges to deal with. The industry has some drawbacks. How you deal with those drawbacks will help or hinder your progress and commissions.

The main drawbacks today are:

  1. There are less property investment buyers and business owners looking to change or purchase new commercial property.
  2. Finance is harder to get for some purchasers.
  3. The time to negotiate a deal is longer than ever before and there are commonly more hurdles to jump or resolve in the transaction.
  4. There are lots of listings around and fewer buyers to work with.
  5. Time on market is longer for listings to attract enquiry and sell.
  6. Sellers want higher prices when the market is paying less money for the property

Now these are problems but they are not unresolvable. The salesperson that works hard on their contacts and database will make more new deals and create more success than the other salespeople and agents around their market. It all comes down to effort. In this time of property market change, effort is the most important tool in your skills ‘toolbox’.

You have to capture the market and pull it in towards you. It’s like fishing; if you do not ‘throw in the line with the right bait’, nothing will ‘bite’ and you will go poor very quickly.

All of these drawbacks are actually opportunities in disguise. You can take each of these facts and turn them into results by building a better database and talking to more people. It is in property markets like this that the database is the key to the future. That is why the database and its process should be an individual thing that you take ownership of.

Now it is common for many salespeople to come up with hurdles and problems as to why they do not put things in the database. Here are some of the most common:

  • No time to do it
  • My PA does that for me
  • I have it in my diary
  • I will get to that later

When you make the effort each and every day, you get the results. Commercial real estate is not an easy job and should be regarded as one of the toughest, however the rewards are great for the few that really take the right strategy and make the right moves.

If you believe you have the personal discipline to drive the opportunity around you and you take action, then you will make more listings and more commissions in any market. The property sellers and business owners that we deal with only want the very best when it comes to a salesperson and real estate agency. If you believe you are the best, then go out there and prove it. The market will come to you.