As a commercial real estate person you have to know your real estate market and all the properties and listings in it to a high degree. Sounds logical but it’s worth looking into as not many people do it well. This is the division between the large commission and the average commission; the division between the big list and the average list.
First, it’s a good idea to ask yourself what type of property you specialize in. The best people in the industry tend to focus on only one or two types of properties. That allows them to research all market trends and keep abreast of things like:
Register currently on the market
Sales or rental method
This list could go on, but we’ve given you the main issues for now and to get to the bottom of it. The information above is detailed and important whenever you talk to the owner of a property that you want to sell, rent or manage. To be the best in your area, you must provide the best property services and solutions.
Being ordinary doesn’t pile up in this market. There are many ordinary real estate agents or brokers out there. Make a clear decision now to be the best and your success will follow.
So you can say that you already know the above, and therefore you are the best! Let me ask you 10 questions to test your true knowledge.
What is the current rental rate in your area and what has been the trend over the last 2 years for this type of property?
What have incentives been in the latest rental deals and what are the best incentives owners use to attract tenants today (and give me a reason why)?
If you were going to rent a space today in a prime location and with great tenants, what rental alternatives would you discuss with the landlord and why?
How will the leases you make today for properties lead to better investment performance for owners over the next few years, and why?
What direct comparison properties in the area remain in the market for sale and which properties will compete?
What is the target market for this property and why?
How do you best market your property to tap into the right target market?
What makes your proposal to a client more significant and better than other agencies in the area?
Who are the best property developers in the area and are there any projects on the drawing board that will compete with you on this new list?
What time is it in this type of property market and how has it changed over the past 12 months?
If you are selling or renting my property today, I hope that you as a real estate agent or broker in the area have this answer for me. I want you to give me a reason to use your service and convince me that you are the best. Think about these points and start building your professionalism. The greater your value to people in the property market means you get more listings. The income equation is simple isn’t it.