In most of today’s commercial real estate markets, many properties remain vacant or unsold. Buyers and renters in the real estate market have a lot to choose from.
When the housing market slows down or gets tougher, the rest of the research is more important. PSM property solutions work to optimize the request and execute it. Your database will be more important today and for years to come than anything else in your agency’s processes.
Here are some tips to help you increase your market share in this tougher real estate market.
- Track all ads in the area for opportunities. Some listings will be poorly sold by other agents, giving you the opportunity to contact a client when the property becomes available.
- Some owners are trying to sell or rent their property. In most cases, they are unsuccessful. That said, they are also some of the most difficult clients to work with, given their generally overstated perceptions of property or rental prices. Take the time to work with these clients if they are not prepared for price cuts and realistic marketing solutions.
- Keep track of your competitors’ actions and all the lists they have on their books. The market will be influenced by time factors and trends that must be followed to monitor preferred sales or rental methods. Many agents are quite common when it comes to strategic ownership decisions. Today we are strategists who solve the client’s real estate problems, and this is how we must promote ourselves.
- Look for exclusive listings at every opportunity so you can monitor your promotions. No client should be trusted who wants to openly list their property for sale to multiple agents. They will receive so many different stories and marketing decisions from other agents that it will be difficult to turn them into a sale or a lease.
- Having a sign will always help your market share. Each advertisement must be accompanied by a poster of adequate size and detail. Your name and mobile phone number should be on this poster. The best agents put their name on as many signs as possible.
- Build your brand online at every opportunity. There are certain process strategies that can take you well beyond the usual advertising and placement on websites. If you think you are a commercial real estate professional in your area, define your specialty and start blogging in your specialty. The blogging process will help you build your brand that is superior to your competitors’ brand.
- When one of your competitors places a sign on real estate, promote it to neighboring homeowners and businesses. A competitor’s signage will give you momentum and impetus to search for other advertisements on the same street.
To win a good share in the commercial and retail real estate market, you need both system and focus. The points above will help you with this.