In commercial real estate today, every service that you offer should have specific value related strategies. It doesn’t really matter whether you sell, lease, or manage commercial real estate, but it does matter that you understand the valuable outcomes that you provide to the clients that you serve.
Every person in your agency should understand the values that are provided by your agency and business. In this way every sales pitch and presentation can be improved and optimized. Consistency in your message is really important.
To win a listing in today’s property market, your services are to be of the highest value and of great relevance to the client. The generic approach in commercial real estate will give you poor results. There is no point in being like every other agent.
Why are you the best agent in the local area? It’s an interesting question. When you know the answer, it will be very easy for you to pitch and sell your services in sales, leasing, or property management. Top agents know how to do this and you should also understand the process.
When you look at the differences in service that can be provided, you can see specific values that are real and relevant to the clients that you act for today. Here are some cases in point.
Commercial Real Estate Sales
- The ability to tap into some comprehensive database that is real and up to date. That database will help you minimise time on market and create property inspections conveniently and effectively.
- The right methods of sale to attract the appropriate enquiry in today’s market. The method of sale should be relevant to the property type and the levels of current property enquiry. The ways in which you take a property to the market will send a message to the local property investors and business owners.
- The marketing systems that can help spread the message into the target audience for the particular property. Those marketing systems should be specific and not generic. They should reach the target audience effectively and comprehensively over a well-directed marketing campaign.
Commercial Real Estate Leasing
- A comprehensive list of all the business owners and business proprietors through the local area. That list could be updated continually to ensure that you know when those businesses need to expand, contract, or relocate into other premises.
- Tenant advocacy services that can help tenants to find the right properties in the right location. Tenant advocacy is quite a specialised service and it requires the services of a highly experienced leasing professional. They understand the lease strategies, rental types, and occupancy costs. They know how to put good leases together and can serve their tenants well. That being said, the tenant in such situation is the client.
Commercial Real Estate Property Management
- Commercial property management is quite a specific service and should not be undertaken in your agency unless you have the right people. A good property management service will include income control, expenditure management, risk management, property compliance, maintenance strategies, lease documentation, and tenancy mix management. Make sure that you have at least one highly experienced commercial property manager on your team that knows what to do and how to do it. They can then train other more junior people that come through the ranks.
- Retail property management is distinctly different than commercial property management and to a large degree is more intense. In retail property and with shopping centres, you will find that the intensity of management service is higher and therefore the fees are higher. You need the right people that have experience in managing shopping centres with large numbers of tenants. The fact of the matter is that a good retail property manager will help build your business due to the experience and relevance they apply to the properties that they manage.
So these are some points of difference that can be built on. Specialisation in the industry will always give you leverage. Make sure that your people provide the specialisation that your clients need and then send that message out into the market at every opportunity.