When it comes to moving on a listing opportunity in commercial real estate sales and leasing, doing your homework first and foremost as a real estate agent is a critical part of the inspection and listing presentation. Demonstration of local property knowledge and activity are part of the interaction with the client.
Every listing opportunity should be thoroughly reviewed before a price or rent is offered to the property owner as a benchmark or guideline. The commercial property market today and is changing significantly month by month. That will be changes in the following categories:
- The types of properties that buyers and tenants are looking for in the current property market
- The types of improvements that are expected in the properties to be purchased or leased
- The ideal location for those sale and leasing property decisions in this economy
- The marketing methods adopted by other owners and agents in the local area with other property campaigns that are active
- Changes in the local demographics, transport corridors, and business sentiment will have impact on the marketing strategy you should adopt
- The achieved prices and rentals of recent time in the local area will be relevant to every listing presentation.
- The location of comparable properties in the local area will create a competition affect with any new property coming on market
So all of these factors will require investigation on the part of the salesperson, and that should be done prior to the listing presentation. It should also be said that the comprehensive inspection of the subject property should have occurred so that you understand exactly the types of improvements and locational factors that affect the potential listing. It is easy to pitch your listing strategy when you really know about and talk to the property. The property owner is focused on what you know and say about their property (not how good you think your agency is).
When you do your homework in this way, it allows you to offer specific solutions and relevant comment to the client regards their property pain and challenge. Generic comments in the listing presentation are a waste of time.
Taking a walk around the local area and checking out all comparable properties, neighboring properties, and unsold or unranted listings will be part of that market intelligence process. The facts that you gather and display about the local region or area will always assist you to close on the listing.