When you work in commercial real estate sales and leasing, the opportunity to generate new listings and close potential deals always exists. It simply comes down to how you connect with the people around you. It can be said that we do not ask enough questions at the right time; top achievers do ask questions, they go that one extra step. Asking questions is a mindset that should be developed by each and every salesperson in commercial real estate.
We overlook the simplicity of the commercial real estate business; the more people you talk to every day, the better your business will be. It’s that simple. There are plenty of people to talk to when you really think about it. Try this list in your local area: glenn delve
- The tenants in a property
- The local businesses in a particular area
- The newsagent at the corner shop that delivers to businesses
- The Mobile Coffee Cart that visits the worksites
- The local lunch shop where business people go for lunch supplies
They all know more about the local area and streets than you do. They will hear about something before you do. They will hear about business activity and churn before you do. Getting to know them is a very worthwhile process to give you just that bit more market intelligence.
Recently I was part of the discussion regards generating new property management listings for a commercial real estate agency business. The business development person was saying that it is just so hard to find out who owns the properties so that the direct marketing approach can occur.
In the normal processes of property research and prospecting I acknowledge that such is the case, because many property owners hide behind company structures. That being said when you really think about it, there is always a better way to do things and find out just who owns the property.
So this is what I did; I told the property development person to simplify the contact process. I told them to ask the tenants in the property about just who manages or owns the property now. So when they did that, the process was simplified and the landlord was identified. The tenant also told the business development person just how unhappy they were with the current property management services in the property.
The real estate business is quite simple when you ask questions. Be willing to ask the right questions with the tenants in any commercial or retail property. They will tell you so much about the local area, the other tenants, the managing agent, and the landlord. It is really that easy.