Residential and Commercial Real Estate

In this continuing article we give the remaining keys to performance success in Commercial Real Estate Sales and Leasing.

1. Marketing – The marketing of a property for sale or lease today is not just a list and pitch process. Every property should be promoted and marketed to the best target market that it suits; that is how to get the best price and rent and that is why property owners and landlords use our services of real estate agency. As the salesperson that has listed the property, it is up to you to define that target market and how you are going to reach it. That will be a statement of the ideal target market and a solution as to the marketing campaign that will tap into it. Marketing will be a mix of strategies including signboard, internet, and advertising in newspapers, database, email, direct calls, and brochure or flyer distribution.
2. Negotiating – You can always learn more about negotiating (it’s a bit like prospecting as you can never do too much of it). The more real situations you have to handle, the better your negotiation skills will become. Confidence and knowledge are the keys to controlling and directing property sales or lease negotiations. Add to that some superb communication skills and you have a solid foundation to take to the market and the people that come your way. It should also be said that property negotiation in real estate will be strengthened in your business team if you role play and practice with your work colleagues.
3. Follow-through – A property sale or lease transaction is not fully done when the lease or the contract is signed. In most cases there are many other side issues, events, conditions, and provisions that need to be satisfied. If solicitors or other advisors are acting for the client then expect debate, challenges, and issues to arise. Importantly as the salesperson who did the deal, you should be there making sure that forward momentum is maintained for your client at all times. They pay your commission remember! Keep the client up to date on all events even after the contract or lease is created. Keep communicating and moving towards the settlement of the contract or the occupation of the tenancy (as the case may be). Document all discussions and events in case challenges or problems arise (and that is not unusual).

So there you have the keys to success as a real estate agent. If you do them well you will capture more enquiry and convert more successful deals, be they sales or leases. The property market will be your oyster.

» Read more: Real Estate Agents – Performance Tips to Impress Your Clients and Enhance Your Career – Part 2