Growing and Adapting Your Commercial Real Estate Agent Relationships
There is no point in contacting the same prospect or client with the same information and strategy each time you call. Fresh market information and ideas will help the client relationship grow. So what type of information can you provide that will help the client connect with you?
Try some of these:
- Time on market factors impacting the different property types
- The levels of enquiry coming in currently through the local region
- Price trends with properties on the market and those that have been sold
- Rent strategies and results from recent leases
- Yields and cap rates applying to prices and rents
- Best marketing strategies that are getting better enquiries locally
In an ideal world you should be ‘on top’ of these facts as part of your daily market activity in commercial real estate. It is simply a matter of having the information available in a form that you can provide to the clients and prospects that you work with.
Here are some ways to distribute the information to the people that are in your database and that you regard as targets for more new business:
- Start a blog in your own name and featuring the local area and property type that you specialise in. Every week you can write a short article or two about current market activity and trends. Given this you can link your blog article in your emails and newsletters that you send out.
- Your database should be constructed and contained in a system where you can broadcast many emails and newsletters. It is best to send out a newsletter via email at least once a fortnight.
- The previous two points are ‘electronic’ and internet related. You will still need some more ‘traditional’ approaches to getting information to your clients and prospects. Direct mail once a month will be useful. Enclose a ‘hard copy’ of your newsletter in the mailing process. Always enclose your business card in every direct letter sent.
- Create what I call a ‘one sheet’. It is essentially a single sheet of paper printed on one or two sides. It is a mini version of your newsletter and provides an update. You can conveniently copy the number of ‘one sheets’ that you need as the weeks progress. Black and white copy is fine for the process but always attach your business card to the sheet. Use the ‘one sheet’ in meeting new people or prospects, or in door knocking local businesses. Use the sheet as a ‘leave behind’ marketing tool. It is simple and yet highly effective process in getting the attention of the prospect.
Be sensitive to the growing and changing relationships with all of your prospects and contacts. Your marketing material can be adjusted to their ever changing property needs.