Essential Listing Skills in This Real Estate Market

Commercial Real Estate Market

In this changing market you need to be driving your own business opportunities in commercial real estate sales and leasing. Listings have to be carefully considered before you embark on a promotional campaign.

The commercial real estate market is always changing and adjusting. In many circumstances and at the moment this will continue for at least 12 months with the reworking and disposal of distressed properties. All this says solid opportunity exists for the agents that work closely with mortgagees and financiers, together with solicitors and accountants. There are buyers out there who will take up a bargain property at the right price; the prices just need to come down so that you can leverage a deal. Fewer buyers will be interested in the single property so selective negotiation is the common rule. This is where the skills of the competent and confident real estate agent come to the fore.

So what about some of the key skills that are essential for commercial real estate sales and leasing success this and next year?

1. You must make potential sales and leases quicker... and implicitly determine when sales are evaporating more quickly. In any market there will always be some investment property market segments or property types that are more active and buoyant; you just need to figure out what they are and work on them.
2. Set real client service and awareness rules - If one works with businesses and 'corporates', the 'top down' approach is best at all times so that you can get to the decision quicker.
3. Be flexible to negotiate all dealings -  Remember, a sale or lease negotiation is a game of margin, not always just the property. Negotiating a deal close today is as much a factor of focus on the seller as it is for the buyer.
4. One must learn to render service to your current clients- so keep your relationships good, positive, and profitable. All clients are worth tapping for the opportunity that sits waiting. Off market and confidential deals are more common now as property owners selectively fix their property frustrations.
5. Learn how to do more with less and make it appear that you are not doing it with less. What is this? Again, work harder, work longer. Create a real market presence in the quickest and most efficient way without throwing excessive money at the media. Remember that the 'personal' touch is the best, and certainly now.
6. Avoid the "pitfalls of price." Don't make or turn an explanation on 'price' or 'commission' into an excuse. While sellers and buyers will always use 'price' as a problem factor in the negotiation, the reality is that it is not just the price, something else is holding them back. Get to the real reasons for their frustration in the deal.
7. Support sellers buyers and tenants make small decisions and link them to help them make bigger ones. A progression of smaller agreements will help move people towards the final sale or lease agreement.
8. Encourage to do smaller deals. Piecemeal your business if you need to. Smaller properties and smaller lease deals are the go at the moment, given that banks and lending institutions are not putting large finance packages on the table.
9. Provide value-added components. This can be incentives such as entertainment media tickets, and even weekend trips given to the parties to the closed deal. Everyone likes a bonus facility that they can use with their family. Just make sure it is all above board and not 'illegal'.
10. There will be more "on the come" business. Be willing to do that if you know you can perform and want the listing. In doing so bring your confidence to the process and give real value; do not however drop your prices, commissions, or services. Be the property professional of choice at a fair and reasonable price or commission.

Some promoters are doing very well in this market as they are finding the distressed properties and moving them to those prospective investors that are seeking a bargain. All of this is being done without great publicity and media but with confidential and professional assistance.