When it comes to selling a commercial or retail property today, the agent has to be decisive and direct. There are plenty of listings to compete with, so any new property coming into the market has to be driven directly with the right marketing effort. Take firm action; that's the rule for agents to follow.
When a listing comes onto the market it has a primary period of promotion that extends for about 5 weeks. After that time the enquiries will slow and any prospective buyers will have started looking at other properties. Every marketing campaign should be directed to the target market for that 5 week period by the agent. To do this an exclusive agency is required.
In this property market, it pays to develop some firm ideas and processes when it comes to working with properties and clients. Set the rules that work for you given the prevailing market conditions, your available resources, and the competing properties that are around.
Here are some rules to help you with taking action in today's property market as an agent:
Understand what the property buyers are looking for. There will be particular property types, price ranges, and locational factors that are attractive to the property buyers today. Your Lentor Hills Residences Price model should focus into those three things.
Given that there are plenty of listings for sale on the market currently, a quality property that is exclusively listed will need to be directly marketed to the target audience. This means personal effort on the part of the agent. Every listing should be taken personally to the local area, the businesses, and the property investors. In doing this, you can pick up on a lot of leads and opportunities from the local property identities.
Quality listings produce better enquiries. For this reason you should be focusing your prospecting efforts into the owners of quality properties and the properties in quality locations. When you find a listing to work on, make sure that you have it exclusively listed on your books for a reasonable length of time.
If you believe the market is not producing enough listings or income for you personally, take a look at your prospecting model. Are you spending at least 3 hours a day prospecting? If that is not the case, it can be a significant weakness in your business model. It will need to be addressed.