Prospecting For Commercial Real Estate Listings

When you prospect in commercial real estate sales or leasing situations, you will meet with and will talk to many people on a daily basis. The more people you do this with the better. Prospecting is critical to your business growth and listing processes in any market.

It is interesting to consider what prospecting situation you find yourself most often in. The answer is different for everyone as each person has communication preferences and methods of approach that works for them over other standard approaches. It is therefore most important to prospect in the way that suits your character and business style.

Your daily prospecting method should be the thing that works for you and gives you the best results and could be any or all of:

  • Telephone
  • Door to door
  • Networking events
  • Referrals
  • Face to face contact

In all respects the prospecting and meeting process will be enhanced if you refine it and use a small number of statements that gain the attention of the prospect. We call these statements ‘Prospect Value Statements’ (PVS) and they must relate to you and your commercial or investment real estate market.

Prospect Value Statements

The ‘Prospect Value Statement’ is one of a kind and should match you, your business, and your focus. It should clearly declare and communicate the fundamental reason why your organisation exists and why you’re selling or leasing commercial investment property from the prospects perspective. It is the most important thing that you can learn and use in commercial real estate. That being said, it is amazing how many salespeople in commercial real estate do not master the concept and some never even know about it. The PVS is such an important statement to your conversion process that we will spend time now on it in helping you design your own.

So why is the PVS so important? It succinctly, clearly, and precisely defines what you do and how you do it in commercial real estate. Better still, it does so in a way that your clients and prospects can see and know why they should do business with you. The PVS will tell them that you are better than the competition agents in the market.

The PVS plays a role in just about every business opportunity and prospecting situation that you come across.

Sample of a Commercial PVS

‘We assist our commercial investor clients in the industrial market at Salisbury to find new tenants that match their investment plan or cash flow expectations, and therefore enjoy a more stable occupancy. We do this by canvassing all tenant changes in the region for the coming 3 years and directing deals to the desirable tenants at the right time for our clients.’

Sample Structure of a PVS

‘We assist our commercial clients (companies, tenants, or investors) in the … industry (or business, or market segment, or location) to … and enjoy … We do this by …’

To make this work, it’s important for you to know and really understand what end result benefit you actually deliver to your commercial real estate prospects, customers and clients (be they landlords, tenants or investors). You also need to know exactly what benefit your prospects or clients actually want to gain, enjoy, achieve, or have in this market. Your PVS is matched to the end user of your services at all times.

‘Your PVS will also change over time as it will have relevance to the current market conditions and the pressures that your prospects need resolved.’

So What Results and Benefits do Prospects Need?

Before you start to create a PVS or a series of them for you and your business, let’s define some of the results and benefits that are typical desired outcomes for a client or prospect in a commercial real estate sale or lease situation. Consider your market. What are the priorities of the prospects that you deal with today?

Commercial Real Estate Lease situations:

  • Stable tenant
  • Good rent
  • Long lease
  • Major tenants
  • Quality tenants
  • Ability to refurbish
  • Make good obligations
  • Growth of rent
  • Stability of rent
  • Sound lease document
  • Resolving vacancies faster

Commercial Real Estate Sales situations:

  • Quick sale
  • Higher price
  • Confidential sale
  • Method of sale
  • Faster settlement
  • Good enquiry
  • Good promotion and marketing
  • Comprehensive market coverage
  • Sale to investors
  • Sale to owner occupiers

Given these benefits and your market trends now in your location, you should be able to easily construct a series of PVS models that suit the prospects that you deal with. Ideally you should be able to quickly call on 2 or 3 of these statements in any prospecting conversation to match the needs or interest of the prospect you are talking to.

Techniques to Market Your Real Estate Listings

If you’re having trouble attracting buyers to your listings, you’re not alone. Many agents have trouble catching the interest of buyers, especially on the internet. We’ll be discussing 3 tools that can be used to market your listings like never before.

Mailing Lists
Building a list of potential buyers in your market can be invaluable to your sales efforts. Lists can be online or offline, but both use the same tactics. Online lists are easier and cheaper to build, but offline mailing lists have a more personal touch. The best way to market your list is to send your subscribers valuable information on a regular basis, maybe a newspaper clipping of a story in your local market. This helps build trust and rapport with your audience. It’s also okay to send your list info on your most recent successes, as this will build credibility in your reputation to sell homes.

When it comes to marketing your listings, however, newsletters can be even more valuable; remember, your list is comprised of dozens (maybe hundreds) of local residents that could be interested in buying a home, what a perfect audience to market your listings to! As soon as you secure the listing, send your entire list a brochure or link to a virtual tour of the home.

Blogs
The value of using a blog in the real estate industry cannot be overstated. By setting up a blog through WordPress or ActiveRain, and consistently discussing your local market, you’ll begin to build a strong reader base in your local area. Then, as you gain listings, a quick blog post on your new home for sale will have hundreds, maybe thousands, of interested eyeballs specifically from your local market. This is a great way to sell your listings faster and even find more clients who may want to sell their homes as well.

Also, blogs can work great to help build mailing lists. Many blog owners have a form where users can sign up for their mailing list right from their blog – a great way to cross promote online strategies.

Virtual Tours
Finally, surveys have shown that 83% of home shoppers look to the internet before anywhere else. As an agent, this is something that cannot be overlooked. Buyers have also shown that they are more likely to pay attention to homes with a great online presentation and extra pictures than one with minimal photos and information.

Using virtual tours in this market is simply not an option; with competition rising, homes sitting on the market longer and listings coming fewer and farther between – having a strong online presentation for your listings is imperative. Once you have a strong online presence, however, it’s important to ensure that your tours are getting noticed. To do this, make sure you link your tour from your blog, your mailing list, all real estate listing sites (Realtor.com, Trulia and others) and promote through social media (Facebook, Twitter, etc.).

By building a strong mailing list, setting up a blog, and using effective virtual tour software, you’ll be ahead of the game and ready to get your clients’ homes sold faster and easier than ever before.

Searching Wisconsin MLS Real Estate Listings

When searching Wisconsin MLS real estate listings, a worthwhile step to take before you start your search is to look at your options for choosing how you will pay for a property. If you are not able to pay with cash (and do not have wealthy relatives to help with the costs), you will most likely need to take out a mortgage to purchase your desired residence. In this instance you can decide on either a predetermined or changeable annual percentage rate. A stable prime rate loan is funding where the interest price stays the same throughout the duration of the funding. This can be beneficial for first-time buyers as it allows them a certain level of security in knowing how much they will be paying on a regular basis.

In contrast, an adaptable prime interest rate loan is backing in which the rate of interest is stable in the beginning and then decreases or increases depending upon the market rate of a mixture of variables concluded by economic features. At the commencement, the adjustable value may be lower than the fixed rate, but it frequently alters after a length of time which could result in greater monthly payments. This is when it can be crucial to do some research into which mortgage is right you by using mortgage calculators, a variety of which can be found online.

In a Wisconsin economy that is suffering from inflation, a flexible interest rate loan could cause your mortgage payments to increase quite significantly, which could in turn lead to difficulties in keeping up with your repayments. At this point repossession becomes a potential option, as banks or other lending institutes will put properties up for sale or take rights of them as means of recouping the mortgage on respective properties when loans are defaulted.

Until recently, as seen by what many are calling the sub-prime crisis in the property market, the popularity of property ownership in Wisconsin and many states created the general consensus that as a business it was a considerably gainful endeavor. Yet, whilst many looked to the business aspect of the general increase in the value of property, many homeowners saw this as an opportunity to take out further loans based upon the predicted increase in the value of the residence. However, the rapid downturn in the economy has now led to many homes being repossessed as many find themselves unable to manage their financial situations.

This is a sorry situation, but one which sends a message of caution to prospective and current homeowners to be more prudent in their monetary behavior. An important thing to remember is that a mortgage is the largest debt that many of us will have in our lifetimes, one which will span many years. As such, whilst it may seem the less favorable route, rather than spending away any potential value in your properties by taking out further home-owner loans in the pursuit of fulfilling desires – think twice. All loans are just that – borrowed money – but with careful management money which can be of benefit to your long term property goals.

Real Estate Listings – Bring Attention to the Homes You Are Selling

Real estate listings are essential to make known to the public about the latest properties that are for sale in a particular area. It is in the internet where you can find the largest market to sell your properties as most home buyers and investors these days search online for some possible properties to invest their money into.

To prepare your listings, you must list down first the basics of the property that includes the price, location and size for each property that you are going to list. You must not also forget to list the distinctive features of the home so buyers and investors would be entice to find out more information about your property. Describe it in a way that will make your property unique. Through this you are making your every listing attractive and pleasing to the eyes of home buyers and investors. There are listing services that allow you to use pictures in your listings. If they are allowing it, make sure you include some.

In addition to that, you can post as well video tours to showcase your homes. You can post video tours on the listings website if they are allowing them or you can do so on a separate web page and just mention the website address in your listing. This will help you generate much more interest from people than just a text only listing.

Creating an e-mail list is another great way. You can ask others if they would like to sign up for your mailing list so you can be able to send them the latest listings straight on to their inboxes. But before you do so, be sure you ask them first and don’t just send it to anyone you like.

The real estate market of today is a competitive one so you should offer to people more than just listings. Aside from the many listing services that you can find online, you can also make use of the different social media like Facebook, YouTube Twitter etc. to spread the word. Establish yourself as an expert, answer questions and offer free advice. Surely people will be more than willing to find out more about your listings.

More Than Just Real Estate Listings

A real estate agent needs to do more than just place and follow property listings. The real estate market is a competitive one. Thanks to the recent boom in house prices in Toronto and most of Southern Ontario, there is more competition to sell and rent homes than ever before.

As a property agent how do you stand out from the crowd? As a potential home buyer, how do you choose the right real estate agent?

For agents, the answer is quite simple, but the process is quite involved. Simply put, property agents need to offer more than just listings. Thanks to MLS an other real estate listings websites, anyone with Internet access can now go online and find detailed real estate listings for any area they’re interested in. In order to succeed as an agent, you need to stand out.

But how?

An excellent way to do so is to offer additional services to your clients. Rather than just providing listings and details about the property, you can help your clients by assisting them with related services. For example, if someone is buying a new home, they will likely need financing. If you’re able to form strong business relationships with mortgage brokers and other financial institutions you’ll be able to help your clients secure financing.

Many clients will also be interested in getting home inspections completed on their new properties. Knowing a good home inspector and helping your clients through the home inspection process will make you stand out from the pack and give you much higher customer satisfaction! The same can be said for home renovations: being able to refer your clients to skilled contractors will make the process that much easier for everyone involved!

Rather than just offer clients real estate listings and help them through the offer process, think of related services that you can assist with as well. Building strong business relationships with complementary business won’t just help your clients, but it will also help increase the number of referrals coming your way!

For home buyers, the search for a property agent and then the search for the right property can be a difficult – and sometimes overwhelming – task. If you’re looking to buy a home, you’ve probably spent countless hours analyzing real estate listings, hoping to spot the right place!

However, for most people, finding the property isn’t the last step! As mentioned earlier, you’ll also need to focus on financing, inspections, renovations and more! Having an agent that can help you through these tasks is a definite benefit!

Whether you’re buying a home or an agent listing a home, you know that real estate listings are just the first step in the process. A smooth transition from examining real estate listings to actually buying and renovating a property is paramount!