Lowry Molina posted an update 4 months ago
In commercial real estate brokerage you may need top quality market information to make the right recommendations for your customers and prospects. In which you wardrobe information from as well as accuracy will be very important. Can you trust your sources? Do you know the details are accurate and never based on ‘hearsay’?
In an average year in property investment, the following factors will change quite a few times:
The degrees of inbound enquiry for property purchasing
Tenant enquiries for brand spanking new premises
Rent and cost ranges
The production and need for local quality property
Negotiation factors in almost any contract or lease
Government policies impacting property
Local market conditions
Activities and sentiment in the local business community
Transport and various local demographic issues
Time on market
Seasonal selling cycles
A great agent or broker has got to remain on the surface of these issues. To accomplish this you should capture and share the correct market information with key people. Quality information from your market will help you win better listings available for sale or for lease.
So let’s examine where you can get accurate market knowledge and details that you can use. Try many of these ideas:
I’d personally start with the local planning office. Just about every sale or lease is going to be impacted by shifts in property planning activity, new projects, and future method of getting quality property. Every month visit the planning office to find out what properties are considered for change or new development. They’ll have a direct impact on price, rents, and incentives. They will also impact methods of sale or lease.
Monitor the finished sales and leasing activity. You may get that information from industry sale reports and fellow agents. On that basis it can be profitable to be on ‘positive talking terms’ with some of your respective professional competitors. Choose some good agents to talk about information with.
Watch the listings beginning on the market. Price ranges and rents is going to be visible over the web advertising.
See the types of sale or lease that work for your different property types. The improvements in a property will impact the target market along with your inspection strategies.
Inbound enquiries to your office from buyers and tenants will have trends and factors that one could monitor. To lift the amount of inbound enquiry it is possible to focus on ‘vendor paid marketing’ on all of your quality properties. Practice your presentations and listing pitches to have that cash.
Professional Property Valuer’s and Appraisers can have lots of information about the industry so that you can tap into; they’re going to only make it happen in case you share information together.
Some very active quality clients may have information that you can consider from recent deals and property promotions.
Therefore the message the following is you could seek advice in the right individuals to jump on top of the trends of costs and rents from my property market. Get to know the correct people and share information ‘both ways’.
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