Everyone wants more commercial real estate listings when they work in or run a real estate agency. The real issue however is the quality of the listing and that will include the right price and the right location.There is no point listing a commercial property if it cannot sell. Many vendors will want to sell the property at their price which in reality is likely to be over market. Property buyers are not charities and they will only cooperate to purchase the property only if all the checks and balances are correct. That will include:Quality of improvements
Size of the improvements
Location of the property
Quality of the tenant and lease (if the property is sold as an investment)
Zoning and redevelopment opportunity
Risk and Environmental threats and exposures
Future of the area as a location for investments
Size and shape of the siteIn this property market it is the quality of the listing that really matters. You do not want to be known as the agent that cannot sell or lease, as there are many agents that are just waiting to snatch up the listing when it expires.When pricing a commercial or investment property as part of the listing presentation process it pays to have a checklist that includes items like that above; that list will include all the things that you consider are the critical elements that a buyer of property in your local area would require. The more you specialise in commercial property, it is easy to know just what the buyers want give the trends and pressures of the current market.So let’s say you know what a good listing is for commercial property investors to purchase in your local area. The next step is to find them. The prospecting process in commercial real estate is specialised and should be carried out to a definite plan. The best prospecting plan should be based around and include you contacting:The owners of the best properties in the area in case they may wish to sell, lease, or buy in the future
The major businesses in the area for both sale and leasing opportunity at any future time
The properties that are soon to be redundant and may be considered a redevelopment opportunity
The vacant land in your area. This can be a great source of signage and branding as well.
The properties that were bought or sold about 4 years ago as they are very likely to be the next properties that will come on the market.
The owners of property in the vicinity of other agents signs for sale or for lease. It is common for adjacent and nearby property owners to want to compete with other listings in the street and to take advantage of the marketing of the other property.When you establish your prospecting system similar to that above you have a much better chance of finding the best properties for sale before the other local agents do. Finding property listings is a logical process that requires consistency and diligence. The end result is more commission. Does this sound like you?