In commercial real estate and investment property your leads for new business come from a number of sources. The more leads that you can generate and optimize, the more successful you will be in getting the best listings. In this market, the quality of the listings is so important given that the buyers and the tenants can be so selective.
Even as this is written, we are seeing changes to the commercial real estate market interest as ‘cashed-up’ investors position themselves for the best property assets as they become available.
Best Commercial Tenant Types to Surround Your Business With
We cannot cover all the sources of commercial real estate leads here as some of them are unique to your market in many respects; however it is worthwhile raising the main common ones so that you can have them covered. Importantly you must know what a lead or source of new commercial real estate business looks like in its early stages, and then you must know how to convert it to fresh momentum and a deal.
Local Business Acquaintances
These are most particularly those people who you have known for some time and who are likely to cooperate as an extra set of eyes in the marketplace. Choose of these people with care and remain in contact with them constantly.
Professional Business People
In your marketplace, there are a number of categories of business people to whom you must remain connected. The highest on the list are lawyers, accountants, town planners, financiers, architects, local politicians, and engineers. All of these people have significant involvement with the commercial property industry and the property owners. They will likely hear about a commercial property transaction before you do. In many cases these people need the assistance of a good commercial real estate broker to help their clients in a variety of ways.
Local businesses produce change and flux in the marketplace. As time progresses, you should constantly encourage ongoing contact with all the major businesses in your precinct. They are the ones that regularly need to buy, sell, and lease premises; this means all the local managers and business proprietors who are involved in property decisions and creating commerce generally in the community. Recognize that they do not normally know much about commercial real estate. You can bring them updates on rental and property prices regularly to assist them with a future property need.
Banks and Investment Firms
These people need property transactions for their business to survive. They are also receptive to working with professional real estate agents who understand commercial real estate and act professionally. If you can supply them with the source of a new large mortgage or property development, they are likely to offer you the opportunity for a listing or a sale with their clients in the future.
If you’d like to learn more about commercial real estate investing, please contact us.