Getting to know your investment client is a key part of the commercial real estate business. Given that they require performance from the property, the focus is always on these three issues:The net income
The tenant mix or profile
Capital gain from the propertyFrom these three things, so many other matters evolve and you as the professional real estate agent can be the catalyst to help the client get the results that they need. Services offered by real estate agents are typically:Property Purchase
Property Sale
Property Leasing
Property ManagementEvery one of these services offered in commercial real estate is specialised. The more knowledge and skill you can bring to the client whilst improving items 1to 3 above the better.Importantly the property investor is a repeat buyer as long as they are successful in each step of the property ladder. Establishing trust with the property investor is essential for future business. Here are some key questions to put to your client as you help them with their property investment needs:
What are their targets for the property or their property portfolio and in what time frame?
What is the best way to contact the client when you have information for them about existing or new property matters?
Do they like to hold property for the long term or are they focused on short term gain and sale at a profit?
Who are the decision makers in the property ownership and what information would they like to be getting from you as part of a market update process?
When will they need to acquire more property and what type do they prefer?
What are the typical terms of purchase that they like to operate under?
What are the typical terms of leasing as a landlord do they like to operate under?
Do they have a preference between retail property, office property, and or industrial property, and if so what is it?
What ongoing market information can you help them with that will assist ongoing property decisions?
What other property do they hold currently, and would they like to diversify their current property portfolio now?
What are their preferred methods of sale when they buy or sell?
Who are the accountants and solicitors that the client likes to refer matters to when handling property sales or leasing? Should you introduce yourself to those people to help with the future communication that may be required in ongoing property assistance?When you know these things you can correctly assist the client to understand the market and the opportunity that exists at any time. Every property investment client is unique and different. Understanding that fact allows you to serve the client with up to date property listing and performance information; this is the beginning of trust. When you think and talk property strategy to the client you elevate yourself above the common once off salesperson that is in it for the single sale. Be better than the rest. Be the best.