Having High Standards and Ethics in Commercial Real Estate Agency Today

Having High Standards and Ethics in Commercial Real Estate Agency Today

In the commercial property market today there are some good agents and some ordinary ones. The fact of the matter is that the best agents usually have a code of conduct and high standards that they work within. Over time the best clients work with the best agents. The message soon travels around the market when there is a ‘top agent in town’.

Quality service is really important in commercial real estate agency today. There are enough challenges today with finding the right property buyers and tenants, so a quality work system or process will help you greatly as a property agent.

Here are some ideas to help you with setting high standards as a commercial real estate agent. Use some of these rules and add your own so you are attracting the right levels of business.

Inspecting the property with the client before listing is always a wise move. You can get to the real facts and concerns of the client as they consider taking their property to the market today

Review all the leases as part of pricing the investment property. Some leases in the tenant mix will boost or detract from the sale and pricing process. When you review the leases you can see the hurdles to the income stream and get the required time to solve tenant mix problems before the marketing commences.

Knowing how to establish property values from a number of different directions is always important. The comparable price method is one approach to take, but also look at capitalization, and the summation process. How would a buyer see the property and what method of pricing do you think would be relevant to the listing today?

Understand what the property enquiries are today; know what they are based on and what people are looking for. Your database will be of real value to the listings that you take on.

Qualifying the people that call or see you about listed properties. As a general rule, do not give out property information in any way until you know that you are dealing with a real person that is open and honest.

Make sure that every listing that you quote is supported by a valid appointment to act. Do not proceed without one.

Exclusive listings are the best way to go when it comes to servicing your clients in selling or leasing. Your sales presentation and listing pitch should clearly give them all the benefits of the exclusive listing process.

Client updates are required as part of every listing. The exclusive listings that you take on are very important when it comes to giving client feedback.

Comprehensive and personal marketing should be applied to every listing. Put yourself in the marketing effort of all exclusive listings. Get involved with the marketing and tell the client what you are doing and why. Don’t just advertise and hope that the property gets inquiry. Make the enquiry happen.

By John Benson

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