Guy Molina posted an update 3 weeks, 3 days ago
In real estate brokerage you’ll need top quality market information to create the correct recommendations for customers and prospects. Where you have that information from as well as accuracy will be really important. Are you able to rely on sources? Are you aware how the info is accurate instead of based on ‘hearsay’?
Within the average year in property investment, these factors will change quite a few times:
The levels of inbound enquiry for property purchasing
Tenant enquiries for first time premises
Rent and price ranges
The supply and demand for local quality property
Negotiation factors in any contract or lease
Government policies impacting property
Local market conditions
Activities and sentiment from the local company marketing community
Transport and other local demographic issues
Time on market
Seasonal selling cycles
An excellent realtor or broker has to remain on surface of these issues. To do that you need to capture and share the correct market information with key people. Quality information from your market will allow you to win better listings for sale or for lease.
So let’s look at to get accurate market knowledge and details that can be used. Try some of these ideas:
I would start on the local planning office. Just about every sale or lease will likely be influenced by shifts in property planning activity, new projects, and future availability of quality property. Monthly go to the planning office to find out what properties are considered for change or new development. They’ve got an effect on price, rents, and incentives. They are going to also impact ways of sale or lease.
Monitor the finished sales and leasing activity. You will get that information from industry sale reports and fellow agents. With that basis its smart to be ‘positive talking terms’ with a few of your respective professional competitors. Choose the right agents to share information with.
Watch the listings starting on the market. Price ranges and rents will be visible in the internet advertising.
Understand the ways of sale or lease that actually work for the different property types. The improvements within a property will impact the target market as well as your inspection strategies.
Inbound enquiries to your office from buyers and tenants could have trends and factors that you could monitor. To lift the levels of inbound enquiry you’ll be able to focus on ‘vendor paid marketing’ on all your quality properties. Practice your presentations and listing pitches to obtain that cash.
Professional Property Valuer’s and Appraisers may have lots of industry information for you to utilize; they are going to only do this in case you share information using them.
Some very active quality clients will have information that you should consider from recent deals and property promotions.
And so the message this is that one could inquire of the right visitors to can get on the top trends of costs and rents from my property market. Get to know the correct people and share information ‘both ways’.
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