Selling commercial property is a viable career path for any real estate agent, but it is vastly different from selling residential property. An agent must learn how to navigate differences in marketing, property types, and financial options to be successful. If you are considering starting a real estate business for sale of commercial property, here are five things you need to do to thrive in the Denver, Colorado, area.
Choose a Mentor
Making the change from selling residential properties to selling commercial properties is difficult. While you may be familiar with the main aspects of the real estate industry, there are many small details that are different. Not only do you need to become well-versed in the financial options commercial buyers have available, but you also need to learn how to market a completely different type of property. Commercial buyers are looking for different aspects of a property than residential buyers are, so you need to learn how to meet these new needs appropriately.
The easiest way to learn this new career path is to align yourself with another commercial Realtor who has plenty of experience. You should choose a real estate agent who is well known in the area and has a positive reputation. He or she should also be willing to share industry knowledge with you and explain the subtle contract differences you need to be aware of.
Learn to Market Yourself
To grow a successful business in Denver, you must first make a name for yourself. It isn’t enough for you to simply have commercial real estate for sale. Clients will not call you if they do not know you exist or what you have to offer them, so it is important to get your name out. Aligning yourself with a more experienced commercial Realtor while you learn the business is one way to spread awareness of your name, but you should also use the following marketing tools to network with clients:
- Social media
- Print marketing
- Email marketing
- Grassroots campaigns
- Community events
Market Your Properties
While the basics of real estate marketing are the same for both commercial and residential properties, it is important to understand that many of your commercial clients may live remotely and not be able to view the property in person. Because of this, it is essential to find creative ways to market your property. Maps are great visual tools for large properties such as farms or land, while virtual tours are viable options for smaller property types such as office spaces and retail buildings. Aerial videos are also great tools.
Educate Yourself Constantly
Just as in any other industry, the world of real estate is constantly changing. As a Realtor, you need to remain up to date on these changes so you can best serve your clients. From studying available financial options to checking city zones, you should be in the habit of constantly learning to improve your service. This will help you appear to be knowledgeable and reliable, so clients will choose you to help them obtain commercial property.
Prepare to Work Hard
Clients searching for commercial properties have different needs and more hectic schedules than those looking to purchase residential properties. As such, you may find yourself working long, odd hours to meet the needs of your clients. You may be required to show property early in the mornings, during your lunch break, or even late at night to accommodate client schedules, and they may have specific criteria that make it difficult to find a property to show.
If you are prepared to put in the required amount of work to gain clients, keep them satisfied, and use them to develop a positive reputation, you can become a successful commercial Realtor. If you are thinking about becoming a commercial Realtor in Denver, contact Unique Properties to learn more about the business and explore commercial real estate options.