Sources of Market Intelligence for Real Estate AgenciesIn commercial property brokerage you will need high quality market information to create the right tips for your customers and prospects. In which you obtain that information from and its particular accuracy can be very important. Could you believe in sources? Do you know that the details are accurate and not based on 'hearsay'?
Throughout an average year in property investment, these factors can change many times:
The levels of inbound enquiry for property purchasing
Tenant enquiries for brand new premises
Rent and value ranges
The provision and need for local quality property
Negotiation factors in different contract or lease
Government policies impacting property
Local market conditions
Activities and sentiment in the local company marketing community
Transport along with other local demographic issues
Time on market
Seasonal selling cycles
A great real estate agent or broker has to stick to the top of these problems. To do that you should capture and share the best market information with key people. Quality information through the market will allow you to win better listings available for sale or for lease.
Why don't we examine to get accurate market knowledge and data that you can use. Try some ideas:
I'd personally start on the local planning office. Almost every sale or lease is going to be afflicted with shifts in property planning activity, new projects, and future way to obtain quality property. Month after month check out the planning office to find out what properties are being considered for change or new development. They're going to have a direct impact in price, rents, and incentives. They will also impact ways of sale or lease.
Monitor the finished sales and leasing activity. You can get that information from industry sale reports and fellow agents. On that basis it pays to be 'positive talking terms' with some of the professional competitors. Choose some good agents to share information with.
Watch the listings beginning on the market. Price ranges and rents will probably be visible in the internet advertising.
See the methods of sale or lease that work for the different property types. The improvements within a property will change up the marketplace as well as your inspection strategies.
Inbound enquiries on your office from buyers and tenants can have trends and factors you could monitor. To lift the amount of inbound enquiry you can 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 will have plenty of industry information that you should take advantage of; they will only accomplish that if you share information with these.
Some very active quality clients may have information so that you can consider from recent deals and property promotions.
Therefore the message here's that one could inquire from the right visitors to can get on top of the trends of prices and rents from your property market. Get acquainted with the best people and share information 'both ways'.
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