Commercial Real Estate Prospecting - Get Your Great Sources of Market Intelligence Here

The more you know about the local area when it comes to investment property the better it is for you and your business in commercial real estate. Market intelligence is growing and changing each day and staying on top of the shifts and trends will give you a great source of leads for listings and sales or leasing deals.

We are in a new property cycle so you have to get on top of opportunities before your competition does. Prospecting and cold calling on a daily basis is essential to the process of business generation for real estate agents and brokers. It is interesting to note that many real estate agents stop prospecting when they think they have enough business, thereby creating another low point in listings after about 90 days. If you do not want the stress of ups and downs in listings and commissions, then start prospecting and do not stop, no matter how successful or busy you think you are.

One of the common and major problems in a real estate office that is just not performing is the existence of sales people that are just 'order takers'. Those salespeople have no pipeline of opportunity and simply wait for a prospect to walk in the door. Those salespeople are 'poor' in more ways than one! A real estate office cannot nor should it carry people that are just 'not cutting it'.

So let's look at some great sources of market intelligence that you cannot do without particularly if results and success are to be on the 'radar for you' this year in commercial or retail real estate.

1. The minutes of the local planning authority at the local council are commonly available for public review. Find out how you can view them each month at they will very likely tell you about upcoming developments and zoning changes.
2. Other property agent's signboards are a real reason to talk to other property owners and occupiers in the same street. This is particularly because the other property owners may be interested in competing with the other property being marketed.
3. Investors and businesses that purchased property about 3 or more years ago are the next ones that are most likely to consider change or purchase again soon. On average, a property will sell or the property owner will look to buy more property at about years 4 or 5. This says that you should create a contact cycle with those prospects before they get to that point of change.
4. Getting friendly with the local Solicitors and Accountants that handle property or property clients is a very good idea. If you create a position of trust and respect in these professional groups, significant business can come your way. The solicitors and accountants need the help of a good real estate agent and broker that they can trust will do a great job. Is that you?
5. The owners of businesses in your area and most particularly the larger businesses are high value people to get to know. These people are very likely the owners of other property from an investment or usage angle. Get to know them and build trust for the long term.
6. Walk the streets each day to talk to the people in the local businesses. Leave your business card. Ask them about what they have seen or know of property changes or activity locally. This process will also help you see more and know more about your area.

If you build these processes into what you do with daily prospecting, then you will build a better real estate business faster. More listings will be possible and your control of your territory will be more profound.