Qualifying Commercial Real Estate Prospects the Right Way
In this property market you will come across all types of people and business owners that enquire about your listings for sale or for lease. Importantly you should qualify all of them before you spend time with them.
There are a few reasons why qualifying prospects in more important today than ever before:
The person or group could have been introduced to your properties earlier by another agent through an open listing.Another agent could already be servicing the prospect with other listings, and they are just testing out the remaining listings around before they make a decision.They may not have the money required to match the asking price or the asking rental.They may have other complications and property issues that will frustrate the deal that you attempt on your property listings.You may not be speaking to the decision maker when it comes down to the person that runs the prospects business or company.The prospect may have spoken direct to the property owner earlier, and they are now using you as a 'go between' to facilitate a deal that could not be put together earlier.So the prospect will generally either want to buy or lease one of your listings. To qualify them you should have a checklist to help the process and to make sure that you cover all the bases.
Here is a list to help you start the qualification process. In giving you the list, it should be said that a successful qualification is a carefully crafted question and answer process instigated by the agent or salesperson.
Some parties will answer all your questions, whilst others will be hesitant to 'tell all'. Top agents deal with this through conversation and reading all the signs of response.
Get their name and contact phone number at the very startAsk for their email address for contact and providing property information.Are they part of a business structure or company and if so can you get details?Are they occupying other property at the moment, and if so where?Find out just how they came across the property or found youWhat are they looking for in a property and why does the current property interest them?What is the timing of the change of property or the current property need?What are the key issues that they must have satisfied in any property change or purchase?You can certainly add to this list based on the responses you get from the prospect, and the other local area factors that you know apply to property listings on your books.
When you ask the right questions, you can build on the opportunity that the prospects bring you; perhaps you will have some other property that will also interest them.
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