How to Gain a Competitive Edge in Commercial Real Estate
Master the skill of getting work with these 3 tips.
3 min read
Toronto’s commercial real estate market has experienced its fair share of trials and tribulations over the past year. Multiple sectors have seen a decrease in investor interest as the state of our economy remains uncertain. This may be an intimidating realization for commercial real estate agents across the city. However, the potential to secure market share remains abundant; you just need to know how to get it.
Having a competitive edge in a saturated field of work like real estate may seem like a daunting task. That is why we're sharing three tips that will help you master the skill of getting work and bring your business to new heights.
STAY UP TO DATE WITH MARKET TRENDS
A fluctuating market doesn't have to put a wedge in your business strategy. As we see a shift in decreased demand and increased availability, now is the ideal time to see how you can make it work in both your and your client's favour. Stay on top of market trends, what sectors are performing better than others, and how they can help you achieve your business goals. Potential buyers and investors want an agent who knows the biz's ins and outs; that is why it is vital to deliver the news they want to hear- the good, the bad and the ugly. Trust us; it will help you stand out from the competition.
LEVERAGE SOCIAL MEDIA
Social media is a vital tool for all professionals, and it is more effective at promoting your brand than you may think. As a go-to search engine for businesses, clients and professionals alike, your social media platforms are the first professional impression potential, and current clients have of you. It demonstrates credibility in your industry, all while showcasing your knowledge and leadership expertise. As CRE businesses continue to shift and promote their brands online, social platforms' significance continues to grow. It's simple— narrow in on your target demographic, develop a comprehensive content strategy and engage with your following. The rest will fall into place.
CREATE A VISUAL EXPERIENCE
Commercial real estate can be just as, if not more exciting than residential real estate— you just have to think outside of the box. Tapping into your investor's or buyer's needs will help you create an experience like none other. There is a slew of dynamic technology out there that can help you turn a dull listing into a highly visual buyer's journey. Anything from interactive virtual tours to realistic 3D imaging will help make your efforts that much more memorable.
Standing out as an agent in Toronto's already competitive commercial real estate market can be achieved. All you need is; the right goals, the right tools and the right mindset.
Reference
Walkowiak, R. (n.d.). How to Gain a Competitive Edge in Commercial Real Estate. Retrieved March 4, 2021, from https://www.rlpcommercialtoronto.com/meet-rob-walkowiak-branch-manager
About Royal LePage Commercial Westhaven
Our commercial real estate industry and segment expertise coupled with Royal LePage’s national platform and integrated systems provides best-in-class real estate strategies and a competitive advantage that can’t be beat.
We help businesses identify opportunities and maximize their return on investment with actionable goals, centralized support services and a strong commitment to customer success. Our national partnerships help us establish, guide and execute successful business investments.
We offer commercial real estate agents a professional environment, focused 100% on commercial real estate. Agents can expect unlimited market boundaries to build their business without the interference of a heavy corporate structure. In addition, agents will be able to access Royal LePage’s national referral network of over 18,000 agents to develop more business in their target markets with incoming leads generated daily. The brokerage provides agents a suite of services including marketing, promotional, networking and professional development needs.
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