Tuesday 22 October 2013

How to get more commissions and fees in real estate brokerage

Understand that a sale today can lead to a leasing opportunity in the future.  A leasing opportunity in the future can lead to a property management appointment.  A leasing opportunity today can also lead to a sales opportunity in the future.  Stay in contact with all of your top clients with quality property.

Connecting with the right clients will help you with the growth of market share and the commission opportunity that you need.  Consider the following questions:

    What can you do now to be comprehensively and professionally better than your competing agents?
    How well do you know your sales territory and the properties within?
    When was the last time that you asked for referral business?
    How well do you maintain relationships with your established clients and prospects?
    Is your database up to date or can it improve?
    Where will the next sales or leasing opportunity come from?
    What are the growth segments of your property market?
    Why should someone use your services as opposed to any other competing agent?
When you know the answers to these questions, you will understand the segments of the market that can offer you the best levels of opportunity and growth.

It takes a long time to convert a client and win a listing.  Unfortunately many agents and brokers get to that point and then fall behind badly when it comes to servicing the listing.  If you have taken the time to prospect and win the property or the client, it is just the start of the process.  Creativity in marketing is then required to attract the levels of enquiry and inspection opportunities.  Client feedback is also paramount to helping solve the property challenge.

So here are some tips to help you generate more fees as a broker or an agent:

    Your proposal or presentation should be structured around the best solution for the client and property.  Understand those factors before you start.  If you have structured your message accordingly and professionally, you will not be necessary to discount your fee or your marketing costs.
    Most clients like to work with an agent with dominant market share for the property type and the location.  Get plenty of signboards into your sales patch and territory so you appear to be the agent of choice.  The exclusive listing process will help you do that.
    Structure a reward or bonus fee for a better price or rental outcome.  If your industry standards and commissions allow, structure your commission fee base around the possibility of a better fee for a better outcome.    http://rhnws.com.au/

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