The commercial real estate industry keeps changing. The tools we use continue to advance. Underwriting and lending trends keep evolving. Buildings are constructed differently and house different tenants. We use different methods to source and communicate with prospects and clients. What we sometimes fail to realize is that in the face of our rapidly transforming industry, our clients don’t change that much. They want the same things that they’ve wanted for many years now. So as an industry we must face the facts and learn.
What Clients Want From CRE Brokers
- A broker that answers the phone. One of the most frequent complaints that clients have is that they can’t get their brokers to take their calls. The issue gets even worse when the broker doesn’t answer the phone after the client signs the listing. You would be surprised how many of your competitors fail to show their clients this simple courtesy, and how much opportunity it creates for you to find new, loyal customers. What Clients Want From CRE Brokers - A broker that answers the phone. Click To Tweet
- Accurate estimates of final selling or leasing prices. This desire creates a Catch-22 situation. On the one hand, when you give a client an accurate price that fails to meet their expectations, many will refuse to do business with you because your price is too low. On the other hand, buying a listing can guarantee you a disappointed client down the line. Tell your clients the truth and remember the old rule that sometimes it’s better to be the second broker to work on a deal than the first. What Clients Want From CRE Brokers - Accurate estimates of final selling or leasing prices. Click To Tweet
- Access to opportunities. Savvy clients know what you know — the best deals almost always sell long before they make it to LoopNet or Costar Exchange. They expect that you will track the market, identify the hottest deal, and bring it to them. What Clients Want From CRE Brokers - Access to opportunities. Click To Tweet
- Courtesy and professionalism to their standards. It’s our business to work on large transactions all-day, every day. We juggle multiple deals, each of which may have a paycheck attached that runs into five or six digits. Many of your clients, though, are the opposite. Sourcing a tenant may mean the difference between being able to stay retired and having to go back to work. They might be selling their building after having their business occupy it for the last 40 years. In many cases, these transactions are much more than just business to our clients, and they want their brokers to remember it. What Clients Want From CRE Brokers - Courtesy and professionalism to their standards. Click To Tweet