Strategies for Achieving Client Goals
Our clients’ needs constantly change, particularly over the last four years, so it’s crucial to adapt, anticipate, and proactively assist your clients – even if they are unaware they need help. Clients don’t know what they don’t know.
I am working with a large property owner whose business is located there. He has been in the industry for 30 years and is considering retiring. Brokers have approached him about selling the property and relocating the business. Do you think that is what a retiring guy wants to do? I asked, “If you are thinking about retiring, why not sell the business and the property to someone rather than selling the property and relocating the business?” While it would be nice to sell a building and help him buy another one, that is probably not the best solution. He hadn’t thought about selling the business and the real estate together.
An effective commercial real estate professional executes:
- Understand Client Needs: A CRE Pro always takes the time to understand the client’s business – plans and challenges. With this knowledge, a creative broker will know the questions to ask and what solutions will likely work.
- Data Analysis: Armed with insights into client needs, the next step is to analyze the relevant data. Data drives decisions.
- Strategic Planning: Serves as a roadmap to guide the client through the process and ensure that the client knows where they are in the process and where they are going.
- Partner with Experts: When business owners or property owners engage a reputable broker, they also benefit from the broker’s network. The network brings invaluable expertise, market knowledge, and negotiation skills, facilitating a smoother transaction.
- Proactive Communication: Maintaining open lines of communication with clients and related parties fosters trust and promotes timely decision-making. Nothing is worse than delivering a curveball without the catcher knowing it’s coming.
- Flexibility and Adaptability are crucial attributes. Preparing to pivot strategies to adapt to changing market conditions enhances the likelihood of achieving client goals.
- Focus on Long-Term Relationships: Building and nurturing long-term relationships is fundamental to commercial real estate success. Professionals can lay the foundation for enduring partnerships and happy clients by prioritizing client satisfaction and cultivating trust and loyalty.
At BACON CRE, we help clients “get it done.” Please contact us at (916)761-1202 or [email protected].