Commercial Property Agents – Cold Canvasing on Foot to Grow Your Market Share

In commercial real estate today, your prospecting efforts should include an element of cold canvassing on foot. This will mean getting into your territory on a daily basis and meeting with the local business owners and proprietors. That has a couple of immediate benefits; you get to know the area, and you get to know the people.It is an established fact that the local businesses and or their proprietors know a lot more about the local area than you do. In many respects, they can tell you about the things leading to a future property sales, and property leases. For this very reason, it pays to include them in a personal prospecting process in your daily diary.So how can you go about this prospecting to make it work for you? Here are some ideas to help:
Split your streets are up into segments of priority. Those streets should contain all of the businesses in your local patch. The segments will relate to popular business locations, and less popular business locations. In the first instance, you should focus in the high priority areas and streets as part of the prospecting model. When you have finished those priority streets, you can move into the secondary zone.
Look at the history of the area with and the movement of commercial tenancies and businesses over the last few years. Look for any patterns relating to sales and or leases. Some tenancies will be seeking alternative occupation at the end of their existing lease. A questioning process will help you identify those businesses as part of your prospecting model. When you find businesses that are tenants, you can remain in touch for the long term.
Visit the local planning office in your local area. That office should be aware of and be controlling any new property developments throughout the region. From your perspective, you are looking for any new property developments coming up that could have an impact on the supply and demand of commercial and retail property. Any new and modern property developments may very well impact the market rental across your region due to greater levels of incentive and enticements. Most property owners involved in new developments will do everything possible to influence a tenant movement to their vacant property. Their incentive program will be part of the property development cash flow. Like it or not, new properties will impact existing properties, and on that basis, you need to prepare for the variations.
Visit at least 5 to 10 local businesses on a daily basis. This should take approximately 60 to 90 minutes of your time. There are two things that you should carry with you as part of this process. Your business card will be essential to the process, and can be left at every business that you visit. It is highly likely that your business card will be retained for future reference. Do not under any circumstances attach your business card to some other marketing material. It is quite likely that any other marketing material will be put in the bin and therefore take your business card with it. You can however take with you a separate informational flyer about local market trends and property prices in the local area. You are talking with business owners, and many of them will lease property. For this very reason, you should have rental information and lease information on that same information flyer.
Commercial and retail real estate are special parts of the property industry. In many respects, personal relationships are more important in these segments than in any other parts of the industry. That is why your efforts in getting in front of many business owners will help you greatly in creating more market share and market dominance. Those business owners will tell you a lot about the local area, the neighbors, and the landlord. Over time, they can assist you to move to the top of your industry.

Property Being Swooped Up In Cape Town, Southern Africa

Cape Town, which is listed in the top 5 cities to visit before you die, has had a tremendous boom in property in the last few years. Known for it’s famous Table Mountain, the city lies in the cradle between the mountain and the sea. Cape Town seems to be, in recent years, a place for not only locals within the country, but a place for people all over the world to invest in.With the mix of cultures in this city, everybody seems to have caught onto the friendly vibe. Foreigner’s come through only wanting a holiday and end up falling in love with the beauty. Some Tourism sites suggest it could be the variety of entertainment and activities causing the property boom. Due to the vast mountain ranges, nature reserves and with having the ocean all round, there are plenty out outdoors entertainment from surfing, mountain climbing and hikes available.Dining in the Cape is also an experience that a lot of the locals and visitors take great pleasure in. Due to the different cultures, there are a large variety of different ethnic foods and vibes to choose from, whether it’s a Cape Malay Curry or Chinese. The different venues also range from a laid-back finger food, to formal gourmet.There are plenty of places to choose from when looking at living in Cape Town. For people on the move, there are houses and apartments within the city of Cape Town, which hold all the excitement of living within the lights and in the buzz of the action.For the quieter types, houses with sea views, forest suburban living, as well as living in lush valleys are not just dreams anymore but a reality in this city. One possible explanation for the boom in property sales is not only the scenic surroundings, but also the business that has grown in the last ten years..The film and advertising industry in Cape Town has reached an all time high. With the talent of the people as well as the variety of locations, Cape Town is slowly becoming one of the more popular places to film movies.With the added value of almost perfect weather all year round, filming outdoors for the whole day becomes the normal thing. It seems everyway you look at it, Cape Town has all the benefits of the perfect holiday home, or everyday home as well.Property investors suggest that the boom will probably carry on for a while and then eventually stabilize, but with Cape Town in its favour.

The SA Property Market and the Economic Downturn

The South African property market has, by and large, been able to weather the current international economic downturn far better than many of its European and American counterparts.Iconic real estate will always be in demandAccording to local real estate agents, high end property, such as iconic real estate along the Atlantic Seaboard in Cape Town, continues to defy the doom and gloom of dipping market trends.The Cape Town property market is effectively a tale of two markedly different sectors – the affluent areas, like Camps Bay and Clifton property, and the lower income areas that make up the bulk of the city. The former appears to have bucked the international trend, with Camps Bay and Clifton property, for instance, continuing to command record-breaking prices, while the latter is undeniably feeling the global pinch.Banks reluctant to dole out cashHigh interest rates and the much vaunted National Credits Act have had an impact on prospective buyers reliant on borrowed money. Couple that with the reluctance of banks to dole out cash without sizeable deposits or collateral to cover the finance and it stands to reason why lower income property sales continue to dwindle, albeit at a slower pace than the rest of the world.Those who bought property on a buy-to-let basis are arguably the most vulnerable right now, with an increasing number of tenants unable to meet their fiscal commitments. However, recent interest rate cuts by the Reserve Bank will allow hard-pressed consumers a little breathing space and will hopefully retard burgeoning tenant defaults.Demand for rental property on the riseAlthough the economic climate is still undeniably rocky, the demand for rental property appears to be on the increase and this in turn will have a positive spin on attracting more prospective buyers to the market.The good news for South Africa, however, is that economists are predicting an end to the recessionary blues as early as next year, with an anticipated 5.3% growth in 2010. Couple that with normal cyclical trends in the property market and South Africans can expect positive capital appreciation as early as next year!Lack of liquidity and lower demand key inhibitorsAlthough there are a number of factors that continue to inhibit a full market recovery, including the dearth of liquidity and lower household demand, the South African property market appears to be in remarkably good shape compared to the rest of the world and continues to offer great value, especially for the cash flush.