There’s no worse feeling than thinking you’re on the edge of making a great sale only for it to collapse. Whether it’s right at the end, midway through or even at the start of negotiations, the pain of all that wasted effort is still demoralising. When dealing with commercial property there can be a lot of big money involved which only makes things worse.
You can never predict exactly what other people’s actions are going to be. However, there are a few steps you can take to reduce the risk of commercial property dealings collapsing.
Provide Excellent Service
Essential in all lines of business, from retail work to selling yachts, providing a top level of service adds extra value to negotiations. Being polite, friendly and helpful are all obvious factors you should be doing anyway.
To really boost the potential investor’s experience make sure everything you do for them is completed as quickly as possible, follow up on any feedback you receive and always maintain a professional yet approachable stance. A happy customer is likely to spend more money. Always be thinking about what you can do to further improve the service you are providing.
Be Flexible
Potential investors will likely have certain requirements or needs for the property they’re interested in investing in. To increase the chance of a deal going through it’s important to keep an open mind and be willing to change details set out in the contract for a property.
This could be from changing the length of a lease to its intended purpose, if you are able to. Having some leeway in terms of what the property is used for can help attract more clients and get rid of hard to sell places.
Increase Your Knowledge
Sometimes it may not be your approach that is increasing the risk of deals collapsing, but not having up to date knowledge. Market knowledge such as identifying potential opportunities early on is vital to maximise the sale of a property.
Gaining further legal knowledge is always going to have an advantage too. Redcliffe Training has a range of courses suited to real estate finance which can be done on an individual basis or as in-house seminars.
Have Positive Communication
Communication is also important in all aspects of business. Getting to know your clients well so you are aware of their requirements for finding the perfect property for them is incredibly useful. Keeping in touch regularly and letting them know what is happening with any places they are interested in or other suitable ones on the market will help avoid any deals falling through.
These simple steps and further learning should mean most of your future dealings run smoothly and have the desired outcome: sales!
