Whether or not you deal with commercial clients, you can utilise these indispensable broking tips
Have you ever settled a deal of $130 million? That was how much a minigolf course in Melrose Park, NSW, cost a consortium of Chinese developers. And that number is just a clue to the type of deals elite commercial brokers are now settling. For the forthcoming issue 14.10, MPA magazine talked to Australia’s best, to get the secrets of their success.
Note: tips not necessarily in order of Top 10 ranking
1. Maintain premium networks
Building an elite network of clients is crucial to one top broker, through email, phone, facebook and maintaining a regular blog.
2. Have business experience
Experience in the logistics business has given one broker the knowledge to understand projects from the point of view of the client.
3. Have technical experts in your office
Having a quantity surveyor always at hand helps one broker fully assess construction projects before he puts in applications.
4. Be a one stop shop
Being part of a larger group has helped one broker offer agri-business and equipment finance to his portfolio of skills.
5. Schedule customer contact
One top broker contacts customers 14 times a year, through newsletters, phone calls and gifts.
6. Stay in the loop
Look out for banks trying to deal directly with you clients, warns one broker dealing with high-value, low-volume business
7. Don’t get comfortable
Even if you’ve known your clients for over a decade, you need to continue re-asserting your value, insists one broker.
8. Just say no
One young broker who has rapidly risen up the charts argues that he often needs to turn down business to maintain his focus.
9. Hire specialists
As one specialist broker has expanded his business, he’s taken care to only hire specialists – the resulting referrals boost his own numbers.
10. Make the most out of varied experiences
Running a hotel in Thailand might seem a far cry from broking, but one broker is convinced it helped him define the right client profile for his brokerage.
Discover who made the Top 10 and read their full story, in our survey, sponsored by Thinktank, in MPA issue 14.10, on desks mid-September. Have you taken MPA’s poll yet? We’re looking at attitudes to brokers giving property investment advice – closes on Wednesday.