3 Ways Brokers Can Position Themselves As Trusted Advisers In 2017
It is becoming increasingly clear that commercial real estate players must train to be jacks-of-all-trades to position themselves as trusted advisers to clients. This entails keeping abreast of numerous political, social and economic trends, knowing how the modern client thinks and engages with the world and acting accordingly.
1) Stay informed on policy regulations
Keep an eye on the Dodd-Frank Act. Deregulation hovers on the horizon, and if it’s successfully implemented, capital flow from banks will greatly “ease up,” RealtyMogul.com CEO Jilliene Helman said. CRE may take a hit as rate increases expected from the Federal Reserve go into effect in 2017 “as capitalization rates will move.”
Staying on top of the news — and knowing what it means for one’s client base — is the key to unlocking and retaining a client’s trust in you as an adviser. Keep a regularly updated blog on your website, objectively analyzing breaking news and what it means for your industry and for your customers.
2) Make the most of social media.
Clients in 2017 expect any businesses they interact with to be digitally connected. Consistently updating social media accounts with breaking news analyses and trending topics in both national and local markets engages brokers with clients on media they already interact with daily, positioning brokers as modernized, up-to-date experts and advisers in their fields. An active social media presence also holds you accountable. You will find yourself working hard to distill the news into relevant, intelligent and digestible insights when you know you have an audience depending on you.
3) Invest in brokerage management software
Use web-based software platforms to help manage and organize properties, data, deals, listings, tasks and client relationships. This is a baseline investment for CRE brokers in 2017, and will help you stay on top of each stage of every deal. An online system not only keeps brokers organized, but helps them better serve their clients.
A system that puts all relevant information pertaining to a property, contact or transaction in the palm of a user's hand allows brokers to offer informed market knowledge, deal updates and professional guidance to clients on-demand and in real time. This is an especially valuable tool for keeping clients in the loop in a volatile market facing numerous uncertainties.
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