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By arlene | June 12, 2008
STEP 2: The Follow-up Interview
At our next meeting we will give you a full report on our findings and recommendations after which we hope to obtain a written exclusive mandate from you to proceed with the sale of the property.
STEP 3: Develop Promotion Campaign
As soon as we receive a written exclusive mandate from you we can start marketing your property. We usually start with a target market analysis. This involves first identifying likely buyer types e.g. Insurance Companies, Pension Funds and Construction companies. From this we will draw up a list of potential clients, that is, The ABC Insurance Company, The XYZ Pension Fund and the 123 Construction Company. We then set up a budget for our promotion campaign, which is aimed at reaching these potential clients. The most effective way of promoting industrial and commercial properties is through personal selling by our sales people. In addition we will also decide on appropriate signs, fliers, decision brochures, direct-mail and classified and display advertisements in newspapers and magazines. Normally classified advertisements play little or no part in reaching prospective buyers for commercial and industrial properties which is in direct contrast to residential properties where such advertisements are usually very important.
STEP 4: Launch Promotion Campaign
When launching our promotion campaign, one of the first things that we do is to develop a feedback system. We keep track of everything being done to market your property, results achieved, feedback received from prospective buyers and problems experienced. This feedback system not only enables us to know what is happening and to make necessary adjustments, but it also makes it possible for us to give you feedback on what is happening. (Agree with the owner on the frequency and nature of your feedback. If necessary, adapt your standard procedures to his needs.)
STEP 5: Conclude Sales Contract
Whenever possible we will use either our own or your standard sales contract form. Such a standard contract form is useful when selling, for example, almost identical erven in an industrial township. All offers to purchase will be made on these standard forms and will immediately be forwarded to you. Where the offer to purchase departs from the set conditions, we will analyse these differences and discuss them with you in detail.
Contracts can often be unique and/or complicated. Also it can be impractical, inopportune or very costly to go through a series of formal offers and counteroffers to arrive at a final contract. If any of the above occurs we can assist you. One way is to obtain a letter of intent from a prospective buyer. However, such a letter has no legal standing, it spells out the most important conditions under which the prospective buyer is willing to negotiate the purchase of the property. This enables final agreement between buyer and seller to be reached more easily. The attorneys involved are also greatly assisted when drawing up the final sales contract.
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Services can be provided by your firm and your method of marketing properties just like what I did continue…
- Services can be provided by your firm and your method of marketing properties just like what I did
- First Hand Industrial Property Analysis
- Tenant Selection
- Commercial Property, Get action to implement your Marketing plan
- Research the Agency and Lawyers
- Implement Marketing Sale Plan
- Exchange control
- THE INITIAL NEGOTIATIONS WITH A POTENTIAL CLIENT
- The initial Negotiation with a potential client
- OBTAINING NEW CLIENTS
Topics: Commercial, Company, Contract, Form, Market, Property, Residential |
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