Commercial Real Estate Tips: Regional Merchants Entering the Digital Marketplace
Every great commercial real estate agent knows that helping clients succeed beyond the sale of a commercial property is vital in maintaining successful business relationships. This process can take many forms and it is essential for commercial real estate agents to give new property buyers the proper tips on how to achieve success in their specific regional market.
After all, if you are a commercial real estate with experience in a certain metropolitan area, you may know the ins-and-outs of the regional economy better than a new property buyer entering the market for the first time. In all cases, the ultimate outcome goal must be geared toward the success of each buyer because their success is your success. If each link in the chain begins to break, the entire transaction is at risk for failure.
Better Business Practices Case Study
Recent studies have shown that adding a digital component to traditional brick-and-mortar facilities can be key in driving sales for your client. Those sales will be critical for future success, as they will enable your client to expand into new (and potentially larger) properties at a later date. If you are the person that is able to steer your clients in the right direction, it is much more likely they will return to you later once they have new commercial property needs in the future. Personally, I have seen these strategies work in practice throughout my regional market of Atlanta, GA.
Over the last few years, local merchants in the Atlanta metropolitan area have seen growing revenues as improvements in the regional economy support consumer spending trends. But this hasn’t stopped many local businesses from expanding their enterprises into the realm of digital sales. One merchant that has successfully implemented this strategy is Atlanta Gold & Coin, which is a family-owned and operated business that serves as a full-service gold coin and bullion dealer specializing in buying, selling and appraising gold, silver, platinum, old, and rare coins.
The company that has taken its traditional business as a gold coin merchant and modernized its transactions in several ways. For in-store customers, flexible hours are offered which include potential meetings with clients during evenings and weekends. This is important because it shows customers that the business strives to accommodate the busy schedules of customers. Meeting customers by appointment allows businesses to provide the undivided attention it takes to thoroughly evaluate collections and answer any questions customers might have.
Adding Digital Components to the Business
These types of interactions help to establish better relationships with potential customers, and this helps ensure the success of the business over time. But Atlanta Gold & Coin has taken its better business practices a step further, offering customers access through its digital marketplace which actually allows customers to mail-in their precious metals for appraisal. Additionally, external financial market sources are displayed and a Blog section is added (which covers recent industry news stories). Each of these strategies allows for much greater transparency for the company, and this is something that is likely to be noticed by returning customers.
This case study offers some great insights for new merchants looking to expand their businesses beyond the traditional brick-and-mortar offering. Of course, it is always important to weigh the legal pros and cons that may be involved in commercial real estate endeavors, as they can help to avoid pitfalls in the future. It is part of a commercial property agent’s job to offer strategies that work will work for property buyers because their success is our success. These are all time-tested strategies that have been shown to work in driving sales numbers over time.
