She started out just like everyone else, but unlike everyone else Pam Golding became an international leader in property. Find out how.
All the answers to your unique business lifestage questions
Are you looking to improve your sales techniques or to find the perfect long-term tenant for your commercial properties? Why not apply winning strategies from someone as renowned as Pam Golding? "People told me I was mad to start a business in the market as it was then. But I thought to myself, if I can survive in this market, business will fly when things improve,” says Golding.
Related: Is now the best time to jump into South African commercial real estate?
“While business skills and acumen are important, key ingredients in any successful business are courage, determination and passion. If you wish to grow your business, employ those who have the ability but also have integrity, who share your passion and who have a positive outlook and zest for life,” says Pam Golding.
Here are three top lessons from Pam Golding that you can use to improve your commercial property business:
Top Lesson 1: You must always know what your customers are looking for
Keep in mind that not all investors and tenants know exactly what they’re looking for, which is why you need to have the skills to connect properties with customers.
“I have been told I have a sixth sense when it comes to property. Being a good listener and perceptive to a client’s requirements has been imperative,” says Golding. So, always match businesses to your portfolio capabilities by understanding what your potential tenants are looking for.
Top Lesson 2: You must always provide what your customers (actually) need
While hustling, you still need to keep an ear to the ground to ensure you’re offering everything your clients are looking for. “As a leading residential property agency, we have developed close relationships with many corporate decision makers and a number of these clients expressed a need for a service that can take care of their every property requirement,” Golding says.
“That is why we created our commercial broking service, a flexible product designed to provide decision makers with a convenient and full spectrum property service.” If you can, you should expand your business into a new sector (beyond offices) like factories or warehouses to cover a larger market. Or, why not offer more corporate-focused services like Pam Golding did?
Related: What you need to know about marketing your vacant commercial property
Top Lesson 3: How to sustain your success
It’s not just enough to have a successful business you need to sustain the success in order to become more competitive and attractive to more tenants. “Once you have succeeded in establishing a successful property brand, ensure that you retain integrity. It’s almost impossible to place a value on brand equity and integrity. Coupled, they make for strong, lasting client relationships,” says Pam Golding.
To ensure you have long-term success, your property business needs to compete on more than just price. Price can be attractive to investors and tenants in the short-term or in a challenging sales market, but if you offer high-quality service that’s driven by integrity, you can build trust – and that trust will lead to future sales.
- Be a good listener and perceptive to client’s requirements.
- Expand your business to cater to existing clients’ needs.
- Always strive to maintain the integrity of the property brand you’re developing.