4 Ways to Refocus Your Commercial Real Estate Business

city buildings and Hong Kong harbour

There will always be challenges in commercial real estate brokerage, across sales, leasing, and property management.  Those challenges will be both personal and brokerage related; you work in the middle of a churning and changing property market, so adjust and stay on track through all transactional pressures and shifts.

 

Frustrations will always evolve when you are working with different people and the many different property challenges.  The characters of the people involved in the property transaction will also influence negotiations and deal outcomes.  Communications skills are critical to all the attributes of your business at a personal level; practice is required to improve any real estate business.  Your skills can always be improved.

 

Strive to achieve negotiation excellence across all facets of a property transaction and a negotiation.  Understand how to work with different people and the different pressures of the property market; many things change throughout the year, and adjustments are always required when it comes to marketing, negotiations, and communications.  When things go wrong, learn how to refocus your efforts and get back on track.

 

Setting Brokerage Focus Rules

 

Here are some rules to help you focus on the important factors of our business:

  1. TIME: Don’t waste too much time dwelling on the impact of losses or listings that simply did not convert. There will always be other things to work with, particularly if you have a good database and client contact list.  When something goes wrong with a conversion or transaction, get back on track with fresh client contact and fresh listing pursuits.
  2. ADJUST THE PLAN: If something is not working for you, look at your plan and your approach with listings, clients, and transactions. Refocus your plan and start the systems of strategy again.  Action is important in commercial real estate brokerage.  Learn how to take consistent action every day as part of your business processes.  Act on the things that matter to your career and your listing opportunities.  Control your listing stock and know your clients; that is the rule to stick to in your business activities.
  3. SET GOALS: Challenge yourself with a few realistic goals relating to your property market, client activity, and listings. Don’t stretch yourself too far with unrealistic expectations.  Stay on track each day with the actions that you know can bring results.  Always track your actions and the results that you are achieving with listings, clients, and prospects so that modifications can occur when necessary.  The best agents modify their activities so that their results improve over time.
  4. USE PEN AND PAPER: Write things down as you proceed through the day. Note taking processes relieve much of the day to day pressure and allow you to focus on the things that matter at the right time and in the right way.  You can always convert your written notes to your database or your computer later.  Momentum is important in commercial real estate brokerage.  Write important things down and then move on with key activities.

 

So, there are some good things that you can do here as part of building your real estate business and professional activities.  Don’t let any transactional error or a difficult listing circumstance destroy your focus or your momentum; get back in control.  The brokerage results with clients and properties are always there for you to tap into through personal processes and plans of approach.

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