Career Tips in Commercial Real Estate Agency

Many people think about a career as an agent or realtor in commercial property sales and leasing. It’s a great industry full of opportunity and growth. In saying that, it should also be said that it’s a career that requires great skill and personal development if you want to rise to the top.

There are lots of ordinary sales performers that come and go. In most cases they do not have the sustained focus and the knowledge to make the whole thing work. As in any sales career, you get out of it what you put in to it. Self-belief is a great thing, but action is required. A lot of salespeople find the action thing a bit difficult to sustain; they soon slip back into their old ways.  Persistence is a great skill to learn.

Your Property Career Blueprint

Given that the property market is still tough in many locations, here is a ‘blueprint’ or plan of some of the main tools that can be used in giving your career in commercial real estate some real momentum.

  1. FIND THE BUSINESS: Prospecting and cold calling for new business is the most important thing you should do. It is a daily task that should be practiced and refined. As you improve, you create more meetings and potential clients that will do business with you.  Brand awareness is really important in our industry.
  2. TRACK YOUR CONTACTS: Building a database is just so important. It is a personal thing and should be part of your daily planning and research. Each day the people that you speak to should be captured into your database for future reference. Some salespeople do not do this very well and the database becomes a random record of old information. As your database builds it strengthens your market knowledge and market share. You then have lots of people to talk to and convert to sales or leasing transactions when the time is right for them. As to how many people you should have in your database, the number will vary but 400 to 600 is a good number and should produce results for you. Now these people are not just names; they are well known to you and you keep in regular contact at least every 60 days or so.
  3. KNOW THE FACTS: Local property knowledge will be part of your research and ongoing personal development. When you pitch for a listing or close a deal, the local knowledge that you have about properties, prices, rents, and owners, will help you negotiate and inform. This information will help you close deals.
  4. EXCLUSIVITY: Exclusive listings are the way to build a quality career in commercial real estate. You can then focus your efforts on a client that is 100% with you to market their property effectively. Make sure you ask for Vendor Paid Advertising as part of every Exclusive listing.
  5. SPREAD THE WORD: Get your name on many property signboards in your local area. Signboard presence will help you with territory domination. The local property owners and business proprietors tend to call the person with the greater number of signboards.
  6. FOCUS YOUR EFFORTS: Listing presentations, negotiations, sales pitches, and marketing skills are all part of the job. Many salespeople and realtors rank themselves highly when it comes to self-assessment within these categories; the reality is that most are quire ordinary and cannot handle the high end negotiations well. All 4 of these skill bases should be constantly practiced, given that the competition agents will always be chasing the same listings and deals that you are. You can never be ‘good enough’, as someone will always be better, so make the effort to self-improve and practice the things that are critical to your job.

So this short list can start your focus and help your results in finding more listings and commissions. The business is out there but the only way to find it is personal and sustained effort. Develop good habits and drive them consistently every day.

2 Comments

  • Matthew R Giese

    October 13, 2012

    Thats good, your blog is cool, i like it. Thanks for the efforts my friend.

  • Liberal Cabrera Raya

    October 23, 2012

    I became honored to obtain a call coming from a friend as he identified the important points shared on your own site. Looking at your blog write-up is a real amazing experience. Thanks again for taking into consideration readers like me, and I hope for you the best of achievements as being a professional in this arena.