Sales Force Factors to Focus on in Commercial Real Estate Brokerage

The skills of a sales team in commercial real estate brokerage today are a bit different than the concepts of just ‘selling’.  The skills are unique and special, as are the people to provide those skills.

So who are these ‘top grade’ people?  Why are they so special?  Why are they needed?  They are specialists in a number of different services and solutions across the investment and business property industry.  They have to know how to provide the ‘best’ solutions given the facts relevant to the property, the client, and the local area.

The commercial property market in most locations will shift and change throughout the year.  The leasing and sales cycles will wax and wane with the supply and demand for property locally.  That is where are real property specialist can provide expert service in so many ways.

Property Knowledge and Relevancy

You could say that we never really stop learning in the commercial property industry.  There are always new things to study, action, and refine.  A person with a disposition towards self-improvement will generally succeed in the industry over time.

Taking these things into account, here are some ideas to help you start to construct an effective sales force in commercial real estate brokerage:

  1. The character of the person or people – There are many ‘character tests’ available in business today that will help you in understanding your own business preferences and that of the others in your team. These preferences will help you understand and determine if you are a ‘creator of business’ or a ‘processor of business’; there are real differences to understand and work with in each direction.  You actually need both skills in the industry and they should be reasonably strong at an individual level.
  2. Personal skills and experience – The clients and business people that we serve are smart, astute, and driven. On that basis they want to work with the best local property agents that are the ‘top’ in their field; average agents and brokers tend to struggle on listing conversions and local area marketing.  The property skills and experiences of an agent or broker should be matched to or exceed the expectation levels of clients and prospects that they are seeking to attract.  Every person in your team should work towards a level of self-improvement and skill development so that they can convert new business appropriately and skilfully.
  3. Systems and Documentation – Top agents know how to move something forward, be it in commercial sales, leasing, or property management. They know how to see the next stages of action to resolve a property challenge and they can action the required marketing and the documentation accordingly.  A good brokerage and sales force will have the systems and documentation to achieve that in a professional way.
  4. Administrative interaction and support – The members of the sales force will require administrative support on certain things such as listing processes, marketing preparation and lodgement, and inquiry tracking. The administrative team is a cost to the business so to make the support concept work, real systems and tracking mechanisms are required.
  5. Database software – When you have a lot of prospecting and marketing going on in a brokerage and within the sales team, a comprehensive database system and model is required to keep people on track with the leads, the clients, and the listings. Regular contact and relevancy can occur if your database is drawing you back to the right people with the upcoming property needs.

Taking all of these things in balance, there are plenty of property skills and factors of local knowledge that must be refined and improved over time.  That is what an effective sales force does.  Commercial real estate is a great industry requiring the best people to action the opportunities that are always out there.  Are you up to the challenge?

(N.B. these ideas are also sent out to regularly to our friends in Commercial Real Estate Online Snapshot to help amplify brokerage results…. Get your access here)

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