city buildings on river

It is very easy to over complicate your career in commercial real estate. Simplicity in action wins every time; it helps you see things and adjust. Focus on the basic and important things that will bring results in your career, industry and location. Look at the opportunities for the location and act on those things.  (NB – You can get career tips in commercial real estate brokerage right here in Snapshot)

You can watch the actions and results of others in the industry to see if there are some strategies that you can replicate.  You can also watch the errors of others so you can avoid them. 

When you know the actions and points of focus that work for you, then leverage and traction begin to evolve.

 

New Business – It’s a Personal Thing

Every broker or agent should be working to a basic and simple plan of action when it comes to territory, clients, and listings. They should know the things that are important to their business day and market share. Results come to the people that strive for momentum and consistency.

It is better to do a few things very well than to do too many things randomly.  Don’t complicate your commercial real estate career.

The message here is that you can and should build your market share directly and efficiently using simplicity as the rule.  Understanding this fact, here are some ideas to help you go further:

 

  1. Client Contact – Establish a plan of client contact so you can establish the trust and respect as a top agent for the location. Every time you contact a client, leave them with something of value and of interest for the location and or property type; that information is not some generic brochure about your brokerage.  Be specific and be relevant with the information that you circulate in the location.
  2. Client Requirements – Many clients have a unique property focus and requirement. Ask questions of your clients as you connect with them over time.  Soon you can know more about their property and or property challenge than they do.   At that point, you can introduce ideas about a sale, lease, or purchase.
  3. Property Trends – Watch the local property trends when it comes to prices, rents, supply, demand, and enquiry. Look at how you can get into the cycle of property churn and change.  Are you a specialist in something of interest to local business owners and investors?  When you specialise you can talk and negotiate at a higher level.  That is a strategic advantage.
  4. Local Area Relevance – When you look at your location, get the real facts behind the completed transactions. You can then talk about the achieved prices and rents; not the advertised asking rents or prices.
  5. Trust and Market Knowledge – It takes a good degree of communication and connection with the property players in any market to build trust and confidence. Don’t push yourself on people, but be helpful and direct with local information.  Share your ideas where benefits and improvements can be seen.  The deeper the ideas and the recommendations, the better the levels of engagement with your clients and prospects.
  6. Sustained Momentum – From the very start with these ideas mentioned, you can see that momentum at a personal level is just so important. Build a planned approach to your real estate business and activities that you can action every day.  Track your results so you can move ahead and with a good degree of success.

Commercial real estate is a very rewarding career for top agents and brokers.  Know your market, your clients, and your properties so you can get the traction that you need.  Keep things simple.