In commercial real estate brokerage today, it is essential that you have a plan relating to your sales territory and prospecting activities. Every day the plan can be ‘actioned’ and improved. Over time that will give you growth of market share. If you work a very large territory or diverse town or city, the market…
In commercial or retail property today, you should have some systems to help you qualify the tenants that you are working with. Don’t be too eager to hand out property information without understanding who you’re talking to, and exactly what they are looking for when it comes to a new property or lease requirement. Given…
One of the most frustrating issues in commercial real estate brokerage is with staff. The first problem is in finding the right people for your team, and then the second problem is the issue of keeping them for the long term. When you lose a team member for any reason, the costs incurred in replacement…
Every quality listing in commercial real estate is likely to create a good degree of response from buyers or tenants as the case may be. For this reason you should choose the right marketing response mechanisms that can handle the enquiry efficiently and quickly. You should also consider the tracking processes that should apply to…
Quite often today I see a commercial real estate brokers overlooking the value of their database. They forget about contacting the clients and prospects that they have previously connected with. Given that our industry is based on relationships and networking, the client contact process is quite important to growth of market share. There are many…
Every commercial real estate broker or agent should use a direct approach to marketing so they build dominant market share and listing opportunity. To do this you will require marketing distribution plans and systems. Think about how you want to get your message and services to the right people locally. In most cases you should…
It is a fact that prospecting letters really work in commercial real estate brokerage. That being said you do need a plan to the process. As a marketing process, it is not just a matter of sending out letters and hoping that people will call you back. In most cases they won’t call. You have…
As negotiators of commercial real estate properties and in sales and leasing, we are frequently attempting to bring two parties together in some form of transaction. It directly follows that we should refine our skills in the negotiation process. Success in this industry is a lot easier if you are a great negotiator that can…
In the commercial property industry, the role of a buyer’s agent is quite specific and professional. That being said, focus on the larger clients and the businesses in your local area as part of the process. Quality is the key when it comes to working as a buyer’s agent. You should work for those clients…
Every commercial real estate broker or agent should have a sales plan. In that way they can track their progress when it comes to market share, commissions, and listings. The property market will change substantially during the calendar year. It changes for a number of reasons including economic pressures, business sentiment, seasonal festivities, and client…
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