The 2 Critical Skills in Commercial Real Estate Brokerage Today

As the property market changes in many different ways, there are two essential skills that will get you through most problems and challenges, no matter how difficult the property market may be.  If you refine and improve those two skills through practice, most issues and problems will lessen the impact that they may have on your activities as an agent or broker.

So what are those skills for improvement?  In simple terms they are:

  • Negotiation, and
  • New business prospecting

One thing leads to another and both of these issues are connected.

Here are some core observations for you as you ponder these issues:

  1. The property market goes through peaks and troughs. From month to month you will see identifiable changes in enquiry and property requirements.  You can plan your prospecting activities based on trends in the market and the current levels of enquiry.
  2. There are always clients and investors looking for properties to sell and buy. Continuously connecting with the right people locally will help you find those opportunities.
  3. There are always business owners and tenants looking for property change, expansion, or contraction. Watch for the signs of property relocation.  Keep talking to the business owners in your town or city.

One constant thread or fact in both professional negotiation and prospecting revolves around communication.  The best negotiators and new business prospectors in commercial real estate are great communicators.  They have a proven and deep ability to convey an idea and to speak with confidence and relevance.  Part of the practice process for agents should then be to improve their ability to converse and communicate verbally.  It is a personal thing that cannot be delegated to others.  Are you up to the challenge?

Why and How Does this Work?

The easy and perhaps the most effective way to start this practice process is to start the day standing up and in reading a book aloud for 20 minutes every day.  Here is why this works so well:

  • At the beginning of the day the mind is fresh and clear of distractions. That then makes it a lot easier to improve reading and dialogue skills.
  • The passage of a book will lift and expand your word diversity and vocabulary. They are relevant skill for the times that you must convey a property idea or conduct a negotiation.
  • It is a known fact that in standing up you will enhance the words and dialogue that you use.

Taking these simple facts to the next level you can see how simple dialogue practice will impact conversational strengths and negotiation abilities for any real estate agent or broker.

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