How do you make the best use of your time in commercial real estate brokerage? You should get involved with your clients and with your listings in an in-depth and relevant way. You should seek to understand what the local property market enquiry is doing, and what the local people are looking for. That can be an ongoing quest in your business activities.
When you understand all those things, you can create consistent results with commissions and listings over time. Systems like this establish opportunities for brokers at a personal level.
Brokerage Systems that Work
Would brokerage improvement be a good thing for you? There are some actions to look at and questions to ask here. Below are some ideas to help you get more out of your working today:
- Get out into your allocated territory so that you can understand what is happening with property ownership and occupancy. There will be ongoing changes that can be identified and optimized with investors, owners, and business proprietors. There are people to see and conversations to create. On that basis, you should be meeting with more people each day and at every opportunity. Use your business card to support your door knocking and meeting activities throughout your territory. Aim to give out 25 business cards per day to new people.
- Get involved with your existing clients so that you know when they are getting to the next level of activity in sales, leasing, or property management. There are always off-market opportunities to create with clients and their associates. Conversations create opportunity so build your conversation depth and frequency with the people that matter locally in property ownership and occupancy. Go back through your client records for the last five years. Understand who those clients are and establish some new contact strategies with each.
- Look at your existing listings and review the marketing strategies in each case. Exclusive listings can be repackaged when it comes to marketing both online and offline. Open listings don’t matter too much. However, you can revisit some of your marketing initiatives with open listings if you believe there’s a reasonable chance of converting a sale or leasing transaction. So, the idea here is that you can revisit all your marketing and refine it for different target markets and better enquiry.
- Spend time each day looking for new listings and new clients. Conversations create opportunities and connections, and you will find more new listings in that way.
- Look at your existing transactions and current negotiations. How can they be improved? Understand how some of them can be advanced to completion and closure. Property owners are generally quite motivated when it comes to negotiation. It then just depends on how you move things ahead.
All these things suggest that you can do more with your time, and your working day. Commercial real estate doesn’t need to be complicated, but it does need to be consistent. Start your career journey now.