Powerful questions will help you with momentum and focus in commercial real estate brokerage. Those questions can be directed at your clients, your team, yourself, and your brokerage. To get results in sales and leasing today, total focus is required across all of those elements to get traction and momentum.
Here are some questions to make you think, and perhaps you can relate them to your time yesterday as a good reference point:
- How much spare time did you have that was not fully utilised?
- What could you have done less of during the business day that had no relevance to building your real estate business?
- What factors of interference happened during the day that diverted you from the most important things? How did that happen and how can you avoid that in the future?
- Did you fully commit 1/3rd of your day to building your business? Could it have been better?
- Has the real estate team fully integrated and shared opportunities across the group?
- Have you asked your clients for a price adjustment and or a marketing funds injection to boost property interest?
- Have you asked your clients for referrals and leads to people that they know?
- Have you asked your prospects and clients for an update on property needs and investment requirements?
- Have you checked on the progress of recent deals and transactions to make sure they are still on track towards settlement or leasing?
Success in commercial real estate is largely built around the quality of the questions that you ask and what you do with the information. All too often you will find agents and brokers take things for granted and fail to delve into opportunity or deal activity.
Every client and prospect connection is an opportunity to ask questions and get closer to the property needs and pressures that clients are experiencing. Think about these variables that change all too often:
- Vacancy factors may be putting pressure on property income and occupancy
- Tenant movement may be shifting the landlords plans for the property
- Neighbouring properties may be coming up for sale or lease
- A sale and lease back opportunity may be possible to help businesses with cash flow
- Tenant mix changes may help your landlord clients with net income results
- Property expenses and outgoings will impact the net income for any landlord
- Shifts in property zoning and building codes could impact future best use
- Diversification in property portfolio ownership will spread the risk of income exposure for some of your clients
So there are plenty of things to ask questions about. When you next connect with your clients and prospects, ask real and relevant questions that can help them connect with the market more successfully.