As you enter a new calendar year it is a valuable time to consider the best methods of prospecting for new business in commercial real estate brokerage. In that way you can start the New Year with real momentum whilst most other agents are stalling or struggling. The next 6 weeks set the foundation for momentum over the next year. Start the year with real planning and action. Understand exactly how you will be finding new business and why that business will be attracted to you. Some new business methods work better than others. It is also the case that some agents are more effective at certain elements of prospecting and networking for new clients. Choose the things that work for you and improve them so that plenty of leads and opportunities can come your way. Here are some prospecting rules that are worth considering if you want to grow your market share over this next year:
- Developing a habit of connecting with new people is really important. Devote 2 to 3 hours per working day to connecting with new people. This is a base discipline and is non-negotiable if you want more clients. Most agents don’t or won’t do this so you can see the advantages here if you can get this equation under control.
- Look at the market segments and locations that are successful or have been successful for you. They should quite likely be the segments that you work on for the coming year in some major way. How can you get more of that business? Some property ownership research may be required.
- How many listings do you want to attract and convert per week? From that question you can consider the personal efforts and strategies required in cold calling and prospecting. It is a personal approach that cannot be delegated to some ‘call centre’; those agents that try to delegate the cold calling requirements to someone else are rarely successful themselves and waste a lot of money on the process.
- Most of the people that you talk to will not want your services today; what you should do here is check their ‘future need’ so you can stay in contact for the right event or challenge that they may face.
- Build a prospecting script that you are comfortable with. Don’t pitch your services when connecting for the first time, but ask questions of the people that you speak to. Find out what they are doing with investments, business decisions, expansion and or contraction. There will be changes for most businesses and investors in any period of 5 years. It’s those changes that you can help with. Find those investors and business leaders that are requiring help with business changes.
It is a fact that those commercial real estate agents that develop and stick to a prospecting and cold calling plan can be very successful over time. It is a personal process and it requires great discipline and commitment to time and effort. We have choices and on that basis make the right ones.