A Formula for Achievement in Commercial Real Estate Brokerage
As an agent, it is easy to get ‘lost’ in commercial real estate brokerage. There are plenty of things to do and people to contact. That is where you can get ‘lost’. Without a systemised approach to the industry, you will find things tough and overwhelming.
Don’t struggle in your career, but instead get organised and disciplined. Every day is a good day to attract more people and build your business faster.
How do you achieve more momentum in your career? You probe the market for new people, properties, and opportunities. That takes plenty of calls every day.
Real estate Simplicity Always Wins
What can you do? Use your mobile phone as the ‘tool of choice’ in growing contacts and relationships. Make calls from your lists and your research. It’s not hard, and it’s simple, but it is something that takes a lot of discipline at a personal level.
A Proven Brokerage Formula
Here is a proven formula that will help you in your brokerage activities. Take these ideas and shape them into your business model and property location:
- Investigate – Look into your situation and discuss the facts relating to property ownership and operational businesses. There will be new people that you can connect with who own or occupy properties. They are then your targets for ongoing contact. Some will need your help; others will not. A questioning and contact process will help you handle that and optimise the outcomes. How many new people can you find and contact every day? That strategy will build your real estate business, so don’t overlook it; optimise it and act.
- Engage – Reach out to new people and make contacts where you see the need for property change, investment, relocation, and expansion. There is a real skill here to develop, and that is the professional way to contact new people. Many agents struggle with that and fail to do it well. If you can build an experienced and confident approach to connecting with new people, you will win more new business faster than in any other prospecting process. Practice your skills here and get things started. Engage with local people. Create conversations.
- Market everything comprehensively – Your existing listings are reasons to talk to local people. Use your listings to ‘door-knock’ and make calls into the local area and the region. Target market your property listings as you can have something to talk about as part of that simple process. Create telephone calls, letters, and emails based on your existing listing stock. In saying that, don’t just send out the information and hope that someone will come back to you. That generally won’t happen. Use your emails and letters as a basis for call follow-up. That is how you can get more relevant conversations underway.
- Campaigns and enquiries – A simple listing campaign will create queries. As you get more new listings from your promotional campaigns, there will be a growing list of queries that you can work. So, the question is, ‘How do you register and control your enquiries?’ Simplicity in prospecting is essential, and follow-up is part of that.
- Analysis and progress – At the end of the week, you can assess how you are progressing with your marketing and your contact processes. A good time to do that is Friday night or Saturday morning. Check off the results and momentum activities of the week. Examine your progress and sift through the records of contacts made and meetings created. Who should you continue to contact and why? Always use information and feedback as the ‘foundation’ of momentum and change.
Opportunities in Brokerage Exist
All these things allow you to explore your property market to study the facts and the changes. Look for items that are happening, and those that are yet to occur. Soon you will be seeing potential transactions, people, transitions, and leads that can be worked. That is the formula for real success in commercial real estate today. Are you ready for the discipline to make this work?
