In commercial real estate, it is easy to let the day take or shape its momentum; unfortunately, in doing that you lose too much time and cannot capture the transaction opportunities before other people. Staying ahead of the competition is a vital part of commercial real estate advancement at a personal level.
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Prosperity comes mainly to those agents that take a positive personal approach each day to engage with new people and creating conversations. That is a necessary business discipline that is easy to say and hard to do. Most agents say that they are doing some of that now; however, they are usually doing it at an elementary and ‘low frequency’ level.
Think About People and Action
When you consider the numbers of new people that you have spoken to in the last few days, if you are like most agents, the amount will be less than 10. There is a big difference between ‘thinking and doing’ in brokerage when it comes to connecting with new people. The victories to be achieved in commercial real estate brokerage will be from the numbers of new people that you have spoken to daily and then stay in contact with over time.
Brokerage Numbers Game
It is all about the numbers. Set a target for between 25 and 50 new people to contact daily and find a system to achieve that. The ‘system’ is one that works for you, and it is something that you can continuously implement. When you take ownership of the idea and develop your ‘system’, your real estate business takes off with more new business opportunity and plenty of potential clients. Does that sound interesting?
Attainment of listings comes from deliberate effort and growth of ‘pipeline’ activity. You cannot be a ‘big-shot’ in the industry without getting good and personal canvassing and prospecting. That simple and proven fact sits well above everything else in the industry.
Here is a ‘blueprint’ for brokerage success. You can shape these issues to your location and property types and or preferences.
- TERRITORY: Advance your territory coverage comprehensively. When you consider the zone of allocated buildings and businesses that you have been given to work in, there is a reasonable degree of research needed to find out what is happening with property investment and ownership. There are also businesses in the zone that you will need to get to know. Get busy in knowing what building ownership records are and choose your priority buildings or streets. Concentrate your efforts. Make headway with building ownership record investigations.
- CONTACT: Increase your face to face contact from the previous business strategy. From conversations, you will create meetings, and meetings lead to meaningful discussions.
- MEDIA ONLINE: Upgrade your social media activity, so you are posting something about property in the local area at least three times a week. You can post that information in the simple text format as an article, or you can do a case study, a market update, or post a set of building photos or precinct images. Make your social media exciting and local for people. That is where most of your new business will come from as a zone or precinct.
- OUTBOUND CALLS: Increase your outbound calls, and as part of that ensure that you are progressing or updating your database records. That simple strategy leads to meetings, more listings, and those listings will lead to enquiries.
When you consider these things, you can see that the best way forward in brokerage is to talk to more people. Develop your system to support you with that. Enjoy the associated success.