Given that the commercial property market is forever changing, set aside a couple of hours each week to brainstorm new prospecting activities and market segments. If you track and measure the results you are achieving locally, you will soon see the things that are working for you in attracting new business.
The brainstorming process will allow you to do all of the following:
- Identify the best clients to work with from a new business perspective
- understand what property buyers and tenants are looking for
- adjust your prospecting processes and activities within property precincts
- focus directly on a property type in a location for better results
- refine and improve your marketing systems to attract better levels of enquiry
- track your momentum when it comes to listings, commissions, market share, then time on market
All of these things will help you greatly when it comes to growing your market share as a commercial real estate agent or broker. The property market is forever changing so it is wise to track and measure your activities on a weekly basis. When you track your results you can see where you are improving and therefore compound your levels of success. Ask yourself the following questions:
- How can you improve your market penetration when it comes to quality listings?
- How can you improve and shorten the time on market for both clients and yourself?
- What are the best factors of attraction that are creating the higher levels of enquiry today?
- What can you do to practice and improve your skills when it comes to property presentations, listings, inspections, and marketing?
- What are the other agents and brokers doing locally and successfully? Can you replicate those processes or improve them personally?
- What are the factors of relevance in today’s market that will attract more clients to you? How can you merge those factors into your marketing efforts?
If you take the time each week to drill down on these questions at a personal level, you will soon see how you can attract more clients and convert more listings. The commercial real estate industry is not overly complicated but it is quite specific in what you need to know and what you do every day. When you track and measure your activities, you can brainstorm the modifications and the results that will take you forward. Your central focus should be to identify new people to talk to in a regular an ongoing way. Professionalism and confidence can help you grow your market share when you establish the right marketing and contacts systems to support you.