Business Building Ideas in Commercial Real Estate

Many new agents starting up in commercial real estate find it hard to grasp the idea of just who to connect with as part of growing and building their database and client list.  It’s a simple question, and the answer is essential to your brokerage progress. 

You can take the ‘fast track’ or the ‘slow road’ to building your real estate business.  Setting some real estate rules and some systems in place personally will help you make your real estate business stronger and creating it faster.

How to Minimize Distractions

One fact to know and respect here is that it is relatively easy to lose focus in commercial real estate; you can try to do too many things at once.  You have 10 hours in the business day and generally just five days a week to optimize. 

Use the time that you do have available and do so effectively; do that by planning and sticking to a rigid time focus for at least half of your working day.  In that half-day, you can concentrate on getting to know new people and property situations. 

Talking to new people and asking questions can and probably should be the ‘golden rule’ to business growth in commercial property sales, leasing, and property management.

Model for Creating New Business

In regularly talking to new people, you will create work for yourself, but that is fine and that is a good result anyway.  You need to know plenty of new people to get anywhere over time in the industry.  Three words come together there, and they are:

• People – get to know plenty of people profoundly and directly.  You want them to remember you as the property expert that they may need one day when situations arise.
• Properties – in focusing on the local property precinct and zones, you can see things and situations that require resolve or assistance.  Spend a good deal of your business day in your territory by walking the streets, observing the buildings, investigating businesses in occupancy, and checking out property ownership.
• Personalities – there are many different property characters to work with and plenty of property pressures in each case.  Getting to know the people and their ideas and preferences will help you with ‘engagement’.  Trust only comes through meaningful engagement with the people that own local property and those that would like to. 

Do not forget the issues mentioned here as they are likely to be the keys to helping you get your real estate business started and established faster than in other more random situations.  Do not be a ‘random agent’ in your daily activities. 

How to Stay Focused on Clients

Be direct and active in talking to new people as part of a daily prospecting system that you can work to and stick to for at least 50% of your day.  The rewards identified will help you immensely.

So, where can you start on this?  Growing your real estate business is best based on a local area focus first.  Establish yourself into a territory and a property type and strive to get to know plenty of people within that over some 12 months before you do anything else.