When people enter the commercial real estate industry for the first time, they usually have high aspirations and intentions to build results and market share. All of that is quite good however certain things are still required to move ahead and upward in commercial real estate brokerage; the competition is strong and the challenges of the property market are many. One of the most important skills to develop and help you break through the ‘mundane clutter’ is that of habits. It’s a personal process that will do so much for your business growth if you allow it to ‘take over’.
Well directed habits build agent discipline and direction through the random events and pressures of the business day. There are plenty of things in commercial real estate that will or can derail your focus and priority tasks.
It doesn’t matter whether you specialise in sales, leasing, or property management, the pressures will be there each day with clients, properties, team issues, and documentation. Are you ready for the challenge? I hope so because I can give you now a ‘base plan’ that can help you build your commercial real estate career directly and specifically over a shorter period of time.
Tools and Ideas that You Must Use
Here are some important ideas to help you move ahead faster as an agent or broker:
- Understand the most important issues to you – There will be certain things that you can do personally that will help with growing your client list exponentially. Your client database is highly important and should be at the centre of everything. Each day you can grow that client list by finding and talking to new people. Over a period of weeks, months and years the relationships that you create with prospects and clients in your town or city will help you find new business. Talk to lots of people every day and make that ‘habit number 1’.
- Have some conversational tools to grow your relevance in meetings – When you connect with new people, having something to use in the conversation will help in generating interest and put weight to the conversation. You can have a group of support tools with you to use such as a list of recently sold and or leased properties, and update of property zoning for the area, and an enquiry report showing the issues that most buyers or tenants are looking to satisfy as part of buying or renting a property.
- Look for industry changes – As you review the property activities in your town or city there will be identifiable changes that you can tap into for opportunity. They will typically be zoning changes, businesses needing expansion or contraction, vacant properties, sale and lease back, and new projects. Look for the pressures of change and ask plenty of questions of business owners and property investors. One small piece of information can lead to a new listing, client, or referral.
- Cross over conversations and meetings into issues of sales, leasing, and property management – One thing can lead to another in our industry. Be prepared to move across all three disciplines in your client and prospect conversations. If you don’t know what to ask or how to handle specialist conversations about special segments of the market such as retail or industrial property, then take someone from the brokerage team with you to meet the prospect or client.
From these four things you can easily see why it is so important to put yourself in front of new people every day. That is the big ‘habit’ you should address so you can find new leads, clients and listings faster in our ever increasing competitive commercial real estate brokerage industry.