When you work in commercial real estate it pays to set some rules when it comes to personal focus and daily action. Without some form of control and focus, the day will get away from you and you will struggle with the momentum and the market share that you require. The property market is challenging enough without you being your worst enemy to progress! (NB – you can get plenty of career tips in commercial real estate here in Snapshot – its free)
Throughout the year the property market changes in many different ways, but your prospecting and business model should remain consistent in action and implementation.
Connecting with the right people will help you greatly to build your local market share. When this is done correctly, listings and commissions are easily obtained in any business or economic cycle. It’s a people based business and that’s a fact we tend to forget!
Its all about you not your broker employer
The agency that you work for is only a small part of the business equation. Most business opportunities will come from personal effort and prospecting.
So the important key to your progress in the industry is to have a plan and all the supporting tools to capture the market. Here are some ideas to help you.
- Set some rules to your working day and business activities. As a priority, you should be prospecting every day, regardless of just how long you have been in the industry.
- Understand who your client is and where you can find them. When you do this is becomes part of your prospecting model
- Know what you are a specialist at and have some solid ways to sell that relevance. It is very hard to know everything in the industry. When you specialize in a property type the whole thing gets a lot easier, and you can build your brand as an expert in your market.
- Keep a database of all your contacts. If you do not have something like that now, use the Google contacts in Gmail. It’s all free and it’s backed up on the web. You can access it anywhere from any computer. Whilst you are there in your Google account, set up a Google documents file service so you can load and access your important documents across the web. This is very handy when you are in a meeting with a prospect or client.
- Build long term relationships from the very start of contact with new people. Create some tools of contact such as email headers, brochures, business cards, and property updates that you can leave with people as you progress in your prospecting model.
On average, it takes about 3 or 4 contacts with a particular person before you can get a meeting. Most agents will give up after the 2nd attempt. That is a remarkable opportunity for those that have the focus and diligence to make things happen.