In the commercial real estate market you can boost your commission and listing opportunities substantially through refining and improving your core skills. There are certain things that will help you convert more clients and properties to your marketing process.
It is interesting to note that many agents believe that the trends and the property market are the big things that put most of the pressure on the business. The reality is quite different; the results that agents achieve are largely driven from personal skills and actions taken. You can boost your results in listings and commissions by refining your core skills and practicing them frequently.
Personal Focus in Commercial Real Estate Today
Our commercial real estate business is not ‘rocket science’, but it is unique and it does require focus at a personal level. Results come to those agents that can do the right things every day and keep the process moving ahead. Distractions and diversions cannot stop or change the focus of a top agent.
Recently I was running a workshop in Sydney (Australia) with a group of 25 or so professional CBD agents. Some of those agents in the group were more successful than others. It could be said that 2 of the agents were really high on the ‘results’ chart when it came to quality listings and continual commissions. Those 2 agents were earning double and in some cases triple the commission income of the others in the room. It was worth examining the differences in activities of those people in the room.
In part of that workshop we ‘brainstormed’ the important skills of a top agent in today’s market. Whilst I already had a list which I believed was indicative of the topic, a few other concepts evolved from the conversation with the team. Here are 3 of the most important skills we discussed in the workshop:
- Sourcing Opportunities – A good agent has to find plenty of new business in an ongoing way. Most new listings and clients will come from personal effort and nothing else. The broker that you work for has only a small degree of value to the new business equation. So we were saying here that a top agent has to develop a new business system and prospecting process that they can implement every day.
- Presenting and Pitching – Most listing opportunities are highly competitive, with a few other real estate agents chasing the same property and client. This says that you will only have a short time to win the attention and interest of the client in any sales pitch. Relevance is a very special part of your listing presentation and pitch. Tell your story and sell your skills comprehensively to the client. Show them exactly how important you are to the property marketing process and most particularly their property. Give them a strategy and a timeline that gives stability to your recommendations.
- Marketing – Every property is different as will be the requirements of the client in getting their property sold or leased. The marketing process that you recommend should be very specific in all respects and supported by a requirement for an exclusive listing. Vendor paid marketing funds are also required to promote a property comprehensively but that is just the start of the process. Ask for an exclusive listing and design a marketing process that is very special to the time frames and focus points that the client has today. Show the client that you really understand their challenge and that your marketing solution is far superior to every other agent that may be pitching on the listing.
So what is the message here? Top agents are very professional in so many ways. They stand ‘head and shoulders’ above other agents because they focus on the client, the property, and the solutions offered.