In commercial real estate agency it is easy for you to be ‘swamped’ by issues and problems. There are some very challenging people out there that all have their own agendas when it comes to putting a commercial real estate sale or lease deal together.
The fact of the matter is that we must remember who we act for and what they want done as part of a property transaction. The client has goals and targets; we are the ‘solution’ to bring the deal together for them.
When all is said and done, the client pays the commission for the results that we can achieve. Some of the deals or transactions that we get involved with are very large and complex. Market knowledge and negotiation skills are part of an agents ‘toolbox’. They help you move the transaction forward; they require practice and honing.
When things get really tough it also pays to remember that you have succeeded in the past with some difficult deals and people, and today’s problem property transaction is just another to work on.
The past leaves clues
Remember your successes from the past; it helps you move ahead when all facts seem to be stopping the property sale or lease deal. Talk to the parties and get the complete picture as they see it. When a deal slows or stops, it is usually because we have not fully understood all the facts. Ask more questions of the parties to see what they are thinking and what factors seem non-negotiable to them.
Top agents have a particular mindset that is worth talking about. They seem to keep focused on the things that really matter. They know that the successes come through consistent and focused action. They work through the problems to come out on top of the issue. They keep the people talking so the ‘door of opportunity’ is still open. A property negotiation is a series of steps and discussions; having all of the facts at your fingertips will help you move ahead.
Tips to help you succeed
Here are some tips to help you build momentum in your commercial real estate career.
- Remember your best deals and your toughest deals. They will help you move ahead when all seems lost on a tougher transaction.
- Make one more call to the right people even when they have said that the deal is over. Ask them what would make the transaction work for them. Find out what they are thinking. Keep them talking. Keep them thinking.
- Connect with more people on a daily basis. In every contact and ongoing client relationship there are leads and opportunities. Every client and every prospect will know someone else that has an interest in property. Ask the questions.
- Make more sales calls when things are slow. Action builds the right mindset.
- Get involved with top agents. They have skills that can be replicated.
- Take action each day towards your plan. You are the key to your career.
Good agents have a mindset that is positive and action oriented. They know that over time they can always win as long as they take steps forward every day and improve their skills.