When you look around your commercial real estate market, it is easy to see the agents that are really attracting the good listings and making the commissions. Remember that those agents started off at the ‘bottom of the market’ just like everyone else. The difference between those ‘top agents’ and everyone else is usually in what they do every day and their consistency in the process.
Consistency is a difficult issue in commercial real estate given that there are so many things to do. That is why planning and process will usually feature in the business model for top agents.
It is important to remember that if those top agents can rise to the top of the market, you can also achieve that result. So how would you define a top agent in your market? Here are some are my thoughts:
- A consistent flow of quality listings
- An abundance of exclusive listings
- A well-structured personal marketing plan
- A database of leads and opportunities
- A solid following of high value clients and customers
- The flow of sales and leasing transactions
- Dominant market share in the territory
- Specialist profile within the market segment locally
In any economy and in any market the top agents are usually quite successful. It is their deliberate choice to be so and they have established a system that works for them. When you start your career in the industry it is easy to be distracted by random and distracting issues. Protect your time and focus on the tasks that really matter to your business.
Here are some ideas to help you with attracting new business and improving your commission opportunities:
- Look at the history of property activity in your location. The history will give you valuable insight into property ownership records and key people within the industry. Look for the Property Investors with a number of properties; also look at how those Property Investors lease, dispose of, and acquire prime property assets.
- Determine the factors of expansion and change and that will bring you opportunity with listings. Those factors will usually include changes to property use, the zoning changes, vacant land, redevelopment opportunities, localised Property Investors, and high quality buildings.
- In an organised way research the property ownership records on a street by street basis. There will be many opportunities to be taken when it comes to relocating tenants, improving property performance, finding new tenants, locating new buildings, and resolving property redundancy issues.
As simple as these things may seem, the process is quite detailed and extensive research is required. That is how personal process and systems become a critical component of top agent performance today.