In commercial real estate brokerage, ‘struggle’ is common but unnecessary. You can get on top of your real estate business through using some specific systems of contact and improving your skills in doing that. It all comes down to personal effort and habits.
Who needs you?
There are many clients in the property market that need help. There are lots of random agents that do not do a good job for their clients in selling and or leasing. So the equation is easy to resolve. Sure, some things will not sell or lease easily, but you can do a great job in the process of trying; that’s how clients stick with you.
I want to emphasize a point here before I go too far. If you want to do a great job for your clients then you must control the listing stock and that means ‘exclusivity’. If you can’t convert exclusive listings easily, then you must lift your listing and presentation skills to resolve that.
The best agents and brokers with the top skills will convert listings exclusively most of the time; that is simply because the clients out there need the best results and the agent has positioned themselves accordingly. Why would any agent or broker spend significant time on an ‘open listing’? Perhaps ‘luck’ might help something sell or lease, but you cannot base your real estate business on ‘luck’.
Here are some ways of approaching your property market and client base that can help ‘stop the struggle’ in commercial real estate brokerage:
- Control your diary in all respects – Many people will interact with you each day. They will want a segment of your time. Your choices are whether you should give them time and when that will be done.
- Prime contact time – Most struggling agents do not talk to enough new people in the market in a regular and ongoing way. Set the same 3 hour time frame in your diary each day to talk to new people and prospects. The best time to do that is in the morning first up before other things happen.
- Be personal in your marketing – People do business with other people; that is the people that they like and trust. Most of the new business that you create will be by direct contact and relationship establishment.
- Focus on quality – Prospecting is important, but you should add a degree of quality to the process. Concentrate on the quality buildings and clients in the local area. Find those quality groups and zones of activity. Directly prospect into the segments and groups. Help people understand that you are a good solution to any property problem.
Stop the struggle in commercial real estate by establishing your personal systems and action plans. Get back involved with your property owners, business leaders, and investors. Talk to those people every day and you will find the new business that you require.