In commercial real estate agent sales, you should set performance standards for yourself. Every day you should be striving to achieve those standards and benchmarks.
I will say that there is a right and a wrong way to go about this. Far too many salespeople set targets and standards that are more of a ‘wish list’ and quite difficult to achieve. Whilst they may get them done for a few days, they will find that the process is daunting and difficult to handle each and every day. They set themselves up for failure due to unrealistic targets and systems.
Commercial Real Estate Brokerage Changes
Let’s face facts; things change on a daily basis in our industry. We have to be ready for the changes and demands on our time. For this reason, you can and should set targets and standards that are achievable in realistic terms. When you get results from your regular actions, you start to see that things are coming together and you will lift your game ever so slightly but effectively. Effectiveness is really important in our industry.
So the message here is to start to build on system and momentum. Over time the small achievements will help you grow and improve personally. The important common thread in all this is that you must do the same things every day. In this way, you will form a habit and the habit can replace some of those poor habits that you have been letting slip into your real estate career.
How to Set Your Performance Standards
So what could the performance standards be for you now and in the coming year? They should be set on a results focus. What is it that really matters to you in your career right now? Usually, it is a mixture of the following:
- A larger database that is up to date and growing
- More listings of better quality
- A growth of clients and property investors
- Better market share in comparison to your competitors
- More vendor paid advertising
- A greater number of exclusive listings versus open listings
- A greater ratio of converted listings to sales and leases
- A better commission result for you and your agency
- A greater number of referrals coming back to you from your clients
Taking all of these things on board, you can see a common thread that says they all emanate from new listing stock. On a personal basis, you should look to improve and grow your quality listings. When you do that, you will see all of the other factors improve and grow.
Set your performance standards on the things that matter most and that can give you a better career and commissions. Prospecting sounds like a good idea to put into your daily performance standards.