Entry Level Commercial Agent Property Sales Tips
When you start work as a real estate agent specialising in commercial property sales, it can be a challenge to know where to start. Other salespeople on the team will tell you many confusing things about how to direct your career; some of those agents will be good role models, while others will complicate your efforts and focus.
The best commercial real estate agents build a business from their ‘list’ of contacts and prospects. As a big priority in your business plan, you should focus on getting to know more of the right people from the first day of your job in any new agency. Make prospecting a part of your daily diary.
So many agents don’t focus enough on building their prospect list at the start of their careers. Over time, they struggle to find property listings and create deals.
Real estate Relationships
This real estate industry is based on personal relationships first and foremost. When you know lots of people, you can establish some momentum. So just who do you need to know? Here is a list:
- Business owners
- Property owners
- Franchise groups
- Property developers
- Solicitors
- Accountants
- Financiers
Many agents have asked me how they can find these people. They are looking for some ‘shortcut’ in the process. The reality is that some of the people and groups on the list will be harder to contact than others. The most difficult group to find information on are the property owners. That is because they ‘hide’ behind some company or trust structure involved in property ownership.
Putting the work In
So, hard work is required from the earliest stages of your career in commercial real estate to get to know the right people and maintain contact. Over time, you will know the best way to reach some of those groups, and you will refine your processes so your conversions improve.
To get your database list moving faster, try contacting all the local business owners on a regular basis. Those business owners can tell you so much about the local area and the adjacent businesses; market intelligence like this will greatly help you.
The Right People and The Right Situations
Commercial property sales are really about knowing and connecting with the right people and watching the timing of sale opportunities. Many deals are off-market between a seller and a buyer who a top real estate agent has matched. Constant contact with the right people will help you see the potential relationships that can create a property transaction.
