In commercial real estate brokerage, it is easy to get diverted and distracted. Each day is a new ‘playing field’ of facts, situations, clients, and properties. Everyone wants some of your time, and that can be a real challenge to work through. It is so easy to do what other people request of you. At that point, you are likely to be taken away from the things that matter.
Your ‘mastery’ as an agent, and your success will be in your ability to stay on task and aligned to your real estate career or local area business. The ‘random’ approach to real estate does not work.
Your Services and Solutions
Let us face the facts. You will likely have an aptitude and capacity in real estate marketing and negotiating. You have a set of skills in property brokerage that your clients and prospects will find valuable at some stage, particularly when they want to buy, sell, or lease commercial property. Finding those people at the right time in property ownership or occupancy so that you can do business for them is the key to brokerage success.
As an agent, you should be ‘forward-looking’ so you can plan your connections and prospecting processes with the right people in the right way. That is where strategies and systems become more critical as you look for property change and opportunity. ‘Top Agents’ have ‘systems’ as do the agents that are emerging as ‘successful’ in their location. What are your ‘systems’ like? Can you improve them?
Are You The ‘Specialist’ Locally?
Consider yourself as a ‘specialist’ in a property type and location. There are no ‘short-cuts’ in commercial real estate brokerage. There are people and property situations to find, and that takes some highly organized prospecting processes. If you are not ‘thriving’ in your real estate business now, take an in-depth and direct look at your prospecting activity, and its momentum.
Here are some ideas to help you’ kick start’ your real estate business or get back on track in ‘boosting’ your real estate business.
- Split up your territory – when you ‘break down’ your allocated area or zone, you will be able to see things in property ownership and occupancy. Street by street that process will help you find property situations to work on and with.
- Identify target buildings – go for a walk in your territory every day and take your business cards to hand out. As simple as that seems, many opportunities can evolve from a ‘meet and greet’ strategy. Repeat the process every day, and you will soon find the listings you are looking for.
- Research the property people – there are’ key players’ in the local property market that you will want to know. Likely, other agents are already working with those people; however, do not let that stop you. Consider the ‘key players’ locally, such as business owners, investors, and developers. Go back into the history of the local area, and you will find the real estate transactions where names and identities display themselves for future contact
- Use the local media – the local newspaper is a powerful source of names and situations relating to commerce and business. Every name you read in the media, and particularly the industry and or property pages is worth noting for the potential property interest and or services you offer. Review the papers each evening for names and activity that could be a property person in the future.
- Spread the word and start conversations – get to know the local people and use the telephone and or email for that. Ultimately you want to get ‘face to face’ with property people, and from that point on, you can build a relationship. Conversations lead to opportunities. The question is, ‘How many conversations can you create every day?’ Consider that question in your real estate day and business activities. The answer will be the ‘pathway’ to brokerage growth and new business success.
As simple as these strategies may seem, they are the ‘leverage points’ for agents and brokers in getting a better market share. Build your real estate business around these ideas, and things will start to change for you.