A career in commercial real estate is a great opportunity for personal success. That being said it is also a challenging career that takes a lot of personal discipline to get the results that you want.
Success in the industry will not be the same from person to person, but you will know what it looks like to you. Ultimately to be a top agent with high levels of achievement, you will need the right attitude, the correct actions, and the business tools to help you get there.
So there are ‘great’ top salespeople or agents in the industry, and there are some ‘not so great’ people. The difference lies in their ability to drive themselves to do the right things every day. This is a very easy thing to say, but a very hard thing to do. Invariably a career in commercial real estate involves a degree of self-improvement and change of habits. You really do need to change your habits if you want to get somewhere in the industry.
Here are some ideas to help you understand exactly what the ‘right things’ are and the habits you can focus on.
- Know your market inside out. That being said you must specialise on a property type and location. You simply cannot know everything that is going on. When you specialise you are of greater value to the clients and prospects that you serve. Your knowledge of the rents, prices, values, listings, and tenants all escalate. The clients that you serve require top service and great market knowledge. Focus on providing that.
- Build your client base every day. It is easy to say, but you must prospect regularly. Our industry is based on relationships more than anything else. The clients and prospects that you serve should trust you before they pass a property need or requirement on to you.
- Improve your personal skills in the industry at every opportunity. That will mean practice on a number of different things in sales, leasing, and property management. Determine the things that are critical to your business, and then understand the ones in that list that are weaknesses for you. It is your greatest weaknesses in core skills that will hold back your success and momentum as a real estate agent.
- Database tools and systems should be developed. Your database will be the main tool that will take you further in the industry and faster. I go back to the point that you should be prospecting every day. This then says that the database that you use should be growing on a regular basis. Use the list of clients and prospects as a foundation for leads and opportunities. Some clients will want to sell, others will want to lease, and property management may be a requirement. Keep in close contact to find the right point of approach. Relevance is really important today.
A great career in commercial real estate is really a matter of choice. It takes a lot of personal effort, but the rewards are large. Know that you hold the key to the process. Develop your plan and start taking action.