Commercial real estate brokerage is all about action and process. Over time, both issues can take you forward in your property listing and client activities. To emerge as a market-leading agent, there are some things to think about and work towards personally.
Your location, your town or city, your client categories, and your preferred property types are the basis of focus; everything evolves from that.
Your market share materialises when you take specific steps of real estate action every day and stick to the process through all the challenges, the diversions, and the pressures. One thing to remember here is that the ‘top agents’ of the market reached that ‘pinnacle’ through deliberate effort in an ongoing way.
Real Estate Rules
Some agents think that the real estate business or brokerage they work for is essential to winning new property business. Unfortunately, that is only partly the case. It is only a small factor in the success of commercial real estate agents today. Most of the success that you achieve as an agent will be by taking specific steps forward in your real estate business every day and ensuring that you stick to your plan.
When you focus on yourself in real estate activities, things start to happen. Consistency is a crucial skill to develop in your real estate diary. Professionally approach your real estate prospecting activities as part of a plan and put some consistency into that system or series of steps.
Top Agent Workings
Any new agent can emerge as a top agent in a location over time by working to a system in their business day. Does that sound like something that you can do? Try these ideas for starters:
- Set the base plan for your real estate day and week. You should do certain things every day, regardless of anything else that will be happening. Low priority clients and active transactions can take you away from essential growth items in your real estate business. Do not let that happen. Discipline and consistency must be part of your real estate day.
- Determine your focus market and client types. You can clarify the people to approach and connect with as part of your list building efforts. Some groups of people will be more active than others as your property market shifts and changes. Work the groups of people that you know are active ‘players’ in the property market now and into the future. Then, position yourself firmly into those groups by ongoing direct contact and plenty of canvassing calls.
- Watch the trends in property locally to see what is working and what could be a problem. Essentially there are two groups of people to work with locally in the commercial real estate and property industry. They are the investors and the business owners. Talk to people in these groups each day. Stay organised as you do that, given that you will be making lots of calls.
- Be prepared to work on prospecting activities for 50% of your time each day. The morning is best for that. This is where the disciplines you apply to your real estate business are so important. When you appreciate that strategy and use it in your agent planning and activities, the growth of your business gets a lot easier. Set your working plan in place and fix some time frames at the start of the day for real estate prospecting. Do not change them for any reason. Any other matters of client or listing negotiation can be moved in your diary to the afternoons. Only the most critical of business matters should penetrate your morning diary of activities.
- Inbound emails and telephone calls can disrupt any good disciplines you set for yourself in your diary. An excellent way to handle that is only to check emails and telephone messages after you have completed your morning prospecting routines. Do not let the emails and telephone calls shift your mental focus and mindset.
- Market yourself as a solution provider for your market segments and your client base. There are always people out in the property market that need your help. Finding them is an essential part of your real estate approach. Your conversations and questions about commercial real estate will open the pressures and challenges people may have in commercial real estate today or in the future; that is where list building is an excellent strategy to adopt. Be the solution provider in your location and develop all your marketing materials around that approach.
- Market your listings comprehensively into the target audiences you define. You cannot ‘spread yourself’ too far and across too many property types. Every listing is a good reason to approach new people in a precinct or within a property type. Use your listings to create more real estate related conversations each day. Spend plenty of time talking about your exclusive listings to build your business around that.
Be diligent in your list building efforts. Pick up these ideas and do more with them. They will help you set the foundations of progress so that you can become an agent leader in commercial real estate sales.
Become known as the agent of choice and strive to achieve that ‘mantle’ by deliberate and ongoing personal branding. The above strategies will help you do that.
4 replies on “How New Players Emerge as Leaders in Commercial Real Estate Sales”
Great piece of advice John, I will share this article with my audience on LinkedIn. What strategies can we use for defining our focus market and audience? I really get confused at this step.
Hi Derrick, Thank you for your comments. I think the best way to set your target audience is to look at your city and the business community. Investors and business owners. They are the prime markets. I have noted your website and online portal. Very good and useful for your market. Going deeply into your target markets will turn up a lot of new clients and business. Great website you have there.
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[…] Commercial real estate is all about progress and the actions created around that. So do not swamp your day with low priority ‘stuff’. That ‘stuff’ does not help your real estate business grow. […]