How Simplicity Gets Results in Commercial Real Estate Brokerage
Simplicity is an essential thing in commercial real estate brokerage. It is far too easy to get diverted into things that waste your time. If you are looking to get anywhere in brokerage, start with simple ideas and priority processes. Don’t complicate your business activities. Build your day and working week around that clarity. Simplify your working day.
Simple Brokerage Systems
Only work on the things that you know can grow your market share, transactions, or client base. Pass the administrative things over to others or at the very least move the administrative matters to later in the day away from client and prospect contact time. Your time is so precious in brokerage.
Think about where you want to be at the end of the next 12 months. That will be with commissions, clients, listings, and database size. How are you going to get there? Your choices and your actions in a consistent way will be the recipe for success. Nothing else will do it.
Ways to Connect and Create Business
From all those things mentioned, your real estate business can be built. Those things are linked, and they all evolve from simple business processes. Here are some ideas to help you with that concept:
- Put some realism into your market considerations and focus. Who are your clients by type and location? What are the active segments of property change and churn? From those facts, you can build a simple business contact system, and you can grow that system every day. You can learn from the conversations and meetings that you have. Ask questions and build relationships over time. Connections are important. Focus on the right people and do so in the right way.
- Create clarity with your listing expectations and transaction activity. Do you want to have or create 2 or 3 new listings per week? If that is the case how can you build that pipeline? It is relatively easy to get that number of exclusive listings if you are making plenty of outbound calls each morning before you do anything else in your working day. It is a number process, and conversations with new people matter. Change your business day and your prospecting activities to help you build your business.
- Be honest and open in your client, engagements. Trust is the best foundation of a client relationship that you want to foster. Over time, honesty and a proactive client contact approach will help you with clients and new business conversions.
- Informality is a big thing in business and commercial real estate today. Clients and prospects like to feel comfortable with the people they are about to do business with. Focus on creating an informal and positive client connection. How can you start that? It will take time. Provide local and property-specific information; informally do that as you reconnect with people. Case studies and market updates are an excellent way to do that. Information provided informally can lead to conversations, ongoing meetings and client appointments. Be helpful; that’s the rule.
When you look at all these things, the only other question to consider is just who your clients are by size, type, and location. You can adjust your marketing to make the connections frequently and in a positive way.
