If your career is in commercial real estate sales, you really do need to focus on productivity from a personal perspective. That will usually involve results across the key indicators of listings, commissions, client base, and marketing results. Look at your role and your market activities on that basis.
When you focus on productivity at a personal level, you can see what is working and what is not working well. You can make adjustments on a weekly and monthly basis to improve the results you achieve over the entire year.
So the year should also be looked at on the basis of productivity. Know your numbers and know what has to improve. Assess your working week on that basis and look of the things that are bringing in the best results for you; look at the indicators. Productivity is a concept and not just a word. It is something that can be built into the career of every professional commercial real estate agent and broker.
Here are some ideas to help you convert better results in commercial real estate sales:
- Understand your database comprehensively and thoroughly. Go through the database to ensure that you are regularly connecting with the best clients and those that are ready to take the next step in a property transaction. Segment your database into ordinary clients and VIPs. Get to know all of the people in your database. Also segment your database into locations, budgets, property types, and property requirements. Every property transaction and inquiry can be referred through your database before the listing goes to market.
- Every good quality listing that you have on your books will give you plenty of reasons to talk to other people. Take the listing into the local area and talk about it with property owners and business leaders. You will soon understand what people are looking for and thinking about when it comes to local property. You will soon get to know what they’re thinking about when it comes to property choices, change and relocation. Ask plenty of questions around all of the quality listings that you are promoting into the local area. Use of those listings as leverage for another conversation with a prospect, an investor, or business proprietor.
- Watch the results that you are achieving from your marketing campaigns. Some campaigns will be better than others, and you will achieve greater levels of enquiry and inspections from that. Try to determine why one property achieves better results than another; compare the campaigns so that you can identify the differences. Work on the strengths that you can identify from every property and every property listing marketing campaign.
- Ask for the referral business and leads from the clients and contacts that you already know. It is always easier to convert a referral opportunity than a cold contact. As you grow your database, the opportunities for referral business improve and increase over time.
- Help your clients succeed with their property goals and challenges. When you get to know some of your clients comprehensively, you will soon understand what they need to do when it comes to any property change, challenge, or improvements. Focus on helping your clients succeed in commercial property locally, be that from and ownership perspective, investment, or property usage.
So there are some good things here for you to do when it comes to improving your results in commercial real estate investment sales.
If you focus on generating more inquiry over time, every single inquiry can be opened up into a relationship or opportunity for the future. The industry is centred around personal business relationships and ongoing contact. If you haven’t got enough listings, then you probably do not know enough ‘property related’ people. It’s a simple equation to work with.