It is a fact that goals alone will not do much for you in commercial real estate brokerage. Goals won’t produce much momentum with people, properties, and growth of market share. If you are struggling with your real estate business, you can set your goals, but immediately create some action plans and systems to suit.
The best way forward in commercial real estate sales and leasing is from a basis of action; that action is taken to a plan, and that plan is improved over time. There will always be improvements that you can make to your daily action plan; the important thing is that you are acting every day.
Don’t struggle. Get your real estate business happening with some simple focus processes that are building your client list, listing opportunities, and commissions.
So, what is the message here? Look at your daily action plans and determine how they can be improved, expanded, and optimized.
Brokerage Action Planning
Here are some ideas to help you build a brokerage system for yourself using some proven strategies and actions from the industry:
- CLIENTS: Determine what your client types should be so you can focus that profile into your prospecting each day. It is hard to build a prospecting model if you are not clear about your client types and where and or how you can connect with them.
- GET INTO YOUR ZONE: Split your property zones up into precincts. That then makes it easier to investigate the shifts and changes in the location and property ownership. Some precincts are better than others so you can categorise the precincts for priority and logically work through them over time.
- LOCAL BUSINESS PEOPLE: Talk to local business owners each day. From simple conversations and telephone calls, you will find leads and activity that can lead to a meeting with a property decision maker. Business owners know the property owner or investor. You can do something with that information.
- SIMPLE MARKETING: Use your business card as an introduction tool with everyone you meet in the location. You can leave your business card at offices, factories, and retail shops. Travel through your location each day and leave your business card with selected people and business owners. Use your other listings in the area as ‘conversation starters’. Carry boxes of business cards in your motor vehicle so you can drop 25 or so business cards into local businesses each day.
- HISTORIC RECORDS: Look up the property sale records over the last few years. The historic sales in the area will give you names and or properties to focus on ownership investigations. Those people that have purchased land and or investments previously will very likely be the purchasers of the future. Get to know what they own and what they want by way of property and location.
- VACANT LAND AND REDUNDANT BUILDINGS: Land availability should be checked out. A vacant parcel of land today will be a sale and or development in the future. Be prepared to research out the property owners of all vacant land.
- START THE DAY THIS WAY: Make plenty of calls as part of starting your working day. Do not miss out making calls. The telephone is taking over the convenience of prospecting for new clients and leads for new business. Devote about 2 hours per day to direct outbound telephone calls. That strategy alone will turn your real estate business around very quickly.
- USE YOUR LISTINGS: Focus into your listings in all ways possible. It is the case that most agents will overlook or avoid real marketing intensity when it comes to existing listings. When the average agent has a listing, they will promote it generically. That is a big mistake. When you have a listing, work it and use it to create meetings, telephone calls, conversations, and offers.
You can see from these items that a bit of effort will be required if you are to implement commercial real estate brokerage systems. Take these ideas and use them comprehensively in your property market.