When you look around the real estate market there are many ordinary agents and far fewer top commercial real estate agents. Over time you can easily identify the attributes that make the top agents stand out as professional and successful.
Find Listing Opportunities
There are many opportunities to be had when it comes to listings and commissions in your local area. Both of those issues come from the client relationships that you establish over time. Start your client contact process as early as possible in your career. Build your system to establish the right market share and ongoing client contact.
It is tempting to work on current deals and overlook the new business systems and prospecting focus that we require. Decide to do the productive things in your business every day. That means connecting with new people.
The Main Skills
Here are some of the main attributes that apply to the top agents in the property market today. You can clearly see the strengths and the skills that need to be developed if you are to be a top agent yourself:
- Experience – all of the clients that we work for are looking for the agents with the market share, experience, and the skills relating to the property type. On that basis it is essential that you specialise locally and within a property type. Build your brand and your marketing efforts around those factors. There are unique factors of sales and leasing that apply to industrial, retail, and office property; get to know how you can improve those factors and in doing so offer the specialist skills to the clients and prospects that you serve.
- Training –it doesn’t matter how long you have been in the industry, you will always be learning when it comes to the diversity of property transactions and marketing. Every new listing and every new client will bring to you challenges and special circumstances to be merged into the marketing campaign or the property negotiation. Ongoing training will help you build your skills. The training should be ongoing and practice is always required so you can improve the most important skills for the property market today.
- Performance Plan – every top agent will have a performance plan to work to and monitor. The factors to be assessed in the plan will include market share, listing conversions, commissions converted, and database growth.
- Territory Plan – the territory plan is a bit different than the performance plan. In your territory you can define the boundaries of the area that you will focus your efforts within. When you have a location to work in you can split the area up into streets and property types; from that point onwards it is a matter of talking to people that occupy or own properties in the zone. Get to know what they are doing and where they are headed with property issues.
- Referral opportunities – ongoing contact with the right people will help you build a pipeline of referrals from the clients and the prospects that you know. Ask the right questions at the right time to attract referrals and leads to others looking for property help.
- Negotiating – there are many phases to a property transaction and negotiation crosses over all of them. From the very first listing or presentation that you make, negotiation will be part of the process, so be prepared to ‘haggle’ to get the best outcome for your services and skills offered. Refine your negotiation skills through practice.
- Motivation – top agents and brokers are very motivated most of the time (sure they do have bad days occasionally). Each day they are taking steps forward in growth of market share and the listings that they have. To achieve that they must do difficult things and keep up the momentum. That is why motivation is so important.
- Exclusive listings – on a final note here I will say that exclusive listings should be a priority in your business and marketing activities. These exclusive listings will help you control your market, the clients, and the competition. Practice your presentations and listing pitch to convert more exclusive listings where ever possible.
Looking at all of these things, you can see that they are indeed so important to the performance and results achieved by a good real estate agent.