Most agents want to grow their real estate business but putting some strategy around that is essential. Unfortunately, that strategy is not always achieved with the proper focus. Certain things that are done every day will improve listing potential. The random approach to real estate never works.
It is time to think about strategy and action and how that could impact your real estate business. If you are focusing on a growth challenge in your real estate career, then the ideas here are likely to help you.
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Key Questions in Brokerage Growth
To get things started, it is essential to ask several simple questions for yourself. Start with these:
- What types of property clients do you want to attract?
- Why would a property owner or client use your services?
- What can you do in your property marketing activities that can make your services attractive?
- What types of property transactions would you want to be a specialist in?
When you get some answers to these questions in your real estate location, you can focus on the local area to find your real estate business. Clarity is essential because you can put some strategy into the things you do with people, properties, and precincts.
They are the ‘three P’s’ of the real estate business that can set your momentum firmly on targets with listing growth and more clients. Talking to the right people by location and property type will take your real estate business to the next level. Your real estate actions can be built around that.
The random approach in commercial real estate does not work, nor should it. To stand out as the ‘agent of choice’, there are some steps to take if you want your real estate business to multiply. Diligence and consistency are the key components to put into your real estate efforts.
Setting Your Brokerage System in Place
From the earlier questions, the answers you achieved will help you with decisions and directions. Most notably, you will know the shape and type of real estate business you want.
So, here are some ideas below to help you grow your real estate business in a planned and direct way.
- Coverage of a Precinct – This is the organized approach to an allocated territory considering the types of clients targeted and the number of properties in the zone. Every property zone and allocation is different for each agent. The same can be said for your town or city. First, decide what properties are to be your ‘primary’ source of income and where you can find them in your territory or zones. You may need to break down your larger region into smaller zones. When you do that, you can control your real estate approach and watch the results that you are getting.
- Communication and Conversations – How will you be connecting with your market and the people within it? The question has several answers, and some agents will have different approaches or ideas on that. The methods of agent communication will possibly involve calls, emails, door knocking businesses, and direct mail. The secret to successful communications in commercial real estate should include frequency and consistency. In other words, how will you make lots of approaches to the right people? How can you keep that process active and growing? Talking to a lot of people in brokerage is the basis of real estate success.
- Relevance and Consistency – When you are approaching people about property requirements, the key to your success involves your service significance to others. In other words, why would someone listen to you or use your services? Many agents in most real estate markets set a path to being ‘special’ and different in what they can offer people with their property needs. Clarity will help you with positive real estate conversations and outcomes; it also gives you plenty to talk about. Ultimately you are trying to find motivated people or those that can be motivated in the future to use you in property services.
Take these three factors above and set them into your commercial real estate diary and agent activities every day and week. The ways you can establish these strategies in your business actions will help you grow your real estate business quickly.