If you have chosen to work in commercial real estate sales and leasing, then you will soon know that there is an enormous potential for improving personal earnings and commission growth over time. Strategies, systems, property knowledge and personal commitment are all elements of the equation for each agent and broker. (NB – you can get plenty of earnings tips in commercial real estate brokerage in our Snapshot course right here – its free)
The top agents of the industry all have specific systems and personal processes to work towards and within. If you are struggling in the industry now, look specifically at your personal activities and work disciplines deployed. The agents that struggle with listings and commissions are usually those that fail to take the required personal steps in business growth and prospecting. There are no shortcuts to success in commercial real estate brokerage.
The agents that struggle with listings and commissions are usually those that fail to take the required personal steps in business growth and prospecting. There are no shortcuts to success in commercial real estate brokerage.
Professional and Personal
The brokerage or the real estate business that you work for will have little to do with your market share and commission results. Your momentum and growth in the industry will in the main be personally orientated and generated. Develop your prospecting, negotiating, and listing skills at a personal level; choose to be better than any of your competitors within the location and build your skills accordingly. Stand out as the agent of choice for the location and within the property type. Establish your branding and business profile focus for the ongoing term.
Growing a Brokerage Business
There’s little point in working as a broker or an agent unless you have the required personal commitment to grow your business skills, client list, and knowledge within the job. Throughout the year, there are many things that you can do and learn from within commercial real estate, such as:
- Other competing local agents working the market and the property types
- The variety of market activities and challenges
- Marketing strategies used by others locally
- Other successfully closed sales and leasing transactions
- Inspections with qualified parties
- Property presentations and listing strategies
- The type and the levels of enquiry within your location
Given these things, you can learn so much from the location, your competitors, the property types, the people, and the activities within the market currently.
Watch the trends and shifts in the property market, and move your client focus between business proprietors, property investors, tenants, franchise groups, and developers. Each year, there will be plenty of changes to enquiry, activity and trending within the local commercial property market; identify and work with those changes.
Be prepared to change as required. Watch the market indicators. You can adjust your real estate business and prospecting activities to the trends of the local economy, the people, the businesses, and the types of enquiry. The feedback that you are getting right now from the market can be valuable in building your commercial real estate business and your market share.
Get Started and Broker Focused
Without any doubt, there is an enormous earnings potential for all agents and brokers working in commercial real estate brokerage. To tap into that earnings potential, refine your strategy, systems, and property knowledge to build your business over time. Personal effort will help you get there. Grow your database and your market share through a personal marketing program that you can implement and activate every day with new people and new businesses.