In commercial real estate, your mind will greatly influence your actions and results. For this reason you really do need to be selective as to who you associate with and what you listen to. Move away from the people that are overly ‘negative’ or ‘full of conflict’.
Have you ever come across other agents that tell you the market is ‘slow’ or ‘dead’? In most cases their observation is not accurate and is a direct reflection on their inability to prospect and network with the right people. Sure the market does change during the year, but there is always opportunity out there to find. You can find all types of new business when you really look. Here are some ideas:
- Landlords that are struggling with vacancies
- Tenants looking to upsize or downsize
- Businesses looking to relocate
- Franchise groups wanting some new locations for start up
- Developers wanting vacant land or redundant properties for redevelopment
- Landlords that don’t know how to lease premises
- Properties that are poorly managed
It takes time to build market share, and so every day you should take lots of small steps in the right direction to find more clients and quality listings. When you look at a list like this you can quickly see all types of variations in new business. It is time to look outside your office and take a walk around your territory or sales patch. Talk to the business owners; they will tell you so much about the local area.
Here are some observations and tips about sales team performance. They have a direct reflection into the activities of a commercial real estate brokerage.
- Directed thinking will help your focus. Don’t let negative actions and thinking impact your market share or listing activities.
- It takes time to build your list of clients. For that reason take small steps every day to meet more new people. The compounding effect in our industry is really important.
- New business and listings are ‘generated’ from personal effort. ‘Luck’ doesn’t have much to do with success as a commercial real estate agent.
- It is critical that you measure your activities every day when it comes to prospecting, meetings, conversations, and conversions. Over time those numbers should improve.
- If you have set goals for yourself, it might be a good time to have another look at them and the system that you use to monitor them. Most goal systems require daily focus and not a monthly review.
Now is a good time to review your actions and thinking in commercial real estate. Shape your day and you shape your new business opportunities.