Do you know an agent that is struggling with finding quality listings and growing commissions? Perhaps even both of those things? It’s an all too common problem.
There are lots of agents with those issues in any market and it is simply because they have a very poor personal network. They have failed to establish a powerful network of prospects and contacts that they know personally and directly. They then must rely on the agency to bring in the new business and the leads. The ‘peaks and valleys’ of seasonal sales and leasing activity then takes over and the agent is living an extreme business life and career between ‘good times and bad times’. The ‘stresses’ can be huge.
So here is the good news; there are some real ways to fix the problem! You can develop the solutions yourself. To succeed in this property industry on a personal basis, a strong solid network of contacts will be required and that group should be growing on a weekly basis.
To use the analogy here, it is a bit like ‘seeding, fertilizing, farming, and harvesting’. It all takes time. Plant the right ‘seeds’ and over time you can grow the ‘harvest’. Notice that there are a few things to do between the two issues? That is what ‘networking’ is all about. Networking becomes the ‘fertilizing and farming’ stage of the equation. Without it the ‘harvest’ is poor.
A Good Question
I have heard many agents new to the industry ask the question, ‘How do I easily find and talk to more of the Sellers, Buyers, and Landlords?’ They are looking for some short cut in the process where ‘all the fish jump in the boat’. If only life was that easy; there would be many more successful agents out there!
The fact of the matter is that there is no ‘easy’ process, and only a diligent and personal networking system will take you forward to being a top agent. Every day you should do certain prospecting things and build your personal contact base. Over time you can rise up in the market above the competition.
So who do you include in your network? Try these for starters:
- Property Investors in the local area as well as from outside the region
- Tenants in occupation in quality properties today
- Business owners throughout your local sales territory
- Franchise groups that could be looking for new premises and opportunities to expand
- Accountants and solicitors that support property owners and investors
- Owner occupiers with good quality local properties.
- Property developers
- Financiers of commercial and retail property
So what do you do with these people? You approach them to build a relationship; expect that relationship to take time to establish but stay in there for the long haul. Expand your circle of influence. That’s what this industry is all about; strong and relevant relationships.