To help you get some traction in brokerage, I have created these forms for your access and use.
They are in PDF format and are very relevant for Sales, Leasing, and Property Management. Here are the forms:
Top Agents Stay on Task
If you want to achieve better results in commercial real estate brokerage, then some creative systems are required at a personal level. While you may work for a certain brokerage in your town or city, most of the results that you achieve will be through direct action and personal marketing. Don’t wait for the clients and listings to come to you; go out and find them. (NB – you can get more free commercial real estate career tips here)
Every broker or agent needs a plan of self-promotion and market coverage. So, there are several choices here to consider. Direct coverage and personal action will always produce faster results.
Good Agents Don’t Divert
Don’t allow yourself to be diverted by other people and their requests; control at least 40% to 50% of your day and focus that time on the core issues that you know will help you improve commissions and listings. Here are some specific tools and strategies to help you do that:
- Start your database early in your career – review the software solutions offered to you and then make a choice as to which database program you will be using. When you have made that decision, review the program comprehensively so you can use all the available technology to the fullest of its capability. Get active with emails, direct letters, and cold calling. Log all your results in your database. Every day, use the software to contact new people and existing contacts.
- Use cloud-based technology – all your data, client records, listing information, marketing tools, and information, and special business systems should be in the ‘cloud.’ In that way, you can call on important documents or presentations when you are ‘in the field’ talking to clients or prospects. Integrate your cell phone, tablet computers, and laptops into the ‘cloud access,’ so that everything is quickly available when you want it. Understand how to use that technology quickly and effectively when situations require.
- Define an ideal client – set some targets as to who or what a client will be in value, location, and property type. When you set those rules, you can go out into the local area and talk to targeted people that have the right criteria to match your plan. Don’t waste your time with ‘low-value people,’ be they business owners or tenants. Protect your time and your focus.
- Define an ideal transaction – set some rules on the types of transactions that you want to get involved. There is just as much work in a large property transaction as there is in a small one. It stands to reason that the lower commission returns from a smaller transaction are a waste of your time. Only do a small transaction if it is quick and easy; perhaps the client that you serve is an owner of multiple properties. Analyze things on that basis.
- Building specific – some buildings in a location or precinct are high value and active from a tenant or business perspective. Find those buildings through local area research, and then get to the facts of occupancy and ownership. Ask the questions to get deeper into property churn and change with those buildings. Position yourself through direct personal marketing to be ‘top of mind’ with those selected businesses and building owners.
- Business specific – some business types are actively looking for property change, expansion, or contraction. You can help with all those things, but the only way you will find the ‘churn’ is to call on all the local businesses in your territory on a regular basis. You cannot delegate the process to others or ‘call center’ people, as they are not ‘market ‘ Get involved in your prospecting locally; create conversations and ask questions. There is no other way to do things.
- Street and location coverage – set some boundaries to your real estate business. Define the suburbs, property types, and streets where you should be dedicating most of your focus. In that way, you can go deeper into prices, rents, results, comparable properties, and buildings. Top agents are very specific in what they do and how they focus.
- Size of transaction – small transactions are time wasting with levels of inquiry and inspection frequency, so you must set some rules on the typical transaction that you will get involved. When you know the ideal transaction size, then you can focus your time into it.
In closing on these points, it is worth remembering that individually, we are all completely responsible for the results that we achieve in commercial real estate. Be versatile, driven, professional, and active in your local area.
Planning for Agent Progress
Set your plan and then get it moving; the new business will not appear to anyone through ‘average activity.’ Luck has nothing to do with progress as a broker or agent. Don’t wait for the next ‘peak in the property market’; that could be years away. Don’t let the ‘games’ and ‘pressures’ of others distract your day. The rewards are always there for those people that take deliberate steps forward every day in their business.
What’s the message? Plan your approach to your real estate market, given all the items mentioned above, and then set about making it happen. The personal rewards are many for those that understand their ‘business formula’ and focus on progressing it. ‘Own’ your business formula, and make it a part of your professional activities every day.
Brokerage Forms and Templates for You
Here again, are the forms: