city buildings in Hong Kong

There are many people that you can and should connect within commercial real estate brokerage.  Importantly, all brokers and agents should have a systematic plan of contact that covers the market and the correct people within it.

 

Regular contact with the right people in any town or city will produce the listing and new business opportunities; that is the basic rule that has been proven through the years.

real estate prospecting system
Commercial Real Estate prospecting system

 

The Best Contact Model is Simple

 

So how can you build a contact model that can drive your business forward?  Try some of these simple ideas for starters:

 

  1. Friends and acquaintances are a good place to start. Review all the people that you know now, and particularly those that could have an interest in property investment and or local businesses.  Create connections and conversations with the people that you know now.  Encourage referral business and leads from those people that already know you well
  2. Persons of influence exist in many industries and locations. Look into your precinct at the buildings and the businesses.  There will be people of control that you can connect with in those local businesses and buildings.  There will be people in ‘regional control’ or those with ‘regional awareness’ such as politicians, those in charge of community groups, and government public servants.  Connect with the people in control locally.
  3. Concentrate on the major industry segments for property activity and requirements. Certain business types will have needs for property change or churn.  Look at the ‘successful’ businesses, and those that could be ‘struggling’.  Either way, property movement pressures will be underway in many situations.
  4. Talk to local business owners about the other businesses in their street and or building. Local proximity to other businesses will highlight indicators of change; create the conversations with others to talk about what is happening in the street and or suburb.
  5. Telephone conversations created by cold calling the local business telephone book are a valuable way to cover a lot of businesses conveniently. There is only one question to ask.  ‘Can you be of any help with property investment, or locational needs for the business owner?’   Whilst the answer will generally be ‘No thanks’, it is remarkable how often that question then opens up into a property related conversation.  It is the conversation that you should aim for; the conversation will allow information to be shared.  Don’t worry if you have lots of ‘no’ answers; the advantages evolve from the regular process of contact and tracking the calls that you are making.  How many businesses are in the local telephone book?  Probably several thousand.  What a great place to start your real estate prospecting model.  A contact system is important to progress.  Practice your calls and your conversations.

 

Simple contact management strategies like these lead to brokerage opportunity with listings, transactions, and requirements.  Get deeper into your location and the people of the zone.  You will find the opportunities that you are looking for.  Track your progress and all your conversations.