Prepare for Success in Commercial Real Estate Agency

When you start work in commercial real estate agency, the fact of the matter is that reasonable preparation is required.  Whilst you may work for one of the best brokerages in your town or city, that employer will only have a minor impact on your new business activities.  Success in this industry is largely self-generated.

The best way forward involves the establishment of a system of approach.  Every day certain things should be done to improve your profile and exposure as a top real estate agent.

Here are some points of focus to help you improve your personal real estate business in commercial sales and leasing:

  1. Research the local property market so you know what has been happening over recent years.  Understand the factors of growth in sales and leasing.  Has the property market been active and growing?  Can you reasonably expect that to continue?  How will you get your share of the action?
  2. Most top agents are of specific value to the clients that they serve.  They do that by knowing a local area in great detail, as well as the property type.  They then build a comprehensive database around that information and the people in the market.  Soon clients will come to you because of your market coverage and comprehensive contact processes.  I go back to the point that your database is just so important.  Build it and shape it to the opportunities that are out there.  Fill your database with new people each day.  Bit by bit the information will lead you to the sales and leasing opportunities that can be done.
  3. Look at the future of the local property market by watching the upcoming new property developments.  You can do that through the local planning approvals office.  Each month check out the newer applications under consideration, and then contact the owners of those properties.  A new property project for sale or lease will offer many income and commission opportunities if you position yourself with the right decision makers or property owners.  They are likely to need help with marketing, rental and price information, as well as access to a good database of qualified prospects; I go back to the importance of your database in everything that you do.
  4. Why should someone use your services to sell or lease commercial property?  If you don’t have a very clear and unique answer then you are likely to be like all other agents.   The generic marketing approach really doesn’t work in our industry; specific focus on uniqueness is required.  You must stand out as a top agent for reasons that are well known.  So what are those things?  Only you can determine how to grow your brand around a specific point of focus.  Choose well.

There are many opportunities for commercial real estate agents in most markets and locations.  It just comes down to delving deeper into the facts of property ownership, business activity, and tenant churn.  Look for the changes in the market and you will find them.  That’s where the commissions and listings start.

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