Procrastination Problems in Commercial Real Estate Brokerage

Procrastination can be a big problem when it comes to a commercial real estate agent or broker building their market share and listing activity.  Every day, difficult things need to be done when it comes to finding listings and new people to serve.  The problem of procrastination can hold you back from the opportunities in your market.

Here are some of the most common ‘procrastination’ problems in the property industry today:

  • Not enough prospecting being done by individual agents and brokers.
  • Putting off the necessary paperwork for the required marketing campaigns and listings.
  • Avoiding the required written inspection reports to clients at the end of the marketing week.
  • Chasing the new deals and listings rather than improving the current ones.
  • Avoiding contact with current clients simply because the market is quiet or the enquiries have been fewer.
  • Not wanting to talk to a client regards their property that is overpriced.
  • Not following through quickly and efficiently with the necessary follow-up calls and telephone messages.
  • Not wanting to talk to a client regards vendor paid marketing and the requirements of obtaining it.
  • Taking on an open listing at the request of the client rather than pushing for an exclusive listing where you can control the enquiry and the stock.

You probably have a few other things that you would like to add to the list.  In commercial real estate agency, the market has to be driven and the deals have to be created.  Procrastination cannot occur as part of that process.  Every day certain things need to be done by the agent regardless of the level of difficulty and the pressures of other things that may be competing for your time.

To beat the procrastination problem, it is wise to understand yourself and the way in which you like to do business.  It is also wise to understand the habits that are frustrating your efforts, or holding you back from better market share and client activity.

There are two big messages here to be understood and respected in this part of the property industry.  Here they are:

  • The habits that you have established in your business activity and personal life to date are likely to have a major impact on your daily focus and attention to detail.  Some of those habits will need to be changed or dropped.  You will also need to develop new skills.  It takes real effort to change personal habits, given that the ‘comfort zone’ will overtake your focus and priorities.  The best agents break through the barriers of poor focus and lack of activity.  They create new habits relative to their marketing and property speciality; they drive better market share in that way.  It can take some weeks if not months to change well entrenched habits.
  • When you look at your average business day and your market share, there are certain things that will need to be done every day if you want to rise to the top of your market.  In most cases, they will centre on prospecting, marketing, and negotiating.  Each of those skills can be personally improved through practice and effort.  Make it part of your daily focus to practice your dialogues accordingly.

You can beat the procrastination problem through deliberate effort and focus.  Everyone will have the challenge, but only a few will rise through the barriers to the top of the market.

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