In commercial real estate brokerage today you need to plan your time and focus accordingly on the things that really matter when it comes to new business and commission generation. Any distractions that you let in to your business day and diary of activities will take you away from the most important things in your commercial property business at a personal level.
We all operate in different ways when it comes to business activity in commercial real estate. You will have certain strengths and advantages that will always create opportunity. In a regular ongoing way those strengths that you have at a personal level should be optimised.
Know the pressures
Understand the pressures that you work under and the distractions that occur. Refine your business model so that you can focus down on the most important parts of your business.
Here are some ideas to make you more productive in commercial real estate investment sales:
- Do a full market assessment so that you can understand the actual factors of location that are driving the business. Certain segments of the market will be more active than others. When you look to the future you will see other segments of the market that will offer opportunity and churn. How can you get further into that segment? How can you be the agent of choice when it comes to your clients and their property needs? Tune yourself to the factors of the local property market. Everything you say or do should be matched to the pressures of property change and the opportunities that you see around you.
- Determine a set of clear property priorities that you can work to every day. When you analyse your real estate business, you will soon see that just two or three things will drive most of the business towards you. Prospecting will be first on the list every time. Behind prospecting you will usually have some database activities and an established client list. How can you get into these three elements of property activity in a regular and specific way?
- Look for referrals within your established relationships. If you are providing a high level of professional service to your clients and prospects, it will be quite easy to attract referrals from the people that you know. Ask the referral questions at the right time with the right people. Build your connections and client list through both personal prospecting but also referral generation.
- Help your clients succeed when it comes to local property issues and challenges. Some clients don’t realise how the property market is changing and fail to match their investments and property factors accordingly. You can help with that through regular market updates and targeted property marketing. You can give your clients the information they need when it comes to investment strategies, tenancy mix changes, returns on investment, and capital gain.
So there are plenty of things that you can do here within investment sales and client servicing. Help your clients to get closer to the issues of the location and the investment opportunities that you can see will help them. That is exactly what a top agent does within their client list.