The prospecting process in commercial real estate agency is quite specific and yet also simple. The unfortunate fact here is that most agents and brokers don’t get the issue under control, and they struggle ‘big time’ with their market share and commissions.
To build market share and listing opportunity it takes organised effort on the part of each salesperson. In any property market or economic climate there are leads and clients to tap into. Our industry is quite specialised in a number of ways, and on that basis most clients and prospects need the services of a top real estate agent. If they are to get a good price or rent for their property then they require a good agent with experience. Listing and marketing a property is not an experiment; it is a very specific process; if you are the ‘expert’ that others require and can convey that message in a relevant way, the listings will get a lot easier.
The ‘comfort zone’ is a big problem for many agents; they like to do the things that are easy and less confronting. Prospecting is one of those things that will ‘challenge’ many. Setting new prospecting habits and skills in place will help any agent or broker move ahead in their market.
Here are some rules to help you with building the right prospecting actions and systems:
- Practice on a daily basis will help you with conversational dialogue. Every morning when you first arise take some time to talk through your prospecting pitch and cold call dialogue.
- Understand what your prospects want and where you can find them. If you set up a logical geographical zone of prospecting, you can move through the business owners and property investors with order and better conversions.
- Keep things simple as you create more meetings and make more calls. Over time you will find that your call conversions to meetings will escalate as you are improving your skill set.
- Track your call ratios and your meeting outcomes so you can tell when the market is shifting and your business or leads are growing.
- Build some market knowledge around you so the meetings that you create are of value and relevant to the people you connect with.
- The best agents and salespeople will prospect first thing when they reach the office and again at the end of the day. The momentum that they build in growth of contacts is significant.
If you want to rise to the top of your market you will have to establish some rules like these. Over time this will help you build better listings, a good client list, and greater commissions.