Like it or not, the prospecting process for new clients in commercial real estate is difficult until you understand the rules and start the process correctly.
As real estate agents we come to the issue of new clients and new business sooner or later and have to deal with it at a personal level. To be good at finding new clients you really do need to have a few if not all of these skills under control:
- Personal Motivation to build your system of client contact from the very start
- Tenacity and persistence to keep your client contact system moving to a plan even when it is hard to see results
- Good communication skills to ‘open opportunities up’ with clients and prospects
- Logical database and computer systems that help you track your contacts and leads
- Marketing processes to continue the contact with people in a meaningful and helpful way into the future
- Property specialisation that relates to an area location
The message here is that prospecting and networking for new clients is something that takes personal process and commitment. Results take time to occur; so many agents drop off the prospecting at the first opportunity and for any excuse. That is where they make problems for themselves with few listings and low commissions. If you want to build your real estate business you must stay at prospecting permanently and consistently.
So I call this problem ‘poor market share’ and it is driven by a ‘lack of prospecting processes’. Having worked with many agents over the years I know it is a common problem to come across with some 9 out of 10 agents suffering the consequences. So what (or who) is it that makes prospecting for new clients do hard? We do!
The solution is quite personal and individual. If any of us want to improve our real estate business, listing, and commission opportunities, the solutions are within us all. Good luck; you hold the keys to progress in your career. Start prospecting for new clients with drive and a definite plan. That’s what top agents do all the time.