Selling Systems in Commercial Real Estate Brokerage
Every agent in commercial real estate should have a ‘selling system’ that works for them given their location and market conditions.
This systematic approach helps drive better listings and deals. It gives a pipeline of opportunity to act on.
One of the biggest and most common problems with agents and brokers is that they do not develop a personal selling system or at best they then neglect the process and it stops. They then struggle with listings and commissions.
If you want to rise to the top of your market you should give thought to your selling system now and how it supports your growth of listings and clients. Can it be better? What would you like from a system over time?
Set your targets with your personal marketing systems so you know what you are looking for and why that is. You can then set out on establishing it with the right tools and activities.
How to Establish Your Growth Plan
Here are some tips to help you establish a growth system for your real estate business:
- Control your day and the actions that occur in it. You cannot establish a prospecting and market share system without controls on your time and efforts. Protect your time and focus your efforts on the things that can help you with personal growth.
- Understand your market so you can tap into the segments that are likely to have activity and attraction to the marketplace of buyers and tenants. Research the people that you will need to talk to and understand just why they should listen to you.
- Develop a call contact dialogue to support cold calls. The same can be said for a ‘meet and greet’ strategy. Practice your ‘elevator pitch’ so it can be used conveniently when you reach the right people.
- You will need to prospect every day. That will take 2 or 3 hours so you will need to set aside the time for that. Make the window of time a habit so it is fixed in your diary.
- The most important object of connecting with new people in commercial real estate is to create meetings. Relationships built over time will help you grow your listing leads.
- Constant contact with relevant people will eventually allow you to grow your meeting conversions. When you are reaching out to people that you have spoken to before, do so on the basis of at least once every 90 days. The frequency should be shortened when you know that the prospect is going to be active soon.
From all of these things, you can build a database. It is the database that will allow you to strengthen your client list and grow your market.
Commercial real estate brokerage success is built on relationships. Establish more relationships.
