As real estate agents and brokers we sometimes overly complicate things and then frustrate the flow of new business or commissions. That is certainly is the case when it comes to prospecting, negotiating, and marketing. These 3 core skills don’t need to be complicated; they should be simplified and structured for the individual agent. That’s how you can get them done every day.
Here are some rules to help you achieve simplicity in your commercial real estate career:
- Start your day with an organised and yet basic plan. Don’t cram too much into the day; you can control 1/3 rd of your day and the rest can be open to the pressures of the moment or the clients that you serve.
- Commence the day with the things that can drive more new business your way. They will usually be prospecting and also marketing. Fit those 2 things into the first 3 hours of each working morning. Don’t let meetings or office work divert you from that process.
- Split your listings and clients into activities or priorities ‘A’, ‘B’, and ‘C’. The ‘A’ and ‘B’ listing issues and contacts should get and be given a timely response from you in that they have the most reasonable chance of a positive result. Any ‘C’ grade listings or activities can wait until and if you have time to respond.
- Practice your core skills daily in Prospecting, Negotiation, and Marketing. The focus on skill improvement will help you improve results and shorten the time on market. In the practice process, devote a reasonable amount of time to ‘dialogue development’ based on the situations in your property market locally. Know how to use ‘open’ and ‘closed’ questions to get to the real facts of a listing or a negotiation.
- Don’t overly complicate your database; keep it very simple so it is easy to load information, and then track leads and opportunities. Break down the categories in the database to a simple list of property requirements that would apply to your property market.
- Sellers, buyers, tenants, and landlords like simplicity and professionalism. Break down the complex property transaction into something they can see and understand. Make the deal and the marketing simple and show the client exactly how you will stay in the process to the very end.
The rules of simplicity apply to the front end of the commercial real estate business, and that is where the client wants to understand how you can help them resolve a property problem quickly and directly. You are the solution provider so make sure your services, presentation and sales pitch err on the side of simplicity.