When you systemize your commercial real estate agency activity, you can produce better quality listings, and faster results when it comes to sales and leasing transactions. In this property market, that is a good thing.
Many agents struggle with the challenges of each working day. Expect that you will be busy and work around the problem. Even the very best of the agents in the market today should be able to control the least 1/3 of their day. That is how you achieve momentum and results from the listings and the clients that you are working with.
So what exactly should you do in this controlled window of time in your working day? You should do the two or three things that can help you take your business forward productively and quickly. In almost all cases, those things will be a mixture of the following:
- Prospecting activities through the local area
- Market awareness and updates
- Client contact
These three things help you stay on top of momentum as it applies to the local area and the property type that you specialize in.
If you look at your job description or specification, you will see a number of things that are quite specific and very important to the outcomes that you require. Here is a list of those things together with the necessary comments to help you understand what I am saying.
- The prospecting systems that you adopt must be relevant and specific to your location. Each and every day that system has to be actioned at the appropriate level so that you are reaching new people to work with. It is a fact that some of our clients will eventually leave the industry or change their requirements for service. On that basis you do need to replace those clients with good people of future need and requirement.
- Presuming that you have got the prospecting process under control, your presentation and sales pitch strategies need to be first class. Most listing opportunities will involve a number of agents at the same time chasing the same listing. This then means that your presentation has to be of the highest quality and uniquely special to the requirements of the client. There is no point in being generic in this property market today; generic by definition doesn’t win listings.
- Proceeding be on the sales pitch process, you will have the listing and inspection process around which you can construct a successful listing and marketing strategy. This then says that you should have checklists for listing, inspections, and marketing. Each of those checklists should take you to a well-considered decision that will tap into the right target market for that property.
- So the marketing effort for the property should be very specific, and not just a generic approach to satisfy the requirements of the client. At the end of it all, you need to remember that your commission will be impacted by your success in marketing. Every exclusively listed property should be specifically marketed in the best possible way to the target segments that you have chosen. Top agents are great marketers.
- At some stage towards the end of the promotional and marketing cycle, you will get to the negotiation phase. In itself, negotiation is quite special in commercial real estate and involves specific knowledge relevant to the market and the available alternatives to solve a need. Make the right choices based on the right information.
All of this says that we can produce specialized services to the local property market that are relevant and real for our clients and prospects. Systemize your commercial real estate business so that each day is a progressive movement towards your top agent status in the local area. That’s what this business is all about.