In commercial real estate brokerage, many challenges will exist from time to time for every agent. The challenges commonly ‘show their face’ in prospecting reluctance, poor quality negotiations, low listing conversion rates. Confidence and local market knowledge are keys to the process of breaking through those barriers. You can add to that the individual requirements…
When it comes to running a successful commercial real estate brokerage today you will require a solid Internet presence and a professional web site. It is a sad fact that many brokers have little understanding of the Internet and their website profile. That can then have a dramatic impact on their listings and commissions. There…
Well its Friday and time for another tip and free chart. This week I want to get a bit ‘motivational’ for my friends on-line. Yesterday I was thinking about ‘Rock Stars’ and how similar they are to the top agents in the industry. Top agents are ‘performers’ in many different ways when it comes to…
In commercial real estate today, we negotiate in many different ways in all stages of a transaction. The parties involved in a sale or lease, and within the property types will have a lot to do with the levels and the intensity behind the negotiation. It directly follows that every broker and agent should be…
In commercial real estate brokerage today, it is essential that you have a plan relating to your sales territory and prospecting activities. Every day the plan can be ‘actioned’ and improved. Over time that will give you growth of market share. If you work a very large territory or diverse town or city, the market…
One of the most frustrating issues in commercial real estate brokerage is with staff. The first problem is in finding the right people for your team, and then the second problem is the issue of keeping them for the long term. When you lose a team member for any reason, the costs incurred in replacement…
Every quality listing in commercial real estate is likely to create a good degree of response from buyers or tenants as the case may be. For this reason you should choose the right marketing response mechanisms that can handle the enquiry efficiently and quickly. You should also consider the tracking processes that should apply to…
Quite often today I see a commercial real estate brokers overlooking the value of their database. They forget about contacting the clients and prospects that they have previously connected with. Given that our industry is based on relationships and networking, the client contact process is quite important to growth of market share. There are many…
Every commercial real estate broker or agent should use a direct approach to marketing so they build dominant market share and listing opportunity. To do this you will require marketing distribution plans and systems. Think about how you want to get your message and services to the right people locally. In most cases you should…
It is a fact that prospecting letters really work in commercial real estate brokerage. That being said you do need a plan to the process. As a marketing process, it is not just a matter of sending out letters and hoping that people will call you back. In most cases they won’t call. You have…
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