The Biggest Problem in Commercial Real Estate Brokerage

The biggest problem in commercial real estate is usually with ‘people’.  In every direction that you look, ‘people’ will be at the core of the situation.  It can also be said that the greatest advantages in our industry come from ‘people’.

So just how are your relationships going with the people that matter in your territory or patch?  How big is your database?  What can you do to improve your relationships with the key decision makers in your industry?

As a good case in point consider these issues:

• You need great sales people to drive your market share in sales and leasing.
• Clients are required for you to make more listings and commissions.  The same can be said about property management appointments.
• Sustained relationships with clients and prospects will help you grow your referral and repeat business.
• Buyers and Tenants will approach you with enquiries providing you put up the correct marketing plan and contact cycle.

The best agents and brokers are those that choose to get out and amongst the people in the market.  That needs to be a daily process.

So the biggest problem in the market and in the industry can be rectified with a refocus on getting to know enough people in a systematic and logical way.  That is where a prospecting model and database becomes central to the business activities of a good agent or broker.

If you are struggling with your market share or commissions, it is time to look at the ‘people side of the equation’.  Can you do more with it?  Refocus on your people and those clients that are in your market.  Good hunting!