The Hard Cold Facts of Commercial Real Estate Agency Today

The commercial real estate industry offers significant opportunity for salespeople that are committed and dedicated to the process of client contact.  Building a database of clients and prospects is perhaps the most important thing that you do each and every day.

It should be said that clients and prospects will not stay with you if they believe you cannot offer the skill, experience, and knowledge that they need.  However, I go back to the point that you need a good database of contacts and prospects to build your commercial real estate career.

The Facts to Understand

So here are some hard and cold facts that relate to the industry, the work that we do, and the opportunities that are available.

  1. FINDING THE BUSINESS: Prospecting is the number one activity that you should put in your diary every day.  It is a personal process, and it is something that should not be avoided.  That being said, many agents and salespeople struggle to develop a prospecting system.  Start the process, and improve on it each day.  After about three or four weeks, you will see a system that is being strengthened through your activities.
  2. WHO DO YOU KNOW?: Ongoing contact with clients and prospects should be encouraged.  It has been proven that a contact system of reaching out to the same people at least once every 90 days will produce more meetings and eventually some business for you.  It may take you three or four approaches to the same people before you will get a meeting.
  3. BEAT THE COMPETITION: There are plenty of competing agents in the market who will take the business from you at the first opportunity.  This then says that you should maintain productive and professional client relationships at all times.  Don’t give the competition any chance of reaching out to your clients.
  4. GET YOUR ONLINE MARKETING SORTED: The traditional method of marketing and networking still applies today, however we have online technology, websites, and social media to add to the overall client contact process.  The best salespeople merge all of these processes together in a contact system that is relevant to the local area and the clients.
  5. LEARN AND KEEP LEARNING: The properties that we work on are of high value and at times extremely complex.  We need to have the experience and the knowledge to transact the necessary contracts or leases as the case may be.  It doesn’t matter how long you been in the industry, you will always be learning more about unique and special situations.  Be prepared to learn and grow with the industry.
  6. QUALITY REALLY MATTERS: Good commissions are paid for successful transactions.  Protect your commissions and client base by providing exceptional professional service, and transaction control.  If any doubts or questions arise with any transaction, stop the process and get the answers first before you proceed.

It has been said that the best salespeople have a solid foundation in leasing experience; I agree.  When you understand the leasing process, you understand the property, the client, and property performance.  This makes it a lot easier when the time comes to sell the asset.

You can get more career tips about the important parts of commercial real estate brokerage in our eCourse Snapshot right here.

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