The Most Important Thing in Commercial Real Estate Today

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In commercial real estate, there are many things to think about and action.  It is easy to get distracted and diverted.  Certain things matter more than others, and that should be the basis of your working day.


If you are a broker or agent today, then your ‘action list’ should be very simple and direct.  Every day, a few things should remain in your diary to be done as a priority, while others that are less important can shift around.


The Main Issue for You?

So, what is the one main thing for you and your real estate business?  If you are like most people, it should be one of the following:


  1. Connecting with new people for new business
  2. Servicing your exclusive listings
  3. Marketing your properties comprehensively
  4. Negotiating and closing on transactions


Looking at the list, what would you choose as the most important situation and task to you?  If you value your real estate activities and your long-term prospects in the industry, then your connections with new people should be high on the list.


New people produce the change and churn in your property market.  It takes a good degree of time to talk to the local people about what they need and what they are doing with commercial property.  Make the connections and keep up the daily prospecting activity.



A Trusted Reputation is Critical


A trusted reputation will help your real estate business.  It takes regular ongoing contact to build that ‘trusted reputation’.  It thereby follows that you should have a system of contact that you can sustain over time.  Today we have plenty of marketing and communication tools to do that.  Consider these for starters:


  1. The telephone is still the most effective business tool at our disposal. It is cost effective and convenient.  When you call down all the businesses in your location, the telephone process will give you leads and meeting advantages.  Make it a daily event to talk to plenty of new people.
  2. Meetings and face to face connections are essential to building your brand. Make it a deliberate process of contact to get a couple of meetings per day with new people.  The only way you can achieve those averages is through making plenty of calls. Ratios of contact work very well.
  3. Email communications are useful but are not the most successful mode of marketing. Don’t try to build your real estate business on email only; it won’t work.  You will need to create personal contact and meeting connections regularly to supplement your real estate presence in the market.
  4. Websites and blogs are a good way of building your professional profile. Write regular articles about property and property changes in your location.  Publish those articles on a blog that is designed to support your profile in the market.  Soon the search engines will see your activity and rank you higher within your specializations.


So, all these things take us back to the key question.  What is the most important thing to do every day in your real estate business?   Make sure you know the answer.

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