The Secret to Building Your Commercial Real Estate Brokerage Business

An Agent new to the commercial real estate business once said to me, ‘How do I get more new real estate business?’  The answer for me was quite simple and that is ‘meet more people’.  Opportunity is always available for the Agent or Broker that digs for it.

Someone once said that ‘You can’t sell a secret’.  The statement is very true in commercial real estate brokerage today; you can be the ‘best agent’ in your town or city, but if the market doesn’t know or accept that fact, you may as well change career.  Marketing is a big part of what we do in real estate and is getting even bigger with the factors of the internet and social media.

When you focus on meeting more new people in commercial real estate, you will find the leads and the opportunities that you are looking for.  Many agents struggle simply because they are not reaching out to find those new clients and prospects to serve locally.

So how can you deal with this?  You can create a ‘Meeting Masterplan’ at the centre of your prospecting model.  Create meetings with the right people in a meaningful way; that’s the secret.  Here are some thoughts to help you do that:

  • Give yourself a stretch target of meeting 2 new people per day as a direct result of your prospecting efforts.  You can create those meetings through cold calling, drop-ins, or door knocking local business owners.  Sometimes a combination of all those strategies will work effectively.
  • Relevance and local property market information will give you some leverage in creating more meetings.  Have some form of market update, case study, or statistics to use in the meetings that you create.
  • Do your research so you are connecting with the real players and those that are involved in commercial real estate locally.   Some of those people will be VIP’s in the local area and perhaps property investors, business identities, or tenants; either way be selective in just who you should talk to and why.
  • Keep in contact with people after the first meeting so they remember you for the property professional that you want to be.  Most of the listings that you create will be from ongoing contact and building trust with the people that you know.
  • Focus all of your meeting efforts into your local area.  Don’t spread yourself too widely and across an entire city; the strategy doesn’t work.  You can be a real property specialist when you drill down into a property type and location.  You can get to know the people and the activities of the market that will help take you forward as a top agent.

So the message here is that a ‘Meeting Masterplan’ will help take you forward as a top agent.  Set your meeting targets and put yourself in front of more people.  That’s how you can build your real estate business as an agent or broker.

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