In commercial real estate agency today, the notable difference between top agents and all other agents is in their client database. Their client database is larger and more committed to the agent. Over time the clients give more leads and listings to a top agent. The clients trust the agent. That should be your focus if you want to grow market share quickly in this industry.
Building A Database Correctly
It takes time to build a database like this, but it has to be done if you are to rise to the top of your industry. Every client or prospect that you connect with has to be treated differently than anyone else. They should be made to feel special and respected.
From this statement, it is easy to see that your progress in the industry can be fast-tracked if you commit to communication and connection with clients and prospects. They need to know you and trust you. You should be relevant to them and their requirements as business owners or property investors.
To some degree, you could say that this is a form of ‘lead generation’ for the agents. It takes time, but the lead generation process works. The fact of the matter is that the agent knows a lot more about the commercial property market than the client or the prospect.
Client Connection Process
Here are some ideas to help you with this client connection process.
- Direct mail updates about the market should be sent monthly. In the updates provide information about prices and rents, as well as photos of properties that have sold or leased. Always follow up every piece of direct mail sent. It is a reason for a telephone call.
- Online newsletters are convenient and easy to do. They should be automatically sent using a branded autoresponder service. Everything can be automated today.
- LinkedIn is very useful and relevant to our industry. Given that we work with business people frequently, it is more useful than Facebook as a business tool.
- Twitter should be used and integrated into your LinkedIn community. It is very easy to use Twitter as a tool of connection with facts and points of interest.
- Blogging is a very powerful business tool today with your online activities and marketing. It can help you build your brand and relevance to the market. You can link your client base in your emails to your blogs.
- Contact calls should be made frequently and at least every 90 days or less. The regular contact will build that level of trust that you are looking for.
- Database management is a personal thing. Every salesperson and agent should maintain their own database. It is the lifeblood of opportunity for every agent.
The client connection process is not hard. It just needs to happen, and systems will help you do that. Over time you can build your list of opportunities and your database.