Unlocking Success: The Transformative Power of Personal Connections in Commercial Real Estate

As a commercial real estate agent, you can work on and attract new transactions in any property market, primarily sales or leasing-related. How does that happen? There is a relationship around which to build your real estate business. There are groups of people to connect with as part of your agent activities.

It’s all about listings. Future sales transactions are possible due to your previous leasing activities and landlords. Consider leasing and sales transactions to increase your market share as an agent.

So, how do you grow your real estate business consistently? It all comes down to personal connections and the systems you build around them. Get to know a lot of local business owners and landlords throughout your area. You can work as a tenant or landlord agent. Given your knowledge of property market trends, rents, and incentives, your services benefit tenants and landlords.

Start with your contact list

If you are struggling with your real estate business and have few local contacts, start your database with the local business phone book. Begin by calling all the companies in your area to determine whether they lease or own the properties where they are located.

As part of that process, you will have numerous opportunities to share market updates and trends related to business occupancy and alternative locations.

Here are some unique ways to help you grow your connections with landlords and tenants through your location.

1. Local Business Owners

Consider the various types of businesses that operate within your precinct or assigned territory. Some of these businesses will need specific types of property to operate from. This implies that you can and should specialise in specific property types to serve particular business types.

Your leasing prospecting can then focus on business types and locations in particular buildings. For example, you could become a leasing agent specialising in allied health facilities. You would then frequently communicate with doctors, chemists, physiotherapists, pathology services, and other allied medical services in your area.

Given the numerous variables of allied health services to focus on, you can create subsets of activity and categorise your database accordingly. This allows you to communicate with doctors, chemists, dentists, and other specialists as needed.

2. Connections and conversations

The best way to find new business in leasing premises today is through conversations you initiate.

While many agents enjoy using social media channels in some capacity, social media can only be considered a C Class prospecting channel. If you are serious about generating new business opportunities, you must be serious about the conversations you initiate.

3. Extra Contact Processes

Consider engaging with your prospect list beyond the phone and cold-calling processes. You can create specialised newsletters or market updates for your investors, landlord, and tenant contacts as you build your list.

Those newsletters can be quickly produced locally using industry trends and media releases from the location. Many leasing agents who serve landlords and tenants generate a PDF report for each customer type every month and send it via email.

The newsletter can then be customised to reflect the local supply and demand for space and the specific property types you work on.

Building Your Business

As you can see from the preceding points, conversations and connections will drive your success as a leasing and sales agent in your area. There is a fundamental discipline in doing so, and with time, you can generate significant listing results from those connections.

Make it a point to schedule those contacts every day. Enhance your leasing services by providing market updates on rental rates, incentives, and space availability across precincts and property types.