What to Expect from a Career in Commercial Real Estate Agency
A career in commercial real estate can be extremely rewarding in many different ways. That being said, it is also a demanding and highly competitive industry. There will be plenty of other agents for you to compete against when it comes to clients and listings.
So let’s say you are working in the industry now or you are soon to move into it. The fact of the matter is that you should be a driven person that can push yourself to do the difficult and challenging things that commercial real estate requires. That is how ‘top agents’ get to the high end of the market; they are prepared to do the ‘tough stuff’ that others avoid.
Promotion is a big part of being a good real estate agent. Drive and determination are key factors to take you forward under adversity. The adversity you strike will be from the pressure of competitors, tough clients, difficult properties, and challenging market conditions. All of that being said I still say that it is a great industry with lots of opportunity for people that work hard.
So here are some tips to help you strengthen your commercial real estate business and market share:
- Market knowledge is critical at all times. When it comes to listings and presentations, many a client will test you and your skills. Have all of the local market information at hand to back up your recommendations and strategies. Show the client that you really know what needs to be done.
- Listing presence in the local market will help you build personal profile. Your name should be known by many prospects in a good way. Your name should be out there on all good quality listings. It is these top listings that will bring you better property enquiry.
- Ego can be a good thing to keep you strong at difficult times, but too much ego will destroy your client relationships and market. Let’s say that you should be confident in what you do but not ego driven. Your confidence should be based on market results and proven performance. If you haven’t got any listings of quality now, make it your focus to create them. Better listings will bring you the confidence that you need.
- Client contact systems should underpin your market share and referral business. If you help your clients solve problems effectively and directly, the property cycle and referral system should push more work your way. This then says that every client and listing should be serviced strongly and effectively. A satisfied client will spread the word about your relevance and skill.
- Commissions will grow with your database. When you focus on the quality and growth of your database, you can soon see the right listing and client opportunity to pursue.
- Marketing skills are essential. You should promote yourself first and foremost each and every day. They call this prospecting and not enough agents do it all the time.
Seek to improve yourself and grow your skill base. The clients that we serve like to know that they have chosen a top industry professional as part of listing their property; they want help with property challenges. Build your knowledge and skill to help them. Practice what you do and know about the commercial real estate market, then sell yourself and your skills in a comprehensive way.
