Why Commercial Real Estate Brokerage is a Chance of a Lifetime
Commercial real estate brokerage is a real opportunity for those people that can apply themselves to personal processes and activities.
A career in the real estate industry is the chance of a lifetime and can provide plenty of avenues for income growth and lifestyle change.
So where do you start your activities? A career as an agent or broker is all about people and connecting with them.
Client List Creation
Providing you know the elements and legalities of selling and leasing property, the primary other skill to develop is in prospecting a real estate client list.
Every agent should have a substantial prospect list that would eventually turn into a client list. For some people, the prospect of beginning a career in commercial real estate without first establishing or having a database of leads to work with can be cause for concern.
Real Estate Conversations
What is the solution? Start talking to people every day and stay on task. Make your notes from the conversations and keep the contact activity growing.
Many agents struggle with creating contacts. That should not be the case; simple steps will remove the problem. It is all about developing new habits in talking to people.
Database Leverage
The simple truth is that you can and must prioritise your database implementation and its growth daily. It can all happen quickly when you initiate real estate conversations with new people.
You will construct that database fast from conversations and can do that over time. Connections and exchanges must be incorporated into the procedures of your work.
Ultimate Listing Formula Course for Agents
Hot Prospect Channels
Where can you start building your list, especially given that you may not know many people involved in real estate now?
The strategy or solution is simple. First, connect with the ‘obvious’ people in your location, territory, or town. They are in these groups. So, let’s start with the easy ones.
Business Group One
- Business occupiers
- Business owners
- Business owners/occupiers
Ownership Group Two
- Property owners
- Property investors
Associated People Group Three
- Property lawyers with property clients or services
- Financial groups (banks, building societies, lenders, brokers)
- Franchise groups that use property
- Accountants with property clients
Why are there separate groups? Well, the fact is that ‘Group One’ is easy to identify and find. Telephone calls about a local property market can start quickly with a simple script. You will find listings in that group if you make enough calls and meetings.
Groups 2 and 3 take more research and effort. Nevertheless, there is plenty of new real estate business to be found in each. Just differentiate your contact processes and create the contact pipelines. Track your progress.
Your First Database Strategy
You can start calling immediately using the yellow pages in your town or city as a primary database, and you can work through that massive group of telephone numbers by business group and location.
By talking to business owners, you can identify those who lease and own the property they are in. Either way, you can help them.
What is your focus as a real estate agent now? Commercial real estate offers plenty of opportunities for diligent and driven agents. It is the chance of a lifetime.
