Day: August 9, 2011

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Top 7 Tips in Starting Commercial Real Estate Careers

As a real estate agent of over 30 years I have seen many agents come and go. Some salespeople do well and others do not. The reality of the industry is that you get back what you put in. Your success has nothing to do with the economy or the time of year; it has everything to do with your focus and your daily actions. I say that at a time of global changes and pressures; even at this time the results that you get back as a salesperson or real estate agent are self generated.

Here are the top 7 tips that I give people that are new to the commercial property industry:

  1. Your success is always possible if you create your focus, feed it with passion, and work hard.
  2. Make prospecting a daily habit of 3 hours every working day. Keep in contact with clients and prospects at least every 90 days, so you become top of their mind when it comes to property in the future.
  3. Research your market constantly for prices and rents. Watch for new developments and monitor supply and demand of lettable investment property.
  4. Know that commercial property changes hands on average about every 5 to 7 years. That should be a target for you to prospect.
  5. Use other agent’s signboards as a reason to talk to all other property owners in the street. They may prefer to compete with the other listing.
  6. Practice your dialogue, negotiations, and presentations so you are the best in selling the property listing, inspection, or dream.
  7. Document everything so problems and misunderstandings cannot develop.

You can do very well in a career as a commercial real estate salesperson. Commit to these 7 rules and the market will open up for you.

You can get more career tips in commercial real estate at http://www.commercial-realestate-training.com/

 

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Don’t Hang Up When Call Prospecting

In this economy and real estate market, call prospecting is a critical part of the business. Unfortunately not enough salespeople do it on a regular basis. Even the best salespeople understand the value of constant call prospecting and the new business that you create from it.

So let’s say you are one of the dedicated minority that make the calls every day, here is a tip. As you make the calls, do not hang up between calls. Do not put the handpiece back on the hook, keep the telephone in your hand. Do not give yourself any downtime in making the calls.

As simple as it seems, the process allows you to lift call numbers substantially and generate more new business. Yes you do have to capture information from each call, but the best way to do that is on a standard form that you write on as you make the calls. At the end of the call process you can capture all of the information into the database or whatever other system that you use. You can see some other tips on cold calling at http://www.commercial-realestate-training.com/