Every commercial real estate agent wants to dominate their territory. They want the best share of listings and commissions. So just how can you get to the level of top local agent and dominance in sales? The answer is you need a plan and you should use the sales and leasing history of the local area as a tool to create listing leverage.
When you have a number of local agents all operating in the same area or with the same property type you find that competition is fierce. Everyone seems to be jumping on the same listings, and every listing presentation involves 4 or 5 agents quoting for the property. Invariably and unfortunately the agent to win the job is usually the one that offers the lowest commissions, lower sales fees, and low marketing costs. If only the sellers would understand that cutting corners in this way is a sure road to low market penetration and extended time on market.
The best way to achieve territory domination is to make more of the history of the area. When you do this you can pick up the listings that are more likely to come on the market next. Research and cold call the owners and businesses impacted by the following:
- The properties that were sold about 4 years ago and beyond
- The properties that were leased about 4 years ago and beyond
- The properties in the immediate local area around the current for sale boards of other agents.
These 3 facts are the ones that will give you leverage. In most cases these will be the properties to next come on the market. Talk to the people impacted or involved in property that falls into these categories. They will be the next to act. Why not find these people before other agents do?
This says that the sales history of the local area has so much opportunity in it to be tapped. That is how you will achieve territory domination. You can get more free tips and tools for commercial real estate agents at http://www.commercial-realestate-training.com/
When you work in commercial real estate, the definitions of success are quite easy to understand. They are simply the numbers of quality listings that you attract, the number of deals that you convert, and the levels of commission that are paid at settlement. Three simple matters like these are all driven by numbers, and you should track the numbers each week to understand your progress. To achieve this three-stage success process in your career, you need your own personal real estate marketing plan. It is remarkable how so many salespeople focus on marketing the property for the client, but then to have little focus on marketing themselves for their personal success.
In the real estate business, a personal marketing plan is fundamental to the amount of business that you will generate and your territory domination. The personal marketing plan is something that is actioned every day and quite specific in its structure. The more effective the personal marketing process and your efforts to make it happen, the better the results that you will achieve.
Just about everybody in the industry wants to be more successful. The real success that you want comes from the personal marketing plan and your own actions to support it. When the property market gets tough, it is this personal promotion approach that will see you through and support you during difficult times. So exactly what is a personal marketing plan and how can it be structured? Here are a few ideas to support you:
- At the centre of your marketing plan is the need to generate and support a relationship with your market and your prospects.
- Undertake all your own prospecting to build your personal brand. Do not delegate your prospecting to a call centre.
- Centre your plan on direct contact telephone calls, canvassing the local streets, and direct mail with follow-up telephone calls.
- Research your market for opportunities and prospects. Being able to identify prospects and opportunities before everyone else is the key.
- Understand the deals that have been done in your market both in selling and leasing. Prices and rentals become important in your conversations.
- Personal contact is the key to making your marketing plan work. Make sure your database supports you in ongoing follow-up contact.
- The more people you talk to in a professional way each day, the better results you will achieve.
- Follow-through on every personal contact with a consistent meaningful communication.
- Your daily diary is at the centre of taking action.
So all of this is quite complex and will take reasonable effort on your part. The massive opportunity surrounding all of this is that most real estate people will not take this consistent action. For those that do, the results are significant, continuous, and rewarding.