In this property market, the number of new listings that you generate for your commercial real estate agency business will help you create better sale or leasing conversions and the resulting commissions. The established fact today is that not every property will sell easily in this market. Only the best properties with the best improvements and tenancy mix will create good enquiry. The enquiry that you generate from each and every listing and signboard should go into your database for future ongoing contact.
Recently I caught up with a number of salespeople in Sydney Australia at a workshop. There were some 30 or 40 salespeople in the room. During the early parts of the workshop, I started to talk about database and how the database should be used in commercial real estate agency. Only one salesperson in the room could prove to me that they had a significant personal database of substance and accuracy. Without a doubt, that salesperson was more successful than anyone else at the workshop. That salesperson was telling me quite clearly that they were living off the activities within their database. Every day they confirmed that they would make the calls and contact the people that they had spoken to before. They were also contacting new people on a daily basis to qualify them for entrance into the database.
The process of database creation and contact is so simple and yet rarely implemented correctly. Here are a few tips for those salespeople wanting to rise to the top of their market:
- You will need at least 2 hours a day to make cold calls to new prospects within your market
- You must follow up on all the prospects that you have spoken to previously on a 90 day or less frequency
- The key objective of prospecting today is to get in front of enough people that have a serious property need at some time in the future
- Personal contact remains the most powerful way of converting new business
- Get at least 2 meetings a day from your call contact system
- The best real estate salespeople market themselves each and every day
So many times I have heard a salesperson saying that they do not have a good database because the principal or manager of the office will not buy the software. The reality is that you do not need to spend many dollars at all in creating a new database. Excuses are counterproductive; action is the only thing that matters in commercial real estate. At the very basic end of database activity you can use the simple contact records in your diary software program. The key to the success of database usage is in the personal frequency and diligence of the process.
If you need any more tips for commercial real estate agents you can get them here at http://www.commercial-realestate-training.com/