The Magic Word in Commercial Real Estate Agency Today

Now this title might be a bit challenging for some but the concept needs to be raised.  So many commercial real estate agents ask me about ways to ‘shortcut’ the road to listing progress and commission success.  Guess what; there is no ‘shortcut’, as hard work is required no matter what road you take, but there is a word at the centre of the ‘success blueprint’.  It’s called ‘discipline.’

If you have the right disciplines, you will get results.  The property industry is that simple.  It all comes down to the right actions that you take and your ability to create habits from those actions.  Without creating habits, any action you take is random and of little benefit.  You have to do something frequently to see the results that you want.

It’s no good having some bad days and some good days in commercial real estate; every day has to have your personal focus to make it a good day.

A good day with great discipline looks something like this:

  • Contact new people to check their need for help in property matters
  • Refreshing contact with existing prospects to build rapport and consolidate opportunity
  • Getting out into your territory to meet more business leaders and owners
  • Inspecting properties with qualified prospects
  • Maintaining contact with current clients to update them on market trends and recent property marketing or inspections.
  • Negotiating and closing deals for current listings
  • Documenting offers and following up on current contracts and leases
  • Maintaining your database after the days meetings and contacts

This list in itself can be daunting for some, but the keys to progress in commercial real estate agency remain for those that can use them and open the doors to progress and results.  The first 3 points above are more important than all the others.

The opposite of ‘discipline’ is ‘random’.  Where do you fall in the sliding scale?  Are you firmly in the right place to get the results that you want?  Or do you fall somewhere in the middle?

The message here is for you to change your disciplines and set the right habits in place.

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Closing More Commercial Property Listings – Tips for Real Estate Agents

Today we find many commercial properties available for sale or lease in most locations.  The difficult global economy has produced a glut of commercial properties that have to be sold or leased.  Either way the owner of the property needs help from a great real estate agent.  Are you an agent of that calibre?

Rarely can an owner of a property capture the entire local property enquiry themselves when it comes to the time for selling or leasing.  Sure, they can place an advert in the local paper or on the internet and hope that something happens, but the reality is that they do not have the database of contacts those agents should or do have.

It is in property markets like these that the great agents with a good database really do come to the fore.  They know so many people that the ‘advertising and hoping’ process does not have to occur to make a property sell or lease.

It is in markets like these that a good agent has plenty of stories and experiences to tell the property owner at the time of listing, that give real evidence of the ability for that agent to cover the right target market and attract the best price or rent.

If you work in commercial real estate, it is time for you to look at the value or experience you bring your client in tougher property markets.  Can you specifically provide your client with real strategy to solve their property problem?  Are you different that the others in the market?

Before you answer those questions, I can tell you that the best answers are not generic.  Do not bother with such common things that most agents give:

  • Best local agent
  • Know the area
  • Sold more properties
  • Have great staff
  • Will do a great job

My comment here is that you have to drill down on anything you say or do.  Tell the client why you make these claims and give evidence.  Show them why you make the claims.  Many agents do not do that and simply rely on the generic comments to close a listing.  On that basis the client can chose from the cheapest agent with the lowest fees, simply because one agent does not stand out as being the best choice.

Make no mistake here, the property market today is highly competitive for many agents and on that basis you really do have to connect well in your sales pitch or presentation.  That is what I am saying.  Are you up to the process?

You can get more free tips for commercial real estate agents at our website