When you work in commercial real estate agency for a number of years, you know that the property market fluctuates and changes frequently. The only way to work efficiently in the property market as an agent or salesperson is to build your prospecting model and to implement it every day. Here are some tips from our Newsletter for Commercial Real Estate Agents today.
If you do this you will earn more commissions and listings. That’s the formula for success in the industry.
Whilst this may sound fundamental, the reality is that many salespeople really struggle with the prosecting process. If you can be one of the minorities that creates a clear and efficient prospecting system, and that you implement it every day, then the local property market awaits your activities and ideas. You can win a lot more business. We tend to forget that clients and prospects that need to sell and lease their property really do want an active agent that is not afraid to get out and about to attract new business and contact.
The best agents are not afraid to talk to new people and to source out tenants, property owners, investors, and business leaders. All of this takes system and consistency. It is a very personal issue that cannot be delegated to a PA in your office. If you live and drive your database, you can create the contacts and the churn that you need. So who should you contact?
Here are some of the high value contacts in commercial real estate agency prospecting today:
- Local property owners
- Property investors locally
- Tenants in commercial, industrial, and retail buildings
- Business owners in the local area
- Property developers
- Planning officers at the local council offices
This list of people will have the network and the ideas that you need to tap into as an agent. They know what is going on in the market place and may want to do something themselves at any time in the future. When you get in touch with these people, the ongoing contact process is really important. It takes about 3 or 4 telephone calls over an extended time to open the door with these people. This is where your database becomes really important.
Find some database software that supports your contact and call process and implement its use every day. In about 3 or 4 months the benefits will become apparent. All it takes is a consistent call contact process that you do every day to try and get meetings with the right people. When you make lots of calls, you will find that some people to not want to talk to you, or may not have a need. That is just fine and you should proceed as quickly as possible on to the next call. Keep up your calling process for 2 or 3 hours every day. Consistency and persistence will pay off when you take ownership of the process and to the hard work yourself.