Prospecting and Cold Calling Tips for Commercial Real Estate Agents

When it comes to commercial property sales and leasing, we all hear and know that you must prospect for new business regularly otherwise you will go poor very quickly as a salesperson.  The fact remains true and is much more evident today as the property market is slower and tougher for many salespeople. In this market you need lots of contacts and property listings to make things work.  The listings will give you the enquiry that you require and that is the fundamental rule to the business.    Here is an article from our Newsletter.

Quality listings bring quality enquiry. So you get two different groups of people in the profession at the moment.  You get those that prospect every day and those that really do not get to the process very often.  The latter is far more common and they are the majority of salespeople that I talk to; they are finding things a bit tough at the moment.  They need help.

So what can you do if the market is tough and slow for you right now?  You can get prospecting and do so to a system and direction.

Here are some rules for the process:

1. Make prospecting a daily event regardless of all the other things that you have to do in your job.  Prospecting is the number 1 activity in your diary.

2. To prospect well, you need to be prepared for the rejections that you will get.  Many people will not have an interest in what you have to say or offer.  Many people will not want to talk to you.  When that occurs you simply move on to the next call.  There are plenty of people to talk to in the property market.

3. Your focus on the task is more important than anything else.  If you simply do the calls without the focus and dedication that it requires then the process is harder and less successful.  You need a mindset to help you through this thought related problem.  The mindset is confidence and consistency based.  You have to believe in what you are doing.

4. If you need something to get yourself started, use a simple script for the first few sentences in the call, although move to conversational mode as soon as possible.

5. Preparation is the key to calling the right people.  Each day you have to research more of the right people to talk to and meet with.

6. Create at least one new meeting per day with new people that you have not met or contacted before.  This is critical to the growth of your business.

7. Each day make sure you have updated your database with fresh information and contact detail from the calls and meetings that you have created.

In running a commercial real estate office, I would rather have working for me 3 salespeople that prospect every day, than 10 salespeople that do not.  There is a huge difference in the income of those salespeople that prospect every day.

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