Commercial Real Estate Agency is a Game for Top Agents

business man on bike
It doesn’t matter how you prospect! Just do it.

In commercial real estate agency, you can be distracted by lots of things.  They can take you away from the issues that really matter and disturb any good intentions that you may have had with your business day.  Let’s face it, in selling or leasing commercial property you will have (hopefully) lots of people to talk to and connect with.  Without some ‘game plan’, you can actually forget where you are and what you are doing.

If you are like most salespeople in the industry, the pressures will always be on when it comes to prospecting, listings, marketing, inspections, and negotiation.  So these are all parts of ‘the game’ and they can all be improved.  It just takes deliberate practice.

So here are some tips that can be adopted when it comes to improvement in the agency side of commercial real estate, and most particularly sales and leasing.

  1. Define exactly what you do want to do on a daily basis and that can have significant impact in your business.  Those things will usually be prospect calls, new business leads, meetings, and listings.  What you can do here is track the numbers with each of these activities.  In tracking the numbers, you can see where you are improving, and you can also see where you need to improve.  The numbers are actually a way of supporting your progress.
  2. You will have determined the parts of the business and the types of property that are your mainstream source of commission.  Track the levels of enquiry that come in for each listing, and track the time on market when it comes to each exclusive listing.
  3. The enquiries that come in for each property should be questioned as to the source of enquiry.  In that way you will understand what parts of your marketing are actually working.  You can then adjust future activities with your key listings.

Commercial real estate is a type of ‘game’, and when you look upon it in that respect, you can start keeping your scores and tapping into your progress.

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By John Highman

John Highman is an International Commercial Real Estate Author, Conference Speaker, and Broadcaster living in Australia, who shares property investment ideas and information to online audiences Worldwide.