If you have been working in commercial real estate agency for some time, you will know that there are many different things to do every day. That being the case, it is very easy to take the ‘easy road’ and avoid the hard and difficult tasks.
An average working day for a commercial salesperson looks a bit like this:
- Prospecting for new business with business proprietors, and property investors
- Inspecting other competitors listings in the market to understand how they are impacting your listings
- Talking to property owners to update them on activities and marketing changes
- Listing new properties and checking the relative details of price and marketing
- Servicing existing listings to the qualified prospects and target market
- Running marketing campaigns for existing listings to lift the levels of enquiry currently available
- Reporting to property owners on progress made from recent inspections
- Inspecting properties with qualified prospects to encourage offers and negotiations
- Farming your territory in a methodical way to strengthening your market domination
- Building a presence on the Internet for yourself personally as a specialist within a property type and a particular area
- Taking offers and negotiating contracts and leases as the case may be
- Getting involved with the sales team with regular meetings and market updates
- Answering emails
- Writing proposals for new business
A career in commercial real estate sales and leasing is perhaps one of the best and most rewarding selling environments you can work in providing you work hard and in a systemized way. Some salespeople struggle with being systemized even in these times where freely available technology helps us enormously.
One of the main attributes of human beings and particularly salespeople is that we have choices and we make choices; the choices we make in commercial real estate on a daily basis can radically impact the results that we achieve. That is the single most challenging aspect of salespeople in the industry. The majority of the salespeople make poor choices when it comes to their daily activities and points of focus. They would rather take the easy road than the challenging road.
Some of the things in the list are far easier than others. Invariably many salespeople do the easy things first and neglect the hard things. Most commonly, it is the hard things that really do bring in the business; prospecting is perhaps the most important item on the list. Most salespeople fail to prospect on a regular basis.
The most important things in the list can be summarized in a very short number of issues when it comes to commercial real estate salespeople. They are:
- Prospecting for new business
- Servicing existing exclusive listings and key clients
- Finding of qualified buyers and tenants to satisfy the needs of each listing
- Negotiating and closing on a realistic offers
All of these items link together to form the results that we require. Create a list of actions like this and incorporated it into your diary. Are there salespeople out there who are prepared to take the necessary steps to make their business happen on a daily basis? The answer is yes, and they are the top agents. Action is everything in our industry. Talking about something without taking the action is of no value whatsoever.
If you want some more tips to help build your property market as a commercial real estate agent, you can get them right here in our bulletin for agents and brokers.