When it comes to working in the property industry, commercial real estate can be very special and unique. The knowledge required to be an expert in your field is quite specific. For this very reason it pays to specialize in a property type and a location. All the ‘top agents’ do exactly that.
You can be a sale and or leasing expert, or perhaps a commercial property management and leasing specialist. The important thing is that you are very good at what you do and you can talk to the service you provide in a comprehensive way.
I should also make a special note here about ‘retail property’; retail is much more specialized than office or industrial property. If you are a true ‘retail expert’ then focus on the special issues of retail property performance such as tenant mix, leasing strategies, and increasing sales performance for the retailers. All of these things lead to a great property performance.
Our clients like to deal with ‘property experts’ that have a very good command and control of the market. Whilst your office can have a good marketing position and perception in the local area, you personally should also have the same.
Here are some tips to help you get the right focus in your career and steer the process forward.
- Find a top agent or mentor to help you with ideas and focus. Experience is a great thing and those that have been working successfully in the industry for a long time will have ideas that they can share with you.
- Watch the good people in the industry to see what they do. Some of your competitors will be better than others in market share and closed transactions. Some salespeople in those competitor businesses will be ‘top agents’. How did they get to that position and what do they do every day to build their market share? Look at their marketing efforts and their property speciality; are there any differences in what you are doing? How can your mirror their ‘good’ processes?
- Systemise your day so you stay on track and move ahead in your plan. The only real resource that you have in the industry is the time that you use every day. Don’t waste a minute of time on things that do not matter.
- Personally create a database that grows through your daily prospecting efforts and directed action. You will capture a lot of information in that database that can take you forward into new property opportunities. The capturing and recording of the right information is a personal skill; ensure that you do all of this work yourself so you take ownership of the information and use it to the fullest of its circumstances.
- Avoid poorly organised salespeople that make excuses. There are a lot of these people around. Negative comments and ideas from these people do nothing for your momentum and market share. Whilst the property market may appear slow or sluggish, don’t let the comments of ‘poor performers’ hold you back from trying something new and relevant.
In any property market there are always opportunities to be captured. In most cases your results are driven by the number of relevant people that you know and maintain contact with. It always comes back to who you know and how you keep up the contact.