Base Line Procedures to Build Better Commercial Real Estate Agents

man looking at paper
Build your agency systems in commercial real estate

As a commercial real estate sales agent, you will get benefit from establishing systems to list, market, and negotiate on your listings.  The fact of the matter is that systems will help you stay under control when things get busy or change.

The property market changes from time to time.  Currently there are lots of properties for sale and fewer buyers that can put a purchase together.  Given that our primary task is to sell a listing, you can develop some dedicated processes to help the overall sales and marketing process.

Commercial real estate sales is all about finding the quality listings, attracting the right enquiry, and converting the transaction.  To help you with the process and the outcomes, you can take a serious look at the procedures that can be improved in your agency, or personally.

Here are some core procedures that apply to the commercial real estate sales process today.  Review the ideas and test your existing processes and strategies.

  1. Create a marketing packet of information that can be sent easily and quickly to any person that requires more information from you.  The marketing packet will relate to a particular listing or a service that you can provide.  The marketing packet should be dispatched by e-mail and or mail very easily and quickly.  If you are sending the marketing packet via e-mail, ensure that the documentation is converted to PDF format.  In this way the layout and the presentational aspects of the information will be preserved.
  2. When it comes to commercial, industrial, and retail property, you can have specific prelisting kits that apply to the property type and the location.  Those kits will contain the latest market information, samples of advertising and marketing, some details regards your agency and the key staff, plus testimonials from previous happy customers and clients.  You may also have some market share information that proves your agencies relevance and specialty in the local area.
  3. Canvassing and prospecting will always be a critical component of commercial real estate sales.  Every salesperson should have a specific canvassing and prospecting program that they undertake daily and weekly.  In this way they can build their pipeline of opportunity.  On average, a top agent should be bringing in at least two exclusive listings per week.  Those listings should be controlled for a period of at least six months.  In this way those top agents can control the property enquiry and the client communication.  Over time these factors will give you better market share and better clients.  If you find it difficult to convert exclusive listings, then you need to improve your listing sales pitch and presentation.  That will require some practice, but over time you can achieve better conversions of exclusive listings.
  4. The marketing campaigns for the properties that you sell will be unique and different.  On this basis you will need to track the results of every marketing effort with every exclusive listed property.  Each week your marketing efforts should be adjusted to optimise the enquiry that you can achieve.  Be quite specific in your marketing effort, and ensure that every quality listing is the subject of a specific and well directed promotional activity.

A top agent in commercial real estate sales will have their job and their market share totally under control.  You can’t do this without having significant systems and focus into the local area.  If you are looking to improve your client base, commissions, or listings in commercial real estate this year, take a serious look at the procedures and systems that are currently being utilized in your agency and by you personally.

Author: John Highman

Commercial Real Estate Broker, Coach, Speaker, Author, Broadcaster.