Important Roles in Commercial Real Estate Agency

In commercial real estate agency today, you need to manage the most important roles that help you build your listing and commission business.  When you do this efficiently and effectively, market share and client growth will get a lot easier.

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The generic approach to commercial real estate agency really doesn’t work.  Today each and every agent needs to be quite specialised and focused when it comes to the services that they provide, and the sales territory that they work.

The roles that are central to your real estate business and your sales territory will be all of the following:

1. Prospecting through the local area to identify the right properties and the right property owners to act for.  Connecting with new clients and prospects should be a daily event.  The prospecting process will take approximately 2 or 3 hours per day from your diary.  Regardless of that time commitment, the process needs to be implemented and maintained. That is how you grow market share.
2. Maintaining a profile locally when it comes to your specialized property skills as a real estate agent.  Personal branding is a central part of a real estate agents profile.
3. Tracking the activities of other agents when it comes to competing properties in your sales territory or patch.
4. Helping clients when it comes to solving property challenges in sales leasing or property management.
5. Understanding the activities in the market today relating to prices, rentals, time on market, and marketing solutions.
6. Building a personal profile on the Internet that will help you to be recognized as a relevant and specialized real estate agent for the local area
7. Taking a client and their property through the requirements of listing, marketing, negotiation, and property documentation.
8. Understanding the factors of property performance that will help you package an asset for improved income and potential sale.

You can probably add to this list based on your area and your property specialty.  Clarity is important when it comes to understanding your roles as a specialized property agent.  The generic approach to real estate agency really has no place in this market.  Generic agents lose a lot of money and waste a lot of time as part of the process.  Top agents drive much more business and deliberately so.

Some of the things in this list above will be much more important than others if you are to be a top agent.  When you set the right priorities and stick to the process of implementation, the business gets a lot easier.  This then says that you must protect your time as it is the most important resource that you have as real estate agent.

When you look at your average business day and the tasks that need to be undertaken, three and four issues will be far more important than the other things on the list.  Recognizing the differences in the tasks and taking the right action towards them will help you consolidate your market and listing growth.  Control your day and control your agency efforts.  The rewards will soon come.

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