Essential Things to Do Everyday in Commercial Real Estate Agency

two business men walking and talking
Top agents know all about setting tasks

When you work in a commercial real estate agency, sales listing activity can be a significant and major part of your commissions and transaction results.  This then says that you should stay fully in control of your sales opportunities, prospecting, marketing, listings, and clients.  You should determine the key things that should be done as part of building your sales transaction opportunity.  Get to know your market, and grow the opportunities as you find them.

Some properties will demand more time and attention than others.  The same can be said for clients.  To segment and focus your efforts, only work with priority on the exclusive listings and the good clients behind them.  Any open listings on your books can be attended to if and when time or opportunity permits.

It is very easy to get tied up in the pressures of the day when you are involved in commercial and retail real estate sales.  Many people will place demands on your time for their reasons that are not necessarily essential and important to your personal income and growth of market share.  Selective control of your time and your diary is a personal skill that will have a major impact on the transactions that you achieve and finalize.  Stay focused; that’s the rule.

So the message here is that you should stay well in control of your business focus and your efforts.  Here are some things for you to do every day as part of building your personal profile and listing opportunities.

  1. Start the day with dialogue practice.  Most of your sales success and prospecting activity will be based on your ability to converse, negotiate, and close.  This then says that personal dialogue improvement will support you with the key parts of your business.  You can practice your dialogue personally each morning when you arise.  It is simply a matter of creating some dialogue sheets relative to prevailing market conditions and challenges.  Develop some words and phrases that suit the typical challenges that arise as part of negotiating, listing, and transacting.
  2. When you reach the office at the start of the day, the first activities should be based on prospecting.  Given that we work with businesses and property investors, spend approximately 2 hours each morning talking to people within those groups.  Use the business telephone book to identify the local businesses of relevance to your property specialty.  Is very easy to put together a list of 40 or 50 businesses to call on a daily basis.
  3. Your prospecting efforts will eventually produce meeting opportunities.  Around the middle of the day those meetings should occur.  Our industry is largely based on trust and long-term relationships.  Get to know the people that can need your services now or in the future; build the relationships for the times that you can move to a transaction in sales or leasing.
  4. Given that you will have a group of listings that you service, pay particular attention to your clients with exclusive listings.  Keep them up to date with the trends of the local market, their property inspections, and any current negotiations.

When you have addressed all of these four issues, the rest of the day can be left wide open to the opportunities behind taking enquiries, qualifying, running inspections, and negotiating.

There will always be variations and pressures on your business day.  Control your day as best possible.  In this way you will get more traction when it comes to converting listings, and attracting enquiries.

Get more tips like this at our parent website http://commercial-realestate-training/

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.