In commercial real estate agency you need strict daily procedures and market knowledge to help you build market share. When you start your career in the industry it is very easy to develop poor or incorrect habits that can threaten to derail your career. This is certainly the case if you are modelling your activities off some other agent that is less than professional or somewhat ordinary when it comes to business skills.
Time in the industry does not always build the skills of an individual agent or salesperson. Personal effort is required. Learn and grow your skills and knowledge in every way possible.
It is wise to watch and assess the activities of the best people in the market. Find out what they do and why. Check out their marketing and prospecting skills; see if there is something that you can replicate.
To help you in building your commercial real estate business and listing focus, here are some tips and ideas to develop:
- Define your sales territory by location and property type. You can then focus your prospecting into a zone on a ‘street by street’ and ‘property by property’ basis.
- Organisation is the key; get a good database to help you with tracking information and leads.
- Your ability to prospect will greatly impact the results that you get in listings and commissions. Top agents are great prospectors. This is a very specific skill and it can be refined to suit your market and territory. Practice in dialogue is the key.
- Create a marketing folder that contains everything that you need in the field when talking with sellers, landlords, buyers, and tenants. You will need ‘visual’ material including charts, photographs, and comparable properties. Include with that a selection of listing forms and marketing proposals.
- Create a set of 3 typical marketing strategies for the property types you work with. They can be used with the clients and prospects that you pitch your services to. The clients that we work with like to see and compare before they make choices in marketing and listing.
- Start a weekly assessment of comparable properties, signboard counts, and current internet listings. From those facts you can check out the priorities when it comes to leasing and sale requirements from the market.
- Quality listings will always give you better inbound enquiries from buyers and tenants. Assess you territory or sales patch for the best property locations and businesses. Those zones should contain the property targets and property investors that will help you with reaching market dominance.
- Talk to more people every day. Always take the opportunity to fill your contact cycle and database with new prospects.
The commercial real estate industry has plenty of opportunity for those agents that work to a system and focus on growth of market share. Take charge of your career and get your systems and action plans in place.
You can get more tips from our main commercial real estate training website.