Valuable Referral Programs in Commercial Real Estate Brokerage

people in meeting at boardroom table
Create a Lead Generation System

In commercial real estate brokerage today there are many opportunities to tap into. In any period of 12 months, there will be changes to the sales and leasing aspects of the market that can open up into new listings and new clients.

Brokerage prospecting models should always focus on quality listings and quality clients. The word ‘quality’ is quite important here in that you will always get better inbound enquiry rates from quality listings.

It directly follows that a sales or leasing transaction successfully completed will give you the opportunity for repeat and referral business. It is also the case that those clients that have had business with you previously will give you leads and opportunities to tap into if you ask the right questions at the right time.

Consider the following rules that can apply to a referral lead generation system:

  1. If you consider the last period of two years as a point of reference, identify the clients and prospects that you have successfully served during that time. Open up the contact process with these people again and seek a personal opportunity for a meeting and market related conversation.
  2. You cannot ask for referral business over the telephone. Arrange a meeting in suitable circumstances where you can provide the client with a market update. As part of that process, ask questions about their current property interest and involvement, together with the appropriate referral questions.
  3. Within your brokerage, you are likely to have a number of clients that are serviced in an ongoing way. That may be through project leasing or property management services. Keep in regular contact with these people as they may seek to adjust their investment portfolio. They will also know other property investors that may be leads or referral opportunities for you.
  4. As part of your existing prospecting program, you should know plenty of local business owners and proprietors. Some of those people will own local investment property, or may seek to do so. Understand the intentions of these successful business owners as they consolidate their financial nest egg.

Track and measure all of the recent sales and leasing activity through your region. That information will be quite valuable when it comes to establishing new meetings with clients and prospects. It is not hard to get a meeting when someone respects your skills and relevance as an industry specialist.

As part of your weekly brokerage sales meeting, insert into the agenda the topic of referrals and leads. That will focus the agents and brokers on to the issue as part of a regular reporting process.

Get many more tips like this at our main website at http://commercial-realestate-training.com/

 

Author: John Highman

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