In commercial real estate brokerage, you will need a good selection of ongoing appointments and meetings locally to allow you to build market share, your client list, and commission opportunities.
Those special and ongoing appointments will only come to you through your direct prospecting efforts and new business focus. Don’t let a day pass without a deliberate and direct focus into new business opportunity.
There is one fact to remember here as you strive to improve your commercial real estate career. Our industry is usually based on local personal contact and individual trust. That is why meetings and appointments are so important.
So what about luck?
Certainly there will be a degree of luck helping you gain some market traction and listing opportunity, but most of the quality new business that you create will come to you through deliberate prospecting and client contact over time. There is really no other consistently good way to grow your real estate business comprehensively and directly.
Make quality choices
So you have some choices to make here. You can move through the industry slowly, or you can take the fast track to grow your leads and client list. If the fast track is for you, then consider the following facts and strategies:
- Exactly how can you reach out to new people in an ongoing and relevant way? The message here is that you cannot and should not be average when it comes to your prospecting and client communications.
- You will need some local market information and research to support your prospecting activities. In every connection and communication, provide that local market information professionally and specifically to the right people. Vary your market information presentation strategies using graphs, charts, statistics, photographs, and case studies. Allow those specific marketing tools to support your professional skills.
- What types of clients and prospects should you focus on? Always bias your prospecting efforts towards quality; the definition of quality would relate to specific buildings, specific clients, particular property precincts, and certain local businesses. Within your client and prospecting list, you should have a select group of VIP people that you will be connecting with more frequently and more directly. Action your contact into that list.
- Remember the opportunities evolving from asking the referral question. As part of every client and prospecting meeting, ask for existing and future referrals hence providing links to other people that may have a property interest. Some of your clients and prospects will know a number of other property people from the location. Ask the right questions relating to referrals at the right time in every meeting and in every client relationship.
- Remember the two sides of the property market and most particularly the property owners and the local businesses. You will get plenty of new business opportunity from both segments providing your prospecting model is adjusted accordingly. There are variations of new business that can be created from both property owners and business proprietors. Are you prepared to market yourself comprehensively into each group? How would you do that?
- What are your services? Typically, you can provide specialized brokerage services such as a seller’s agent, a buyer’s agent, a tenancy advocate, or investment specialist. In each case you will need a deliberate marketing approach and focus. You also need specific and supporting market information to help you penetrate the market.
So there are some good things that you can do here to create more appointments locally as a property specialist. Every day should be a special day when it comes to generating new appointments with new people. Start the day with a prospecting approach to new people.