Most of the other commercial real estate agents in your location will be working to the industry averages, and they will not be notably different or unique when it comes to their property market. You can work around that and use it to your advantage.
Understand your location and your territory comprehensively. Determine the target markets that you would like to encourage and get into. As part of that, you should create some target list of buildings, streets, property owners, and businesses.
A simple spreadsheet like this can help you tap into the local people more directly and frequently. Conversations create opportunities over time. On that basis, reconnect with people at least once every 90 days.
Connections are Critical
No matter what your property market is doing, you can strive to connect with more people every day, and that is the ultimate way of achieving new business in commercial real estate brokerage.
Here are some ideas to help you stand apart from the competition agents in commercial real estate:
- Split up your territory into groups of three or four streets at a time. Then daily, drop or call into the businesses on those streets leaving your business card. You can also leave an information sheet relating to current listings if you believe that is useful given that you may have listings in the location. Your business card is the essential business tool that you have, so use it effectively and frequently. Ensure that you get your business card into the set locations and at least 20 to 25 buildings and businesses each day.
- Make notes of the businesses in the streets where you have dropped by and left your business card. Two or three days after leaving your business card, call the respective companies and ask to speak to the manager or the proprietor. You then simply follow up on the fact of leaving the business card earlier; see if they have an interest in commercial real estate change or relocation.
- Recognize the different types of business that you can work on and create. Look at the opportunities within sales, leasing, and property management. Set some targets that can apply for the discussions and canvassing methods that you can bring into your location. One transaction can lead to another, providing you are prepared to extend the conversation and ask more questions.
Understanding the strategy here, you will note that the business community is a critical component of the commercial real estate market. Some of those businesses will occupy as tenants, while others will own property in which they are located. Either way, you can help them when it comes to property decisions and activity.
You want them to remember you at the right time and in the proper respect. Familiarity will help you penetrate the property market in many ways. Create meetings, telephone calls, and ongoing relationships with key people and business owners.
You could say that commercial real estate brokerage is all about exposure and communications. The exposure fact you want is your profile and market speciality, while the communication element will always be your face to face contact. I strive to create meetings with important and essential people.
Create personal connections wherever you can and keep the links flowing deliberately and directly into the future. There are still people in the property market that need your help.