When you really understand the commercial real estate market and the brokerage activities in your location, you will fully appreciate that you should be talking to lots of local people in a regular and ongoing way. The database that you create from the people that you know and talk to regularly will be your pipeline of new business in so many different ways. (NB – You can get our free commercial real estate course right here)
Whilst some listings will come to you because of the brokerage that you work for, most of the high quality listings will be a direct result of your personal effort and ongoing contact with property owners, investors, and business leaders.
In those 3 categories of people you will find commissions, listings, and a good degree of property pain. So how do you get this important business activity underway? You make lots of cold calls in a regular and ongoing way.
Cold Calling Benefits
The principle and main benefits of cold calling can be best described in this way:
Building you personal profile
Finding new people that need property help locally
Tracking property changes locally
Finding new listings
Keeping up to date with market trends
All of these things fit quite specifically into the business of commercial real estate brokerage. If you are looking to improve your career in commercial real estate, then look to the strategies and skills in cold calling. Learn how to make more professional business calls every day in a relevant and logical way across property and business segments in your town or city.
In this audio program, John Highman talks about the real benefits of cold calling and why you could consider it as an important part of your real estate model.
Learn the real and relevant skills behind making more prospecting calls in a positive way each and every working day.
Those clients that fail to adjust to market circumstances deserve what they get (or fail to get). The best clients will always listen to market circumstances and allow their agent to refresh the property and push on with other marketing and pricing ideas.
A Brokers Job
Our job is to match the strengths of the property listing into the market conditions and make things happen. It is also our job to resolve the weaknesses that may be present in the property so results can happen with inquiries, inspections, or offers. There are some real skills to be tuned and developed there.
In this audio program, John Highman talks about the ways that you can and should approach those difficult commercial property listings to get better results.
The commercial property management segment of the market can be quite lucrative from a brokerage perspective. The clients that you serve in that way require specialized skills and services over an extended period of time. The complexity of the property can involve strategies and activities across the tenancy mix, leasing, vacancy resolve, maintenance management, asset planning, and income performance. There are many things to do and many ways to approach the challenges that the client may face.
So the message here is that you can and should develop a significant property management portfolio in your real estate brokerage. Take the time to develop a list of clients and prospects who will need your services in management at some stage in the future. Develop a prospecting process to open the doors to management opportunity.
The best way to attract commercial real estate clients and those needing management services is to directly prospect the owners of the best buildings in the best locations. It is always preferable to manage a building with multiple tenants in occupancy and multiple levels of income generation.
The bigger buildings and those with a complex tenant mix require expert management help. They also require complex software management programs to administer the required controls on leasing, maintenance, tenant mix, and income optimisation.
So there are some distinct advantages here to be optimised. In this audio recording, John Highman talks about the opportunities of commercial real estate property management in brokerage today. See if you can use some of the tips that John talks about to open up your brokerage opportunities in this way.
Its the middle of the year and we all have plenty of things to do over the coming 5 months to the end of 2014. Part of this podcast focuses on Goals and Targets; I hope you have been tracking your targets for this year. Now would be a good time to assess the way in which you can get more results towards the end of the year.
In this audio file I am also covering leasing issues being ‘construction plans and drawings’, as well as how you can qualify and lease to more tenants in this market.
Thanks for being part of this online community. I hope the audio is of use in giving you ideas and momentum.
This is a special podcast on prospecting and Cold Calling for Commercial Real Estate Agents. There are 5 topics to help you understand the best ways to prospect for new clients. 1. The Cold Calling System is Not Dead, 2. Some Effective Cold Calling Tips, 3. How to Improve Client Connections, 4. Don’t Hang Up in Calling, 5. 10 Ways to Improve Your Commercial Real Estate Agent Career Opportunities. These are training programs by John Highman for Commercial Real Estate Brokers and Agents around the World.
Every commercial real estate broker should be putting out a newsletter by email once a week or once per fortnight. This strategy will help you stay in touch with your clients and prospects whilst also telling them of the changes in the market and the listings that are available.
To make this work you need an autoresponder, and some good marketing material to feed into the newsletter on a regular basis. Make it interesting in every way possible.
Here is an MP3 audio file for agents and brokers considering starting this process.