How to Put More Human Contact into Your Commercial Real Estate Brokerage

city buildings on river

In your commercial real estate career, it is hard to get anywhere without a good degree of client and prospect contact.  Your brokerage and your office location will have little to do with the little to do with the inquiries coming in.  (NB – you can get more client contact strategies in commercial real estate brokerage right here in ‘Snapshot’)

Each day you simply must get out the front door of the brokerage, and into your territory.  It is a precise process that requires a plan.  Build your real estate business around people first and foremost.  Talk to more people and take a record or notes from valuable conversations and relationships.

Facts of Time

Why think this way?  It takes about 3 to 6 months of direct prospecting to get some real momentum up and running in a brokerage career; what you want to do here is give energy and focus to database accuracy and growth.  Get to know plenty of local people.

What can you learn from this?  Your database should be at the center of your tasks, your diary, and your daily activities.  Choose a good database program that works for you and your property specialty, and then use it each day; revisit the details of earlier contacts, meetings, and conversations.  Look for those small pieces of information that could turn into a valuable discussion or new real estate business.

Human Focus

Put the concept of ‘human contact’ back into your real estate business.  While it is always easy to send an email or make a telephone call, the traditional approach of ‘face to face’ meetings and ‘drop-ins’ tend to be the best way to get traction and momentum with new clients and prospects.  You can judge the success of a commercial real estate agent by the depth of their database and the strength of personal relationships with key customers and prospects.

Contact and Communicate

So, let’s get some more focus on this concept.  Here are some ideas to help you get your ‘human contact’ plan up and running in your real estate business:

  1. Door knocking local areas, businesses, and tenants – get to know all the firms in the streets and the zones that you control. It is always likely that a simple conversation with a local business owner can lead to something of value, be that in a sale, lease, or property management.
  2. Meetings in a regular way – when you have established a link and relationship with a new client or prospect, stay in contact so that you are seeing or talking to them at least once every 90 days. Regularity is important to build profile and relevance.
  3. Getting to know the clients comprehensively – some customers can have ongoing property needs and or challenges. Get to know their portfolios and locations.  Look for the elements of change in investment.
  4. Establish a VIP prospect and client program – some of your contacts will be more ‘valuable’ for future business in so many different ways. Differentiate your customers based on value, location, capability to act, and property requirements.
  5. Creating ‘leave behind value’ for all your meetings and inspections – when you have made a contact or connection, send some follow-up information immediately after the event. The information that you submit can ‘open the door up’ for ongoing communication.
  6. Every inquiry or inspection is a reason to keep connecting – when the first inquiry comes in, keep the conversation and connection flowing through a series of professional processes including brochures, emails, and case studies. Local property information is always of interest to investors and business owners.  Share information that is relevant and real for the location.

Through these strategies, you can build a solid business profile as a top agent for a location and property type.  Go for the opportunities that you can sense or see.  Keep connecting at a personal level.

The All Powerful Networking Event Concept for New Business in Commercial Real Estate Brokerage

city view commercial real estate audio

In commercial real estate brokerage, you can and should mix and match your prospecting activities to the market conditions and target market.  You can get involved in networking events and meet new people that way.

In this audio program, John Highman talks about the important prospecting concepts that help brokerage growth and opportunity.

5 Handy Tips for Attracting More Commercial Real Estate Sales and Leasing Deals

commercial real estate fee negotiation.
Capture the listings and commissions

We all know and expect that to get anywhere in a sales related career you have to work hard.  Commercial real estate brokerage is like that.  Yes, you do have to work hard, however if you have a systematic approach to what you do, things will improve dramatically and in a better way.  In simple terms you can set some rules to the brokerage process.

Here are some tips from our online articles.

Here are some specific facts to help you get your career under control and hence improve your results:

  1. One listing leads to another – If you list quality properties, you will find that the marketing process of one listing will let you talk to many people locally.  You will also have some good enquiry coming towards you.  Carefully capture and nurture the leads and information that you get from all marketing campaigns.  Build your database and client base from all your marketing campaigns.
  2. Directed marketing – When you win a listing it is the start of the marketing process.  Quite a few decisions need to be made about target market and promotional strategies.  Maximum effort can be applied to an exclusive listing; however you do need vendor paid funds to attract volumes of attention in the campaign.  With most property types you will need about 1% of the value of the property to be applied to the marketing campaign.  Spend the money wisely and directly on promotional efforts that are well considered.
  3. Marketing variations – Any one good quality property should be marketed in a few different formats; that includes advertising layout and content.  That then allows you to promote the same property more effectively on different websites and industry portals.  Some brokerages have a professional copywriter overseeing and helping with advertising copy.  Whilst it is an expense to every campaign, it can be justified and the rewards are many.  Add the specialised service of a professional copywriter to your vendor paid marketing budgets.
  4. Refreshing listings – Every 14 days of a marketing campaign, refresh the listing with different photographs and promotional copy.  Include as part of that a modification of price or rent if those factors are published in the campaign.  To do this you will need a client that is conditioned to market conditions and inspection results.  The message here is that a change to marketing will help with enquiries coming back in.
  5. Feedback – When you conduct an inspection or get an enquiry from a qualified prospect, record the results in client feedback form.  At the end of each week you can use the form as a way of updating the client and also conditioning them to the facts of the market.  The good thing here is that the comments given are from other people and not you.  You are just the ‘messenger’.  When handled correctly you can position the client and the property for a shorter time on market and an effective deal negotiation when it starts.

From these things you can see that the property marketing process is one of considerable planning and process.  Every listing should be positioned for real momentum and enquiry opportunity.