How to Exponentially Increase Your Business Based On Trust

Trust is a big part of the commercial real estate business today. The clients and the customers that we serve will generally be attracted only to the brokers and agents that they trust; there is too much at stake with the property challenge to do otherwise.  How do you rank on this assessment?  NB You can join our free real estate training here.

 

Certainly market share and recent property activity will also have something to do with client trust, attraction and transaction opportunity, but ultimately the clients and the customers that we serve want to trust the agent that they work with.  Your local profile has to support that trust process.

 

Confidence about your services, and a complete coverage of the local property market will help you connect to the client in this trustworthy way; professionalism supports the process.

 

Give the client reasons to use your services; get away from the generic ‘pitch and dump’ process used by many ordinary agents.  Be special and be real when conveying your professional skills to the clients that you serve.

 

People Rule!

 

People are at the centre of our real estate opportunities today. Whilst you may know a lot about the properties for sale or for lease locally, you do need to know the people behind each and every property. They need to trust you to get the best price or rent in their property challenge.

 

The message here is that you can significantly increase your commercial real estate business based on facts, trust, and regular communication. There are plenty of clients and prospects in the local area to connect with in a continuing and relevant way. Most agents struggle with the communication and connection process; that is an amazing opportunity for the agents that can work to a plan and a strategy.

 

So what are you doing with this now?  Your prospecting model and its ongoing contact process will be critical to the real estate business that you want to create. When the market slows or the economy struggles, your database and the people that you know in the database will be the foundation for ongoing business opportunity. The agent with the best database and relevant client contact processes will usually be highly successful in any market at any time.

 

So what can you do here? Over time you can build elevated levels of trust with your clients and prospects through a deliberate prospecting and marketing process. You can provide relevant information for the location and the various property types.

 

Ongoing Contact?

 

Through deliberate and ongoing contact, you can help local business owners and property owners with their property challenges; you can help them with information relating to rents, prices, time on market, and future supply. Build the long-term relationships with the people that really matter in the property market locally. Local area relevancy is really important to your client and customer contact processes.

 

So let’s help shape your professional profile with the people in your local area.  Here are some ideas to help you become a trustworthy agent or broker with the people that you know in your town or city:

 

  1. Seek to understand their property situation as it exists today. There are differences to look for with investment and property ownership. Will the property provide all the elements and attributes they require into the future for both ownership and or occupancy?
  2. Look for pressures and weaknesses in any property and the location. Are some of the local property factors changing that could shift the balance of property performance or ownership locally? Advise the client of the local factors that can influence their property challenge. Provide solutions to move through the challenges; make sure that your solutions are not ‘generic’.
  3. Position the client for the future so that they can ride out any difficulties in the best possible way. Show them how you can help them in a valuable and tangible way.  Show them how you will put your resources into their property challenge; be relevant and real as you do so.
  4. Improve property performance through better tenant mix decisions, cash flow improvement and healthier lease documentation. It takes time to shape a property and a tenant mix for the future.
  5. Off market recommendations are valuable so understand how you can introduce the right people to the property and resolve a client’s challenge early, before it becomes a bigger issue. Match up people and properties wherever possible. Off market transactions are common when you know a lot of local property owners and occupiers.
  6. Confidentiality at all times applies to all property transactions and your client relationships. Remember just who your client is and how you can help them.  They pay your commission!
  7. Regular contact with local information will help with all of your clients. Put relevancy into your client and prospect contact processes using local information in the form of charts, photographs, and case studies.
  8. Remember the conversations and facts with all of your clients and customers as you connect with them into the future. You do this so you can repeat the right facts and solutions in the next conversation.  Let the client see that you really do have full control over the issues with their property, the facts as they exist in the local area, and their concerns in moving to the next step.
  9. Provide clear recommendations to your clients with all your property solutions. Give the client 2 or 3 choices as you talk about their property and its marketing, the upcoming negotiations and the best available listing processes.  A client that has a few choices will not feel pressured and thereby will be more inclined to make a good decision in a timely way to help the property marketing process move head.

 

These are all valuable strategies to adopt with your clients and prospects.  Get closer to them as they work through the problems of property ownership and occupancy.  Be the top agent that they really need; market yourself accordingly.

How to Create an Opening Statement to Attract Client Attention

There are many ways to approach a conversation or pitch to a client in commercial real estate brokerage.  Opening statements will help you capture the client interest from the very start.

Note, that you can get our regular course for Brokers and Agents right here.

Are you prepared to move the client forward?  You can have something prepared to catch the attention of the client early in the property discussion, negotiation, or listing pitch.  If you know plenty of things about your location and the property type, then the strategy really works.

What is it?

You could call this an exercise in ‘verbal flexibility’.  As commercial real estate agents and brokers, we need plenty of that as we move our clients toward a goal or conversion.  Professionalism underpins the process.

The best agents and brokers are usually great at setting the scene for the client in the conversation and then moving them through the process, challenge, or facts.

In this audio program, John Highman talks about ‘Opening Statements’ and how they should be used by brokers and agents in commercial property brokerage.

 

Time Management Strategies for Commercial Real Estate Brokers Today

In commercial real estate brokerage today, your time is a valuable resource and should be optimized in each and every way possible. You will have many pressures coming to you throughout the working day of the working week, and some of those pressures will change your priorities. Ultimately you can lose focus without some good controls and priorities.

Note: You can get our free commercial real estate brokerage course right here.

The clients and the people that we work with can be very demanding. The priorities that you set today for tomorrow can shift and changes the day starts. A good degree of discipline is required to manage your time and your tasks as a commercial real estate broker.

There is a simple message to be remembered here. If you remain in control and focus on the critical elements of your business, there is a good chance that you will succeed in the ways that are important to you. If you allow others to divert your business activities away from prospecting, marketing, and client contact, you will likely find that your industry career takes a different direction and perhaps starts to stall.

Commercial real estate brokerage can provide you with all the opportunities and rewards that you seek. Manage your time deliberately so that you can stay on task when it comes to business growth and market share.

In this audio recording, John Highman talks about the importance of time management and task control in brokerage today. Listen to John as he explains important things that really matter when it comes to the property industry and your future in it.

How to Get to Know Your Commercial Property Market Deeply

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Commercial Real Estate Brokerage Audio

In every town or city there are things that you can find that relate to commercial property sales, leasing, or property management.  You can get plenty of leads if you drill down into the location.  Meet people and ask questions.   A good conversation will take you closer to a property activity.

Having a good database will always help with new business generation.  For the new people in the industry, the priority to establish a good database is high.  Three to six months of effort will usually get a contact list established; from that point on it is a matter of keeping the data fresh and accurate.

To help my friends in the industry get established and stay on top of the right market trends, this audio will probably help.  It talks about who you should know and why that should be done.  Enjoy.

How to Set the Right Priorities in Commercial Real Estate Brokerage

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There are certain things that you can and can’t do in commercial real estate brokerage. One of the most important things you can’t do is waste your time.

(N.B. these ideas are also sent out to regularly to our friends in Commercial Real Estate Online Snapshot to help amplify brokerage results…. Get your access here)

There are many different pressures influencing your business day when it comes to client contact, meetings, and negotiations. Somewhere between all of those three key activities you will need to be doing some marketing and some prospecting.

Stay Focused

So you simply cannot waste your time in any way or form as it is the most valuable resource that you have. Your activities generate leads and commissions over time; there is a special equation to monitor here about how new business can grow through your personal effort.

When you put the right effort in, you get some real momentum with tenants, landlords, sellers, and buyers. They are all out there in the local property market, thinking about how they can do things and solve property problems.

The Right Priorities and Facts

Here are some specific ideas to help you keep your business day under control as best possible. See how you can work with these ideas:

  • Control your diary electronically across a number of cloud-based platforms. You should be able to access your diary on your mobile telephone, your computer, and your tablet. Make sure that everything synchronizes between your electronic devices.
  • Don’t let any other person in the office make appointments for you whilst you are out on other appointments or business activities. Your time management priorities will not be the same as other people when it comes to meetings, negotiations, and client contact.
  • Start the day in prospecting mode for at least three hours. It is a specific business discipline that will help you connect with new business opportunities in the local area. Use the first three hours of every working day talking to new people through door-knocking, cold calling, and direct meetings or marketing.
  • It takes about 3 to 6 months to drive reasonable level of business activity and market share. Every day during that period you will need to talk to new people and create new levels of professional service. Eventually the new business opportunities will be generated from your deliberate and direct efforts of prospecting. When the new business starts to come in, continue prospecting as part of a professional time management business model. You simply cannot stop prospecting for new business.
  • When you have a negotiation to complete or a deal to negotiate, that may take specific priority at the start of the day. That should be the only reason for you to divert your prospecting activities to another time later in the day. I go back to the point that you should not overlook the requirement to prospect for new business on a daily basis.

Look for the reciprocal value in the things that you do each day with marketing, clients, inspections, and transactions. There will be opportunities for referral and lead generation through many of the relationships that you will already have. Ask the right questions at the right time.

 Delve Deeply

Look into the existing situations that apply to your client list and property list. There will be factors of change and pressures from other listings locally. Top agents tend to look at the marketplace with a broad view to identifying change and property churn.

The business owners and the prospects or clients that you work with will have pressures and relationships that can open new transaction opportunities for you. Remember to ask the right questions at the right time.

(N.B. these ideas are also sent out to regularly to our friends in Commercial Real Estate Online Snapshot to help amplify brokerage results…. Get your access here)

How to Maintain a Professional Approach to Commercial Real Estate Brokerage

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Commercial real estate training MP3

In commercial real estate brokerage, there are plenty of pressures on deals and clients.  That pressure can lead to frustration and the temptation to ‘loose your cool’.  Stay away from the problem.  Maintain your professionalism at all times.  Your image as an agent or broker is really important locally.

In our industry, what goes around, comes around.  Remember that.

Here is an audio MP3 talking about that very issue.

How to Take Small and Effective Steps Forward in Commercial Real Estate Brokerage

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Plan your progress in commercial real estate brokerage.

It is easy to get overwhelmed with all the issues to action and implement in commercial real estate brokerage.  The best way forward usually involves small incremental steps of improvement that you action every day.

The fact to understand here is that there will always be things happening each day that you do not expect or plan for.

You will only be able to control about 1/3rd of your day; everything else is a ‘juggle’.

(N.B. these ideas are also sent out to regularly to our friends in Commercial Real Estate Online Snapshot to help amplify brokerage results…. Get your access here)

Control Your Day

So the process here is for you to control that 1/3rd of your day.  If you do that consistently, you will get somewhere.  It is interesting to note that most agents and brokers cannot or do not control even that 1/3rd; they let things happen and that casual approach to their business will lead them through the day and week.  At the end of a month they are frustrated and they generally lack reasonable market activity and or listings.

So let’s look at how you can take small steps forward in your business model as a broker or agent:

  1. Getting to know new people – You can never really know too many people. The fact is you must know lots of people at a reasonable level and they must remember you when they need property help.  The only way to achieve that level of familiarity is to start a prospecting and database process that you drive towards new people every day.
  2. Creating meetings – Just how many meetings do you create now each day with new people? A good target to work to is 2 meetings per day.  The best way to get to that level of market interaction is through personal prospecting using a number of initiatives including cold calling, direct mail, email, website, social media, and referrals.  Are you up to the challenge?
  3. Building relationships – You will have to connect with most of your contacts on a regular basis and that will be at least once every 90 days or less. Over time the familiarity that you require will be built.  Do the things that help your prospects and clients remember you.
  4. Identifying VIP Clients and Prospects – Differentiate the good people in your database from the ordinary people. Segment your database into VIP’s and others.  Spend a good degree of your contact processes reaching into your VIP database and growing the relationships.
  5. Watch the property trends and listings locally – When you see something listed locally with your competitors, watch the results, marketing, and enquiry or inspections. Some quality listings with your competitors will create volumes of enquiry in any market.  Try to attract the better listings towards yourself and your brokerage; that’s when you can build a profile of activity in your area.  A good marketing profile and a strong listing base will pull in the business locally.
  6. Put the deals together individually – Concentrate your commercial real estate efforts on your individual listings (and particularly the exclusive listings). Convert your listings exclusively most of the time, refresh them regularly, and market them deeply.  Winning a listing is just the beginning of the equation.  Results come from a singular focus on each listing and the client’s requirements.

So there are some good things to do here as you take small steps forward in commercial real estate brokerage.  Create a plan to do that and push your plan forward at an individual level each day; only you can do that.

(N.B. these ideas are also sent out to regularly to our friends in Commercial Real Estate Online Snapshot to help amplify brokerage results…. Get your access here)