When you are looking to establish or grow your career in commercial real estate brokerage, there are things to do in building market share at a personal level. In this podcast program by John Highman, you can learn the key facts of building a good database of clients over time. (NB – you can get more career tips in commerial real estate brokerage right here in Snapshot – its free)
It is always the case that a broker or agent must know lots of people in their location and across their property type. That is a deliberate strategy and focus.
In this audio recording, John Highman talks about the importance of focus at a personal level. Build your real estate business in real and relevant way.
It is hard to get results in anything unless you are passionate about what you do. Commercial real estate brokerage is a bit like that. There are plenty of pressures and issues to contend with in the industry, so if your ‘head’ and ‘heart’ are not firmly in the issue then it gets a whole lot harder.
If you have chosen commercial real estate as your career, then it is best to look at how you can grasp the industry and make the most out of it for your town or city.
Understand your location for what it is, and then delve into the properties and property people with gusto. Find the best people and the best properties locally, and then position yourself for conversion and opportunity.
Look at all the available new business ‘channels’ in your location. See the property changes and the upcoming opportunities. Talk to lots of people and build the right relationships with the best people locally.
Do the Assessment
To get started with this you can do a basic assessment of the following:
Your competition brokers and agents
The property types available
The growth and changes in the business community
Investor activity locally
What the people in the property market are looking for
The growth of the city
Changes to infrastructure and roads
The major industries for the area
The trends of commercial property over the last few years
Your current property skills and knowledge of the local area
The resources that you have at your disposal
When you look into these things, you can see where the property opportunities will be. Positioning for opportunities then becomes a strategic and planned process, and you will need a plan to build the business around you. Here are some ideas to help with that:
Property differences – There are real differences in listings locally. The best listings are likely to be those that are well positioned, or those with a quality tenant mix and or an improving income stream. Understand where the ‘quality’ properties are. Look at the property market from a buyers or investors perspective.
Learn from the best – When you look at your competitors you will see some strengths and weaknesses. Why are the top agents so successful? See their skills for the advantages that those skills create. Can you replicate those skills? Can you put your ‘twist’ on their property process to stand out as a better agent or broker?
What should you specialize on? – Look at the property types locally and choose to work on the ones that you understand, and those that have a future for you. There is no point specializing in something that has limited sale, leasing, or property management potential.
When you take and work on these three simple ideas, you can see what you can do with your commercial real estate business plan as an agent or broker.
The industry offers great opportunity for those that can see where they are headed, and then improve their approach in a regular and ongoing way. Skill improvement and knowledge will help you get further traction in your location as the agent or broker that people need and want.
Its the time of year where we can still create some real momentum in the property market. There is still some 2 months of opportunity and transactions to be sourced. As you focus on that idea, understand and remember that how you work through the next 2 months will impact the way in which you start 2015. 🙂
I have put 4 audio programs in this recording below. All different topics, but all very relevant to what we should be doing in the property market today.
Here are the topics:
The 3 common mistakes that most agents make, and how to avoid the problems.
Why you should think about your ‘opening statements’ as you work with new clients and prospects.
How to work more productively with property investors this year.
How to go about routing inspections in commercial property management and why the process is really important to the ways in which you help your landlord clients.
These are all parts of the eCourse ‘Snapshot’. You can get more of those eCourse ideas and templates by joining up right here.
In commercial and retail real estate, a sales slump will happen. Here are some ideas on today’s podcast about how to work with that and minimize the impact. At any time of year you can work more effectively in the key parts of your real estate business to boost your market share and keep the […]
Any shopping center is or should be a busy place in many ways; the busier the better, to a large extent. Sales for tenants will improve providing that customers are attracted to the property. That should be the focus for the leasing manager and landlord or investor for the property. There are a number of […]
The telephone can be your ‘friend’ or ‘enemy’ in the commercial real estate business. The most successful agents and brokers get telephone processes under control and use them in a variety of ways as part of their business day. The telephone is their ‘friend’. Don’t take too long to develop your telephone prospecting skills and […]
In commercial real estate brokerage, there are things to monitor at a personal level. They are the key ratios and results that matter. Over time those numbers can show you where things are heading and how the property market is changing. Expect those changes and look for ways to improve actions. Brokerage Strategies to […]
The leasing process in commercial and retail property can be improved by a simple degree of personal organization and directed action. That action is in connecting with landlords, tenants, business owners, and property developers. The information gleaned from those connections will help you with the entire leasing process. Get to know the people, that’s the […]