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How to Exponentially Increase Your Business Based On Trust

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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.

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Proven Strategies to Sweep Aside the Competition in Commercial Real Estate Brokerage

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Get deeper into your property market.

In commercial real estate brokerage, you really do need to know how to work through and around the competition when it comes to listing conversions, and property marketing activities.

(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)

Fact

You cannot be generic when it comes to working with your client’s properties and the listing activities locally. You need some specific strategies to stand out as the agent of choice in a relevant way above the other competing agents in the location.

Look local

In most towns or cities there are always degrees of competition coming from the other agents locally to interfere with listing conversion and listing retention. It is always better to find the listing off market before any other agents locate it. You can then design your marketing strategy accordingly.

So have a serious look at your prospecting activities first and foremost. Understand what you’re doing when it comes to connecting with the right people, researching the levels of property activity locally, and drilling down into the business community to help them when it comes to relocation, property change, and property acquisition.

Most of the results you get in the property industry today will come from your personal efforts and one-on-one contact. You will need a plan to achieve that. Everything else is a factor of luck in the industry, and luck really doesn’t work when it comes to commercial real estate brokerage over time.

What’s your plan?

Establish your plan to help you find the new business opportunities or leads from the market segments, the property types, and the clients that you really want to work with. Make the right choices and then drill down into those segments deliberately and directly.

So some questions here……  Do you know your targets in the industry today? You understand exactly where you are headed and how you will achieve the momentum required?

Here are some specific ideas to help you with brushing aside the impact of your competitors in today’s property market:

  • Stop listening to your peers in the industry. There are plenty of people who will flood your thinking and activities with negative comments and unnecessary observations. Master your own property market through your own observations and experiences. Learn from the best, but ignore the average agents in the area that may be simply seeking to support their own poor performance through irrelevant reasons and market observations.
  • Fast track your listing opportunities through a cold calling model and business process. Make plenty of calls each day into the local business community. Some of those business owners will be tenants whilst others will be owner occupiers. A simple telephone call will help you understand who the business owners are that need help when it comes to property change, relocation, or upgrade. A professional cold calling process will help you drill down into the requirements of property investors and business owners.
  • Through regular ongoing research, develop various packages of market evidence that you can call on when it comes to many conversation, meeting, or presentation. A simple chart, checklist, advertising campaign, or set of photographs can help you grow a conversation into real listing momentum.
  • Be yourself and improve yourself as an industry professional. You cannot reinvent the wheel when it comes to your personal character and business history. You can however improve your presentation and your presentation skills to deal with property types and the clients in your town or city. You can never really know enough about business communication today, so start practicing at each and every opportunity. Learn how to put the right words and phrases to well selected resources and presentation material. Be prepared to show the client exactly how you are the best solution for the location and their property challenge.
  • Understand exactly where you are headed when it comes to new business opportunity and listing activity. You will need to use a business plan as part of that process, and that business plan should be structured on real market evidence that you have research over time. Look at the location and assess the property activity for the last few years. Understand where you can fit into the predictable property churn and activity as an industry professional in each and every way.

So there are some things to do here as part of positioning yourself as an industry professional. Take your business to the next level through deliberate ongoing daily activity. Most of your competitors will be rather ordinary when it comes to marketing, client contact, and competition.

Simple changes

A few small changes in your business focus and local market evidence will help you convert client to accept your professional services at the right time in the right way.

(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)