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Local Clients – How You Can Find More of Them

city buildings in Hong Kong

Local people are the foundation of a successful real estate business.  You can work with the key players of the real estate business locally and most particularly sellers, buyers, and business owners.  There are plenty of opportunities in commercial real estate to be sourced in those groups as part of a prospecting model.

(NB – you can get plenty of client tips and ideas in Snapshot right here – its free)

In this audio I talk about the importance of a ‘locally focused’ prospecting model and how that can work for you in your real estate business.  Drive more listings and commissions your way through a bias towards the local area and the people in it.

Here is the audio:

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Simple Ways to Capture More Commercial Property Management Appointments

city view commercial real estate audio

Commercial property management remains an important part of the professional property services that brokers and agents offer.

Property managers can offer alternative strategies to improve property performance, net income, and occupancy.  Their job is complex, specialized and valuable to investor clients.  You can understand why the service is so valuable to a successful brokerage over time.

Subscribe to our audio programs right here.

In this audio program, John Highman talks about some simple ways to grow portfolio business, hence allowing the netting better fees and clients.

 

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The 80 20 Rule for Commercial Real Estate Brokerage

In commercial real estate today, most of your results (in commissions and listings) will be created through specific involvement with just the top 20% of your clients.  Understanding just who are the clients in the top 20% is the important issue to work through.  You could say that they are the VIP clients that you should be working with.

(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)

The 80/20 concept is called the ‘Pareto Principle’ and it was identified as a general business rule back in the early 1900’s.  So what is it?  It is a known fact of business and a proven equation when you are looking to covert more results from your efforts.  You can use the rule quite comfortably in commercial leasing, sales, and property management.

So we move the concept into commercial real estate for your location and apply it to your business.  It doesn’t really matter how many clients you have in your database now, it is the top 20% that you need to identify and then comprehensively service over time.  Approximately 80% of your revenue activity will come from that group of elite clients.

In this audio program, John Highman talks about the 80/20 rule and how you can work with it.  You can listen to the program or download it below.

 

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How to Find Commercial Property Management Clients and Why Do It

city building scene

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.

Note, you can get our free commercial property management course right here.

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.

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Commercial Real Estate Brokerage – Appointments in Huge Capacity

business meeting
Create more appointments and meetings faster.

In commercial real estate brokerage, you will need a good selection of ongoing appointments and meetings locally to allow you to build market share, your client list, and commission opportunities.

(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)

Those special and ongoing appointments will only come to you through your direct prospecting efforts and new business focus. Don’t let a day pass without a deliberate and direct focus into new business opportunity.

There is one fact to remember here as you strive to improve your commercial real estate career. Our industry is usually based on local personal contact and individual trust. That is why meetings and appointments are so important.

So what about luck?

Certainly there will be a degree of luck helping you gain some market traction and listing opportunity, but most of the quality new business that you create will come to you through deliberate prospecting and client contact over time. There is really no other consistently good way to grow your real estate business comprehensively and directly.

Make quality choices

So you have some choices to make here. You can move through the industry slowly, or you can take the fast track to grow your leads and client list. If the fast track is for you, then consider the following facts and strategies:

  1. Exactly how can you reach out to new people in an ongoing and relevant way? The message here is that you cannot and should not be average when it comes to your prospecting and client communications.
  2. You will need some local market information and research to support your prospecting activities. In every connection and communication, provide that local market information professionally and specifically to the right people. Vary your market information presentation strategies using graphs, charts, statistics, photographs, and case studies. Allow those specific marketing tools to support your professional skills.
  3. What types of clients and prospects should you focus on? Always bias your prospecting efforts towards quality; the definition of quality would relate to specific buildings, specific clients, particular property precincts, and certain local businesses. Within your client and prospecting list, you should have a select group of VIP people that you will be connecting with more frequently and more directly. Action your contact into that list.
  4. Remember the opportunities evolving from asking the referral question. As part of every client and prospecting meeting, ask for existing and future referrals hence providing links to other people that may have a property interest. Some of your clients and prospects will know a number of other property people from the location. Ask the right questions relating to referrals at the right time in every meeting and in every client relationship.
  5. Remember the two sides of the property market and most particularly the property owners and the local businesses. You will get plenty of new business opportunity from both segments providing your prospecting model is adjusted accordingly. There are variations of new business that can be created from both property owners and business proprietors. Are you prepared to market yourself comprehensively into each group? How would you do that?
  6. What are your services? Typically, you can provide specialized brokerage services such as a seller’s agent, a buyer’s agent, a tenancy advocate, or investment specialist. In each case you will need a deliberate marketing approach and focus. You also need specific and supporting market information to help you penetrate the market.

So there are some good things that you can do here to create more appointments locally as a property specialist. Every day should be a special day when it comes to generating new appointments with new people. Start the day with a prospecting approach to new people.

(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)