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Why Telephone Canvassing is Essential in Commercial Real Estate Brokerage

Smiling businesswoman talking on cell phone uid 1173570
Make the calls and convert the meetings every day.

In commercial real estate brokerage, you need clients and lots of them.  Over time the greater the number of people that you know, the more leads and opportunities are available for you to act on.

(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)

Perhaps the word ‘know’ here should be emphasized and explained.  To actually ‘know’ a client or a prospect, you really should understand their property situation comprehensively, and they should trust you as an industry ‘expert’.  That relationship takes time to develop.

Key Questions to Ask

Look at your database as it exists at the moment.   Consider these questions:

  • Are you highly regarded by the people in your VIP database?
  • Would they refer friends to you when property issues arise?
  • How do you stand out as real and relevant to those clients now?
  • Would they say that you are the ‘industry expert’ that they trust?
  • Do they know you as a property specialist for your location?

You can see why relationships are just so important in our industry.  The variety, depth, and strength of your relationships will drive better business for you.  You can use the telephone to build your client contact list and your prospect database.

Making this Work

Telephone canvassing is part of that.  Here are ways that you can make that work in your brokerage business:

  1. Cost effective – Today you can make many calls for very little cost. As part of that you can track your numbers of calls made, to leads identified.  Over time you should see those numbers improve.  Be aware of your time and its importance to the prospecting process.  This doesn’t say that you should only make prospecting calls to find clients; it is one of a number of strategies that should be happening every day in your business career.
  2. Regular and routine – Set aside time to make calls every day. Make a good number of calls to new people and also existing people.  In that way you are building relationships over time and eventually converting more meetings.
  3. Target meetings – From the calls made set yourself some targets relating to meetings with new people. It is realistic that you create 2 new meetings with new people each day, Monday to Friday.  Put yourself in front of people; that’s what the business is all about.
  4. Script development – What you say really does matter. Most of the people that we talk to in our industry are experienced in business and or investment, so the prospecting dialogue you use should be refined through practice and relevance.
  5. Target specific groups – Make calls to groups of people, local businesses, and people in particular locations. Over time you can increase conversions simply by concentrating your call list and hence your conversation relevance.

So the message here is quite simple.  Get your call prospecting started and refine it over time.  That’s how you build your real estate business opportunities around you.

(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)

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4 Essential Prospecting Skills in Commercial Real Estate Brokerage

business woman sitting at table
Develop effective prospecting systems in Commercial Real Estate Brokerage.

Every commercial real estate agent should have a prospecting model.  In an ongoing way they should be connecting with new people each and every day.  That can be a challenge for some brokers and agents as they balance workloads and property listings.  The fact of the matter is that we should all be careful when it comes to personal time focus and client commitment.

Attract and Focus on the Best Properties and Clients

We should be focusing all or our prospecting activities and model on the best opportunities and the best clients locally.  Applying that back to the beginning of the contact pipeline cycle, we should be concentrating our prospecting skills into the best segments of the market and particularly the best people owning an occupying the prime buildings and the prime properties.

We all get our fair share of poor quality listings and redundant properties.  That being said, we do have a few choices to make when it comes to accepting a listing and working for a particular client.  As you grow your market share, be increasingly selective as to the properties that you list, and the clients that you work for.

Size Matters

The larger properties and the better listings will always create better enquiry churn and activity from your marketing activities.  If you focus on the higher quality listings within a location, the levels of enquiry will always be higher, more active and interesting.  That is how you can build a pipeline of investors and prospects faster within a location.

Here are some ideas to help you improve your prospecting activities within your town or city:

  1. COVERAGE: Understand the coverage of your prospecting activities. There is no point in spreading your prospecting activities across a huge area or a large town.  You have limited resources and time to cover the market.  Consider your territory and split into priority precincts of prospecting focus.  You should have your primary zone of prospecting.  Most of your new business should come from that defined area.  Everything else outside a primary zone will be a secondary focus; listings may come to you from the secondary zone but you would not specifically prospect into the secondary zone.  Understand your time as a resource, and focus all of your prospecting on a time basis into the primary precinct of property activity.  Typically you will need about 2500 properties to focus on in that primary precinct so you will need to get organised.  Over the year you can get to know all of the best property owners, the business leaders, the lease expiry dates, and investment opportunities.
  2. LOCAL PROPERTY: Focus within particular property types locally. When you focus your prospecting activities within a particular property type, you can get to know exactly what’s happening when it comes to prices, future supply, and time on market, contracts, and leasing.  You can also predict what challenges may exist when it comes to the segment and the location.  That then allows you to adjust your marketing activities and any negotiation factors that arise.
  3. PRIME PRECINCTS: Get to know the owners of quality properties in prime locations. As a commercial real estate specialist, you will already be focusing on certain segments of properties such as office, industrial, or retail.  Within those segments, identify a small group of prime properties locally.  Determine the ownership identity of those properties and make contact.  Connect with the owners and build relationships at professional level.  Understand that those property owners are likely to be talking to many local agents, so your connection will need to be comprehensive and professional at all levels.
  4. THE BIG END OF TOWN: Track the property ownership and occupancy activities of the larger businesses and corporations in your primary prospecting precinct. Certain businesses will be more successful than others and therefore more active when it comes to property.  Certain industries will be looking for resolving factors of expansion and contraction.  You can and should focus your prospecting into the active segments of the local companies and businesses.

These four simple approaches to commercial real estate prospecting will help you find the right people to talk to in a timely and ongoing way.  Focus on building relationships.  As a general rule, don’t list or work with low quality listings unless there is a bigger agenda to support the approach.

Understand that your pipeline of prospecting will be an ongoing event and will require a commitment at a personal level to keep up the momentum and the persistence.  Over time you should be talking to many hundreds of people in an ongoing and relevant way.

Keep it moving

Connect with all the people in your database at least once every 90 days.  When you can identify a property need or challenge, the frequency of contact will be shortened to monthly or even weekly.

Relevance is the key to making the contact prospecting process work effectively with reasonable levels of conversion.  The relationships and the trust that you build through that regular contact will eventually lead to listings and property requirements.  That’s how any top agent will build market share and grow market relevance.

You can get more prospecting tips for commercial real estate brokerage in our ‘Snapshot’ eCourse right here.

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Develop Some Simple Territory Tactics in Commercial Real Estate Brokerage

Commercial Real Estate Territory Planning
Commercial Real Estate Territory Planning

In commercial real estate today there are all types of properties to work on as well as zones of activity.  The opportunities are out there.  That being said I get a lot of questions from new agents as to how they can tap into their property market effectively and directly.  Some simple strategies will help.  I have put together these notes on how that should be done.

It doesn’t matter whether you are in commercial real estate sales, leasing, property management, or tenant advocacy; the same rules apply.  You can get my base territory planning strategy here in pdf form.

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Tips for Making Successful and Professional Cold Calls in Commercial Real Estate Brokerage

black telephone
Make more high quality cold calls in commercial real estate.

 

In commercial real estate brokerage the cold calling process is an essential part of new business generation. Making direct cold calls is a real skill and requires personal effort and systematisation.

 

One of the most important factors to help when it comes to telephone prospecting and new business generation is that of practice. Making telephone calls in this way does not come easily to many people. Most agents and brokers will struggle when it comes to the right words and phrases to use when telephone marketing. Regular daily practice can help when it comes to call conversions and meeting opportunity. The more calls that you make, the easier the whole thing becomes. Over time you will feel comfortable when it comes to telephone prospecting.

 

Before going too much further here, it should be understood that the principal target of cold calling as an agent or broker is mainly to achieve meetings with people that could need professional property services in the future. To achieve that knowledge and to create those meetings with the right people requires a conversational approach, not pitch and push process. If you push too hard for business in any telephone call, it is likely that you will lose out on the conversation and the call will come to an end.

 

Here are some ideas to help you with your professional cold calling process and meeting conversions:

  1. Commitment – Commit a particular time of day to the process. The best time to make those calls will be first thing in the morning before other things take over your activities and focus. You will need to spend approximately 2 or 3 hours in making cold calls each working day. During that time you do need to have absolute focus on the process and avoid any distractions or diversions.
  2. Mindset – When you have the correct mindset to make the calls, conversions to meetings are a lot easier. The best mindset to use is that of confident questioning. You are simply making a call to understand if the person you are speaking to has an interest or a potential future need in commercial investment property into the future. If that is the case, then you have a reason to stay in contact and/or create a need for a meeting. As the local property expert, you have the professional skills and the market information that is valuable to the right people.
  3. Focus on Groups – In making your calls, focus on two distinct groups of people. Firstly you should be talking to all of the local business owners and business proprietors. Secondly you should be talking to all of the local property owners and investors. Within both segments you will find needs and opportunities when it comes to property selection, acquisition, and disposal.
  4. Database Software – Choose a database program to help you with tracking conversations and opportunities. The database that you choose doesn’t need to be expensive or complex. It does however need to be readily accessible and user-friendly. Every day you should be shaping and changing the detail within the database subject to recent conversations and meetings with key people.

 

Taking these four simple factors into account, telephone prospecting and cold calling requires real personal effort and deliberate activity. There is no easy way to get around the process other than hard work and commitment. That is how you will find new business leads and opportunities in commercial real estate today. You can then professionally drive your business further when it comes to new clients and quality listings.

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Classic Commercial Real Estate Sales Letters

address book
Send prospecting letters in commercial real estate.

In the commercial real estate brokerage today, the classic sales letter will always create opportunity for an agent or broker if the process is put in place successfully and consistently.  It is necessary to understand the logic behind the process, the timing of the letters, and the requirement to do it regularly.

It is a fact that the e-mail prospecting process has taken over a large section of the real estate industry.  For this very reason, the traditional sales letter sent through the Post Office System will create a major point of difference in marketing when it comes to the prospecting activities of an agent or a broker.

If you want to stand out from the crowd when it comes to your marketing efforts, merge the sales letter process into your personal marketing efforts.  Here are some rules to help you:

  1. The sending of letters needs to occur regularly.  Send your letters to groups of prospects on a monthly or bimonthly process.  Given that each letter is specifically written for the target market of property owners or tenants, it is quite easy to group your prospects into segments.  At different times of the month you can send your letters to selected segments.
  2. So a key factor here is to write letters specifically to the targets within each group.  You can are groups for landlords, tenants, business owners, investors, and developers.  Specific letters are used in each case.
  3. As a general rule, and wherever possible, take the time to follow-up each letter with a telephone call.  If you know the telephone number of the person concerned, make the call.  Many letters will help you convert more meetings.
  4. It is preferable that the letter process is simple and select.  Three or four paragraphs on a single page will get the message across.  Sign your letters individually and ensure that they are personally addressed to the people concerned.  Enclose your business card with every letter.  You are marketing yourself and your contact details; that is what the letter and the message must do.
  5. Given that this is a prospecting process, the letter is designed to connect with the person you are sending it to, so that you can get more meetings and opportunities.  On that basis the message and the letter needs to be simply designed.  Do not fill the envelope with bulky marketing material that will confuse the central message.  Marketing letters are best left to a different approach and a generic mail system.
  6. Make it easy for people to contact you as part of the mail out.  Some people will call you as a direct result of getting the letters regularly.  That is why you enclose your business card as part of the process.  It is quite likely that the receiver of the correspondence will keep your business card for future reference.

So the direct mail process is a real and important part of the commercial real estate brokers marketing system.  Make it an important part of your regular marketing efforts.

Get more tips in our Newsletter right here.

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Cold Calling Success in Commercial Real Estate Today

In today’s commercial real estate market there are so many challenges for agents to address and conquer.  On of the big ones is prospecting for new clients.  Cold calling helps the process greatly but so many agents struggle with the rejection factor and the organisation that is required on a personal basis.

Here are some tips on audio MP3 to help agents with their prospecting efforts and outbound calls.

If you want more resources you can get more tips like this at my main website on commercial real estate training.

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Symptoms to Watch for in Commercial Real Estate Agency

graphs of results
Look for the symptoms of change in commercial real estate agency

In commercial real estate agency there are certain market symptoms for you to watch for.  If you like they are the symptoms of change.

I like to think that any property market is an ‘agents market’.  The buyers, sellers, tenants, and landlords will all suffer some market pressure and change, but we are the professionals that can choose our responses and actions.  The commercial property market is full of opportunity for those agents that look for symptoms and adjust their actions accordingly.

So here are some ‘symptoms’ to watch for:

  1. New property developments will throw some pressure on supply and demand for occupancy space and property ownership.  Check out the local planning office monthly to see what new property developments are coming up.
  2. Market rents will change seasonally, and for other reasons.  Understand the ‘seasons’ and what happens to lease or tenant enquiry as a result.  In some cases it pays to regulate the timing of property to be marketed for lease.
  3. Incentives will change in your local area when it comes to leasing.  The idea behind an incentive is that the cost of it is loaded into the balance of the lease term.  In other words the landlord gets back the incentive cost and interest from the lease structure.  You can build this extra cash flow from the rent review structures placed in the lease.
  4. Time on market will change each year by property type.  It is also a ‘seasonal’ factor to be watched.  Some properties will have a long ‘time on market’ factor, whilst others will move quickly to a transaction.  You must understand the reasons for either and both to occur.
  5. Certain price ranges will be more acceptable to the market throughout your region and during the year.  Keep the local sales records active so you can see what price ranges are more active than others.
  6. Renovation and refurbishment will be factors of change that can apply to older and redundant properties locally.  There is opportunity to be had here with the right properties that need to go through some usage change and property repositioning.  Look for the properties that need to go through this cycle of change.
  7. Always track the types of property enquiry coming in to your agency and how that enquiry is coming to you.  Understand what those people are looking for when it comes to a property or location.  This current property enquiry from all your listings will give you hints as to what is happening locally and how you can satisfy the demand.

Property research is easy in commercial real estate agency when you know what to look for.  Keep your records accurate and up to date.  You will then know how to improve your prospecting and marketing efforts.

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Key Prospecting and Networking Tips for Commercial Real Estate

Commercial real estate agent walking to appointment
Plan your prospecting and networking in commercial real estate agency today.

In commercial real estate today, the prospecting process is critical to your career.  On that basis, the earlier you start prospecting as part of your daily activities, the more successful you can be over time.  If you neglect your prospecting processes, you are doing yourself a lot of financial damage, and creating a loss of market share.  Over time you can be looking for another job!

It should be said that the prospecting process is quite hard for some salespeople and requires considerable focus.  It is hard in the sense that it is a process that not many salespeople are comfortable with or familiar with.  Essentially it is a new skill and requires discipline to create a new habit.  Prospecting does require a specific mindset that will allow the skills and momentum to improve into daily habits.

Finding the right people to talk to is all part of the prospecting process.  When you start talking to them, regular ongoing contact is the rule and not the exception.  This industry is based on personal ongoing contact and networking.  It is a people based industry.  It takes some time for the property owners and business proprietors to trust you sufficiently to help them with their property needs.  Commercial real estate is not an experiment; it is a specialized business process requiring expertise and knowledge.

Here are some tips to help you with your prospecting processes:

  1. The commercial real estate industry is built around local businesses and business people.  It is the business people that occupy the premises and pay the rental.  In starting your career, you can get a lot of information from local business proprietors.  They will also be excellent sources of leads and opportunity.  On a daily basis you should be talking to at least 10 to 15 business people as part of a new prospecting process.
  2. Property investors are on the lookout for quality properties and or future investments.  As you identify these people, your ongoing relationship with them should be nurtured for the opportunity and situation where you can help them.  In many respects, some of these investors are in contact with many agents at any one time.  For this very reason, your relationship needs to be stronger and more productive than those that the other agents may have with the same investor.
  3. Property owners will always be a target from a new business perspective.  The fact of the matter is that they are hard to find and hard to connect with.  In many situations the true owner of the property is hidden within a company structure or Property Trust.  Getting to the required person can be a frustrating process.  That being said, it still needs to occur and it is part of the prospecting process for each and every commercial salesperson.  Set yourself some simple benchmarks in regards to contacting these people and building relationships.
  4. Check out all of the significant local properties and local businesses.  They should all be entered into your prospects list and networked over time.  It may take some time for you to connect with the right person and or get the necessary meeting.  Persistence is the key to getting the results that you require.

Prospecting in commercial real estate does not need to be complex; it simply needs to be done.  When you establish your own prospecting system and merge it into your time management processes, you will find that the property market will open up with the opportunity that you need.

Need more tips for networking and prospecting in Commercial Real Estate Agency?  You can get them here at our main website http://commercial-realestate-training.com/

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Commercial Real Estate Agents – Networking Local Businesses for Real Market Opportunity

commercial real estate agent looking to the sky
Local business owners are a great source of leads and opportunity for commercial real estate agents.

When you work in a commercial real estate agency you can get a lot of valuable information from the local business owners.  For this reason they should feature in your cold calling efforts every day.

Many agents will focus on just property owners as part of their networking process for new business; whilst that in fine, the reality is that the process is hard and slow.  It takes a lot of time to find the right property owners and chase them down for a conversation.  I am not saying that you should not do it; I am just saying that you should mix it up a bit and add the local business owners into the networking process.

Talking to new people every day is part of building your business and your market share.  When you do this regularly you will find that the property market and opportunities within it will open up for you.

How do you do it?

So how do you get to these local business owners?  The easiest process is in using the local business telephone book.  You can also door knock the businesses locally on a street by street basis.  Either way the process is easy.

Many commercial real estate salespeople tend to analyse the process of networking far too quickly and critically.  They think that they should get results from just talking to just a few people.  That is not the case.  On average, you do need to talk to perhaps 40 people to get one opportunity.  For this very reason, the networking process should be a daily event and continue throughout the year.  Keep yourself organised as you speak to new people; gather any leads and information into your database.

Not interested?

Many of the people that you talk to will not be interested in commercial real estate. For this reason, you should simply be asking a few questions to see if they have a need or a future interest in commercial or retail property.  There will always be plenty of business owners and property owners to talk to providing you get yourself organised and talk to lots of new people.

Commercial real estate is a specialised part of the property industry.  Landlords, tenants, and business proprietors will need your assistance from time to time providing you show them your relevance and provide local market knowledge.

When you establish the initial connection with new people, and have satisfactorily qualified them as relevant to you, keep the contact open so they can find you when the commercial real estate need arises.  You should be networking all of your contacts at least once every 90 days.  That is the secret to building market share.

Through this connecting and networking strategy, the following information will help you with future business opportunities.

  1. The business owners will tell you what is going on in the local area.  They will likely know the intentions of some of their neighbouring businesses when it comes to property activity.  They will also have observed changes and pressures that exist with their neighbouring businesses.  Asking the right questions will help you here.
  2. Some of those business owners will be tenants in occupancy.  For this reason they will one day require potential relocation and or market information relating to rental and leases.  Building a relationship over time with these people will help you tap into that opportunity when the need arises.
  3. Some of those business owners may share information with you regards the landlord that owns the property in which they are located.  That can then short circuit the process of finding the property owner.
  4. Some businesses today will own the property in which they are located.  Over time they can have pressures of occupancy, expansion, contraction, or relocation.  They may also consider a sale and leaseback strategy.  You can help with all of these things.  It is simply a matter of building the right relationship.

Sometimes we tend to complicate the networking and cold calling process.  It is not hard or difficult, it is simply a system.  When you understand that, and develop your own processes within the system, you can create massive opportunity in your local property market.

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How to Build Your Commercial Real Estate Market Today

Commercial Real Estate Agent giving Ok handsign
Develop the right systems to take your commercial property market forward with real momentum as a Commercial Real Estate Agent.

When you work in commercial real estate agency, it is important that you have a prospecting model to support your momentum and market share.  This is a personal process, and has little to do with the agency that you work for.  The agency may provide you with some profile, but they would not normally produce the required levels of listing business that you require to be successful or gain the mantle as a top agent.

Here are some tips to help your commercial real estate activities in growing market share and listing activity.

  1. Determine the geographic area in which you can locate listings.  The geographic area should be split into two zones.  The primary zone is where you will get the majority of your listings, and the secondary zone is where you will get other listings.  All of your prospecting effort should be focused into the primary zone.  Anything that comes to you from the secondary zone is pure luck and a bonus.
  2. When you focus your marketing efforts into a specific zone, the area should have sufficient property types and property numbers to allow you to convert regular business over time.  As part of the process, look at the history of the area to ascertain the commissions and listings that have been transacted over the last few years.
  3. Within the primary prospecting zone, look at the business community and its current business sentiment.  What are the factors of change?  What are the things that are changing through their business community?  What can you do to attract property enquiry in your direction?
  4. Research the number of competing agents in your primary prospecting zone.  Who are the agents that are more successful than others, and why is that so?  Is there sufficient room for you to be competing with these other agents?  What will be the points of difference to differentiate you from these other established agencies?

In commercial real estate today, the general property market may be somewhat slower and tougher, however the opportunities still exist for those agents that can systemise their approach and drive some real momentum.

When you look at your average business day, there really are only two or three things that are quite important.  Those things should feature in your diary on a regular daily basis.

In almost all situations, prospecting will be number one on your list.  When that occurs each and every day, you will drive better market share and you will create more listings.  Over time that will help you become the top agent in the local area.  Action is more important than words in our industry, so set the rules to your business, and take consistent action.

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Commercial Realtors – Get Referral Leads from Old Clients

business man and woman talking
Ask for the referral business with your old clients. They know valuable people to make contact with.

In commercial real estate we need leads and lots of them.  Every avenue of opportunity should be taken to see what listing or transaction is possible.  In this market we should leave no stone ‘unturned’.  A sale can lead to a lease (or vice versa), and either can lead to a property management appointment.  Good service and quality follow-up with our clients always positions us for the future.

One of those very valuable sources of opportunity is ‘old clients’ from closed and completed transactions.  If we served those clients well from the very start, it is likely that two things will happen:

  • We will get some referral business
  • We will get some repeat business from the same client

We can do a lot with established relationships with clients and old clients.  It is just a matter of deliberate focus.  So the question is how do we keep the relationships active and fruitful?

Here are some ideas to help you build a ‘pipeline’ of relationships with clients and keep the ‘doors open’ for the long term.

  1. Industry briefings are always useful.  So much is going on in the market that clients find up to date information on trends and strategies very useful.  Guest speakers can be sourced to speak at quarterly events or evening property briefings.  Those speakers could include a property solicitor, accountant, developer, financier, and taxation specialist.  When you add people from your team to the group of speakers you have a very powerful selection of experts to talk about the local property market today.
  2. Newsletters should be sent monthly to all clients and contacts.  That will also include new people that are being contacted as part of the teams prospecting activities.  The newsletters can be sent by email or post.  The choice is yours and should be based on what works for you.  Quality is the key to maintain readership.
  3. Property listings should be sent weekly by email to those people that have agreed to get the information.  It is best to send no more than 8 listings in each email sent.  In that way you have a greater chance of the content being read.  If you work with different property types, you could send the property emails in groups based on the interests of the reader (retail, industrial, or office property).
  4. Constant contact every 90 days with clients and previous contacts.  It has been proven that the constant contact approach every 90 days converts to meetings quite well if you keep the contact up.
  5. Cross sell your services from sales, to leasing and property management at every opportunity.  One transaction will lead to another if you keep the doors open and the discussions on track.

If you have not kept in contact with your old clients, then now is a good time to start.  In difficult property markets every lead should be encouraged and built on.

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Commercial Realtors – Cold Calling is Really Tough but Essential

Business man talking on mobile telephone
Cold Calling is an important part of a commercial real estate career

When you work in commercial real estate sales and leasing, you will find that the cold calling process is really tough to get started.  That being said, it is still one essential part of being a good commercial real estate agent or realtor.

The biggest challenges in the cold calling process are a combination of the following:

  • The ability to get organised on a daily basis to make the right calls to new people can be a challenge.  Many salespeople are not sufficiently organised.  Connecting with new people is a critical part of the role of a salesperson.  Many that have been in the industry for a long time will selectively connect only with previous contacts and acquaintances.  Whilst this is partly appropriate, you still need to find new people otherwise your market share will not grow.  People come and go from the market, so you really do need to know who they are.
  • The research required behind the call process is ongoing and extensive.  The research required should be done in the evening ready for the next day.  This is an organizational issue on a personal basis.  At the end of the working day, the prospecting research still needs to be done at a later stage ready for the next day.
  • It takes about 2 or 3 hours every day to do your prospecting.  Many salespeople can’t find the time in their diary.  Your prospecting time should be focused to a core time where you expect to be able to connect with the right people in reasonable volume.  That may be in the morning, the afternoon, or the evening.  Whatever that time frame is, the prospecting process should occur.
  • The telephone can be your friend in the process however you are required to develop a good dialogue to create good conversions.  Practicing will fast track your dialogue and prospecting conversation.  There are many good books to help you develop the process.  Importantly the dialogue should be natural and convenient for you; don’t use words and phrases that are artificial and canned.
  • Many salespeople struggle with the rejection factor that comes with cold calling.  Many of the people that you call will not want to talk to you.  That is a problem for some salespeople.  It may take 50 rejections to find someone who is willing to meet with you.  On that basis you need to accept the rejection factor.  Over time your conversions will improve.
  • Most salespeople may try the calling process for only a short time and then move on to other prospecting issues which are more convenient and less mentally challenging.

So the prospecting and cold calling process is perhaps one of the most challenging aspects of your job as a salesperson in the industry.  You have a choice here.  Those that can master the process will always develop a better market share faster and more effectively.

When you look at a commercial real estate career, many opportunities exist in both property type and market segment.  That being said, the only way the opportunities can be nurtured is through the prospecting process.

If you have decided to make commercial real estate your road to better income and life opportunity, then prospecting will need to be seriously considered in your personal business model.  It really does not matter who you work for, but it doesn’t matter what you do.  You have a choice here.