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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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Get Permanent Results with the Commercial Real Estate Brokerage Fundamentals

city buildings

In commercial real estate brokerage, you can do plenty of things to grow your market share and your client list. That being said, you can also do far too many things and lose focus.

It is always best to remain diligent and persistent at a personal level to a few special processes that can drive your business forward.  (NB – you can get our free commercial real estate course here)

 

Simple is Good

 

Keep your business and your efforts simple and direct; that’s the secret to getting anywhere in the industry.  Action is very powerful if it is deliberately directed into the things that really matter; they are usually clients, properties, marketing, inspections, and negotiations.  Nothing else has priority in our industry.

 

So what are the things that really matter in the industry, and what are the fundamentals to take you forward? Put yourself into your property business and market yourself accordingly.

Each and every working day, connect with new people, qualify them for the location and their interest in property, and then stay connected for the longer term.  Put yourself into the property market; the relationships that you build are really important in so many different ways.

 

Use the Marketing Tools Available

 

Use the different tools of communication that you have available both online and off-line so that you can grow a profile of professionalism and market coverage. Most agents and brokers take an ordinary approach to communication today; you can do better than that. Use the marketing tools that are available at your fingertips and within your brokerage.

 

You are the point of difference that can drive more real estate opportunity over time. There are plenty of other agents and brokers in the location all chasing the same properties and clients. Your relevance and professionalism will be the factors of importance to take you forward as a top agent or broker.

 

Be Different but Relevant

 

Build some points of difference into your professional services, so that you can stand out as the agent of choice for the location. The clients that we serve understand the value of a highly skilled agent or broker with deep and meaningful market coverage. Clients will usually choose their agent or broker on that basis.

 

Here are some ideas to help you build your business from the essential and required fundamentals:

 

  1. Database growth – at a personal level, you should be building your database each and every day. You cannot and should not delegate the process. Talk to new and fresh people as part of your prospecting model, and then into the detail into your database records. Build your business on local area information and personal contact.
  2. Local area marketing – become a specialist for the location and market every exclusive listing comprehensively on that basis. When you have some listings to work with, you have plenty of reasons to talk to other people in a meaningful way. Use your listings to open the doors of opportunity and communication across the local area.
  3. Connecting with people – there are always plenty of people to connect with locally across the different industry segments. Deliberately research and communicate with business owners, investors, tenants, and property developers. The process of research takes time and effort, so you will need a segment of your day devoted to the required research.
  4. Understanding the property market – look at the factors of change in your area with a focus on listings, prices, and rentals. Understand the future supply and demand for the location, and also track the levels of inquiry for the area.
  5. Refining your professional skills – certain skills are more important than others in commercial real estate today. Put some real effort into marketing, presentation skills, and listing skills, so that you can move most of your listings to negotiation and closure. Every broker and agent should be practicing their skills in a regular and ongoing way. The industry is competitive, and yet the rewards are many. Position yourself for the best properties and the best clients through constant and ongoing practice.
  6. Building your relevance for the location – the clients that you serve understand the value of a top agent who understands the area and the property types. Build your relevance for the location so that you understand the streets, the buildings, and the levels of recent inquiry. When you understand what is happening locally, you can convert your listings more successfully and directly. Exclusivity is also a lot easier when you understand your location in a comprehensive way.
  7. Marketing properties – the properties that we list today can be promoted comprehensively both online and off-line. Look at the tools available to you when it comes to marketing, and then match those tools into the best methods of sale or lease as the case may be.

 

A successful transaction will usually be the end result of a carefully constructed marketing campaign directed at a target audience. That strategy requires effort and money. Always seek vendor paid marketing funds as part of your listing processes.

 

So the message here is that you cannot and should not complicate your real estate business as a broker or an agent. Simplify your prospecting and client contact processes. Market yourself deeply into a location as the industry specialist that the people are looking for.

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How to Get a Prospecting Pipeline Established in Commercial Real Estate Brokerage

city at night

When you start a career in commercial real estate brokerage, your new business or prospecting pipeline should be established quickly and comprehensively.  Its a personal thing that you cannot delegate.  (NB you can get our prospecting training in commercial real estate here)

What you are wanting to do here is drive new leads and opportunities your way so that you can establish a good list of clients and property opportunities.  That’s how the industry works.

Think about your client list right now. Here are some simple questions:

  • Could it be better?
  • Have you prioritized ongoing contact with key people into the future?
  • Have you segmented your VIP clients from everyone else?
  • Do you know where your next listings will be coming from?

So these are the questions that will have positive answers if you build a prospecting pipeline at a personal level in your real estate business.

In this audio program, John Highman, Commercial Real Estate Coach, talks about how you can build a good prospecting model that can work for your real estate business in a positive way.

You can listen or download the file here:

 

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4 Key Strategies to Help You Stay On Top of Your Game in Commercial Property

city building investment sales caption

Commercial property activity and hence brokerage should be simplified. Don’t overly complicate things. Establish a system that can work for you with a bias towards simplicity and action. That will then allow you to establish a plan of momentum and track the results that you are achieving.

(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)

It doesn’t matter with you work in sales or leasing today, a plan of attack is required using simple strategies and daily momentum.

Some agents and brokers frustrate their own progress because of a lack of consistency and persistence in certain tasks and strategies.  Don’t make that mistake.

Take control of your property career and drive your listings and commission conversions through consistent action.

 

4 Simple Steps

Here are four simple strategies to help you establish your game plan and professional profile locally as a skillful agent or broker:

  1. Talk to new people every day – you will need plenty of people in your database and client list. As a direct result of that requirement, talk to new people each and every day as part of a contact program and prospecting model. You will also need to connect with existing clients and existing prospects that you have spoken to previously. Use some local area knowledge and update information to make the conversions and the connections with people more successful. Relevance is the key to establishing professional communications in our industry.
  2. Condition your clients to the prevailing market conditions – throughout the year certain things will change in your property location and within the property categories. Keep a series of charts and statistics that relate to the prevailing market conditions. You can use those charts as a conditioning process in listing and negotiation activity.
  3. List your properties exclusively – avoid the open listing process. Open listings are of little or no benefit to you. Exclusive listings really do matter in our industry and will provide you with controlled listing stock. When you control the listing, you control the negotiation, the inspections and the marketing. The inquiry with an exclusive listing comes to you as the client’s representative. You can do more with that inquiry and shape the momentum of the deal.
  4. Consolidate and grow your database at every opportunity – from the very start of your career, establish a database and grow it each and every day. It is a personal process and will require your total effort consistently and persistently. You cannot delegate the process. As you talk to new people, you can track the relationships that you establish, and the opportunities that you identify. The conversations that you create with new people will allow you to understand the pressures and the challenges of property ownership, investment, and occupancy.

Look for the pressures of the property market and the people that are needing some pressure relief. Segment your database into locations, client types, and timing requirements.

Every time you create a new listing, revisit your database and see if you can create a match or a short list of people to discuss the listing with.

Many transactions today are the result of off market listing activity and database contact. The conversations that you create as you build your database will be very important to your professional career. Practice the process and improve your client list.

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The All Powerful Networking Event Concept for New Business in Commercial Real Estate Brokerage

city view commercial real estate audio

In commercial real estate brokerage, you can and should mix and match your prospecting activities to the market conditions and target market.  You can get involved in networking events and meet new people that way.

In this audio program, John Highman talks about the important prospecting concepts that help brokerage growth and opportunity.

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A Goldmine of Commercial Real Estate Leads and Information in Local Businesses

Businessman standing in blue and gray cityscape uid 1460546
Know the local businesses located in all your targeted commercial buildings.

When you work in commercial real estate brokerage, the local business community can be a great source of leads and opportunities at a personal level. Use that fact as a point of leverage in getting your brokerage business underway or at the times when you require more clients and listings.

(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)

It is a simple fact that local businesses are very close to or aware of the activities of property owners and property investment. Those local businesses will hear about things and see things before you do. They will know about changes and pressures; that is where they can be of help to you. In saying that, you really do need to approach them in the correct way.

 

So what can you do with this?

 

Consider your current area and city. Understand where things are changing and what the local business owners think about that. Try these ideas and strategies for starters:

 

  1. Businesses under pressure – given the changes in the economy in most countries, some business segments are looking to adjust. Property occupation or use can be part of that adjustment. Ask questions locally of all the local business owners and occupiers; read the local newspapers. You will find those businesses thinking about change.
  2. Higher occupancy costs – when the rents go up, some businesses will start to look for other locations and other buildings to occupy. Pay close attention to the levels of occupancy cost, rental, and outgoings as they apply to property occupation locally. Different building types will have different cost averages to watch and work with. That is where specialization can help you move into a market share and find the new business.
  3. Expansion or contraction – when you look at single businesses in particular locations, you will see the physical signs of space and occupancy pressure. Perhaps those businesses with little or no storage capability, or not enough space. When you see the problem, make the call with some direct questions.
  4. Landlord difficulties – some landlords are really challenging for their tenants from an occupation and lease position. Some landlords try to squeeze the maximum rental from the asset without due regard for property performance and presentation. When this becomes a factor of property occupation, then the tenant will soon be thinking about moving.
  5. Property failure or age – older buildings create problems for tenants and customers. That pressure will bring about business frustration and movement. The same can be said when a new property development is evolving in an area. The older properties will start to feel the restraints of redundancy. That’s where you can get involved.
  6. Vacancy factors – you will see precincts where the vacancy factors are rising. The same can be said with particular buildings. Some buildings will always be hard to lease. Some property precincts will become less attractive to business owners and investors. That being said, there are factors of change and redevelopment that will provide brokerage opportunity.
  7. Strengths and weaknesses – when you look into a location you will see certain factors of strength that attract new tenants and occupancy. Those strengths can always feature in your property prospecting activities. Use of the strengths of a location and or property type to put some momentum and activation into your prospecting activities. Watch out for the weaknesses that apply to any zone or property type. The weaknesses in a property zone can give you some leverage, as people move and change out of the area.

 

So the message here is that you can use the local business community to find the opportunities relating to commercial property investment and brokerage. Ask plenty of questions, capture the information into your database, and keep in regular contact with the right 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)

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Local Lead Generation Rules in Commercial Real Estate Brokerage

Laughing businessman talking on telephone uid 1280280
Establish your lead generation system for commercial real estate brokerage

In commercial real estate brokerage, you can find plenty of opportunity locally when you delve into the factors that support and drive the business community. When you understand the business community, you can turn that understanding into property leasing and sales activity.

(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)

Property Investments thrive and change when the local businesses are growing and relocating. As part of your brokerage prospecting model, get to know what businesses are doing and what they are thinking when it comes to growth and location.

Don’t be ‘Average’

Far too many agents and brokers wait for the listing opportunity to come to them through some inbound telephone call to the local real estate office; that is the slow way to grow market share.

If you want to get anywhere faster in our industry, then get out into the property market daily and talk to local business owners.

Find out what they are thinking about the pressures of their business and industry segment; some business segments are more active than others and that is what you can work with.

Ask questions about:

  • More or less space
  • Growth pressures
  • Head office changes or merges
  • New businesses moving into the location
  • Improvements serving the business needs
  • Access to transport or end user markets
  • Lease duration or end of lease
  • The decision maker involved in finding new business locations

As an extension of this idea, you can work with particular types of businesses such as:

  • Franchise groups
  • Bulky goods warehousing
  • Manufacturing
  • Storage
  • Transport

So when you put these variables into a ‘local area equation’ of prospecting for new business, you can ask some valuable questions about business intentions, shifts, pressures, and requirements. Don’t be afraid to talk to new local people.

Local area business

Most of your new business will come from the local area. You want people to remember you so get out into your zone or territory and talk to the right people in a positive and direct way. Do these things:

  1. Create a list of streets for your location where the better businesses are located.
  2. Segment the businesses in size or type.
  3. Research the leaders of each business before you make the call or contact.
  4. Look for any property pressures in the location by travelling the streets and looking for the tell-tale signs of pressured property occupancy.

The good thing here is that there will always be local businesses looking for help in finding new premises. Whilst it is always good to know the owners of properties, you should also get to know the occupants as businesses as well.

Somewhere in that owner/occupant awareness, you will find property change and churn requirements. Grow your property market on the basis of local area awareness. Talk to more people every day and build your business directly.

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The Importance of a Winning Mindset in Commercial Real Estate Brokerage

audio headset
Commercial real estate training MP3

In commercial real estate today, there are all types of challenges to work with and through.  Clients, listings, and negotiations are usually not what you expect.   The bigger picture of the deal or the negotiation can change when you lease expect it.

The key to moving through some of these problems will be in be in  personal mindset and focus.  Confidence starts to grow when you feel under control in your real estate business with a decent market share.

Here are some notes on MP3 audio about the importance of developing a Winning Mindset as you strive to attract more clients and listings in the coming year ahead.

 

 

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

man standing on ladder.
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)

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Commercial Real Estate Online Podcast 223 – Sales Topics for Commercial Real Estate Brokers

Its the end of the financial year.  A turning point in the market where some businesses and clients consider property occupancy, leasing, sales, and acquisitions.  Its a good time of year for brokers and agents to get back into the growth phase of what we do.  From now until December 2015 we have clients to call, listings to convert and commissions to raise.

In this podcast I am focusing on Sales related topics to help Brokers and Agents with market share and database growth.

The topics are:

  1. How to systemise the commercial real estate business and why that is a good idea.
  2. What you need to know about simple contact management systems.
  3. How to improve your prospecting efforts for the year ahead.
  4. A 3 stage formula of action for Brokers and Agents this year.

These are commercial real estate audio coaching programs for sales and leasing agents.  You can get more of these files and updates as part of our eCourse right here.

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Why More Appointments are Required in Commercial Real Estate Brokerage Prospecting

real estate appointment generation
Commercial real estate training by John Highman

 

In commercial real estate brokerage most of the new business that you create will be through ongoing prospecting and appointment creation. If you are finding that the property market is a bit tough or slow, then take a serious look at your prospecting model and activities on a daily basis.

  • Can your processes be improved?
  • Can you spend more time on connecting with the right people in the right way?
  • How will you show them your relevance as an agent for the location and the property type?

They are interesting questions that all require specific answers.

In this Appointments are Everything in Commercial Real Estate I have covered some specific ideas relating to appointment generation and direct prospecting in our industry.

The ideas will help you get back in to the key issues of the market and property opportunity existing. There will always be people looking for solutions and strategies surrounding office, industrial, and retail property. They need experts to help them move through the challenges and the stages of investment property improvement or occupation.

Why are you special?

The clients and the property prospects in the market today need to know who you are, why you are so special, and how you can help them specifically with property market trends and opportunities. The personal marketing process and requirement in today’s commercial real estate brokerage is very high and specific.

The skills required in selling, leasing, or property management activity today are quite specific and direct. Gone are the days of generic Property Marketing and openly listing properties. Exclusivity is the only way to dominate market share over time. Actively pursue the Appointments are Everything in Commercial Real Estate as part of your property presentation pitch and presentation.

You can get our free online Commercial Real Estate e-course right here.

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The Best Time Management Tips for Commercial Real Estate Brokers

two men walking across street talking
Build your real estate team performance.

In commercial real estate brokerage today don’t take too long to take the required actions to boost your marketplace and client penetration.  Get involved with your market so that you can identify the right property listings and the quality properties to work with over time.

There are plenty of good listings available for the agents that focus their prospecting efforts.  It just takes a plan and a process of action.

Here are some valuable ideas to help you take deliberate action to boost your marketing profile and listing opportunities:

  1. Any listed property in your location is an excuse for you to talk to the surrounding property owners. On that basis you can market yourself to the adjoining or nearby owners of properties listed with other agents.  It is quite common that nearby owners will seek to compete from a sales or leasing perspective with the listed property nearby.  You can be the brokerage solution to that process and have a signboard on that alternative property promotion at the same time as your competing agents.
  2. Devote 2 or 3 hours per day to the prospecting and marketing process. There is absolutely no reason why you should be in the office sitting behind a desk unless you have a deal to negotiate or a client to meet.  The rest of the time you should be out of the office talking to new people and finding new opportunities.  That should be your focus for 2 or 3 hours per day.
  3. Make plenty of calls every day to new people. Use your mobile telephone comprehensively and directly as part of a cold calling process to people within your property market.  Make plenty of outbound calls every day, and as part of that have a focus on creating new meetings.  Make it a personal target to establish two new meetings per day with new people.
  4. Identify the best properties and the best clients. Undertake the required research of your property location and your targeted territory of listings.  Understand exactly where the best properties are located and as part of that process determine who the owners are in each case.  When you focus on the quality side of new property business and listing generation, the inbound enquiries tend to be more substantial over time.  That can then help you rise to the top of your property market as an industry specialist for the location.
  5. Ask for referral business as part of client interaction. With every positive client and prospect meeting, there is the opportunity to ask for referral business.  It is far easier to convert commercial real estate business from referrals than it is from the cold calling or direct prospecting process.  Merge the referral business process into your client and prospect interaction.  One successful contact can lead you towards many other property owners and business decision makers.

So there are some very specific things that you can do here in commercial real estate brokerage as part of boosting your personal profile and market share.  The best way to do that is by taking immediate action in your local market place, your town or your city.  Talk to plenty of people in an ongoing way.

Get our free eCourse on commercial real estate brokerage right here.