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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.