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The One Thing that Makes All the Difference in Commercial Real Estate Brokerage

address book
Develop your marketing process in commercial real estate brokerage.

 

A career in commercial real estate does not need to be complicated but it does need to be focused.  Above everything else that you do in the industry, one thing will stand ‘head and shoulders’ above everything else as a success factor.

Exactly what is it that will help you convert more listings and commissions?

The answer to the question is quite simple; it is the number of people that you know at a personal level who are the relevant players in the property industry in your town or city.

That is the most important factor to incorporate in your marketing efforts and professional promotions.  Get to know the right people in a comprehensive way.

Database focus?

If you are looking to build your career as a commercial real estate agent, or perhaps you are looking to improve your market share, take a serious look at your database and the depth of relevance you have created with every prospect and client.  Those people need to know you as the best agent locally for the property type and the location.

In keeping your real estate career simple and direct, as well as successful, look at your database and the communication processes associated with it.  Here are some ideas to help with that:

  1. Over time you will find that some people or clients will fall away from the property industry and become less interested in buying, leasing, or selling.  For this very reason you do need to top up your database continually with new people and fresh contacts.  That is then a prospecting strategy.
  2. You will find that many people will take months if not years to take the next step in property activity.  For that reason your database should be structured around a pipeline process and a staged level of contact.  Every 60 to 90 days you should be connecting with the best people within the database in a relevant and real way.  That will help you build a professional profile as a top agent and industry professional.
  3. As in any other professional sales career, your communication and negotiation skills will be critical to the outcomes you achieve.  Practicing those two skills will help you improve conversions from listings, inspections, and negotiations.  Develop a practicing process that you can merge into your weekly or daily diary; role plays are valuable to help with the challenges of the property market as they apply to your industry type and location.  Keep practicing the challenges that you see every day and develop real responses that you can give to solving the problems your clients may have.

It is quite clear from this simple strategy that you do need to know a lot of people in your local area.  Those people should be recognized prospects or clients that are acting or will act on a property investment situation now or in the future.

Take a simple and direct look at your database processes.  Understand how you are finding new people and connecting with them over time.  Improve your client and prospect connections at every opportunity and practice your professional communication skills to suit the challenges of today’s property market.

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Commercial Real Estate Client Opportunities

woman using laptop
Focus on your commercial real estate clients.

In commercial real estate agency and brokerage today, it pays to understand the needs and requirements of all of your top clients.  Those issues will change for those clients throughout the year with the seasonal pressures of property activity and the economy.

Put yourself into the position of the client that you serve, and provide tactical and strategic property information to optimise ownership opportunities; in doing so help their investment performance.

Here are some other variables that will have an impact on your top clients:

  • The supply and the demand for property locally within the property type
  • Upcoming new property developments within the region
  • Vacancy factors impacting tenant enquiry with investment properties
  • Changes to the zoning or development regulations as they apply to the precinct
  • Property redundancy and or change
  • Changes to the roads and infrastructure supporting property occupation and use
  • Shifts in business sentiment applying to a property precinct or property type

Taking all of these factors into account, the prices and the rentals within your territory will change significantly throughout the year.  As the local property specialist, your clients really do need your assistance with the knowledge and intelligence that you can bring to their investment performance.

Sometimes we tend to overlook some of the key clients within our market place.  Quite soon the competitors and the other agents in our industry are grabbing a significant slice of our market share.

Within your database today, establish a special service process for high value customers and property owners.  It is almost like having a VIP club within your database.  Service those special clients with highly specialised property information; that can be through regular updates on supply and demand, and tips regards property performance.  Over time you can become the agent of choice when it really matters most.

Here are some ideas to help you with client communication and servicing:

  1. All of your clients and customers should be asked to join your database.  As part of that process, ensure that they are comfortable in getting emails from you together with newsletters on local property activity.
  2. Your VIP clients should be spoken to personally at least once per month.  Stay ahead of the local property changes within the precinct and around their particular property location.  Give the client updates regards the location and the precinct.
  3. Identify any competing properties nearby that could have an influence on the performance of your client’s property investments.  Look for any exposures or risk that can flow back to the tenancy mix or the income base for your client’s asset.
  4. Write a regular industry update or blog regards local property activity, and changes.  Link that update or blogging process back to your social media activities and your database.  You can also link your informative blog to the regular newsletters you send out to your clients and prospects.

 

The best client relationships in our industry are built on trust.  That trust takes time to establish however it will bring you significant opportunity over time.  Top agents build and encourage good client relationships.

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How to be a Top Commercial Real Estate Agent or Broker Today

Lots of people work in a commercial real estate agency and brokerage.  Only a small number are really good at the process and can be considered ‘entrepreneurial’.   We call them ‘Top Agents’.  They work really hard and do the right things every day.

Can anyone rise to the top of the industry and dominate the market as a ‘Top Agent’?  The answer is always ‘yes’; in saying that, they need to be very skilled and have an open mind to learning and improving as a professional in the industry.

Over the years you will see so many different situations that you will need to adjust to or handle.  When you make those adjustments, the opportunities open up for you as an agent or broker in listings and clients.  Seek to improve your processes and systems so you are comprehensively covering your territory and property specialisation.

So what can you ‘tap into’ in the local property market today?  Try some of these:

  • Property investors looking to grow their portfolio with quality stock
  • Tenants looking to relocate into a better property
  • Landlords with vacant premises that are dragging down their rental income and cash flow
  • Corporate tenants that are looking for expansion or growth solutions for the business
  • Clients that you have previously serviced that may want more help or could be changing focus
  • Solicitors or Accountants with property clients that need to make some property changes
  • Property investors that require property management services to help them get though leasing and income pressures

So can you help with any or all of these?  Of course you can; it is simply a matter of marketing yourself accordingly.  Comprehensively and persistently promote yourself into the local area and those people in the list above.

The cycle of commercial real estate is long and may take months if not years for some clients to get to the next point of action.  If you stay in regular contact with the right people in the right way, the leads and the listing opportunities will come your way.  The message here is clear; work hard and the business will come.

It is interesting to note that many agents and brokers that are new to the industry will usually take on any listing just to get some stock. Whilst that may be appropriate at the early stages of a career, they should start to focus on exclusive listings and quality properties.

You can get more tips like this in our Commercial Real Estate Training Newsletter right here.

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Position Yourself as a Top Commercial Real Estate Agent

commercial real estate agent talking to tenant
Commercial real estate agency is a great opportunity today.

It is no secret that the commercial real estate industry is quite competitive.  Most of the clients and the listings that you work with will have some impact or involvement with competing agents.  This then says that you need to stand out as the best agent of choice with the correct amount of experience and knowledge to the property type.

Let the client make the choice when it comes to the best agent for the property listing.  Show that you have the confidence and knowledge that’s more relevant to the client than those competitors around you.

This then says that your presentation and sales pitch process needs to be of the highest quality.  This is a positioning process and requires ongoing daily strategy.  Here are some ideas to help you dominate your market share and increase your client or customer profile:

  1. Don’t be too eager to take on every listing that comes your way.  Look for quality properties and quality clients.  Stay away from the bottom end of the market where listings are too hard to move or distressed clients are not being flexible on price.
  2. Specialise in a property type in your local area.  Research the trends when it comes to time on market, supply and demand, pricing, rentals, and marketing strategies.  Understand what works and give your clients clear reasons for accepting that information.
  3. Use a checklist as part of your client meetings and client discussions.  Let the checklist improve your questioning process and responses.  In that way you will be more professional than those agents that rely on memory rather than establish systems.
  4. Develop a series of stories that relate to the local market and your property speciality.  Stories will always help you when it comes to the property presentation and the interest of the client.
  5. Carry with you a selection of marketing alternatives and marketing successes in the local area.  Chart the trends from the inbound property enquiry when it comes to each property type.
  6. Build your profile personally on the Internet through social media, blogging, and article writing.  Those three things would do a lot for your personal branding as an industry specialist.  That being said, they do require time and ongoing effort.
  7. When a competing agent puts a signboard on a listing in your territory, talk to the other property owners and the businesses in the immediate vicinity.  They may wish to compete with that property already listed.
  8. Build a database that you can use as leverage with your client meetings and discussions.  Is very hard for a client to ignore a large database of relevant and accurate information.  Show the client as part of your sales presentation that you have a number of prospects already available to inspect the property when the listing has been agreed.

Simple processes like these allow you to position yourself as a top agent of relevance and success.  The clients that we serve, like to work with the best agents in the local area; we need to give them the reasons to choose our services over others.  Develop the skills, the knowledge and the experience that will help the client work with you when it comes to existing property needs and challenges.

You can get more commercial real estate training tips in our newsletter right here.

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Marketing Ideas for Commercial Real Estate Agents

commercial real estate agents meeting
Market every property with focus and relevance.

In commercial real estate agency, the marketing process that you choose today will have significant impact on the outcomes that you require with new inspections and fresh negotiations.  Every property that you take to the market should be carefully structured into a targeted marketing campaign.

Here are some more marketing tips from our main commercial real estate training website.

It is interesting to note that most commercial real estate markets change throughout the year and will have seasonal selling and leasing cycles.  This then says that the timing process and the method of marketing that you choose for a property will be quite important and seasonally adjusted.

Here are some marketing tips to help you with promoting a listing and optimizing the enquiry that you achieve from the promotion.

  1. Review the property with the client prior to forming any opinion on marketing or promotion.  Walk around the property together to look at the strengths and weaknesses that the property provides.  Ask the client about the history of the property and the reasons for their actions today in seeking a sale or a lease.  Get to the key facts of client motivation today.
  2. Given the previous point, you can now relate to the other properties in the market that may be competing against the subject listing.  Show the client some of those other properties and provide details of current marketing efforts, prices, and rents.  Your new listing needs to be well positioned in comparison to other listings for attracting better enquiry.  That can very well mean a particular method of sale or lease and choices about marketing.
  3. At any given point of time, the enquiry coming into your office relative to different property types should be tracked.  The tracking process will help you with conditioning clients in the listing and marketing process.  When you understand what is working to get more enquiries, you can take better actions with each property type.
  4. Will the property require any preparation work prior to marketing?  The first three or four weeks of any marketing campaign are quite important.  Your enquiry rate needs to be optimized for that time frame.  Any hurdles or obstacles that can be seen in the property when inspecting should be removed prior to commencing the campaign.
  5. Clearly define the target market for the listed property.  Ensure that the choices you make in promotion are matched to the target market in every respect.  Exclusive listings require much more effort when it comes to promotion.  They also have a significantly higher conversion factor to a successful transaction.  On this basis you should be encouraging the client to choose the exclusive listing process for their property.

Today we are blessed with the technology and the resources that will help us promote a property listing directly and effectively.  Package the listing correctly for the client so that you can optimize the inbound enquiries for the property, and therefore gain more inspections and negotiations.

You can get some more training tips and ideas for commercial real estate agents from our main website.

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Important Roles in Commercial Real Estate Agency

two business men talking in street
Know your roles and responsiblities as an agent.

In commercial real estate agency today, you need to manage the most important roles that help you build your listing and commission business.  When you do this efficiently and effectively, market share and client growth will get a lot easier.

Here are some tips from our main website http://commercial-realestate-training.com/

The generic approach to commercial real estate agency really doesn’t work.  Today each and every agent needs to be quite specialised and focused when it comes to the services that they provide, and the sales territory that they work.

The roles that are central to your real estate business and your sales territory will be all of the following:

  1. Prospecting through the local area to identify the right properties and the right property owners to act for.  Connecting with new clients and prospects should be a daily event.  The prospecting process will take approximately 2 or 3 hours per day from your diary.  Regardless of that time commitment, the process needs to be implemented and maintained. That is how you grow market share.
  2. Maintaining a profile locally when it comes to your specialized property skills as a real estate agent.  Personal branding is a central part of a real estate agents profile.
  3. Tracking the activities of other agents when it comes to competing properties in your sales territory or patch.
  4. Helping clients when it comes to solving property challenges in sales leasing or property management.
  5. Understanding the activities in the market today relating to prices, rentals, time on market, and marketing solutions.
  6. Building a personal profile on the Internet that will help you to be recognized as a relevant and specialized real estate agent for the local area
  7. Taking a client and their property through the requirements of listing, marketing, negotiation, and property documentation.
  8. Understanding the factors of property performance that will help you package an asset for improved income and potential sale.

You can probably add to this list based on your area and your property specialty.  Clarity is important when it comes to understanding your roles as a specialized property agent.  The generic approach to real estate agency really has no place in this market.  Generic agents lose a lot of money and waste a lot of time as part of the process.  Top agents drive much more business and deliberately so.

Some of the things in this list above will be much more important than others if you are to be a top agent.  When you set the right priorities and stick to the process of implementation, the business gets a lot easier.  This then says that you must protect your time as it is the most important resource that you have as real estate agent.

When you look at your average business day and the tasks that need to be undertaken, three and four issues will be far more important than the other things on the list.  Recognizing the differences in the tasks and taking the right action towards them will help you consolidate your market and listing growth.  Control your day and control your agency efforts.  The rewards will soon come.

You can get some more tips like this at our main website http://commercial-realestate-training.com/

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Tips for Being Entrepreneurial in Commercial Real Estate Agency

business people meeting
Focus your commercial real estate agent efforts.

In commercial real estate agency today, you need to be an entrepreneur in your business practices and your focus.  Your successes in the industry as an agent will come from your personal endeavors.

The agency that you work for will have little to do with the process of building greater personal commissions and generating listings.  Successful agents are individually driven and have a comprehensive marketing plan to promote themselves comprehensively through the region that they work in.

There are some very simple strategies to apply here if you wish to rise to the top of the market.  That being said, all of those strategies require personal effort and deliberate focus.  They take time and effort each and every working day to implement effectively.

Here are some of those strategies to help you develop the entrepreneurial mindset of a top commercial real estate agent:

  1. They say that you can learn a lot from experience.  You can also learn a lot from the other top agents in the area.  Whilst some of those top agents may work with competing agencies, you can observe what they are doing and how they do it.  You can replicate their successful processes when it comes to knowledge, skill, and marketing.
  2. Every client that you serve today will be an opportunity for repeat business in the future.  The cycle of commercial real estate is quite long and on that basis your relationships will need to be built and nurtured.  Focus on quality clients and quality properties.  It is the quality properties that will bring you more enquiries from any marketing campaign.  Poor quality properties bring poor results.
  3. Referral opportunities can be generated from successful transactions.  Stay close to your clients, customers, buyers, and tenants as part of closing a transaction and moving on.  Ask for the referral at the right time.
  4. There are certain skills which are absolutely critical to the services that you provide as an agent.  You should have significant skills in prospecting, presenting, marketing, inspections, negotiations, and documentation.  These six aspects of your career require constant upgrade and practice.  When you do this, it makes it a lot easier for you to rise up in the ranks of the commercial property industry.
  5. Every listing, sale, or lease is an opportunity to talk to other people in the local area.  Send a direct letters to the local property owners and the property investors as part of your marketing efforts.  In many respects, one single listing can allow you to talk to several hundred people.  It is simply a matter of developing a mindset to do it and commencing the process.

If you choose to be an entrepreneur in commercial real estate agency today, you do need to take a serious look at your business activities and systems.  They will help you take advantage of the local property market providing you implement the appropriate action on a daily basis.  Success in this industry is driven from personal activity and nothing else.

Want more? You can get more tips or join our Newsletter at our main website http://commercial-realestate-training.com/

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How to Sustain Peak Performance as a Commercial Real Estate Agent

graph of sales results
A top agent requires a performance plan.

In commercial real estate agency it is essential that you sustain peak performance when it comes to undertaking the daily business of an agent.  Peak performance can be many different things for each of us, however in our property industry it usually relates to client contact, prospecting, marketing, and negotiations.  It is a very personal process.

Here are some tips from our Newsletter.

The agents that are struggling are usually the ones that have little focus on the key issues that really matter.  It is very easy to get tied up in mundane and ordinary issues.  You can be ‘busy’ doing all the wrong things; you can also be ‘busy’ chasing hope in a sale or lease, and distant deals that you have been working on for months if not years.  A good degree of selective work is required to build and maintain your income.  Understand the difference between a good deal that has a reasonable chance of success and one that is really a great waste of time.

The key issues in our industry relate to building the business, converting the business, and establishing a strong market share.  Peak performance has something to do with that.  Here are some tips to help you:

  1. Segment or split your day into the things that really matter.  They are the things that will help you build your business, listings and commissions.  If you put a title to the tasks they will be prospecting, client contact, and marketing.  Those three things will allow you to inspect properties with the right people and negotiate on more deals.
  2. Identify the key issues, clients, actions, and tasks that are closest to the money and commissions.  Avoid anything that cannot give you a lead or a commission.  Your income depends on your focus and actions.
  3. What exactly are you really good at (in commercial real estate business)?  Hopefully your skills are in connecting with clients, finding listings, and marketing.  When you understand what you are good at you can do more of it.  If you are not a top performer in some critical things then you will need to improve.  Practice will be required.
  4. Enjoy what you do.  Passion and attitude has a lot to do with moving your market share forward.
  5. Look for the top agents in the local area.  See what they do and how it works for them.  You can replicate their skills and actions.  Watch and learn.

Simple things like these five will help you move ahead as an agent in commercial real estate.  Control your time and your focus.

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Grab Prospects Attention as a Top Commercial Real Estate Agent

two business men talking in street
Develop a sales character to grow your market share in commercial real estate.

When you grab the attention of the property investors and tenants in the local commercial property market, you can rise to the status of a top agent locally.  In this way you can attract more listings and clients.  Every agent wants to do this; but you need a plan to get there.

It is not overly easy to rise to the top of the industry.  It takes real effort from you personally and the establishment of your own marketing plan that you can stick to.  Each and every day you follow the steps in your plan.

Here are some ideas to help you get started:

  1. Signboards throughout the local area will be very important.  Most of the deals that we do in sales and leasing are done with people from the local area.  The signboard will help you get the message across the region of just who you are and what you have available by way of quality listings.
  2. Direct marketing around every listing will be critical.  Every listing is a great opportunity for you to talk to other business owners and investors in the area.
  3. Success letters and flyers should go out into the local area from each successful marketing and listing campaign.  Sell your successes into the region.
  4. Prospecting requirements will always exist.  They do not go away.  Get on the telephone to make cold calls every day, and also visit people in your territory.  Personal contact is really important.
  5. Top marketing systems and campaigns will strengthen your profile as an agent to be watched.  If you market a listing in an effective and special way, the people in the market place will notice you.  That’s what you want.
  6. The best listings will produce more enquiry than ordinary ones.  Get the best listings on your books and market them comprehensively.  Be known as the agent with the best properties to sell or lease.
  7. Conversions of listings to sales or leases will be a factor of importance.  You can have a lot of listings, but if they are not moving, then you have some more work to do.  Promote each exclusive listing in a comprehensive and positive way.
  8. Editorials for each good property should be encouraged where the media will cooperate with you.  The fact of the matter is that the traditional newspaper media is fast becoming redundant in property promotion, however they do like to boost readership and a quality local property will help them do that.
  9. Internet based marketing, Blogs, and Social media, are all parts of the more mainstream marketing effort in commercial and retail property today.  Make sure that you have everything under control.

Today you must market yourself as well as your properties.  When you get the balance right, it is much easier to rise to the top of the local property market as the agent of choice.

You can get more tips like this in our Commercial Real Estate Agent Newsletter right here.

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Base Line Procedures to Build Better Commercial Real Estate Agents

man looking at paper
Build your agency systems in commercial real estate

As a commercial real estate sales agent, you will get benefit from establishing systems to list, market, and negotiate on your listings.  The fact of the matter is that systems will help you stay under control when things get busy or change.

The property market changes from time to time.  Currently there are lots of properties for sale and fewer buyers that can put a purchase together.  Given that our primary task is to sell a listing, you can develop some dedicated processes to help the overall sales and marketing process.

Commercial real estate sales is all about finding the quality listings, attracting the right enquiry, and converting the transaction.  To help you with the process and the outcomes, you can take a serious look at the procedures that can be improved in your agency, or personally.

Here are some core procedures that apply to the commercial real estate sales process today.  Review the ideas and test your existing processes and strategies.

  1. Create a marketing packet of information that can be sent easily and quickly to any person that requires more information from you.  The marketing packet will relate to a particular listing or a service that you can provide.  The marketing packet should be dispatched by e-mail and or mail very easily and quickly.  If you are sending the marketing packet via e-mail, ensure that the documentation is converted to PDF format.  In this way the layout and the presentational aspects of the information will be preserved.
  2. When it comes to commercial, industrial, and retail property, you can have specific prelisting kits that apply to the property type and the location.  Those kits will contain the latest market information, samples of advertising and marketing, some details regards your agency and the key staff, plus testimonials from previous happy customers and clients.  You may also have some market share information that proves your agencies relevance and specialty in the local area.
  3. Canvassing and prospecting will always be a critical component of commercial real estate sales.  Every salesperson should have a specific canvassing and prospecting program that they undertake daily and weekly.  In this way they can build their pipeline of opportunity.  On average, a top agent should be bringing in at least two exclusive listings per week.  Those listings should be controlled for a period of at least six months.  In this way those top agents can control the property enquiry and the client communication.  Over time these factors will give you better market share and better clients.  If you find it difficult to convert exclusive listings, then you need to improve your listing sales pitch and presentation.  That will require some practice, but over time you can achieve better conversions of exclusive listings.
  4. The marketing campaigns for the properties that you sell will be unique and different.  On this basis you will need to track the results of every marketing effort with every exclusive listed property.  Each week your marketing efforts should be adjusted to optimise the enquiry that you can achieve.  Be quite specific in your marketing effort, and ensure that every quality listing is the subject of a specific and well directed promotional activity.

A top agent in commercial real estate sales will have their job and their market share totally under control.  You can’t do this without having significant systems and focus into the local area.  If you are looking to improve your client base, commissions, or listings in commercial real estate this year, take a serious look at the procedures and systems that are currently being utilized in your agency and by you personally.

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Get Results as a Commercial Real Estate Agent in this Market

two commercial real estate agents talking in car
Top commercial real estate agents get results.

The commercial real estate market of today has some challenges to deal with.  In most cases it is a slow market or there is an abundance of unsold properties, and or vacant premises for lease.

The property market doesn’t disappear; it just changes.  That change factor is what we as commercial real estate agents can help with.  We become the ‘agents of change’ and can provide the right solutions for property investors, business owners, and tenants.  People need our help in many different ways.

If you are finding that things are a bit tough at the moment for you as a Real Estate Agent, have a look at the way in which you are doing things.  Today you need a ‘toolbox’ of solutions to help the clients and prospects in today’s property market.

Creativity and relevance are the two facts to aim for here.  Are you creative in marketing your properties for sale or lease?  Are you relevant as a top agent in this type of property market?  Generic agents struggle in this type of market because they do not have the ideas and strategies active to solve property problems for clients.

So let’s give you some ideas to put into your agent toolbox for commercial real estate sales and leasing.

  • Have all the market facts and information at your fingertips for the particular property type and deal that needs to be done.  You cannot change the client’s perception without the right information.
  • Check out all the competing properties locally before you meet with your client.  Be very familiar with prices and rents that are being asked.  Time on market assessments will also be of value in helping the client see what is going on today.
  • Have stories of success with other local properties and listings that you can share.  Most clients will listen to the experiences of other properties and clients.
  • Have alternatives for the client to choose from.  When alternatives are available, the decision to be made is less difficult.  Most clients will choose the ‘middle ground’ alternative.
  • When you list any property, set the rents and prices for today’s market.  The client’s perspective on price or rent should be challenged if it is too unrealistic.  You do not want to waste your time or theirs in the listing process.
  • Provide the solutions that the market needs including personal marketing systems that will allow you to take the listing to the right people in your database and the right local property owners.

Help the parties make decisions.  In many respects our clients and prospects are just looking for the right agent that can solve their issues quickly and effectively.

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The Perfect Cold Call in Commercial Real Estate Agency Today

commercial real estate agent on the telephone
You can perfect your cold call process in commercial real estate agency.

Most commercial real estate agents hate cold calling and will avoid it at all cost.  That simple decision costs them dearly in market share, leads, and opportunities.  If you are in the industry by choice, you will need to do some ‘hard stuff’.  Telephone prospecting is one of the most important to do.  Here are some tips for agents from our Newsletter.

Master Cold Calling

To work in commercial real estate agency you have to master the cold calling process.  Each day you should spend 2 hours on the telephone talking to new people that you have not spoken to before.  It is a time factor that requires discipline and focus.  If you can master the art of call prospecting, then you will rise to the top of your market a lot faster than most.

The big factor in moving ahead in the industry is for you to practice and refine your call contact processes.  Who should you call?  Here is a list:

  • Property owners
  • Property investors
  • Business owners
  • Owner occupiers of commercial and industrial property
  • Tenants
  • Property developers
  • Property professionals (solicitors, accountants)

When you look at a list like this you will soon know that some of these people are hard to find and contact.  For that reason you should call the people that are easy to find first and then research the rest on an ongoing basis.

Keep it Simple

Business owners are simply taken from the telephone book or by researching the businesses located in the streets in your territory.  You can call 40 of those per day quite easily.  As to how many you get through to, the number will be less than half; that being said, you simply make the calls and keep doing so.

In contacting property owners you will find that the process is slower and more tedious.  That is because the property owners can be hidden inside company structures or property trusts.  Allocate yourself a target of researching 1 new property owner per day.  At the end of the week you will have spoken to 5 new people that have a solid interest in quality property.  Over time that connection will pay dividends when it comes to leads.

Watch Out!

Making all these telephone calls is one thing, but you should be aware of the ‘Do not call register’ and legislation or laws that could apply in your area.  Do not break the law when it comes to making calls.  In most cases, the business people and owners that you call are not impacted in the same way that private people in residential situations may be.  Understand the calling laws and stay within them.

The perfect cold call is a systemised process that occurs every day to a plan.  You can develop your dialogue, call contact systems, database, and follow-up systems to take you forward.  Start practicing and you will get there faster.

You can get some more tips for Commercial Real Estate Agents in our Newsletter.