In commercial real estate brokerage, the sales team or sales force should have a number of strategies supporting their activities and new business drive. Without those business tools, any listings and client conversions will be difficult to achieve and slow to develop. Don’t waste time, take deliberate action every day.
Make no mistake, the commercial real estate business today is very competitive. Those agents wishing to control and grow their real estate business will need special business systems supporting what they do and how they market themselves and their listings. We all have choices.
Why are you special? Your answers are important if you want to grow market share. Here are some critical strategies today that can help you with client and listing coverage:
- Get in front of the people that need you – There is no great secret to the commercial real estate business and the industry overall. You have to get in front of the people that need you now or in the future, so that they can relate to your skills and relevance. They have to remember you at the right time when ‘property’ becomes an active issue. It takes months if not a few years for a client to move to the next stage of property choice and or action; when that happens, you want them to remember you and give you a call. Establish a prospecting system that takes you closer to the right people in your location.
- Why are you relevant? – This is a simple question and yet the answer has to be very special to the client. So many agents and brokers come up with answers that are ‘self-focused’ with no real deep client significance or leverage. They say things like, ‘I provide the best service’, ‘I know the market’, ‘I work for the client’, and ‘I work hard’. The issue here is that none of those statements will have any great importance to a client or prospect; just about any agent will say the same thing when it comes to relevance. It is far better to have answers that are deep and useful to the client such as, ‘The database I have created covers all local medium sized businesses in a 20-mile zone’, or ‘I have a list of businesses here and now that are looking to relocate in the next 6 months’. There is a degree of client relevance in the latter statements. It will be hard for a client to ignore an agent with that level of market coverage and control. Use your database as a point of leverage.
- How can you attract and control your brokerage opportunities? – I have heard of many agents and brokers that keep spreadsheets and basic lists of the people that they know. In most cases those agents and brokers are not comprehensively growing their lists every day, and are failing to get back to the same people over time. It is important to remember that in most new business opportunities you will never really know when a client or prospect will have a property challenge. You have to rely on them to remember you and give you a call. Keep in regular contact with all the people in your database and monitor them for property action and property pain. Somewhere in that level of assessment will be a listing and or a deal.
There are plenty of listing opportunities out in the local area for you to action and move on. Everything in our industry comes down to people and relevance. Do you know enough people? Are you relevant in every way possible? If not, you have some work to do; get busy.