commercial real estate training

Time Management Tips and Tools for Commercial Real Estate Agents

As commercial property agents, we cannot manage time but we can manage ourselves.  When it comes to succeeding in the industry, you really do need a solid system of control when it comes to your business day.  When you get this right, you will drive better business for yourself in any market.

If you think any local property market decline is removing your market share and not giving you leads, take a look at what you are doing on a daily basis when it comes to networking and prospecting.  Top agents prospect every day and in any market, and they do it well.  Top agents do not suffer the same pressures as ordinary agents and the reason for that is their prospecting model and database.

Systems will take you forward, and will help you connect with the right people in the right way.  It all comes down to what you do with your time each and every day.  Many agents struggle with the pressures of the day and the market.  They have no system to ‘stick to’ and consequently cannot improve their market share.  Without consistent market share, your listing leads will decline as will your commission.

So if this sounds like you may I suggest that a solid ‘dose’ of prospecting will help get you back on track?  To get things going, here are some ideas.

  1. Review your market to see what is active and what is slow when it comes to property types and locations.  Look at all the listings on the market now and determine what marketing and agency strategies are applied in each case.  You will soon see that ordinary marketing does not produce results when the property market is sluggish and tougher.  Direct personal market is far more effective when general advertising and market fails.
  2. Let’s set some rules for direct marketing.  Focus on getting out of your office for at least two thirds of the day.  The other third of the day can be spent in the office with cold calls.  Paper work can happen after hours.  Similarly you can talk to clients at the end of the day when you have more time.  Property inspections occur in the afternoon on most days as required.  Prospecting occurs in the mornings.  As you can see, this is a routine.  Perhaps you can design a variation of this to help you in your market; importantly however, the system that you create must give you a solid focus on prospecting outside of the office.
  3. Keep in contact will all previously established leads and prospects, however make sure that you are adding new ones every day.  That is why cold calling is so important to your business model.

Top agents get frustrated when people impose on their time and waste it; generally they will not let others destroy their focus and momentum when it comes to a daily plan of action.  You should be the same and protect your business time in all cases and situations.   Devote time to the things that are really important.  This will help you consolidate your listings and new business leads.

By John Highman

John Highman is an International Commercial Real Estate Author, Conference Speaker, and Broadcaster living in Australia, who shares property investment ideas and information to online audiences Worldwide.