commercial real estate training

Competitive Advantages with Systems and Procedures in Commercial Real Estate Agency

So many salespeople in commercial real estate struggle with getting things done.  Each day many pressures and client challenges will shift your focus (or try to).  Before the end of the day you will feel that nothing of importance has happened.  Here are some tips from our Commercial Real Estate Newsletter.

There is a saying that ‘a person that feels in control will get a lot more done’.  Feeling in control is just a mindset; however it helps a lot when you are a commercial real estate salesperson that is responsible for earning a good income (or trying to).

When you look at your job, career, and real estate agency, you can see lots of tasks that if well done, can help you get good results.  Here are some key systems that you can optimise and improve on.

  1. Develop a marketing information packet that you can send via mail or email very quickly to a client, property owner, investor, tenant, or business owner about the alternatives and services that you can offer them.  The marketing packet should be specific to sales, leasing, and property management.  Retail information packets will be different and much more unique than the others.
  2. Have a pre-listing or pre-presentation kit ready that you can send to clients a day or two before you meet with them to talk about their property.  The kit should contain market facts, examples of advertising, and samples of brochures, strategies of promotion for sales, leasing, or property management.
  3. Create procedures for canvassing and prospecting so that each day you can repeat processes that will help take you forward in your property market.  Don’t reinvent new systems; just repeat the ones that work for you.
  4. Your database should be well controlled.  I am a great believer that a database is a personal process that cannot be passed on to others.  In only this way will you take ownership of what you need to do and that will ensure that the information is correct.
  5. Client contact systems will always be of benefit.  It is a fact that more listings will put you under pressure.  Open listings are a waste of time, but exclusive listings and their clients need to be well serviced.  In most cases, commercial real estate agents can only handle up to 20 exclusive listings at any one time.  Beyond that point you will be out of control and stress will take over.

Look at the things that you should be doing every day.  Learn to delegate mundane ordinary tasks to the administrative staff that support you.  If you do not have the benefit of administration support then, the only way forward is to systemise everything that you do.

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.