How to Create a Successful Sales Plan in Commercial Real Estate Brokerage

In commercial real estate agency, you do need to create a successful sales plan for yourself personally.  In that way you can reach your target audience and create the market share that you require.  There will always be a lot of listings to attract and clients to serve.  It is just a matter of finding them.

So what will be your special market?  Will it be sales, leasing, property management or projects?  Some of these things cross over to others so versatility is required.

A sales plan for an agent is quite a specific thing.  It allows you to focus your efforts on a daily basis into the target market of property owners and property investors.  Whilst there are different ways to approach the matter, here are some tips to help you.

  1. Define your market location on a map.  Use geographical boundaries and freeways to establish the area in which you will focus all of your prospecting.  There will be certain pockets of activity that will be of high priority within that zone.  Look for the areas of growth where the properties and the tenants are desirable and active.
  2. Determine the type of property that will be your property specialty.  Ensure that there are plenty of listings available in that segment as well as future growth opportunities and property churn.  To understand those numbers, you may need to access the history of property activity in sales and leasing over recent years.
  3. Look at the local development plans and intended changes to the zoning of investment property in the business segments of the town or city.  Can you see pockets of growth supported by council or planning approval action?  On a monthly basis visit the local planning office to see what is happening with new developments and the release of land for new developments.
  4. Understand the ideal clients that you will serve.  Are they property investors?  Are they the local businesses and tenants in your town or city?  When you can clearly define the segments of clients that you act for, the prospecting model becomes much more specific.
  5. Certain properties and certain property owners will be of high priority to you locally given the level of activity that they create.  These clients will become a key focus in your prospecting model.  Establish contact with these groups of people and keep the contact going.
  6. Some clients and prospects will be of a low value to you over time.  You will need to determine the ‘cutoff point’ when it comes to ongoing interaction and service with a prospect.  Don’t spend too much time with lower value people that cannot use your services effectively and professionally.  Respect your time and your fees for service.

Track and measure your prospecting activity through the region.  Understand just how your efforts compare to that of your competitors.  Practice your dialogue and improve your prospecting model.  Over time you will then find more people to serve.

Simple Sales Territory Tactics for Commercial Real Estate Brokers

When you simplify commercial real estate brokerage, the results that you get come down to a small list of specific things.  It stands to reason that if you get these things under control, you can generate more business, commissions, and good listings for yourself.

Working your sales territory will be one of those things that can help you with results.  Many agents look at their territory too generically and therefore miss the point of how to win the business.  Specific focus is required.

Here are some ideas to get you started with this:

  1. Set your boundaries so that you know where to focus your efforts.  If you work a large territory, break it up into smaller segments and zones.  Create a map of the area and segment the territory into zones that can be colored for priority and focus.  Each zone should cover approximately 500 properties and or businesses.
  2. Understand the clients by type and size that you should be connecting with.  They may own or occupy quality properties within your territory.  Make a list of the clients and the properties, and highlight those properties or companies on your territory map.  Prioritise those clients for the business opportunity and profile they can provide you with.
  3. Systematically work the streets within each territory zone.  That will mean visiting the businesses to introduce yourself and leave your business card.  You can also contact the property owners directly by telephone or cold calling as part of that process.  The important issue here is that you remain organised and focused in the process.  Up
  4. If you have any property listings at this point in time, those listings will give you an excuse to talk to the other property owners and businesses in the same general location.  Some adjacent or nearby property owners may be wishing to relocate, expand, or contract.  Your current listings will help you identify those nearby clients and prospects that are looking to change.
  5. Look for the listings that are currently being marketed by your competitors.  You can market your services to the adjacent property owners and business proprietors.  Use your competitor’s listings productively in your prospecting and networking system.

To be successful in commercial real estate brokerage an agency, you simply need to understand your territory and work it methodically and systematically.  Most agents struggle with the discipline required.  Get that fact under control; your commercial real estate market share and listing potential can rise significantly.