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:
- 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.
- 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.
- 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
- 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.
- 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.