In commercial real estate brokerage you need a ‘selling system’. That is a system that will apply to sales, leasing and or property management. It doesn’t matter what part of the industry that you work in, the selling of specialised services should apply. You are the best person to do that.
It can be said that not enough ‘selling’ goes on these days. All too often you see a broker or agent wasting time on ‘dead ends’ and unqualified prospects. The ‘selling’ process involves all of the following:
- Finding new clients to serve
- Promoting new listings in the local area
- Talking to new people every day
- Marketing a property to inquiring parties as part of an inspection
- Advertising online and in the newspapers etc.
So how can you do all of this with reasonable focus? You should have a system that controls your day and your focus. Stay on track in all respects as an agent or broker. Don’t divert your thinking or focus. Do the things that really matter to the clients and deals that you have underway.
You can split the ‘sales’ process up into these segments; in doing that you can improve your action and skills for each segment. Just how good are you at these things below?
- Researching new clients and properties to work on or for
- Prospecting consistently in your area and town or city for sellers, buyers, tenants, and landlords
- Identifying the requirements of people so you know if ongoing contact or perhaps a meeting is required
- Meeting creation for listings and presentations with clients
- Listing strategies that take into account the current market conditions
- Qualifying the right people to work with or take to listings as part of an inspection process
- Negotiation strategies for any stage of the property process and client situation
- Documentation processes and legalities
- Servicing the property, the client, and the deal
Every segment supports and leads to the next. If you have a weakness in any segment then you have a problem to address as a real estate agent. That is where training and role playing in your team can help. A career in commercial real estate involves ongoing and regular personal improvement. Prepare your selling system accordingly and stick to the plan.