In commercial real estate brokerage, there will be plenty of pressures to handle and diversions to avoid. Through all of those things, you need to keep doing the deals, and on that basis you need to set some rules at a personal level.
One thing should be said quite clearly when it comes to getting things done in our industry. In simple terms, you cannot control the whole of the day; things will happen that will change your targets and actions. Be prepared for the changes, and control at least a part of your day regardless of everything that happens.
One Third of Your Day
As a general rule, you should be able to control at least one third of your day. To get more traction and leverage with clients and listings, that controllable one third of your diary should be at the beginning of the day. It should extend for at least 3 hours.
Start the day doing the things that really matter when it comes to commercial real estate. Determine exactly what tasks and opportunities will help you drive more new business and better client relations. In most cases, the cold calling and prospecting process undertaken at a personal level is exactly what you need to merge into that controllable one third of your diary.
Attract Fresh New Business In Commercial Real Estate Brokerage
Here are some rules to help you with attracting more deals and listing opportunities:
- Don’t book meetings in advance unless you completely understand and accept the reasons for the meeting from your perspective. Is there a client relationship or listing opportunity involved in the meeting process?
- Other people will want to see you or talk to you about business issues from their perspective. Connections with other people should occur at the end of the day when all other important tasks have been undertaken. Remember that you control your diary; don’t let other people do that.
- Over time, only list high quality properties on an exclusive basis. Control your listing stock through that exclusivity focus, and avoid open listing requests as they will waste your time. Only take on open listings when you know that you have a potential buyer or purchaser to match to the property. It directly follows that you should decline any client request for an open listing. Why would you offer your high grade professional property services on low-grade listings and therefore waste your time? When you understand and accept that you really are the expert agent for the local area, open listings are no longer a necessity or a requirement. Pitch and present your services in a comprehensive way so that the client can see that you are the top agent for the job.
- With every listing, pitch and present your marketing strategies to the client on the basis of a comprehensive vendor paid marketing campaign. Ensure that the campaign is well structured using unique and direct marketing processes that your competing agents may have overlooked or neglected to offer; put yourself in the marketing process. Whilst every marketing campaign will have a degree of general advertising and website listing commitment, tell the client exactly what you are going to do for them and the property to attract volumes of high quality enquiry at a personal level.
When you stick to the rules when it comes to property marketing and listing, you can attract more commercial real estate enquiries and opportunities over time. In simple terms that will allow you to attract more listing leads and commission or deal opportunity.