There are always opportunities to be found in commercial real estate brokerage. To get the best results in your business and brokerage locally you should create a plan and strategy to take you forward. A successful commercial real estate brokerage will usually be the
At any time of year the property market will offer opportunity in sales, leasing, and property management; the trick is to find it. The strategy that you use helps you find that opportunity. So let’s consider some resources that you can put into your plan.
- The register of property owners for your location – Using the register you can identify people and companies that own local property.
- The business telephone book – Always remember that the local businesses will occupy or own the property in which they are located. Asking the right questions will get you to the ownership facts that you require.
- The internet – Using your computer you can search down opportunities in business types, companies, and other listings. Look for activities and changes. Find out the names of the leaders of each business and approach them directly for a property related discussion.
- Websites and industry portals – Always track the listings coming and going from the industry portals. In tracking that information you can understand the time on market factors and the best ways to advertise quality listings. You can also determine just what seems to be selling or leasing and why that is the case.
- A street directory of your location and city – Simple street maps of the area will keep your attention focused in streets and precincts. You can use a highlighter pen to track the streets and areas that you are focusing in or have been in as part of your prospecting and door knocking model.
- Blog strategies – Blogs are wonderful business tools. The great news here is that they are essentially free and the only thing you require to get one going is time. You can write things and you can show photos of your local town or city. The main idea behind a blog is that it is designed to be helpful and informational. Search engines like information and that is why blog strategies work.
- Social media – You should create a few social media strategies to use. Twitter, LinkedIn, and Google+ are all good tools to use in commercial real estate brokerage. There are others that you may know about, but don’t use some obscure social media platform that others have not heard about before. To encourage people to join your online social media efforts, use a platform that people understand.
- Your database program – A great database program will help you stay on track with new leads and clients. Most of the listings that you find will come from your database and the efforts you apply to making calls and contacts. If you want a lot of leads and listings, your database and how you work it will be the indicator and tool of success. How many people do you have in your database now? How often do you talk to those people? Good questions require specific answers; be honest with yourself.
- Your telephone – Technology today supports us comprehensively in so many ways. Get the best telephone deal possible so you can make many calls to your contacts and clients. Integrate SMS, email, and social media tools into your telephone. If your database is cloud based, then integrate the database into your smartphone.
- Your business card – Whilst this may be the last item on the list, it is the most important. If you give your business card out every day to new people, opportunities will come to you over time. Most people keep business cards. It is a simple and effective way of connecting with local people and building your relevance as an agent. How many business cards can you give out each day? How many business cards did you give out yesterday? Develop a strategy to get your business cards into the local area.
I am going to suggest here that as an agent or broker you do not need to have any other resources to find new business. Everything that you require as an agent or broker can be found by using these resources effectively and directly.
You can get more tips for commercial real estate agents here in our bulletin.