One of the major problems in the commercial real estate industry is that most salespeople have little if any ‘system’. They take each day as it comes; on that basis they waste just so much time. The weeks pass by without little focus, and then the listings and commissions fall away.
The difference between a great salesperson and an ordinary one is first and foremost in having a ‘system’. Every successful thing you do hangs off the ‘system’.
In this property market, many salespeople create little opportunity for themselves. When the property market becomes more ordinary or even tougher, those salespeople are the first to struggle and complain. In commercial real estate, everything is up to you. Do not rely on ‘luck’, take your own action and create your special points of focus. Even in a tough market, things happen.
So what does a good system in commercial real estate look like and what should you expect to get out of it? The answers are really quite simple. Here are some of the main points:
The system should be a daily event. At least half of your day should be controlled on your terms and set to your plan.
Prospecting should fit into your plan so it occurs each and every working day. You need about 3 hours of prospecting to make things work.
The prospecting that you do should be split 50/50 between new contacts and established contacts. In that way you will be creating growth.
You will need some form of a database program or software to track and support your actions. Initially you do not have to spend large amounts of money to purchase a CRM program; simplicity is sometimes better to get things in place and moving forward.
Get into your territory at least once a day so the area becomes Most Expensive State To Buy A House familiar and you start to take ownership of the ‘patch’.
Track the signboards, listings, and time on market, advertising, and other agents in your area. It is essential to know what trends are occurring in each category.
Get to know the local property owners on a street by street basis. The owners will need Writing An Offer For A House to be categorised into priority ongoing contact after you have spoken to them.
Touch base with all business proprietors and tenants in the local area. It is again relevant to do this on a street by street basis. System and organisation here will keep your records and findings on track.
Today we find that the internet and the mobile telephone tend to be tools of choice for the local real estate agent. Even so, the basic rules of marketing still apply; you have to get in front of and meet with the ‘players of the market’. This requires system.
When you work hard in this industry, the results will follow. Take charge and move into opportunity in the coming year ahead.