When you work in commercial real estate, you need a good prospecting list to grow your business and to grow your market share. The list will be the foundation of new listings and new transactions. On that basis the list needs to grow each and every day. That is very much a personal thing.
To develop your personal database and list of prospects, here are some tips that will be of real use:
First and foremost, consider the people that you do know now and are current business acquaintances. It is likely that these people can refer you through to other business people that they know. In the commercial real estate industry, the value of a referral is very high and will convert to opportunity far easier than a cold call contact.
Make it to focus of your business day to get in front of two new people as part of your business contact process. This can be a target and when optimised will produce a steady flow of new contacts Home Builder Software Free and new opportunities. Don’t limit yourself to narrow groups; incorporate some contact with business leaders, property investors, property owners, solicitors, accountants, and property developers.
Always carry your business cards with you and distribute your business cards at every opportunity. You really do not need any other marketing material How To Attract High End Real Estate Clients when it comes to making contact and leaving a good impression. Make sure that your business card is suitably professional and well designed.
When you start to develop a list of clients or prospects, they will also know other people that they can introduce you to. This is again another variation on the referral part of the business, and is to be encouraged. Generally these referrals will only occur when your client or prospect regards you as a top professional in your industry. Confidence and market knowledge will help you achieve this impression.
The local newspaper is a significant source of opportunity. Look at the adverts relating to particular businesses through the local area. Generally speaking these businesses will be successful given that they are advertising in a prominent and productive way. They should be a target of your networking and cold calling process. Identify if they are owning or renting the property they are working from.
The people and businesses that purchased property approximately three or four years ago unlikely to be the groups that will soon take action in other property matters. It takes about three or four years to reach the next stage of liquidity or change when it comes to commercial property. On that basis these groups become targets for you in your networking processes.
When another agent puts a signboard on the property, it is an opportunity for you to talk to the adjacent businesses and adjacent property owners. It is likely that these groups will have some interest in competing with the listing in their immediate area. Ask the question to see the status and momentum of their property issues.
When you successfully sell or lease a property in a particular location, make sure you get success letters out into the local business community and property owner ships. Build your local market share from your local successes.
Prospecting in commercial real estate is a personal mindset and a personal system. When you develop both of these aspects, you will find opportunities evolve from your daily activities. Your career will start to take off.