In commercial real estate the most important part of your job is that of lead generation. Without leads you will have no listings and no prospects to sell or lease property to. Without leads you become poor very quickly and listings and commissions will be all that more difficult.
Not every lead will be a sale or a lease. Not every lead will be a listing. Importantly you should be tracking these so you know these facts:
How many you need each day to generate sales from buyers, and sellers
How many you require from landlords and tenants to create successful lease deals
How many you are converting to listings each week
How many meetings from a lead it takes to create a listing
How many you are creating from cold calling per day and per week
How many you are creating from door knocking other business people in the local area
How many you are creating from direct mail to investors and previous contacts
How many you are getting from the internet for the week and off particular properties
How many you are getting from the email marketing you are doing
How many you are getting from the media newspapers and of that, which ones work better for you.
Leads are everything in commercial real estate. Your ultimate goal is to know on average how many you must produce each week for your professional progress and success.
Now here is a fundamental fact of great importance to your career in the industry. You cannot track leads easily in commercial real estate without a great database to help you. Technology is at your fingertips today more than ever before. Technology will allow you to see what your conversions are from the leads you generate.
The conversions that must be tracked are:
Conversions to qualified Luxury Homes For Sale In Paris France sellers
Conversions to qualified buyers
Conversions to qualified tenants
Conversions to qualified Luxury Real Estate Brands landlords
Conversions to qualified investors
Every prospect and client you talk to should go in your database to achieve this level of control. Some people prefer to have a PA enter the contacts into and maintain their database, however this can be counterproductive; it disconnects the salesperson from their data. Soon they are not looking at the database and overlook an opportunity or an essential contact. Most salespeople are basically a bit lazy given half a chance, and that syndrome in your business has to be avoided.
The best salespeople in the industry keep a close eye on their database and its daily maintenance. Shortcuts do not work.
Lead generation becomes magnetic when you are doing all of the above items 1 to 10 on a daily basis, and then tracking the process. Break down your leads into categories so you know what actions are good and bad for business generation.
Lead generation takes significant personal discipline. It’s the same in every industry although commercial real estate is almost built totally around it and when done correctly will underpin the foundations of your personal success.