Monday, June 11, 2012

Commercial Real Estate Agents - Persistence Always Pays in Growing Market Share

high rise office building
Practice your agent skills

If commercial real estate was ‘easy’ then everyone would do it.  Fortunately many ordinary real estate salespeople and agents do not have what it takes or the inclination to get involved in ‘commercial’.   I guess you do what you love, but self-improvement will always be with us when it comes to commercial real estate.

If you want more business, then you have to be the best choice of agent for the property type in the local area.  That is a good way to market yourself.

So for those of us that know the industry and have it as part of our life, what exactly should we improve on?

Here are some of my ideas that are what I think are the key areas:

  • Prospecting for new business and growing your database
  • Presenting and pitching for new listings
  • Listing processes and the required attention to detail
  • Marketing activities for each listing so we get the required amount of enquiry
  • Inspection processes that tap into the features of the property
  • Negotiation skills to sell and convert more new business
  • Closing on the sales and leasing deals that we come across
  • Follow through with each property transaction to the end result settlement or lease

I know lots of salespeople that have weaknesses when it comes to a list like this.  It can be said that our greatest weaknesses are the biggest things that hold us back.  If some of these things are a ‘weakness’ for you, may I suggest that practice and knowledge would be a good thing.

Some top agents that I know spend significant time and effort each week doing the role plays and pitches when it comes to these things.  In that way they will have the momentum and skill to ‘beat’ the competition in the ‘game of commercial’.