How to Get Motivational Leverage in Commercial Real Estate Brokerage
If you are to succeed as a commercial real estate broker or agent, then you will generally need plenty of motivation at a personal level. We all have our good moments, and difficult challenges to work through. Consistency and a positive attitude will help you move ahead.
So understand the facts about the industry, and then get to work on building your business. When things get tough or slow from a listing and commission perspective, get out and meet some new people that could have a property need. You are (or should be) the solution provider in commercial property that local people need, so don’t forget that fact, and use it in personal marketing. Find the people with property problems. Open the doors to new business relationships.
Whilst you may get lucky with some listings and client situations, most of the new business that you create will be personally generated and nurtured over time. The laws of motivation apply to achieve that momentum. Are you ready for the challenge? It’s time to get motivated.
It should be said that there are usually some major differences between ordinary agents and top agents when it comes to momentum and motivation. The top agents of the industry will very likely sustain a consistent focus on listing growth and client service. They know how to connect into the right properties and the best people; they ‘open doors’ to future opportunity. Over time they nurture the right client relationships as part of a deliberate positioning strategy and marketing initiative. It’s a personal choice for all of us.
So you can do the same here as those top agents already around you in your industry, as you strive to build your own personal market share. You can connect with the right people in the right ways. Certainly you will have some challenges when it comes to local knowledge and personal confidence, but most if not all agents and brokers struggle through those barriers over time. Consistency achieves results. Prepare yourself for the opportunities in the property market and start taking action.
The motivational factors that matter
Here are some factors to help you move ahead as a successful broker or agent:
- START HERE: Start the day with a bias and focus towards prospecting. Spend the first few hours of every day connecting with new people in a relevant and real way. Understand how you can reach out to new people strategically and logically. Canvas your streets so that you understand the positioning of local properties and the location of businesses. When you have that necessary research, you can start the process of door-knocking and cold calling. Track and measure the results that you achieve over time, and maintain a consistent approach to growing your numbers in prospecting.
- TALK TO PEOPLE: Every inbound telephone call is opportunity for a conversation. Build your business opportunities around conversations. When you have a property enquiry coming in, ask the right questions and look through all the variations of service that you can apply. Don’t forget to explore the alternatives services between sales, leasing, and property management.
- INVOLVEMENT: Treat every exclusive listing as an opportunity for target marketing. Get involved with the listings at a personal level so that you are reaching out into the targeted segments personally and directly. That direct approach involves telephone calls, direct mail, email marketing, and meetings. Be prepared to spread the word regards the quality listings that you have. Create more conversations.
- BUILD ON LISTINGS: With every listing that you have currently, look to the strengths of each property and the location. Build some points of difference for each listing, together with some stories that you can use in the overall promotion. Every quality listing demands that extra effort from a promotional perspective. A well-crafted listing will create good levels of enquiry in most circumstances. When you have some enquiry to work with, you can easily build a database containing new people and opportunities.
- GO DEEPER: Look at the ways that you can service your clients more comprehensively and completely. That may be through the addition of extra services across sales, leasing, and property management. Look at the variations in each of the services such as tenant mix control, property performance, vacancy reduction, lease improvement, and tenant placement. A simple property discipline can be improved through extra services and productive thought.
- LOCAL COVERAGE: Look at the various approaches to marketing locally and how they can be improved. There will be numerous ways to approach property promotion both online and off-line. A simple advertisement can be improved through layout, advertising copy, and photography. Make sure that the marketing message reaches out the right people comprehensively.
In saying all of these things, you can be highly motivated as a broker or an agent. The actions that you take should be well directed into the right clients and the properties that you really require from a new business perspective over time.
Understand the types of properties that you should be working on regularly both in size and location. Move away from the time-consuming ordinary listings that can consume most if not all of your precious available time. Choose your property market and the people that you can work with.