Commercial Real Estate Agents - Tips for Building Your Business and Listings

In commercial real estate your clients and prospects are the lifeblood of your ongoing listings and sales or leasing transactions. For this reason you must have an ongoing contact plan to help you keep in touch.

It is interesting to note that one of the first things that 'falls to the side' when agents get busy is the prospecting and client contact. The agents focus on the current deals and forget about relationship building. This then produces 'peaks and valleys' in income and listings.

It takes about 3 months to go from a 'peak' to a 'valley' in commercial real estate. The same rule applies in reverse. If you want to remove the volatility to your commercial real estate listings and commissions, you must keep in touch with the right prospects even in the busiest of times. That's what top agents do.

Here is a model that can help you stay in touch with the right people:

Email addresses and mobile telephone numbers should be captured into your database so the contact process is easy. That being said, the information should be up to date and current.

As a basic rule your prospecting should occur in the first 2 or 3 hours of the day. In this way the job is done and then you can get into other things.

Client updates and contact should happen around the middle of the day or at the end of the day. Keep your clients updated with market trends and how they are impacting listings and enquiry. A client that is informed is a client that you can work with.

Inspections can or should occur early afternoon so that they do not disrupt normal prospecting and client contact.

Negotiations are important to the deals and the listings. I know that some negotiations can occur at any time and that they will take a priority over most other things.

It is a known fact that the best agents are in control of what they do and when they do it. It is that level of control that helps them get the job done and build market share. You could say that they have some real priorities that they work to.

If you want to rise up in the local commercial real estate industry, it is time to look at what you are doing and how it can be improved. Some of the rules above will initially be hard to establish, however try to commit to at least 50% of them. Over time the degree of control that you get will help your success in the industry.

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