Success in any sale career comes down to one major thing. It is you. Sure you will say the market and the economy have something to do with it, although I will say the most important underlying factor that must be on your side is your own personal focus and diligent action. Commercial real estate is exactly like that.
Now this simple fact is the hardest to get under control. We all have choices in the action we take, however most salespeople do not make the right choices or do not make enough of them. Random and generic action is more common than you would think in the property industry. That is why many agents struggle when the market becomes difficult.
The best and most successful real estate agents working on commercial property make deliberate choices to do the following very well:
- Prospect every day within their market. They build a market share and identity that supports continuous personal branding.
- Grow their database with qualified prospects and then maintain contact with them for the long term. The database has to know you the person and not particularly the real estate business.
- Inspect property with an eye for detail, identifying important issues that help to create the sale.
- Be prepared to offer sales and lease solutions that are relevant, special, and timely. Make sure that they tap into the client’s property ‘pain’ and provide a clear solution.
- List property at the right price or close to it. This helps the marketing for the client and does not waste the time of the agent.
- Market property using the best tools available that reach the target market for the property.
- Communicate continually with property owners in ways that keep control of the listing and convey the accurate feedback.
- Negotiate with parties with a view to fair and focused outcomes given the conditions of the market.
- Remember just who the client is and what they have as the targets in the sale or lease process.
- Keep abreast of rents and prices of comparable property activity in the local market so that any listings and negotiation can be supported by third party evidence.
- Close the sale or lease and then keep on top of the documentation and settlement procedures for the client.
- Look for opportunity for your clients so you can do more ‘off market’ deals where property circumstances exist. » Read more: Commercial Real Estate Agents – Double Up Your Listing Success and Commissions
