In a commercial real estate agency, the things that you do every single day in prospecting and contacting will help you build share of the market both in listings and commissions.
It is a sad proven fact that the prospecting process is greatly neglected and overlooked by many people agents. Call reluctance and insufficient personal systems would be the reasons for the issue.
Listed here are two common observations regards canvassing and prospecting for new business:
Many agents go ahead and take 'long way around' with regards to finding new clients, listings, and prospects. They allow the agency they work with give them some if not completely from the momentum with regards to attracting clients and prospects. As the agency will have some benefit to the process, it is only a very small part of the problem and the market that is required.
When an agent or salesperson gets busy with listings, leads and inspections, the first thing to be dropped out of the daily diary is going to be prospecting. This then results in a 'peaks and troughs' effect when it comes to personal performance and income.
To get anywhere quickly within this industry, you really do have to establish your prospecting model quickly and implement it each and every day. The matter is nearly non-negotiable. If you think maybe that you're a top agent, then prospecting is going to be a part of your company process.
There are too many 'average agents' in the industry, and on that basis, you need to do need to stick out as relevant and real as an industry professional. Prospecting and canvassing are parts of that process.
To get the most from your prospecting model, here are a few suggestions to implement on a personal basis:
Define your territory geographically. Within that area, you should consider where 80% of your business can be extracted on the 12 month period. The other 20% of the business can come from referral opportunities and outside the location. Concentrate on the 80%.
The new people that you talk to have a variety of needs and you ought to be responsive to the opportunities in every. This then states that a prospecting process should be alert and adaptable to sales, leasing, and property management opportunities. A leasing transaction today will be a sales or property management opportunity later on. A sales transaction today is a property management or leasing opportunity later on. There are many methods for employed in this industry and flexibility is really a distinct requirement.
Research the property owners, and the best properties through the region. They should become key targets within your prospecting model. You could call this group your 'A grade' targets. Every day you ought to be making contact with one or more of the targets in this particular group.
Get a duplicate of the street directory that pertains to the sales territory that you now operate. On the street by street basis, personally canvass all business people and also the tenants in occupancy. Look for any information in accordance with lease occupation, property ownership, relocation, and redevelopment. Ask the best questions and you'll find the opportunities.
Track all your contacts and opportunities in a good database. This is a personal process also it should occur after every day. Soon a question will arise regarding the master of all the contact data within your database. This is a question that you ought to consider as part of your employment arrangements within the agency which uses you. If the day arise in which you wish to move to another agency, the database will be crucial for you.
The best prospecting results originate from an easy system of private contact each 90 days to those targets and prospects inside the database. It has been proven the second or third contact exactly the same person will usually produce better conversions to meetings. On that basis, it is simply dependent on contacting the best people in a family member way into the long run. This requires a definite system and commitment from each and every salesperson or agent.