- Quality prospecting should occur each working day. The prospecting process is the first stage of prospect or client contact so it has to be relevant and professional. Practice the process so it improves your conversions and conversations.
- Listing a property can be a complex thing. Importantly it should be accurate and professional. Understand the market and the property type to make every listing a positive experience.
- The marketing tools available to us are many. Use the best tools for the job, and make every exclusive listing an exercise in top quality marketing.
- Client contact, inspections, and negotiation during a listing and marketing process should be comprehensive and complete. Put the client into your efforts so they know what you are doing and why.
- Documentation is the first stage of deal closure. When a property has been listed, every stage of the contract or lease should be followed through with complete attention to detail. It’s your commission and your client that are to be protected here.
To be a top real estate agent in commercial property, you must have high standards and established business processes. Every client or customer that you ‘win over’ should be nurtured for the long term.
In many respects it takes time to connect with the right prospects and build the trust that will open the door on future business. With the major clients you will find that many agents are chasing them just as you are. To connect with these top clients, something has to trigger the relationship and build that trust that they want to see.
stay in contact with relevant information and market updates. Don’t delegate your contact processes to a support person or administrative assistant. It’s your business remember, and only you can make it happen. You as the agent must be responsible for your client relationships and database.
When you get really busy
When you get busy with a lot of listings or clients, it is very easy to let the standards and contact process slip. When this happens the competitors can get into your listings and your client relationships. You therefore need a mindset of ‘high standards’ at all times; the process should become an obsession.
I go back to the point that relationships in our industry are really important. It can take months or even years with some prospects to get to the point of doing business with you. The ‘cycle’ of commercial real estate is quite long in both sales and leasing.
So how many people should you have in your database? Personal database numbers should be based on your location and your property type. I would say however that you should have several hundred quality contacts that you work in a continual way. By ‘continual’ I mean once every 90 days or less. In that way you can build a relationship of relevance. If you consider a client as ‘active’ or soon to be, then the cycle of contact is shortened to at least once a month.
Here are some ideas to help you with establishing your ‘high standards’ system as a good local commercial real estate agent.
So you can do a lot more with this, but I think you get the idea. Build your commercial real estate business on the back of good business processes and systems. In that way you can nurture your best client relationships and potentially get more referrals over time.