In commercial real estate agency you should have a personal marketing plan that you can relate and commit to as part of your daily diary. Without a plan of this type it really requires hard for some agents to drive any reasonable new business and client relationships.
Many times I have heard agents say that the market is 'slow' or 'difficult'. Common complaints from agents are typically a variety of some of these things:
- 'I did not get any calls of the advertising this week'
- 'Inspections are harder to create'
- 'The property is creating little interest'
- 'The telephone did not ring this weekend'
- 'I took the inspection but they have not gotten back to me yet'
- 'Inquiries this week have been terrible'
- 'I can not get the people to commit on paper to an offer'
- 'I would rather be playing golf'
Yes, this property market is a bit of a challenge, but understand that what is happening now is all part of the property cycle and adjustment that happens every 10 years or so.
You really have to put in the right effort into your career to get something out. The business and the clients are still out there for you. Sales and leasing activity happens each and every day in your sales territory and patch.
Top agents are highly systemised. That is how they build their business, find the clients, and create their listings. If you are struggling in commercial real estate agency, have a good look at your systems or 'lack of systems'. The answer will usually be there.
Here are some rules to help you getting 'back on track' when it comes to personal marketing:
- You must have a database that is up to date and fresh. At the end of each day, enter the things that you have done and the results of the meetings and conversations that you have generated.
- Build a professional network of special groups of people that complement your market activity. They will usually be solicitors, accountants, property developers, and planners. Keep in touch with them as they will have clients and issues that need servicing.
- The telephone should be your 'friend' in business. Use it regularly to contact ever more people in your local area. Be prepared to grow every relationship with a prospect or client.
- Ask for referral business at the right time and with the right people. Use the strength of your existing relationships to 'open the doors' with new people.
- Devote 3 hours per day to prospecting. Yes, I know it will be a challenge for some to find 3 hours in the diary, but as it happens that is usually the reason their market share and decisions are not improving.
Simple rules like these should be implemented as soon as possible in every agent's business plan and diary. After a few weeks of fresh and deliberate effort, the market momentum will come back to you and you will see some new opportunities to act on.