It is a fact that commercial real estate agency offers significant opportunity for those salespeople that can work with focus and diligence. It is a very rewarding industry.
As with anything it should be said that the salespeople that do not put in the effort will struggle and involuntarily leave the industry. There are certain parts of the job that are absolutely critical to business conversion and commission growth. Each of those parts should be optimized for knowledge and skill development.
Here is a list to help you understand those facts:
- Researching the people to talk to as part of your prospecting model
- Gathering the right information relating to the local property market at prices, rentals, best methods of sale, and best methods of leasing.
- The correct marketing methods that will help you create the property churn and activity with your quality listings.
- Prospecting each and every day into the local area and within your property type
- Pitching and presenting your services to potential clients and customers requiring help with sales leasing or property management
- The packaging of a listing to ensure that you achieve market penetration for the target market
- The inspection process that applies to each listing showing the features and benefits of purchase or lease
- The negotiation process to move the property forward to a successful transaction for the client
- The follow-up process to keep the finalized transaction heading towards completion
- The opportunity for referral and repeat business from the client that you have served
Each of these stages can be considered as critical to the success that you want to achieve as a commercial real estate agent. By improving your skill and knowledge in each of the stages, you can increase your conversions of lists and responsibilities.
So a person that is new to the industry or considering entering commercial real estate should take on the requirement of personal development in knowledge and skill. It is a daily process and will allow you to move up in the local property market as a good agent.
You should expect competition from other agents in your region. Some of those agents will be aggressive and potentially unethical. Some agents like to 'jump' your listings and interfere with your client relationships. The only way that you can counter these problems is in providing a top service, quality communication, and the relevant experience that the client needs.
In entering the industry, you will soon know that the quality of the lists that you attract will have a significant impact on the levels of inquiry that you achieve. You will also know that prospecting is a critical component of your daily activity. Set the rules in motion to make your career one of success and growth. The opportunities are available for that.