It may be a bit hard to believe but some commercial real estate salespeople really love prospecting. They have a real passion for the process. It directly follows that those salespeople on average create more listings and earn more commission than any other real estate agents.
You could say that there is real a formula here for getting results! It’s not hard to understand, but it can be hard for some salespeople to do.
So how do you create this momentum and passion for the networking and prospecting process? How can you make more cold calls every day? In one simple answer, you really do need to change your thinking about the process. If you have the right internal thinking aligned to your prospecting actions, you will get more results.
New Prospecting Formula
For this reason, if the prospecting process is the new formula for you to build your real estate business and career, start shaping your thinking at the same time as taking the right actions.
As you start to get results, the thinking and ideas strengthen. Soon you can become a top commercial real estate agent. It takes about 4 weeks of prospecting for the process to be accepted as a new habit in your diary.
So let’s look at a typical prospecting model in commercial real estate today. Who do you need to contact? Here is a list:
- Property owners
- Property investors
- Owner occupiers that run businesses
- Business owners
- Tenants occupying premises
- Property Developers
- Franchise groups
In this simple list of people there is a massive amount of opportunity. There is also a lot of work required to ‘open the doors’ to many people, and some will be harder to contact than others.
This then indicates that you should start a prospecting system that you can stick to each and every working day. Consistency and persistence in prospecting will get you further and faster in your commercial real estate career than any of your competitors.
Start the Challenge of Prospecting
Are you ready for the challenge? Here is a system for prospecting that may be of some help to you today:
- Define your territory geographically so you know where to find the people that you should talk to.
- Understand the property type that you are focusing on. That will help you with the right market knowledge and information to use in presenting and pitching your services.
- Research new people to contact each day. The best time to do that is each night after the evening meal. Create a list of 10 to 20 new people to contact the next day. The local business telephone book is a great place to start.
- It takes considerable time to chase down the owners of some properties. On that basis, make it a goal to research the property owners one at a time. On average you should find about 5 new property owners per week to talk to.
- The relationships that you create with solicitors and accountants can be very productive. They have clients that need property help from time to time.
Prospecting is not hard; it is just a consistent and continual process. Start the system today and shape your thinking to the actions that you need to take. Over a period of 3 months you can make massive gains in market share and listings using this process.