In a commercial real estate agency, the skills a sales executive requires are specialized and many. Each property market, town, or city will have unique negotiation and listing terms. On that basis you need to train yourself for the best performance.
Too many salespeople wait for the boss to pay for some training sessions or send them to a workshop or seminar. While that process may seem convenient, most generally motivated salespeople don’t improve or learn much from any workshop or seminar.
They may remember things over the course of a few days, and try some recommendations or tools from the program even though the problem of breaking old habits and establishing new ones will always hinder progress. That being said, the top agents in our industry are the ones who can change their actions and improve their processes. They train themselves to be the best at everything.
While we do many things every day, there are really only 8 things that are fundamentally important to our careers and progress. Self-improvement in these 8 separate items will radically improve roster and final deals.
Here are the eight special items:
Prospecting new business will always be number 1 on the list regardless of how busy you are on any given day. Prospecting should always happen without fail and with great focus. This will take about 2 hours per day. Therefore, you need to practice your prospecting and dialogue methods. In contacting people, you are simply looking to understand whether they have a need or interest in commercial or retail property.
From a successful prospecting process, you can move on to meeting with a prospect or customer. The frequency of your meetings and the growth in your market share will come from prospecting. Therefore, you need to practice your meeting presentations and sales pitches.
From a successful sales pitch, you will have the opportunity to register the property. If you create a list with a primary focus on exclusive listings, you will build a better market share. In this case you will always list the sale and lease of shares that you can control and therefore avoid the interference of competing agencies.
The marketing process for each list should be considered unique and special. Each listing should be directed to the target market that best suits the improvement and location of the property. Gone are the days of generic marketing in commercial real estate. We really need to explore the types of properties and levels of inquiries that exist today. That’s marketing and you’ll find out what kind of marketing works more effectively than others in today’s economic climate.
From a successful marketing campaign, you will generate multiple inquiries with qualified prospects. The inquiry will then be turned into a property inspection. The property inspection process can be optimized and improved through deliberate effort. Understanding property features and the best way to get people through the property will always help you turn out better results from property inspections. Preparation is key. Knowing the property will be of great help to you.
A successful property inspection will develop into a negotiating process. Given that you’re negotiating client terms to potential buyers or tenants as the case may be, you can really optimize the outcome through improving your self-negotiation skills. Top agents with excellent negotiation skills are independent people. They deliberately choose to improve each stage of the sales or lease marketing process. Practice your negotiation skills. Control negotiations at every stage.
Successful negotiations will proceed to the creation of proper documentation or possible agreement. Given that this is one of the most important parts of the sale or lease process, there is no excuse for inaccurate or average property documentation. Understand what needs to be done and then improve your documentary skills for accurate transactions. The clients we serve expect us to provide waterproof documentation. In some cases, complex transactions must be referred to the client’s attorney for final documentation. If you don’t know what to do with the document, don’t start it; find someone who knows what to do.