When you work as a salesperson in commercial real estate, nothing is better than to have clients and prospects call you to list their quality property for sale. So how can you create this “Real Estate Law of Attraction”, and optimise it in your career in the property industry? Are you up for the battle?
Your progress in attracting more property market share and listings emanates from your personal actions and focus on a daily basis. So many real estate salespeople in the industry really struggle here, and yet they do not have to. They have a choice, and the reality is they are in control of their success in any market and even the tough one we have at the moment.
To get more listings you have to know more of these people:
- Property Investors
- Property Owners
- Landlords of rented property
- Tenants in leased property
- Properties and tenants on a street by street basis
- Large and successful businesses in your area that own or rent property
- Local accountants who could have property investment clients
- Property Solicitors in your area
- Planning officers
Now this list may not be new to you and you may say that you know these people. Here are a couple of questions that I would like you to think about:
- Do you really know these people on a reasonable personal level?
- Will they take your call or return your call when you make it?
- Can you say what the plans of the key people in the list really are?
- Can you say what planning changes and property supply coming up will impact the market?
These 4 questions are foundational to knowing your market fully and building the right business out of it. Many salespeople may indeed know who a prospect or property owner is, but generally they have failed to establish a great relationship with them.
How often have you seen another agent’s property sale sign go up on a property that is known to you and you were only taking to the client or landlord last month or last week (and they said nothing to you about the property sale)? Frustration is common in the industry and this is something you will not totally avoid. Importantly you should get to a position in the local property market where you get more than your fair share of good property listings and that you are the dominant real estate agent with the best listings and best clients.
So the “Real Estate Law of Attraction” when it comes to commercial real estate sales is centred on constant and regular contact with the property people that matter in your local area. The great advantage is that many if not most commercial salespeople do not systematically canvass their market, their streets, and their prospects. They do not make the calls and contact every day. This is where you can be better than the rest.
Make it a rule to personally contact all the relevant people in your database each 90 days without fail. When the selected people have an active property need coming up then simply lift the frequency of contact to monthly. Fill your pipeline of contact with new and fresh people every day. Drop out the dead contacts so you can improve your prospect quality in the pipeline.
The conversions for prospects to potential clients happen on average after the 3rdor 4thcontact with the same person. It may take you that long to get a meeting with those that you target. Most of your competition agents are not sufficiently organised to do that on a 90 day cycle. Set up your model of constant contact and it will become your “Real Estate Law of Attraction”.