[ad_1]
In commercial real estate working as a real estate agent it is easy to be overwhelmed with exactly what to do and where to start. When you are new to the industry this is a daunting challenge. If you make the wrong choices or you start off on the wrong foot, you can waste a lot of time and miss a lot of business.
If the wrong person teaches or advises you in the industry, the implications can be dire. If someone is sharing their experiences to get you up and running as a commercial real estate agent, ask yourself these questions:
- Do they really know what commercial real estate is all about?
- Do they do the deals or do they just say that they do?
- Have they got a proven track record in commercial real estate?
- Do they know what is going on in the local property market?
- Can they give you diverse skills and knowledge in commercial sales, leasing, and property management?
Commercial real estate is a specialised part of the property industry. It is different than residential property. To be successful you have to know what is going on, how to interpret it, and how to use it for more business.
There are really just two main things you want to have when you work in commercial real estate. Firstly you want quality listings and secondly you want prospects to talk to. One without the other is a problem. Listings and prospects are the foundation of doing the deals and creating the commissions. They are linked.
In the first instance, quality property listings will build your database as the properties will create the enquiry calls. If you are not getting many calls now then you do not have enough good listings. To fix this fast it is a matter of consistently prospecting into your territory.
Prospecting and cold calling is the first and most important thing you should do every day. Without the skill of prospecting your personal commissions and listing conversions will be ordinary. It is likely that your time in the property industry will be a struggle. So set your prospecting model in motion today and do not stop the process no matter how challenging it is for you.
The knowledge required to work in commercial real estate includes:
- Lease strategies and structures
- Marketing methods for property sales and leasing
- Investment analysis of different property types
- Development and refurbishment strategies for property
- Property management strategies to optimise property function and value
- Negotiation strategies and skills to list, inspect and close property deals
- Communication skills to handle the diversity of people that will connect with you
- Documentation skills to create and track property deals
- An enquiring mind to check out and chase down property discrepancies and inconsistencies
- Territory tactics to optimise your listings and market share
- Sound knowledge of computers and technology to communicate, display, and record property transactions
To be the best property agent in the local area and to be respected as such, the list above is a good start. It does however take time to build the required knowledge and skill; prospecting daily will help you build your business and grow your market share at the same time.
[ad_2]
Source by John Highman