Commercial Agents - The Importance of Prospecting and Cold ...

12
Mar

It really does not matter how successful you have been this year in commercial real estate sales and leasing. You still need listings for the future and prospecting is part of that process.

Many agents or salespeople tend to neglect the prospecting process when they get busy. This is counterproductive and frustrates the pipeline of opportunity for your business. In most real estate markets, there is a time lag of about 90 days between prospecting and lifting your conversions to listings. This says that the prospecting of today will turn into opportunity in about three or four months.

Prospecting is therefore one of the most important things you do each and every day. It needs to feature in your diary as a priority one activity. Prospecting will give you a number of outcomes such as the following:

1. It will get your face and identity into the local business community so that you can be the agent of choice to help them when sales or leasing issues arise. Commercial real estate is built around networking and contacts. Your database is critical to your future sales opportunity and listing conversions.
2. The people that you talk to in most cases will not need property assistance today, however they will be needing something in the future. You will need of constant contact process to build the right connections with these people. It pays to talk to them every 90 days as part of an ongoing networking and prospecting process. Remarkably you find that many salespeople fail in this regard. This becomes a significant source of opportunity if you build the correct personal system of contact.
3. Many properties are sold off market. When you know enough people and keep a register of contact in your database, it is easy for you to introduce new and fresh properties directly to the right people at the right time. You can achieve a sale even before the property is advertised and other agents hear of it.
4. Use the signboards placed on properties by competing agents as reasons to talk to the neighbouring properties. This has proven to be a serious source of opportunity. Most neighbouring properties prefer to choose an agent in competition, and the catalyst of the sale next door tends to motivate the neighbours to sale.
5. Most of the business owners in the local area know more about the street they are located in than you do. On that basis you can tap into the observations and knowledge that they have of the local area. Asking questions will open the doors to important information that could be a sale or lease opportunity.

If you really want a good future in the property business, do not waste time on any working day. Start prospecting and make it a passionate part of your business process.

If you want some more tips and ideas to help your commercial real estate agency and convert more opportunity into listings and commissions, you can get a free ebook of tips and tools at http://www.commercial-realestate-training.com

John Highman is an experienced Commercial Real Estate Agent, International Speaker, and Sales Coach.

Article Source: http://EzineArticles.com/?expert=John_Highman

Source: http://www.greenacresrealestateagents.com/greenacres-real-estate/commercial-agents-the-importance-of-prospecting-and-cold-calling-to-your-business-today

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