Stock Planning in Commercial Real Estate Brokerage Today

Today, every agent and real estate broker must have an action plan based on his goals and his business plan. Our industry can be quite ruthless to any agent who takes a generic approach. When you perform basic tasks randomly, you get average results.

The best agents do things specific to a plan that has been well thought out and structured. Filling their supply of opportunities will always be important for new sales and rental opportunities. The same can be said from the point of view of property management, understanding that the client&39;s goals are more long-term than short-term.

The action plan you create must take into account current market conditions, your customer base, your marketing strategies and the resources available to you.

Before you can get what you want, you must know exactly what you want. The plan of action should be structured around this goal. Set realistic but challenging goals.

What resources do you have at your disposal? How do you use them today?

Here is a list to help you identify resources:

  • Time to do the required work
  • Support staff and administrative staff
  • Marketing material within your broker
  • Market reports and evidence related to the local area and type of property
  • Social media tools, newsletters and websites
  • Blogging activities
  • Your current database of customers and prospects
  • Communication systems and tools including telephone, email and direct mail

This list is simple and yet, many agents do very little in some, if not most, of these categories. Resources like these are usually available but generally underutilized.

Here are some tips to help you in this strategic action process in the sale and lease of commercial real estate:

  1. The reality of the market will always be around you and observable. There will be opportunities and opportunities to seize and explore. Every property, every customer and every business relationship will give you the opportunity to ask questions about referrals, leads and business relationships.
  2. One of the simplest marketing tools at our disposal is that of the business card. You really do not need many other tools to help you build new relationships. Give yourself the goal of distributing at least 10 new business cards a day. Most of the business cards we distribute are kept rather than discarded. Many high-level agents have created their success and market share by regularly distributing business cards every day.
  3. While there are many technological tools to use, including social media, websites, newsletters and email marketing solutions, most of the successes you create as Broker or agent will come from ongoing personal relationships established with qualified prospects. On this basis, you must turn to the right people to build trust and loyalty over time. The relevance and specialty of the property will be part of this process.
  4. Combine and match your prospecting activities around the elements you are comfortable with and can implement every day. Most of the major agents will diversify prospecting into cold calling, direct mail, newsletter activities, door calls, success letters, road signs and list pamphlets associated with the call. industry. A simple approach will always put you in front of new people very comfortably and frequently. Your prospecting approach should be a habit in your journal.
  5. Define target numbers related to your business plan. Figures must be related to daily activities and weekly goals. Normally, goals should be targeted to outgoing calls, new meetings, property presentations, successful announcements, exclusive ads and advertising investments. All of these things will have a direct impact on your market share. Monitor and measure activities within these categories. Increase the number to reach an important permanent goal.

When you create an action plan on a personal level, follow and measure your progress so you can see how things improve at the end of each week. The real estate market will always change and therefore your prospecting activities should also be adjusted to best practices and results.