7 Habits of Highly Effective Commercial Real Estate Professionals

Transcription

1 7 Habits of Highly Effective Commercial Real Estate Professionals www.

2 TABLE OF CONTENTS: Slow down Process to Speed up Sale.. 2 Information Overload Analysis Paralysis Time Savers T.E.A.M www. Play Your Strengths...12 Power of Consistency 15 1

3 CHAPTER 1: Slow down Process to Speed up the Sale 2www.

4 Do it again and again until you can do it in your sleep. Choose a few steps for accomplishing your sales process and break it down into smaller parts. Do it again and again until you can do it in your sleep. Do not move to the next step until you feel comfortable and proficient. Each time you become proficient, add more to your sales process workflow. The goal is to add a small amount with each step so it becomes much easier to remember the tasks and improve your skill levels. Investing this time now will have exponential impact on the effectiveness of your sales process. 3www.

5 CHAPTER 2: Information Overload More information is not always better and here is why. Do you really need 5,000 contacts, 3,000 building owners and every property in the world to market to? A good rule of thumb is only have as much data as you can manage. It is not a race to fill your contact list. Ask yourself, how many people can I touch a year? If I make 20 calls a day, which includes prospecting for new business, and I can only touch 2,000 of those contacts then I would stick with 2,000 contacts. Add only as many contacts as you can touch at least 3 times a year. 4www.

6 Make sure you segment your contacts and companies. Using the cast a wide net approach, does not seem to work as well these days with so many people doing commercial real estate. For those of you using a contact management database program, you will have a touch or verify button, so you better make sure you use it! Today more than ever that is possible as a result of our ability to connect with so many! Anyone who has not been touched or verified, put into a group and make one extra call a day so you can verify them, update their needs, property ownership, or leasing info. These days your are not alone, even though in sales we are often alone or independent professionals. Sales people need to network, not just with clients, but with colleagues as well. If you are trying to build a business, you need to realize that sometimes you need resources and a team to help you succeed. Today more than ever that is possible as a result of our ability to connect with so many! 5www.

7 CHAPTER 3: Analysis Paralysis The term analysis paralysis or paralysis of analysis refers to: over-analyzing (or overthinking) a situation Keep it simple. I know it sounds basic, and it really is. For example: Start by choosing 2 or 3 key facts you want to track for properties, buyers, and sellers. I might track Investors for multi-family units with a minimum and maximum investment amount and have properties that would fit those needs attached to the owners of those buildings. 6www.

8 For leasing, I would track: The business type Their space requirements Lease expiration Square feet Since most of us have access to the same data, only take what you need as that is the difference that will help you close more deals. 7www.

9 CHAPTER 4: Time Savers Everyone says they never have enough time and we all know we can find time, especially if it is going to make us money. Just like a pro baseball, hockey or tennis player would do, you need to remember to improve your game by practicing. 8

10 It is very simple to walk in the office and while your coffee is brewing, look at a tutorial and pick up a shortcut or learn a new technique that will save you time. It really is that simple. After you get that shortcut or technique down pat, move on to the next technological shortcut or feature that can save you time. www. CRM SOFTWARE CAN SAVE YOU TIME: Free 30 Day Trial Automation and the digital world are here to stay. You must learn how to use these tools and time saving methods as technology is expanding, not shrinking. 9

11 CHAPTER 5: T.E.A.M. www. T.E.A.M. Together Everyone Achieves More! 10

12 In the last year, I have made it a point to spend more time thinking ahead and discussing my ideas with my CRE colleagues and I have definitely noticed a marked improvement in the way I spend my time. I have learned about some great tools I never would have heard of. I have had that same impact on others by collaborating and brainstorming. When I do not know something, I ask others and I am finding that others are asking me in return! We all need to realize we are not alone, even though in sales we are often alone or independent professionals. www. Sales people need to network, not just with clients, but with colleagues as well. If you are trying to build a business, you need to realize that sometimes you need resources and a team to help you succeed. 11

13 CHAPTER 6: Play Your Strengths www. In today s world, there are probably aren t any more vast undiscovered sources of riches. 12

14 I have found that the more successful agents play to their strengths as much as possible. Use what you already know and lean on others for what you do not. Do it yourself is a great approach for many things, but when your business and livelihood depends on it Everyone is out there competing for the same business, and it is our job to stand out. You want to make sure everything is done right. Often times this can be by hiring a professional to get it done. www. Think about what your time is worth, and Give it a Value. If a task takes, for example: 4 hours = $ 13

15 If it will take you 4 hours to prepare a document or import data into spreadsheets and possibly more if you hit some roadblocks along the way You should pay to have that done for you. The amount of time needed is going to be significantly less, so you can spend your time focusing on what you are good at. www. Yes, you need to learn techniques and shortcuts, but you also have to realize what your limits are and be prepared to outsource some time draining busy work so you have more time for what you are really good at doing. 14

16 CHAPTER 7: Power Of Consistency It s easier to be great than to be consistent. Being consistent with what we do in life is, at times, tough. However, with its mastery, success is always at hand. - Kent Julian www. 15

17 Delivering service to your clients does in fact require consistency. Especially in our business, our clients expect accuracy, precision and a predictable outcome. Set your standards and formats and systems and stick with it. www. Create forms, processes and procedures for yourself. If you refer to something or use a term, be consistent with that in all of your documents or information. In the end it all will save you time and provide a concise and uniform outcome. 16

18 I hope one of these 7 profound insights will be helpful to you. It is my goal to encourage all of the CRE professionals we do business with to remember that it is important to do one thing well today rather than doing 10 things poorly yesterday. Now, of course, it always depends on how you interpret this concept. For example: When you are in a small geographic market, you have to know or master many segments and specialties, however, deep down, it is the geography and the community that is your expertise. We have to realize that although we have many segments, geographies and property types, there is something that is the common thread we know and do so very well. An outsider may be an expert in a segment, but if that outsider does not know the geography, they are out of their league. www. It is very simple, choose 1 thing you want to work on and stick with it, no matter what it may come to be, until You are the Expert. 17

19 TRY REA 9 COMMERCIAL REAL ESTATE CRM SOFTWARE FREE FOR 30 DAYS: Download Free Trial www. If you re interested in improving your 7 Habits Of Highly Successful CRE Agents, request a custom demo of the Leader in CRE CRM software. 18