Some Key Prospecting Targets for Real Estate Agents

Prospecting for new business is part of the process when it comes to commercial real estate. Failure to prospect means lower levels of business and eventually high levels of stress.

The best people in the commercial real estate industry constantly prospect regardless of any economic circumstances or marketplace. Given this fact, it pays to have some rules regards the prospecting process. In this way you will make it more successful and consistent for yourself.

Here are some rules and targets for prospecting for new business:

1. Always have a selection of business cards on you for handing to other people. The best salespeople use a simple business card frequently in most of the contacts that they make. Ensure that your business card has contact information on one side, and a summary of your services on the other side.
2. Set aside 2 hours a day for prospecting with new people and contacts in your area. When you prospect for this period of time each day during the working week, you will win more business and market share over a period of time. Consistency is the key.
3. When you talk to people, initially ask for help and a direction to speak to the right person. You never really know when you are speaking to the correct person. Decision makers sometimes hide behind two or three layers of personnel.
4. Adopt the mindset of being a sponge for new information. Anybody who has an involvement with property should get into your database in one form or another. Your database complexity and versatility should support the capture of property types, property needs, location, rental, prices, contact details, and timing.
5. When you make a connection with the right person, ask direct questions, give information about yourself, and create a conversation. Given the business nature of the industry, the sleazy nature of traditional old fashioned sales pitches and pressured closes do not work. It is better to work from a base of need, information, and conversation. Be yourself at all times, just make yourself better at it.
6. Keep on top of the local property market activity. New listings, prices, and rentals will always be of interest to business owners and property investors. Further to that, monitor the activity of comparable properties in the same precinct. Time on market will be a variable factor impacting any future listing opportunity