Do you focus solely on increasing revenue or leads when you think about growth? Do you go deeper and learn more about commercial real estate to ensure you are always up-to-date with strategies and practices in order to grow your business? For those who are leaders in brokerages or managing directors, creating a profitable business is possible by diligently focusing on CRE education and integrating it into your company’s evaluation process.
Apto partners with top realty coaches to train new hires and top leaders to improve performance using specific tech tools and methods to grow CRE businesses more efficiently. The best way to adapt to change, such as implementing new CRE technology and moving away from outdated processes, is with a coach’s help and a constant learner’s mindset. This will allow you to grow professionally and personally. These tips will give you an advantage over your competitors, whether you are a new hire or a seasoned veteran commercial real estate agent.
1. Work on Defining Your Ideal Target Audience
Although you may have been able to know the details of your clients in the past, the pandemic brought about rapid changes in their property types, needs, and wants. It is crucial to keep up with their changing needs as your audience deals with new developments. Consider how your audience has changed and how that might affect their property choices and future needs. How can you market effectively, yet meet your prospects right where they are?
It’s easier to communicate the value of your services if you have in your commercial real estate prospecting that your target audience changes with the market. Smart marketing can increase your knowledge and trust, improve your client knowledge and sharpen your marketing skills. Even if your experience is limited, it’s worth refining your target audience as they change to help you address shifting needs and grow.
2: Increase Your Real Estate Marketing Strategy Through Consistent Team Collaboration
Real estate trainers and coaches will tell you that it is essential to keep your pipeline full in order to attract more clients. The marketing strategy they recommended a decade ago may not be the same as the one they recommend today. Diverse marketing is essential to ensure that your clients are aware of changes in content creation and campaign content. You should also be able to review the results regularly.
You can create value-packed content using your industry expertise and knowledge about topics such as research on local trends, transaction mistakes, or commercial real estate coaching opportunities. You can share your unique perspective on data and CRE to become a thought leader, while speaking to your ideal audience.
After you have a system in place for creating thought leadership content, it is time to develop a marketing strategy. This strategy will include promoting your content on social media and via email channels. You can get more traffic and leads. Next, create targeted email templates that you can customize for efficient and effective scaling.
Without looking through the reports to see what is gaining the most attention, what is generating the most traffic, what is not working and what can be repeated to produce more high-performing content, no marketing strategy could be complete. For better results, you should reevaluate your goals and optimize the effectiveness of content based on the data. Consider the following: “How can my best content help me keep my target audience in mind?” To ensure your business is at its best, you should regularly review your marketing strategy with your team. This will allow you to pinpoint the best types of marketing to attract your ideal clients.
3: Create and Maintain a Quality CRE Network Designed for Growth
Commercial real estate mentor programs often make the most common mistake of focusing too much on who you know and not who you are. As these events offer networking opportunities, you may choose to prioritize local associations, charities, or organizations. You’re not focusing on strengthening your connections with people who know you, what you believe, and the types of clients that you serve.
To build a network that will help your business grow, it is crucial to establish deep relationships. You can add value to your relationships by building trust and nurturing them beyond just a few transactions. You never know who your next prospect or project might be, no matter your level of CRE training. It’s much more likely that you will get referrals from people who know you beyond the CRE business.
4: Invest in Progressive CRM Software Solutions for CRE and Real Estate
A quality CRM system that can help you manage multi-step processes such as prospecting, marketing and client management is the best choice for commercial real estate prospecting. There are many great CRM options, such as Apto. However, you should choose a tool that is cutting-edge, efficient, and helps you grow and learn.
This means that you should choose software that is cloud-based to make it easy to access all your data, release new features based upon customer feedback and help you speed up all your processes. It is affordable for the long term without having to sign long-term contracts. And it evolves over time to offer ongoing support for business issues and changes.
It’s a powerful tech tool that gives you predictive insights. This allows you to focus on closing deals, while the CRE CRM monitors, tracks, and streamlines your business operations. Even if your business is just beginning, you can make the transition to an integrated solution that manages all aspects of it.
Buy on the fringe and wait. Buy land near a growing city! Buy real estate when other people want to sell. Hold what you buy! – John Jacob Astor
5: Create and Maintain a SWOT Analysis for Your Commercial Real Estate Business
Commercial brokers who want to create a more profitable and successful business must regularly perform their SWOT analysis. These reviews can help you see blind spots and identify opportunities for growth. SWOT analysis is an integral part of company training. This includes commercial real estate sales training for agents.
6: Explore New and Emerging Neighborhoods for a Lifetime
Do you want to be able to access new leads that you haven’t considered? You can schedule time to explore new areas. This is not only fun but it may also help you discover a new niche or property opportunity that could be a competitive advantage and help you gain new business. You can keep your eyes open to new neighborhoods and track changing options. This will allow you to expand your network to find new leads.
Your city’s areas are always changing so what’s old could become new and what’s new can quickly become out. Unexpected opportunities for growth may present themselves if you keep your finger on the pulse of a variety of locations outside your usual stomping ground. This can give rise to competitive advantages.
7: Regularly Work on Communication and Listening Skills
Building relationships is the cornerstone of commercial real estate training 101. If you don’t communicate effectively and listen to your clients, your business won’t be able to grow quality relationships or referrals. Listening to your clients’ concerns and asking questions will allow you to respond with thoughtfulness and genuineness with the correct information, rather than just reacting with the first set facts. Your clients will feel heard and understood when you communicate well.
You’ll be able to stand out from other Commercial Real Estate brokers by listening and responding with compassion. Clients will remember you for creating memorable experiences and opportunities to recall why they hired you.
To create a successful Commercial Real Estate business, it is essential to continue training, improve your skill set and increase your knowledge. You can stay current on new information and have a growth mindset to keep your business relevant.