13 Essential Skill Sets for Quality Commercial Real Estate Brokerage
In spitting up the critical roles of a broker or agent you can soon see the essential sales skills that help improve results in commissions and listings.
Here is the list:
- Researching the right properties and people to work with
- Prospecting for new business, listings, clients, and property opportunities
- Qualification of sellers, buyers, tenants, and business proprietors
- Arranging meetings with the right people that have an interest or need in commercial property
- Presenting your services as a specialist agent or broker in the local area
- Listing a property professionally and correctly for the market conditions, the client, and the location
- Marketing a property to the target audience of buyers or tenants as the case may be
- Showing and inspecting a property with qualified buyers or tenants
- Handling objections related to a sale or lease
- Negotiating and closing on the essential terms and conditions of a property transaction
- Documenting a sale or lease accurately in accordance with the law and the clients instructions
- Following through on a closed transaction to ensure compliance and completion by all parties to the contract or lease
- Maintaining an accurate database of leads and contacts that you can draw on when the right property opportunities arise
This is a simple list, but every phase or stage is critical to the next. Top agents are very good at most things on the list; ordinary agents are generic at best.
If you want to rise to the top of the industry as a broker or agent, this list is something to be reviewed regularly, and worked on. Practice is required. The key skills take time to develop.
Do some self-analysis now to review where you ‘rank’ on the separate issues in your work practices. Separate the items to see where your strengths and weaknesses are. In many respects your ‘weaknesses’ are likely to be the things that are holding you back from achieving results in more listings and better clients.
Many people come to the industry without the required self-assessment and plans for improvement. Over time they struggle with momentum and income. If you regard yourself as a person that can be a top agent in your local area, now is a good time to start on the required skills.