My Recent Blogposts
Something that’s important to understand when making listing presentations is that you’re constantly being compared to your competitors, so you need to clearly stand out as the best choice your owners could ever make in a commercial real estate agent. With this in mind, utilizing testimonials in your presentation packages from people you’ve already successfully closed transactions with can definitely help you stand out, because people are used to hearing salespeople talk about how great they are, and why they are definitely the best. But reading 10-40 testimonials from your past clients, discussing how great their experience was in working with you, can get your owners to believe that they’ll have this exact same kind of experience with you when they hire you to list and market their property…
If you’ve been struggling to get your prospecting done, here’s a simple tip to help make sure that you’re making more calls…
Over the years, very little has been done on a large scale to transform the lives and the income of commercial real estate brokers. But in 1979, Bill Lee had a vision, and he asked himself the following kinds of questions:
- 1) Since brokers are the ones generating all of the income for commercial real estate brokerage companies, why should they be giving away so much of their money to the company and to outside shareholders?
- 2) Why is it that brokers need to be paying for big salaries and for the overhead of executives located in smoked-glass office towers hundreds or even thousands of miles away, when the brokers can’t quite understand what these people are even doing to help them to make more money?
- 3) Can we develop a commercial real estate brokerage company with a prominent national presence, where the profits would go directly back into the pockets of the brokers themselves, and the management and the running of the day-to-day operations of the business would take place 100% at the local level of the individual brokerage office, without needing to follow the mandates of executives who are often located many miles away?
With this in mind, Bill Lee moved forward with his vision, he created the Lee & Associates brand, and the resulting growth of his vision has been quite astounding…
One of the situations that you definitely want to avoid when making listing presentations, is making a presentation when you have zero or very little chance of landing the listing. This can happen when the decision maker has already determined who they’ll be listing with, but they just want to receive some additional listing presentations for their own due diligence. In addition, within the corporate environment, the person may be told by their boss that they should receive 3-4 listing presentations in total along with the broker presentation packages, even though the broker who will get the listing has already been determined by the company.
So with this in mind, here is a question that I recommend you ask an owner whenever they’re inviting you to make a listing presentation to them…
If you know someone with Type II diabetes or high blood glucose levels, I strongly recommend the book titled, “The Diabetes Code” by Dr. Jason Fung. I got a top broker in our industry to read it and then they were able to quickly stop taking their four daily injections of insulin, and now the broker tells me that their blood glucose levels are lower than they were when the broker was taking their daily insulin injections!
In the book Dr. Fung explodes the myth around how diabetes is treated, showing us that insulin and drugs merely move the glucose out of the blood and into the vital organs, where it then does substantial damage. But his recommendations on diet and what to do along with the diet, is showing many people how to get off of insulin and drugs, and lower their blood glucose levels to safe levels naturally…
We’re now getting into March, and if you haven’t been getting your ideal amount of prospecting done so far this year in January and February, you’re now risking not having the kind of year you really want to be having in your brokerage business. The amount of prospecting that you get done week-to-week will determine the amount of solid leads you’ll be working on during the rest of the year, so if you haven’t been getting your prospecting done, now is the time to get back on track!…
There’s a book I’ve recently read that is a phenomenal book on learning how to negotiate more effectively. The book is titled, “Never Split the Difference”, and it’s written by Chris Voss, who was the FBI’s #1 negotiator for Americans who had been taken hostage by terrorists.
In the book Chris does a great job of of showing how his hostage-negotiating philosophies can be applied effectively in business, too, and I must say that with all of my training in psychology and Neurolinguistic Programming, he’s taken things to an entirely new level when it comes to persuasion.
One well-known Ivy League school invited him to negotiate along with their top experts, and he completely ate them for lunch, as he has a way of structuring questions when negotiating to get the other side to let go of their own position, and give in to what you want them to do. And it’s all done in a very friendly, easygoing manner, too.
So if you’d like to take your negotiating skills up to the next level, I highly recommend that you read this book!
Al Rose, who’s been a very prominent figure in commercial real estate brokerage in Los Angeles since the 1950s, passed away on Thursday, February 14th, and for those of us who knew him well, we know that we will never again meet someone quite like him within our industry.
He combined wisdom, success, knowledge, expertise, even-mindedness, complete honesty, a great devotion to ethics, and a wonderful sense of humor, all in one man.
I had the great pleasure of working for Al and along with him for many years, and I’ve never met anyone else quite like him within our industry. In an industry where we’re constantly dealing with massive egos, both in the clients that we’re representing and with the brokers themselves, Al always had his way of projecting calmness, professionalism, and certainty towards people within his transactions, and this would then usually have people align with his opinion on how they should then be moving forward….
Once you’ve identified an owner who will be listing their property in the weeks and months ahead, how do you differentiate yourself from all of the other brokers while you’re still waiting for the owner to get ready to list? During this 2-3 minute video I’ll show you how to stand out in the owner’s mind as the one expert consultant or advisor who has all of the answers for them.
When it’s time to ask your owners for an extension on your commercial real estate listings, they need to feel that you’ve been doing everything you can to move the listing, and that you’ve been doing everything you can to keep them informed on what’s going on. But if you’ve been dropping out all communication with them during the listing period instead, they’ll be likely to now list the property with one of your competitors, instead of extending the listing with...