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Here’s a Tip to Assist You With Getting Your Commercial Real Estate Prospecting Done

By Jim Gillespie | July 12, 2011

Commercial brokers must prospect a lot more nowadays to produce anywhere near the same kind of results they were producing in their brokerage businesses years ago. And even when you’re doing more prospecting, you can easily end up producing less income than you were several years ago, too.

Mike Monteleone, CCIM, a broker who’s averaged more than $40 million in transaction volume a year throughout his career, told me that he’s been prospecting more than 20 hours a week in this economy. So if you want to produce the best results imaginable in this economy, how many hours a week do you think you need to be prospecting?

One of the greatest problems that brokers constantly face around prospecting, is not getting it done. This can lead to getting so far off track from producing the results that brokers want in their businesses, that they can completely lose track of how much prospecting they’ve really been doing. But at the same time, by feeling constantly busy, they can delude themselves into thinking they’re doing everything imaginable to develop more new business for themselves.

This can be a horrible, frustrating place for commercial real estate brokers to be operating from.

With this in mind, are you committed to doing whatever it takes to maximize your income this year in your brokerage business? Because if you are truly committed, you need to be prospecting constantly, and you need to be tracking how much prospecting you’re actually getting done every week. Which brings me to the following recommendation…

Every Friday, at the end of the day, write down how much prospecting you’ve gotten done for the week on a sheet of paper, and sign your name to it. You can prepare a basic form you can utilize every week for this, where you can fill in the dates for the week, the amount of prospecting you’ve gotten done, and then sign your name to it.

This can be a big reality check for you, because the amount of income you’re going to earn over the next year will be directly proportionate to the amount of prospecting you’re getting done. So make sure you’re not deluding yourself about this, and just get your prospecting done with no excuses.

There’s something very powerful about doing this process. When you’re writing down the amount of prospecting you’re getting done every week, be it the number of hours you’ve completed, or the number of prospecting calls you’ve made, you get really clear on how much prospecting you’re actually getting done. When you come face-to-face with this every single week, it serves as a real kick in the butt to make sure you’re doing your prospecting.

There aren’t many brokers who would be willing to do this on an ongoing basis, because it makes brokers come face-to-face with who’s really responsible for their results within their own brokerage business, and that can be very tough to swallow.

"It’s the economy!"

"I’m doing everything I can to grow my brokerage business!"

These are the cries we often hear from brokers in the heat of battle. Yes, the economy is having a major impact on your income these days, but when brokers aren’t getting their prospecting done, they’re having a major impact on their income, too.

Do this exercise I’ve recommended for 120 days in your brokerage business, and if you like the results and the number of leads you’ve been producing, do this exercise in your brokerage business on an ongoing basis.

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This Wednesday, July 13th, I’ll be interviewing a CCIM member who’s closed more than $1 Billion in commercial real estate transactions, and we’ll be telling you how to powerfully get more done in your commercial brokerage business, and make more money.

When you’re registered for the teleconference, in addition to receiving the audio CDs, written transcription, and highlights from the teleconference all sent to you in the mail, you’ll also receive the following:

*** A 9-page report titled "Quick Start Tips for Utilizing Social Media"

*** Direct online access to more than 50 editions of my guest’s "Real Estate CyberTips" E-newsletter

*** A 12-page report on "101 Ways to Utilize a Virtual Assistant" in your brokerage business

*** A 4-page report on "The 10-Step Guide to Hiring the Right Virtual Assistant" in your brokerage business

So if you’re not already registered for this live teleconference and you want to get your hands on all of this information, click here for more information.

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If you’re interested in one-on-one coaching to take your commercial real estate brokerage business to the next level, click here to contact me.

"After just weeks of working with Jim I’m getting much more done now with far greater ease, and he has my agents completely on fire and much more passionate about their business!"

Mike Spears, SIOR
The National Realty Group

Click here to see more testimonials from my coaching clients.


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