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Are You Getting Your Commercial Real Estate Prospecting Done?

By Jim Gillespie | March 5, 2013

We’re now two months into the New Year. With this in mind, are you getting your prospecting done these days? Whenever the New Year gets here it’s easy to get excited about all of the solid results you’re now going to be producing, but are you really doing the prospecting right now that will make all of this happen?

In order to have the kind of year that you want to be having, you need to be getting your prospecting done. With this in mind, how much prospecting have you been getting done every single week so far this year? And when answering this question, is this really the amount of prospecting you need to be getting done in order to make the kind of money that you want to be making this year?

We’re now in March, and any sales that you intend to close and get paid on by the end of the year will most likely need to be initiated by August, or by September at the latest, to ensure that you’ll get paid on these transactions in 2013. There can often be contingencies and delays in these transactions, and the 60-day escrow can easily transition into becoming the 90-day escrow…or longer.

In order for you to get paid on leases, this can oftentimes depend on the exact type of property you’re working on, and on the overall size of the transaction. But in order for you to get paid this year on lease transactions, you’ll most likely need to be showing space to your clients and prospects by September…or by October at the latest. Which means that you’ll need to have then located your prospects by September or October through your prospecting.

So in order to get paid on all of your transactions in 2013, you’ve got about six, maybe seven months to still find your prospects and begin initiating your transactions with them. Otherwise there’s a good chance that you won’t get paid on your transactions with these prospects in 2013.

With this in mind, are you getting all of your prospecting done right now? Because doing your prospecting is a vital component of you both finding these prospects over the next 6-7 months, and then closing transactions with them that you’ll get paid on in 2013.

So how much prospecting have you been averaging every single week so far in 2013? Keeping this in mind, how much prospecting do you need to be averaging every single week over the next six or so months, in order to locate the prospects that will lead to you achieving your income goal for the year? And finally, what do you need to be doing every single week to make sure that you’re getting your prospecting done…with no excuses?

Prospect 10-12 hours or more every week. Schedule your prospecting time in advance every week, and hold the time sacred, letting nothing ever stand in the way of you getting your prospecting done.

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