When you think about growth, do you focus solely on more sales and leads? Or dig deeper with ongoing commercial real estate training that ensures you update systems, strategies and processes to stay relevant and current? Creating a high-paying business, especially for brokerage leaders and executives, comes from working diligently on CRE training and incorporating it into how you evaluate your business.
Apto works with top real estate coaches to train new hires and top leadership to fine-tune performance with specific technical tools and methods that help CRE companies grow to greater heights more efficiently. With a constant mindset of learners and coaching assistance, adapting to change, such as implementing new CRE technology or abandoning outdated processes, is not only easier, but stimulates both professional and personal growth. Whether you’re a new hire or a seasoned veteran, here are a few commercial broker training tips that will give you an edge over competitors for long-term success.
TIP 1: Work on developing your ideal audience definition
While you may have known every detail of your previous customers, the pandemic accelerated changes in their needs, wants and ownership types. Since your audience is now dealing with new developments, it is imperative to stay on top of their ever-changing needs. Think about how your target audience has changed and what could affect their future real estate requirements and choices. How can you continue to sell well but meet your prospects where they are now?
If you build into your commercial real estate prospecting the expectation that your target audience will shift next to the market when it comes to why they need your help, their biggest problems and how you can uniquely solve their problems, it will be much easier to understand the changing explain value. You provide. In smart ways you can increase your know, like and trust factor, increase the knowledge of your target audience and take your marketing to a more granular level. Even if you’re a seasoned real estate agent, narrowing down your ideal audience as it changes makes a difference in addressing changing needs and helping you grow.
TIP 2: Improve your real estate marketing strategy with consistent team collaboration
All the top real estate coaches and trainers will tell you that constantly filling your lead pipeline is non-negotiable to get more clients. But the marketing they told you to complete ten years ago is light years away from the strategy they would recommend today. Shifts in content creation and campaigns, and the way your potential customers consume content, means using diversified marketing across channels and assessing results consistently.
Create valuable content by leveraging your industry and niche expertise on topics from researching local trends to transaction errors to commercial real estate coaching opportunities. Share your unique take on data and the CRE space to be seen as a thought leader while speaking specifically to your ideal audience.
Once you have a thought leadership content creation system in place, consider a marketing strategy that includes social media advertising and email channels for increased traction and leads. Then expand your reach by designing targeted email templates — from introductions to follow-ups — that can be easily customized for effective and efficient scalability.
And no detailed, honed marketing strategy would be complete without sifting through reports for what’s performing best and gaining traction, what’s wasted time and effort, and what can be replicated to create more top-performing content. Re-evaluate your goals against the data and work on optimizing content effectiveness for better results. Think, “How can I create new ideas based on my best content that will help me stay top of mind with my target audience?” To ensure your business can reach its full potential, review your strategy regularly with your team to focus on the types of marketing that are now working best to attract your ideal customers.
TIP 3: Build and maintain a high-quality CRE network designed for growth
One of the biggest missteps that commercial real estate mentoring programs make is focusing too much on who you know in your network rather than who knows you. You can prioritize local networking events, associations, charities, and organizations as they provide opportunities for network expansion. But you fail to focus on building stronger bonds with those who know who you are, what you stand for, and what kind of customers you serve.
Building deep-rooted relationships is critical to building a quality network that fuels your business to grow. Provide value by nurturing your relationships beyond a few encounters or a single transaction; look for nurturing opportunities to build referrals. Wherever you are in your CRE training, you never know where your next prospect or project will come from. But if you have connections who understand who you are outside of a CRE company, you’re more likely to see additional referrals and leads.
TIP 4: Invest in a cutting edge CRE CRM software solution
When it comes to commercial real estate prospecting, there is no substitute for a high-quality CRE CRM that helps you manage the multi-step processes of marketing, prospecting and client management. And there are plenty of great CRM solutions, such as Apto, available. But whichever tool you choose, it should be something cutting-edge that you use consistently, help you learn and grow, and be as efficient as possible.
That means choosing software, preferably cloud-based for easy access, that consolidates all your data into one tool, unlocks new features based on customer feedback, and helps you complete all your processes quickly. It fits your budget for the long term without clinging contracts, and evolves over time to provide ongoing support for business changes or issues.
It’s a workhorse for tech tools that provides predictive insights so you can focus your efforts on closing deals, while the CRE CRM tracks, monitors and streamlines your operations. Even if you’re just starting out, moving to an integrated solution that can handle the versatile parts of your business means you’re already prepared for growth.
TIP 5: Consider investing in yourself with a dedicated CRE coach or coaching service
Top real estate coaches and trainers, such as The Massimo Group, sharpening talent at some of the best CRE companies in the country. Agents, from newbies to decades of brokerage, invest in their future by learning how to adapt to change, exploit their potential and recognize how to improve on their weaknesses. With coaching you can add course corrections as well as new approaches and personal responsibility.
Without the external acumen of a commercial real estate mentor, brokers can miss out on techniques and systems for improving lead or follow-up processes, properly evaluating their business strategies and workflows, and real-time feedback from a professional. One of the best ways to grow while maximizing efficiency and profit is to find a CRE mentor with decades of experience, proven results, and a variety of skills to learn from. A proven path of success and the experience to show you how to avoid mistakes will accelerate your growth and fast forward over potential missteps.
TIP 6: Develop and maintain a SWOT analysis for your commercial real estate company
Conducting your SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis on a regular basis is critical for any commercial broker looking to build a better, more profitable business. Because these assessments help you find blind spots, it’s easier to see your growth opportunities, where you fall short, and positive qualities about you that were previously hidden. When you make SWOT analysis part of your in-house training, including commercial sales training for new agents, the knowledge not only fills the gaps in the business, but progress and improvement become the name of the game.
TIP 7: Explore New and Upcoming Neighborhoods Forever
Want a stream of new lead opportunities that you previously overlooked? Schedule time in your calendar to explore new areas regularly. Not only is this fun, but you can learn about a new niche or real estate opportunity that can set you apart and help you acquire new clients. You can keep your mind open for emerging neighborhoods, follow evolving options, and expand your network for new leads.
Because areas in your city are constantly changing, what’s old can become new and what’s in can quickly be out. But when you have your pulse in a number of different spots outside of your typical stomping grounds, unexpected growth opportunities can show up, providing competitive advantages.
TIP 8: Regularly work on communication and listening skills
Commercial real estate training 101 always comes back to building relationships. But if you can’t communicate well and really listen to your customers’ needs, your business will likely level off when it comes to growing quality relationships and referrals. By hearing your customers’ concerns and questions, you can respond thoughtfully and honestly with the right information rather than responding with the first set of facts that stand out. In addition, quality communication and listening leads to more trust and future leads because your customers feel understood and heard.
By listening and responding carefully, you set yourself apart from other CRE brokers by creating memorable customer experiences and easy opportunities for customers to remember why they hired you.
Continuous training, improving your skills and sharpening your knowledge base are imperative to create a CRE company that thrives even under difficult circumstances. Staying on top of new information and having a growth mindset can help you stay ahead of your competitors and keep your business relevant.
No matter where you are in your commercial brokerage training or how many years you have been licensed, there are specific tools and technology that can help you stay ahead and on the top of your market. While there are many tech stack options available, few have the trust of 10,000 brokers like Apto, who leads the commercial real estate CRM and deal management software arena. If you want to grow your business, consider requesting an Apto demo today.