Tag Archives: commercial real estate

To Succeed in C.R.E. Focus on the Basics

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I was happy when a mentor told me that in any endeavor there are a half a dozen things that make up 95% of our success, and that there are hundreds of things that make up the other 5%. Our challenge is not to focus on the 5% but on mastering the fundamentals. The most successful people are those who master the basics. Fortunately, I also learned the correct syntax for success from my mentor. The proper foundation for success at anything is an education that compresses what it has taken other people years to learn into a few weeks.

The next level in the success pyramid is training and focuses on skill building. If there is no skill training, there cannot be any deliberate practice. Without deliberate practice there cannot be coaching to provide the immediate feedback necessary to assess what we have done correctly and where we need to improve. The role of mentors is to help us innovate and solve unusual problems. He taught me that the reason so many new commercial real estate agents have problems, is that they utilize a mentor as the basis of their career.  In this situation very little coaching occurs because the new agent tags along to meetings where the mentor does the heavy lifting. The new agent is the observer so there is nothing to coach. There is no deliberate practice because the mentor has no time for the necessary skills training. And an education in the fundamentals is almost entirely absent.

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The Top Dogs programs provide you the correct step-by-step path to success. How to Fast Track your Expertise in Commercial Real Estate will educate you quickly. How to Run with the Big Dogs in Commercial Real Estate will provide you the skills training. The action assignments will engage you in deliberate practice. This will allow your mentor to fulfill their proper role as your coach and provide you the immediate coaching and feedback necessary to perfect performance.

The simple truth is success only requires that people use the correct syntax. In the commercial real estate industry it is axiomatic that 20% of the broker’s produce 80% of the transactions. It is those who master the basics that produce. Be one of those few who focuses on and masters the basics of the business and learn how to produce.

 

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Six Ways to Market on the Internet

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For the last ten years, I’ve told commercial real estate agents and brokers that the Internet will not sell for you. I stand behind this statement. During the dot-com boom, it was proposed that you could sell everything over the Internet. People loved this idea because it took away their need to work at selling their services. The thought was, “If I just develop a good Internet presence, I won’t have to do all the work I currently do to sell.” We all found out this wasn’t true.

The Internet is a very valuable resource though. It won’t sell for you, but I’ve found that there are currently several great ways to generate leads for commercial real estate clients on the Internet. They include:

1. Website: You need to have a personal website. In our training videos and classes we share with you some tips on how to quickly get one going. They are cheap and easy to create these days. If your website is going to be a lead generator, it needs to offer your ideal clients resources that they can access for free or for a price. To produce a lead, you simply require some form of registration in order to access the resources available.

2. Email: I do not advocate huge email blasts to people with whom you have no relationship (otherwise known as SPAM), but there are many other ways to use email, including auto-responders, opt-in newsletters, endorsed offers sent to other people’s lists, and several other ways. When you send out email, make sure it offers good education or information. I suggest that the content not be contained completely in the email. Instead, the reader should need to click a link to access the information. The link then takes them back to your site or to a place you would like them to be. This allows for good tracking of your marketing efforts and creates better traffic on your site.

3. Search Engine Placement: You can pay to be listed at the top of the list for any set of “keywords”. This means that when someone searches for information on certain terms, your listing comes up at the top. This is a great way to drive traffic to your site or to a site that makes a specific offer to your potential clients. Check with the major search engines for more information on key word advertising. Over time, you can work to achieve high “natural” rankings for those same keywords.

4. Advertisements on other sites: This can range from reciprocal links to banner ads, pop-ups and pop-unders. If there is a site that your ideal clients frequent, check to see what linking or advertising opportunities exist on that site. One tip I can give you is that your ads should not simply be for you or your service. Instead, post ads for information, such as lists, reports, books, and more. Potential clients are much more likely to click on a link offering a free list of investment opportunities or available space than they are to click on a link that simply has your name and picture.

5. Article and information submission to online news and information outlets: This is very similar to a traditional PR campaign that submits articles and information to print, radio and TV outlets. The main difference is that you are submitting to online newsletters, industry sites, news sites and anyone else who is sending information to your desired audience. You can also self-publish this information by posting these articles to your own site or connected to your site. Either way, the goal is to create more ways for people who are searching for information and services you can deliver to find you. As was already mentioned, we offer a wide variety of articles that can be submitted.

6. Social networking sites: Much like networking in the real world, online networking can be a great way to meet people who can either become clients or refer you to clients. No different that networking in the real world, online social networking requires a fair amount of work for it to pay dividends. Networking online also has the added benefit of providing more ways for people to find you online, which provides a lot more opportunity for you to market using the previous five ways listed.

A well-rounded Internet campaign will use each one of these methods to contact potential clients and generate leads. Ask yourself, “How many of these methods am I using?”

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Focus on the Results

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We all use “to-do” lists – and they are useful for managing certain types of activities. However, commercial brokers get paid for results, not activities, and “to-do” lists can cause us to focus on activities.

Here is what often happens: Whatever you consistently focus on you will get more of; focus on activities and you will get more activities. It’s easy to get caught up in the illusion of progress instead of achievement.  The satisfaction of checking off a series of “to-do’s” perpetuates an illusion of progress. Thinking becomes short term, rather than strategic. Endless streams of activities can pile up unless you “keep up”, causing stress. Meanwhile, important things get crowded out because our focus is on urgency rather than what is truly vital for success. So what can we do about it?

Instead, make sure you have a written business plan. Then schedule the actions to implement your plan. Focus on the most important results – specifically, which properties do you want to list, sell or lease right now? Prioritize the actions that will achieve these results.

Innovative simple ways to accomplish results, opening the door to improved ways of doing business.  Use the Top Dogs programs to create your step-by-step action plan for next –level success!

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Expanding Your Business With Commercial Real Estate

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Expanding Your Business With Commercial Real Estate - TDogs.com

 

One of the most pervasive myths is that commercial real estate is difficult and takes years to break into. Thousands of real estate agents have discovered that they can expand their existing business with commercial real estate transactions quickly and easily. They also discovered that they love doing commercial transactions because they are interesting and the money is really good. Plus, they have proven that they can get the results their clients want.

 

That is because they discovered that all of the old barriers that kept them out of commercial transactions are gone. In the past, the mainstream commercial companies controlled the information and resources and that kept residential agents out of the commercial markets. That means that these residential agents left thousands of dollars in commissions on the table.

 

For you to earn big money in commercial real estate you don’t need to go to a mainstream commercial house or to set up a commercial practice, all you need to do is to ask your clients about their commercial real estate needs. How many of your clients own their own businesses, want to start a business, or have a position of authority in a company that occupies commercial property? How many already own or want to own commercial real estate? All you need to do is to tap into the commercial real estate needs of your existing clients.

 

To do that you need the fundamental knowledge. And luckily you can get that knowledge quickly and stop leaving your commercial commissions on the table for someone else to pick up. What that really means is that you can dramatically increase your income by tapping into the big commissions that commercial agents routinely earn.

 

To learn more, check out the Top Dogs programs which are instantly available via streaming video with e-book manuals. Or on DVD with a hard copy of the training manual. Both include downloadable property and financial questionnaires and client requirement assessment tools.
 

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Production Plateaus and What to do About Them

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Choice and decisions: businessman thinking with question marks written on adhesive notes stuck to a brick wall

 

The full transcript

One of the most fundamental human needs is growth. Growing personally and professionally as well as growing our business feeds our spirit. That’s because the need for growth is a deeply seated human need without which our spirits decline.

 

That is what makes learning a new game or sport so exciting and interesting. Because, in the early stages of learning anything we are growing rapidly, expanding our knowledge and our skills. If we were to put that on a graph we would see a sharp upward curve in the early stages of learning. So we get excited about the next new thing, the next new sport, the next new business or marketing technique.  We have certainly seen this recently with social media. Social media can be a very effective tool for business development and yet few can say they have mastered the use of it in their business. And that’s because of something that we call a plateau.

 

The most important thing to understand about plateaus is that they are both inevitable and recurring. We must learn to expect that plateaus will occur and if we are successful in breaking through a plateau we must expect that the next plateau is inevitable. That is why we must develop effective strategies for dealing with production plateaus.

 

In commercial real estate, people come into the business very excited to learn and naturally, they learn quite a bit in the early stages.  They get involved in a few transactions and learn even more. Then they hit their first production plateau. How effectively they deal with their first production plateau will make or break their career.

 

There are three ways that people typically respond to any kind of a plateau in their personal and professional life. How one responds is based primarily on who you are as a person. In our modern society the vast majority of people fall in the first category because our society has fostered a culture of instant or rapid gratification.

 

The first category is the dabbler. When dabblers hit the first plateau their reaction is, “Well I didn’t really want to do this anyway, this game, sport or business stupid!”, and they quit. That is one of the reasons why we see agents come in and try the business for a little while and get frustrated and decide that they will do the next new thing. For example in the recent past we saw many agents shifting to making small amounts of money doing BPO’s versus transactions. While it is appropriate to change your approach to business when the market changes, dabblers quickly look for and shift the next new thing. That way they can get the growth gratification of the early learning stages and then jump out again when they hit the next plateau.

 

Because commercial real estate tends to attract more achievers than dabblers we typically see a different approach to a plateau than that taken by the dabbler. Achievers stress over the plateau, get frustrated, bear down on the problem, and attack it. True achievers will hammer away at this approach until they break through the plateau and move to the next level.

 

The challenge here is the cost that they pay in effort, stress, anxiety and pressure. By and of itself stress is not entirely negative. Although we all understand the effects of too much stress, stress, can propel us to the next level if were sufficiently motivated to achieve. And, a healthy level of stress does propel our business. However, the drawback of reacting with stress frustration pressure and total resolve to breaking through the plateau is that it often takes a tremendous amount of time and energy. The result is that we lose valuable time in our career and expending this level of energy and intensity is enervating. And each time we hit the inevitable successive plateaus, it becomes more difficult to mount the effort to break through. This often causes us to stay in a particular comfort zone that is below the vision we held for ourselves in what we might accomplish in our business life.

 

There’s a third way of reacting to inevitable and recurring plateaus that is more effective, It reduces our stress and frustration and gets results faster. It is called modeling. Modeling is nothing more than finding somebody who is getting the results that we want or need who can teach us how to get those results. This is the role of coaches.

 

If we look at the sports world we see that every top athlete has coaches. Why? Because they know and understand that there will be plateaus in their performance. That plateaus are inevitable and recurring. That they need to learn how to refine their technique to get the results they’re looking for. All top-level producers in the commercial real estate industry have utilized effective coaches to help them refine their business and to break through and take their production to the next level.

 

We are constantly making decisions on how to effectively react to our environment, and to business. How well we do in our business is a reflection of the choices that we make. When we stop growing, or when our business stops growing. Many people choose to make it a permanent condition.  They blame external circumstances such as the level of competition, market conditions, the nature of the business, a lack of resources, the company they work for, etc.

 

In my days and construction we had an expression, “fix the board, not the blame”. In essence what this really means is focus on solving the problem. So the real question becomes what is the fastest and most effective way to solve the problem of a production plateau?

 

The three choices are to be a dabbler and move on using whatever rationale is at hand for not breaking through to the next level. Or for the achiever, to stress about it, get frustrated, bear down on the problem, expend a tremendous amount of time and energy, and ultimately breakthrough to the next level only to arrive at the next plateau.

 

And this will certainly work and it will feed our need for growth.   The third approach is to work with a coach who can effectively get you the results you’re looking for and help you experience the joy of growing personally and professionally while taking your business to the next level.

 

If you would like to tap into my 17 years of experience as a top producing commercial real estate broker, My 10 years as an owner or manager of a successful commercial real estate company in San Francisco, and my 16 years of experience working with and training commercial real estate agents nationally, give me a call.  I don’t know if coaching is right for you but if you would like to find out if it is, make the call right now.

Bob McComb is the creator of the Top Dogs Commercial Real Estate Training Programs and can be reached at 415 971 4830 or bob@mccomb.com

 

 

 

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